<\/p>\n
The S&P 500 plunged<\/a> into a bear market earlier this week for the first time since March 2020, sending many investors into a tizzy.<\/p>\n According to one financial advisor, however, the sell-off could present a buying opportunity \u2014 particularly in bank and energy stocks and companies like Verizon.<\/p>\n \u201cI think any of those old-school value names right now are great to have in your portfolio,\u201d Payne Capital Management President Ryan Payne said on Yahoo Finance Live (video above). \u201cAnd don\u2019t think twice here if you\u2019re a long-term investor.”<\/p>\n The market has been on a steady decline since the beginning of the year, hammered by inflation and effects of the ongoing war between Russia and Ukraine.<\/p>\n May\u2019s Consumer Price Index (CPI) data<\/a> showed inflation has now reached a 40-year high at 8.6%, one day before the national average for a gallon of regular gas topped<\/a> $5.00 a gallon.<\/p>\n \u201cI think you buy with impunity here,\u201d Payne said. \u201cAs a long-term investor, you buy when there\u2019s blood in the streets. There\u2019s blood in the streets right now, and it\u2019s kind of like revenge of the nerds.<\/p>\n Value stocks, he said, have held up \u201cway better.\u201d These include companies like Verizon, along with Citigroup, General Motors (GM), and AT&T, which is the only stock among those listed that\u2019s up year-to-date.<\/p>\n \u201cIf you look at a portfolio of value stocks, it\u2019s down less than 10% this year,\u201d Payne said. \u201cThe only bear market you\u2019re seeing right now is in growth, disruptive technology, and bitcoin. But the reality of it is if you take tech out of the S&P 500, you\u2019re trading at 14 times forward earnings. That\u2019s so cheap. That\u2019s been as cheap as it\u2019s been in years. I think you have a gift from the gods here as a long-term investor to buy.\u201d<\/p>\n Plus, he continued, the markets have already priced in a recession, whenever that may be.<\/p>\n \u201cMost of the damage is done here,\u201d Payne said. \u201cYou may get some more selling on the downside. But at this point, how much are you going to get? \u2026 The damage has been done at this point. You can buy anywhere in here as a long-term investor,<\/p>\n<\/div>\n<\/div>\n<\/figure>\n","protected":false},"excerpt":{"rendered":" Financial advisor on the market: ‘Don’t think twice here if you’re a long-term investor’ The S&P 500 plunged into a bear market earlier this week for the first time since March 2020, sending many investors into a tizzy. According to one financial advisor, however, the sell-off could present a buying opportunity \u2014 particularly in…
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