Welcome to Episode #1 of the Value Investor Podcast.

Every week, Tracey Ryniec, Zacks Value Stock Strategist and the editor of Zacks Value Investor portfolio, will talk about all things value.

In this first episode, Tracey jumps right into the number one worry she hears all the time now that stocks are at new all time highs: are there ANY value stocks out there at all?

Investors are worried about valuation as many 20^th century company stocks like Smucker and Conagra soar to new highs with sky high valuations to boot.

But there’s always value stock opportunities out there, no matter what the market conditions. Investors just need to look beyond the big, hot names.

Tracey urges investors to look at industries that have been beaten down, including agriculture, energy, big equipment, apparel retailers.

Of course, the Zacks Rank also plays a role.

Which are some of the best value stocks right now that also have high Zacks Ranks?

This week’s top value stocks:

1. Meritage Homes (MTH Quick QuoteMTH - Free Report) : watch the homebuilders for opportunities. They are cheap and investors have been ignoring the industry for a couple of years. Meritage has a forward P/E of just 10.9.

2. Best Buy (BBY Quick QuoteBBY - Free Report) : a retailer??? Really? Isn’t brick and mortar dead? Tracey explains what she likes about BBY and why it’s not out of the game yet. It has a Price-to-Sales (P/S) ratio of just 0.3.

What else do you need to know about these value stocks?

Tracey talks about all of this and more in this week’s podcast.

Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor of the Insider Trader and Value Investor services. You can follow her on twitter at @TraceyRyniec and she also hosts the Zacks Market Edge Podcast on iTunes.