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Value investor Greenblatt says market in expensive range historically, likes Home Depot, Boeing

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Value investor and Gotham Funds co-chief investment officer Joel Greenblatt spoke with CNBC on Tuesday from the Third Annual Forbes SHOOK Top Advisor Summit.

The founder of Gotham Capital famously had annual returns of 40 percentfrom 1985 to 2005.

He wrote the New York Times best-seller"The Little Book That Still Beats the Market." This story is developing. Please check back for updates.

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But Buffett said stocks were cheap yesterday. So confusing.

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