Where experts are finding safety in turbulent market

Seeking a secular tailwind: Pro

Investors looking for safety in this volatile market should look at companies the market is overlooking or brand names that are now discounted, financial advisor Chris Cordaro said Tuesday.

"I want really big cash generators in my portfolio to buffer out the bottom," the chief investment officer of RegentAtlantic Capital said in an interview with CNBC's "Closing Bell."

That means names like Wal-Mart and Apple, which have really strong cash flows, are well off their highs, he noted.

The major averages ended in correction territory Tuesday, down nearly 3 percent. It was their third-largest daily decline for 2015 and the Dow Jones industrial average and S&P 500's worst start to September in 13 years.

Cordaro also thinks the market is overselling The Williams Cos., which consolidates and moves natural gas throughout the country.

"I think [the market] is discounting its growth potential going forward and at a 5 percent dividend yield, that gives you a lot of safety," he said.

David Darst
Go in and buy now: David Darst
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However, just because there is yield doesn't necessarily mean a stock is a safety play, warned David Nelson, chief strategist at Belpointe Asset Management. That's because that yield can be wiped out in a hour, he said.

"What I want to look for is something that is going to survive this and yet when the market finally does turn, we're going to get some capital appreciation," he told "Closing Bell."

He likes Facebook, which he said is seeing great growth in ad revenue. He also likes American Eagle Outfitters, which keeps "banging it out of the park," and United Health.

CNBC's Crystal Lau contributed to this report.

Disclosures: FB UNH AEO are long in funds David Nelson manages for Belpointe. Chris Cordaro and RegentAtlantic Capital own WMT, AAPL. RegentAtlantic Capital owns WMB.