The red ink started to flow with Monday's opening bell on Wall Street. Holland & Co.'s Mike Holland urged investors to stay with the best names as the best strategy to survive the bear market.
"Nobody will know when this thing is over," he told CNBC. "It could be a long time from now, or a short time, but in any case, what we do have is fear throughout the world markets."
Holland continues to like General Electric, despite its plunge to levels no one has foreseen, and he also recommends Google.
"Companies that will survive this incredible tsunami of economic stuff throughout the world, companies that have fortress-like balance sheets and very interesting growth possibilities once we get through this...those are the kind of companies that I want to own when we come out of this," he said.