Value inv. How to pick

[notluck]

How does one go about narrowing the field of stocks down to a reasonable number. Does one pick an industry and then find the best value? Or do you come up with some basic ideas of X market cap, with P/E of x, with dividend of X ect. I want to read I want to analyze stocks, but I get bogged down with the the number of equities out there.

Any advice is much appreciated.