"Be greedy when others are fearful and fearful when others are greedy."
--Warren Buffett
If we are to take anything away from the Oracle of Omaha, it would be that shrewd investors should be licking their chops right now. The market is down more than 10% since July 25, and there are deals to be had.
I've highlighted before that buying or selling stocks while in a passionate state can absolutely ruin your portfolio. So below, I'm offering five stocks that look like good deals to me.
I suggest you read them over, do your due diligence, and then -- in a cold and dispassionate state -- make a decision about whether to act on this advice.
If it makes you feel any better, all seven of these are companies that I hold -- or will soon hold -- in my own portfolio, with no intentions to sell.
National Oilwell Varco
Anything associated with oil or energy was hit hard on Thursday. National Oilwell was no exception, falling more than 10%. While a slowing economy will certainly decrease demand for oil, that demand isn't going to disappear overnight. This is an ax-and-shovel play that will help upgrade the world's aging rigs.
Berkshire Hathaway
As others who are far smarter than me have mentioned before, Berkshire Hathaway's stock is cheaper now than it's been in a long time. With or without Warren Buffett, this conglomeration of businesses has rock-solid financials that will be able to weather any storm that comes our way.
PriceSmart
PriceSmart is a company that has two very broad trends working in its favor. First, the standard of living is growing in South and Central American countries. This "Costco of the South" provides the kind of goods that people want. Second, more and more baby boomers are retiring to tropical locales where PriceSmart operates. If things get even tougher around here, expect that trend to accelerate.
Intel
As fellow Fool Morgan Housel recently pointed out, Intel is in a funny place within the Dow Jones Industrial Average. It has one of the highest dividend yields and one of the highest expected growth rates of the 30-stock benchmark. That's good enough reason for me to suggest it in just about any market environment.
lululemon athletica
Finally, you might think I'm crazy for promoting a high P/E, high-growth stock like lululemon during times of doom and gloom. But think about it: Whether we like it or not, there are two different economies at work here -- the haves and the have-nots. The haves are doing just fine. lululemon's customers are decidedly in the "haves" column. So while everyone is talking about panic in the streets, expect customers to continue buying their high-priced yoga gear from this retailer.
Get your bargains here!
Hopefully, these five ideas offer a good starting point -- especially if you've been sitting on cash and waiting to deploy it for a moment like now. If you'd like one more idea to add to your watchlist, I'm willing to offer you access to a special free report -- The Motley Fool's Top Stock for 2011. Inside, you'll find out about the little company set to profit from the broadband Internet expansion. It's yours today, absolutely free!
