Some of the finest investors in the game like Warren Buffett, Peter Lynch and David Einhorn have always kept a shopping wish-list ready. They have stuck to long term value and never been in a hurry to buy. A classic example is how Buffett bought financials at the height of pessimism in 2009 and eventually reaped the benefit. As the old say goes, “Performance is temporary, but class is permanent”. It is these classy companies that you must have in your shopping list. They are the ones who will give you an once-in-a-lifetime opportunity and these are the companies you must focus on.

As Bernard Baruch famously said, “The main purpose of the stock market is to make a fool of as many people as possible”. But in the long term, quality and value will win the game. Those investors who are able to stay liquid in a crash with a ready shopping list will reap the benefit. After all, in a market that is built on hope, panic can never be permanent. It will eventually give way to optimism and help the market turn the tide. That is when your stock market shopping list will pay off handsomely.