9 of the best stocks to buy in a sell-off

2024-01-11

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There have been many opportunities to buy some of the market's favourite stocks at cheaper prices in recent years. Many fortunes were made buying these discounted darlings at the bottom of the COVID-19 crash, and then again during the latter months of 2022 and throughout 2023 as markets looked out to the end of the Reserve Bank of Australia's interest rate hiking cycle. Take REA Group (ASX: REA), for example. The stock's share price crashed around 37% during the COVID crisis, before soaring 134...

There have been many opportunities to buy some of the market's favourite stocks at cheaper prices in recent years.

Many fortunes were made buying these discounted darlings at the bottom of the COVID-19 crash, and then again during the latter months of 2022 and throughout 2023 as markets looked out to the end of the Reserve Bank of Australia's interest rate hiking cycle.

Take REA Group (ASX: REA), for example. The stock's share price crashed around 37% during the COVID crisis, before soaring 134% to reach new highs by the end of 2021. Over the next six months, it would cascade 43% before rebounding 88% over the past year and a half.

And while we may not have a crystal ball to know when the next correction or crash may occur, it's worthwhile having a list of stocks in your back pocket to buy when sentiment swings to a new low.

So as part of Livewire's Outlook Series for 2024, we spoke to 12 of Australia's brightest investment minds for the one stock they would buy if it ever sold off.

Unsurprisingly, there were a few recurrent ideas in the mix, including three fund managers heralding REA Group as the best stock on the ASX, and two selecting Pro Medicus (ASX: PME) as the stock they would buy at a cheaper price.

Our featured fund managers include (in order of appearance):

Emma Fisher, Airlie Funds Management
Bob Desmond, Claremont Global
Joel Fleming, Yarra Capital Management
Francyne Mu, Franklin Templeton
Matthew Kidman, Centennial Asset Management
Chris Stott, 1851 Capital
Daniel Sullivan, Janus Henderson
Vihari Ross, Antipodes
Dr Philipp Hofflin, Lazard Asset Management
Marc Whittaker, IML
Mary Manning, Alphinity Investment Management
Matthew Haupt, Wilson Asset Management

Note: The information provided is not intended to be a recommendation. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.

You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.

https://www.livewiremarkets.com/wires/9-of-the-best-stocks-to-buy-in-a-sell-off

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