More than two years into a robust bull market for stocks, buy-low opportunities may be hard to find. But contrarian investors can unearth some relatively low-risk opportunities — including a few that may be hiding in plain sight.

"The U.S. dollar ... is more likely to go up than down," says Rob Stein, senior managing director at Astor Asset Management in Chicago, when asked about out-of-favor investments. Reasons for fluctuations in the value of the dollar are widely misunderstood, Stein says.

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