The Top 3 Contrarian Stocks to Buy Right Now
When you're investing for the long term, it can sometimes pay to buy beaten-down stocks that have fallen into disfavor. Companies being hit by a slew of bad news aren't necessarily doomed to fail, even if the market might seem to think so at the moment. Buying stock in a company when it's at a steep bargain makes its eventual recovery all the sweeter for your investment portfolio. That's basically the defining characteristic of contrarian investing.
To make the strategy work, it's important to recognize that picking contrarian stocks can take a few years to pay off. But picking the right one can make that patience pay off.
With the current economy in recession, there are plenty of potential companies out there to take a contrarian position in. But I want to focus on just three for this article. All three of these companies have had a terrible 2020 and there's no guarantee that they will ever regain their former greatness. But there is reason to believe that they still might at least beat the market over the next decade.
Source Fool.com
