Volatile markets can eat a portfolio alive -- but they can also create real bargains for investors, according to senior editor Jeffrey Kosnett of Kiplinger's Personal Finance.
At the top of his list is Apple.
"It's been a great year for Apple's business," Kosnett told CNBC.
"Why should a stock go down 20 percent in three hours, like it did the other day? They just had the misfortune to announce their earnings on the morning of the 'great panic.'"
Then, there's American Capital Strategies.
"The easy rap on that is that we're going to have a recession," Kosnett said. "But if you look at the quality of their positions, and the kind of companies they're in, it's very diversified, and they'd have to have a lot of problems for that dividend to be impaired."
American Expressis another victim of over-reaction, he believes.