You love buying your shirts when they go on sale. And who can resist a buy-one, get-one-free offer? So when our stocks go on sale, why do we bemoan their low prices?

Smart investors like Warren Buffett or Marty Whitman love it when their stocks are suddenly selling at bargain-basement prices. For them, these companies become no-brainer buys.

The investors in the Motley Fool CAPS community also like a bargain, apparently. Below, you'll find three companies whose shares are selling at least 50% below their 52-week highs, but which still earn high honors from our investor-intelligence database. Consider it a BOGO sale on stocks.

Stock

CAPS Rating 
(out of 5)

% Off 12-Month High

Allied Irish Banks (NYSE: AIB)

****

73%

National Bank of Greece (NYSE: NBG)

****

68%

Telestone Technologies (Nasdaq: TSTC)

****

55%

Naturally, we want you to look a bit closer at these stocks before buying. You can get low-priced appliances in the dent-and-ding section of your home-remodeling superstore, but their quality might not be so good. Same thing here: Make sure there's nothing seriously wrong with the company before you plug it into your portfolio.

Take two; they're small
It's not much of a surprise that Allied Irish Banks and National Bank of Greece are on a list of stocks that have been brutalized by the market. Their countries face challenges with their debts, and while they each have different risk profiles, they are seen as emblematic of the financial straits in Europe.

It may be more surprising that Banco Santander (NYSE: STD) hasn't been decimated like its peers, considering the threat it faces from both Spain and Portugal. Standard & Poor's is worried enough that it put the bank and some of its peers on credit watch with negative implications.

While Allied Irish Banks and Bank of Ireland (NYSE: IRE) recovered somewhat this week after the country accepted the European Union's bailout and moved toward adopting an austerity plan, it might be too little, too late. CAPS member 2gud2btrue suggests Bank of Ireland is the safer play.

Junk......
If you want to play on irish shares IRE is much better bet.
AIB is doomed, all share holder value will eventually be written off.

Yet CAPS All-Star Matt8265 says that even that bet is too risky, and National Bank of Greece would be better: "Yes, has taken its lumps. I'm selling IRE and buying NBG."

A reserve player
Management's decision to offer 1.67 million shares priced below the stock's market price continues to weigh on Telestone Technologies. Yet with business booming, CAPS member pmony5 is expecting the company to overcome this temporary setback.

Their Proprietary WFDS product is just starting to take off & coming off 100% growth rate last year & 80% this year with 3 new products rolling out next year & trading at [five times] this years net income is insanely cheap

There seems to be enough cause for hope here. Telestone counts the Big 3 Chinese mobile operators -- China Mobile (NYSE: CHL), China Telecom, and China Unicom (NYSE: CHU) -- as its biggest customers. So big, in fact, that they account for more than 95% of its total revenues. With such customer concentration, there is the danger that one or more of them could reduce or pull their business with the wireless network provider.

Yet Telestone has maintained relationships with the carriers for more than 15 years, and as China migrates from 2G networks to 3G (and eventually to 4G), those relationships will prove valuable.

Only you can decide whether Telestone is right for your portfolio. Add it to Fool.com's free portfolio tracker and have all the news and analysts gathered for you in one place.

Have half a mind
Sign up today for the completely free CAPS service and tell us whether these stocks are twice as good at half the price.

China Mobile is a Motley Fool Global Gains selection, and the Fool owns shares of China Mobile. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Rich Duprey does not have a financial position in any of the stocks mentioned in this article. You can see his holdings. The Motley Fool has a disclosure policy.