High-quality companies often get trounced almost with the same severity as lower-quality names during market washouts, and that means there are some buying opportunities, especially in mid-cap stocks, portfolio manager Brian Angerame said Tuesday.
"Times like this you want to keep your head," said Angerame, who manages the Morningstar four-star rated ClearBridge Mid Cap Core Fund, with $1.5 billion in assets under management.
While he thinks the market will continue to bounce around, he said there are mispriced mid-cap stocks out there.
"In mid-cap there are always unloved or underappreciated companies," he told CNBC's "Power Lunch."
Angerame typically invests in companies that generate predictable free cash flow, have time-tested management teams and have strong balance sheets. That way they can weather things like a credit crisis, confidence crisis or recession, he said.