A rout in global markets this week has led analysts to believe a short-term market correction is upon us. But rather than cutting their losses, some have told CNBC how they plan to make money, adding that such a correction can be "healthy".
"It's going to be a correction to clean up the froth. And that's what really needs to happen," Bill Smead, chief executive and chief investment officer at Seattle-based investment advisor Smead Capital Management told CNBC Tuesday.
Paul Kavanagh, partner and senior market strategist at investment advisor Killik & Co, believes that investors can tell more about the market when it's in a correction.
"When you get a down market, I tend to enjoy these days. The reason being I think you can tell a little bit more about the market when it's tested," he told CNBC.
(Read More: US stocks starting off 2014 in correction mode?)
Housing is a sector that both analysts said they have been looking at. In the U.K., government stimulus measures that hope to boost the number of new homes being built have coincided with a 5.5 percent year-on-year rise in prices. Kavanagh believes that this market will see volume growth in the next four or five years and urged investors to buy stocks on this dip.
Smead, meanwhile, felt the same on the state of U.S. housing which has shown flickering signs of recovery in 2013. Housing starts in the U.S. surged to a six-year high in December. Smead, believing that the U.S. is on the verge of a renewed increase in demand for new homes and added a builder to his investment portfolio in December.