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Editor's notes: The turnaround at BBY is just beginning with multiple initiatives underway that will enhance its competitive position in the future. After recent sell-off, stock has 65% upside

It was with a heavy heart that I sold my shares of Best Buy in October. Though I had great confidence in new management's ability to continue to improve operations, the company's share price was near fair value in my estimation, and I don't like to own companies without a margin of safety. Since that article in October, however, Best Buy's (BBY) shares are down 43%, offering up another opportunity to own this company at a discount to its intrinsic value.

Bricks and mortar consumer electronics retailers are not at all popular with investors today. But it is in the most hated industries that the best bargains can often be found. In my estimation, Best Buy...

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