At least two five-star fund managers are looking past this week's market gyrations and offering investors what they think are some promising stock opportunities.
Michael Lippert of Baron Funds focuses on some Internet-related equities, while Michael Cuggino of Permanent Portfolio Funds sees biotech as a buy.
Lippert likes online diamond retailer Blue Nile.
"They're taking massive share from their competition," he told CNBC. "The online business model is just better than the offline model."
He also recommends Equinix.
"They operate data centers that act as on-ramps of the Internet, so everything that's driving Internet growth is driving their business," he said.
Cuggino's biotech names include Amgen.
"On Aranesp, we're hearing some news out of the FDA today," he said.
Aranesp and other anti-anemia drugs had combined sales of more than $6 billion last year.
"Genentech's another good name, especially recently, with their news on Avastin for breast cancer," he added.
The government's approval of Avastin to treat breast cancer earlier this year came as something of a surprise. Avastin had already been approved for the treatment of lung and colon cancer.
"Biotech's an area that's a little bit more defensive, but still hasn't participated in growth over the last several years, so it should, going forward," Cuggino said.