Some stocks are darkest just before the dawn, says Al Frank Asset Management chief portfolio manager John Buckingham.
He offered investors some enlightenment on which beaten-down names have a bright future.
Cisco shares dropped sharply in November when Chief Executive John Chambers rattled investors with a worried outlook. Now it's happened again -- but Buckingham is optimistic about the tech giant.
"Cisco's looking at 12 to 17 percent growth, and investors do get too caught up in the short term," he explained to CNBC. "They're having a hiccup here; maybe it lasts a quarter, maybe it's two quarters, but in the long run, I think you want to be a buyer of Cisco here."
Another seemingly counter-intuitive Buckingham pick is developer and construction company Perini.
"The stock has lost half its value from its 52-week high; you're still looking at earnings of over $3.50 a share this year," he said.
"Perini has a fantastic balance sheet. I know a lot of people don't pay attention to balance sheets, but they've got over 13 dollars a share in cash, net of a modest amount of long-term debt."