A very interesting and diverse basket of value stocks has emerged in the last few weeks, most have been discussed here. I believe an equal-weighted basket of these value stocks will outperform S&P500 in the next 3-5 years.
T Rowe Price
Dollar General / Dollar Tree
There are a few others like CVS and McKesson which were much getter bargains a few months ago but are still somewhat undervalued.
Throw in an emerging market ETF like VWO or DGS (emerging market value is Grantham’s) and you should have a globally diversified portfolio.