NEW YORK (Real Money) -- We have been making the worst of a bad situation. We are presuming that everything is too high until proven innocent. We have decided that whatever can go wrong will go wrong. And at one point, because of those entirely and decidedly too gloomy views, we saw panic, sheer raw panic, the kind you get when investors really give up and capitulate because they can't take the pain any longer.
You know what I say: Nobody ever made a dime by panicking, and plenty of people have made a dime taking the other side of the panic. A panic occurs when those with weak hands throw out their stocks all at once in a violent fashion -- all of their stocks good and bad -- and you get to pull some babies out of the bathwater.
Must Read: Warren Buffett's Top 10 Dividend Stocks
So I am taking the other side of the panic trade and giving you some babies to save from the drain. I think I have earned the right to tell you that some sectors are now buyable. You know I have been no bull during this period. I have openly castigated the industrials and I have felt that any of the commodities as well as any commodity producers would get crushed. Commodities are in a vicious bear market.
Companies that sell into Europe, Latin America and Asia have gotten hammered, and I have said, "Let them be hammered." They are down for political and medical reasons, and I don't see those reasons resolving themselves anytime soon.