Stock Picker: 'Now Is the Time' to Shop Fire Sales
Pessimists look at the market and see the glass more than half empty. Jeff Auxier of Auxier Asset Management sees quality stocks selling at fire-sale prices.
"What we try to do is, identify the businesses we really want to own," he told CNBC. "This is the time to identify the greatest companies, high-quality businesses that are always too expensive, and when everybody's fearful, now is the time."
Auxier's list includes Walmart, McDonald's , Philip Morris International, and Kroger.
Predictability is also a key component of stocks that Auxier now finds attractive.
In that category he includes Paychex and Automatic Data Processing.
Disclosure information for Jeff Auxier was not immediately available.