5 High-Conviction Stocks to Buy in the Next Market Correction
It's useful to prepare a watchlist of stocks that you plan to accumulate. The markets are seeing heightened volatility in the past few months as the Federal Reserve hikes interest rates to tackle runaway inflation. With the NASDAQ Composite Index and S&P 500 already in a bear market this year, stock prices may have room to fall further. You should see a market correction as a golden opportunity to either accumulate more shares of companies you already own or to start a new position in a company that's become much cheaper.
Of course, you'll need to ensure several attributes are in place before you pull the trigger. The business needs to demonstrate steady growth, be a dominant player within its industry, and enjoy tailwinds that will allow them to continue doing well. With these characteristics in place, a buy-and-hold strategy can ensure that you enjoy steady compounding to achieve your retirement goals.
Here are five stocks you can consider buying during the next market correction.
Source Fool.com
