Cozad Asset Management's Ron Kiddoo thinks there's an upside to the downside.
"I think we're facing a recessionary economy, so we would look at recessionary stocks, such as in health care and consumer staples," he told CNBC. "Perhaps a little bit in the industrial sector, if we really believe we're going to be coming out of the recession; it might be a little early to get into that sector, but that would be a sector we'd be going into at the present time."
Among health-care stocks, Kiddoo likes Teva and Johnson & Johnson for their involvement in generic medicines.
He also favors medical suppliers such as artificial joint-makers Stryker and Zimmer.
- Learn more: Watch the whole Kiddoo interview
Disclosure information for Ron Kiddoo was not immediately available.