As a value investor, one of my top rules comes from a quote by Warren Buffett warning investors not to buy into hype: "Be fearful when others are greedy and greedy when others are fearful."

Following this advice, its time to dig deep to find value in today's bull market. Even The Economist featured a cover this week with a menacing golden bull charging through a concrete wall with the words "Wall Street is back". 

To find long-term value in surging markets sometimes its best to dive into the discount bin. In the video below, energy analysts Joel South and Taylor Muckerman look into the lagging energy sector to find a rare gem in Devon Energy (NYSE:DVN). This exploration and production company is trading significantly under its net asset value as the market continues to punish energy producers who hold significant natural gas assets in addition to oil sands acreage. 

With natural gas spot prices moving higher, in addition to Devon's 12%-20% oil growth this year, Devon presents a unique value proposition. In addition, the company has an incredible balance sheet which offers investors a safe haven while the company grows its liquids production over the long term.

In this video we state that Whiting Petroleum is growing its heavy-oil refining capacity, but we meant to say Whiting Refinery. The Motley Fool regrets the error.