Robert Olstein, chairman and chief investment officer of Olstein Capital Management, says General Motors Co. and Dillard’s Inc. are undervalued.

General Motors “is not priced right,” and Dillard’s is also trading at a discount, Olstein said on “Wall Street Week” on Sunday.

“They’ve got real estate underneath it,” Olstein said of the Little Rock, Arkansas-based Dillard’s. “We think this stock is worth as much at $140 a share and it’s selling at $100.”

General Motors’ balance sheet has improved since it went through bankruptcy, Olstein said. He said that Oshkosh Corp. is “going to come back.”

Olstein warned against investing in exchange-traded funds.

“Unless you’re doing the research on the stocks within them, you’re taking a risk,” he said.

While the overall market isn’t in a bubble, certain market segments including social media, biotechnology and some of the technology sector are in bubbles, Olstein said. Valuations for Netflix Inc. and Amazon.com Inc. are too high, he said.

“Wall Street Week” is produced by SkyBridge Media, an affiliate of SkyBridge Capital, the fund-of-funds business founded by Anthony Scaramucci.