The ASX 200 (ASX: XJO) is expected to open down quite heavily today (around 1.8%), adding onto the pain of yesterday.
But it’s days like today that could be good opportunities to buy some good shares at a discounted lower price. So if you’ve been saving up your cash for the next market fall, you’re in luck.
3 ASX Shares I’d In This Market Fall
Webjet Limited (ASX: WEB)
The online travel business may be one of the ones to suffer more than others due to its international earnings and somewhat discretionary earnings.
But I think the current share price could be a long term opportunity because the business is growing its WebBeds at a fast pace away from the troubled Thomas Cook. A growing profit margin will hopefully make up for any short term revenue slowing.
Before trading starts, Webjet is valued at just 12 times the estimated earnings for the 2021 financial year.
Altium Limited (ASX: ALU)
Altium is a software company that helps engineers create products like the newest cars, space vehicles, devices, tractors and so on.
The business is rated as one of the top growth shares on the ASX because of its high and growing profit margins, its no-debt balance sheet, its growing dividend and its growth tailwind. Altium can profit from the internet of things advances that are happening in the world.
Before trading starts, Altium is valued at 37 the estimated earnings for the 2021 financial year.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
If you’re feeling brave and want to invest on a day like today, but you’re still unsure about the direction that the US economy is heading then WHSP could be a good option to consider.
WHSP’s role is to invest in listed and unlisted businesses for the long term and generate good cashflow. It’s been running for over a century and has paid a dividend every year – including through the wars – so it’s pretty reliable.
The dividends and capital gains that WHSP has made over the past 15 years has strongly outperformed the ASX and this could continue with diverse holdings like TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and Australian Pharmaceutical Industries Ltd (ASX: API).
Summary
I already own Altium as a sizeable part of my portfolio, so I’d want the price to fall further before buying more. Webjet could be the one to produce the best returns over the next three years, but WHSP is my pick today because it’s trading cheaper than its assets and it usually performs well in downturns.
Other reliable shares that could be good performers if there’s a global downturn are the ones revealed for free in the report below.
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Disclosure: Jaz owns shares of Altium and WHSP at the time of writing, but this could change at any time.
