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Buy & Hold These Oversold Names

Robert Zagunis is not looking for an overnight recovery, but he suggests it just might be a perfect time to buy stocks Some familiar names top his list.

"I think it's going to be a while before the iceberg of the liquidity crisis starts thawing and starts having some impact," the co-portfolio manager at Jensen Investment Management told CNBC — but he quickly added, "When the market moves, it's going to move fast."

Recommendations:

Zagunis has a couple of ideas about where an investor's money should be when the market makes a fast move.

"Wells Fargo," he said. "I think that Wachovia acquisition will be a very good move for them; they're buying it at less than one time book value."

He also likes General Electric.

"GE is a triple-A credit, having a 6 percent dividend yield, and they're doing all the right things," he said. "Granted, they were painted with the same brush as the financials — GE Capital is such a large part of their business — but I think it's way overdone."

(Learn more — watch the video interview, above.)

Disclosure:

Disclosure information was not available for Zagunis or his firm.
General Electric is the parent company of CNBC.com.

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