While it's impossible to absolutely time a bottom in the markets, when the market is down, economic news is the scariest, and you feel least like buying, history has shown that tends to be a great long-term opportunity.

High-multiple growth stocks fell hard late last year as interest rates rose, but cheaper, dividend-paying cyclical stocks have plummeted more recently, as investors fear that central banks and geopolitical events may put the economy into recession.

However, even high-quality cyclical names with staying power have become really cheap, with compelling shareholder returns when adding up their dividends plus share repurchases -- like the the following three stocks.

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Source Fool.com