Money manager Merner sees compelling values in Japanese stocks, Barron's says

Money manager Ed Merner, founder/President of Atlantis Investment Research, sees some compelling values. By just about any measure, Japanese stocks are at their lowest level in 30 years. "It's a great time for bargain hunters," says the 40-year-veteran -- once known as "Mr. Japan" by his peers in the 1980s. About 70% of the companies listed on the Topix, Merner notes, trade below book value, compared with less than 20% on the S&P's 500 index and 30% on London's FTSE 100. Merner is a fundamentalist. He likes companies that look cheap and can grow earnings over the longer term, and Japan is now full of such companies, Merner notes.Some of Merner's PICKS... Toyota Motor (TM), Sumitomo Mitsui Financial Group (SMFG) and Nidec (NJ). His PANS.... Sony (SNE), Panasonic (PC) and Sharp (SHCAY).