Is there value in Microsoft?

Microsoft just snagged a contract with a prominent airline. And, a legendary value investor says the stock is “stupidly underpriced”. So is the tech giant a buy?

While American and United Airlines gave their pilots Apple iPads to replace the 38 lbs. of books each one carries into a cockpit, Delta just announced that it’s going with Microsoft Surface 2 tablets. One of the reasons is that Delta’s training software already runs on Windows.

(Read: U.S. to consider relaxing rules on using electronics in flight)

On the, well, surface of it, Delta’s purchase of 11,000 Surface 2 tablets won’t move the needle all that much when it comes to Microsoft’s revenues. Given that the Surface 2 retails for about $449, this would mean at most a $5 million buy without any special software.

But there’s more to Microsoft’s story than just one contract.

Bill Miller, chairman of Legg Mason Capital Management, said on CNBC’s “Squawk Box” today:

“Microsoft has been a terrible stock

Bob Olstein, Chairman and Chief Investment Officer of The Olstein Funds, says there are ways to profit from panics as people try to predict the markets’ direction.

Bob Olstein, Chairman and Chief Investment Officer of The Olstein Funds, has been managing money for over forty years. He says Wall Street has been feeding myths to investors for years to the detriment of the public.

In yesterday’s first of a three-part interview, Olstein explained that a good company is not always a good investment.

In today’s installment, Olstein says there’s another myth that Wall Street has been fostering in the minds of the masses: The idea that the market moves in the direction of major economic indicators.

(Read: U.S. government shuts down, next steps unclear)

“Since the Crusades, nobody has ever predicted the stock market with any degree of regularity to profit therefrom,” says Olstein.

His proof?

“There are no trillionaires out there,” he says. If anyone could accurately predict it the markets

Anthony Scaramucci, Founder and Co-Managing Partner at SkyBridge Cpaital and a CNBC contributor, says Sotheby’s is the stock hedge fund managers are talking about these days.

It’s nearly three-centuries old but these days, Sotheby’s is giving investors returns to rival a few young Internet companies. And that has gotten it noticed by some of the world’s biggest fund hedge managers.

Anthony Scaramucci, Founder and Co-Managing Partner at SkyBridge Cpaital and a CNBC contributor, says Sotheby’s is the stock hedge fund managers are talking about these days. SkyBridge manages over $8 billion and is also the organizer of the annual SALT Conference, one of the most important gatherings of fund managers in the world. Few people are as in-touch with what hedge funds are doing than Scaramucci.

(Read: Sotheby's upgraded)

Some of the big names include Daniel Loeb’s Third Point and Nelson Peltz’s Trian; they each own more than 3% of the company. Mic McGuire’s Marcato Capital owns about 7% of the