The S&P 500, America's benchmark index of 500 of the largest U.S. companies, is up 18.2%, year to date, as of this writing. Last year, the S&P 500 dropped 18.1%, but in each of the previous three years, it rose by double digits. Is a market correction or crash around the corner to be followed by a recession? The answer is: No one knows, and no one can know.

For long-term investors, it's best not to fret too much about market downturns, as they will inevitably happen now and then -- usually not lasting too long. A smart way to prepare for them is to have a ready list of stocks you'd love to own -- at the right price. Here are three such portfolio contenders. See if any or all of them interest you.

Home Depot (NYSE: HD) bills itself as "the world's largest home improvement retailer." As it sports a market value recently topping $300 billion, above Lowe's $114 billion, that's easy to believe. It recently encompassed more than 2,300 stores across the U.S. and beyond, and it employs more than 450,000 people.

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Source Fool.com