Bill Ackman says some high-quality stocks are 'extremely cheap' — and highlights 2 that could offer 10x returns

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• Bill Ackman thinks many high-quality stocks are trading at an attractive discount.
• The hedge-fund billionaire recently touted Fannie Mae and Freddie Mac as having major upside potential.
• Fellow famed investor Michael Burry said he shares Ackman's perspective on market bargains.

As the volatile US stock market hovers near correction territory, Bill Ackman is focused on a handful of enticing buying opportunities he sees in the market.