The Australian stock market has followed negative international leads today with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) sliding a massive 66.5 points or 1.2%. Days like these can provide investors with a fantastic opportunity to buy quality companies at heavily discounted prices.
Here are three investors should consider today…
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) has dropped 16c or 1.1% and is now trading at $14.85. Soul Patts, as it is often referred to as, is about as close to Warren Buffett's Berkshire Hathaway as Australian investors could ask for. It invests in quality, well-run businesses – its primary holdings are Brickworks Limited (ASX: BKW), TPG Telecom Ltd (ASX: TPM) and New Hope Corporation Limited (ASX: NHC) – and it has a solid reputation for buying into promising companies early.
Coca-Cola Amatil Ltd (ASX: CCL) has also dropped 10c or 1% today with shares now sitting at $9.52. The last 12 months have been anything but ideal for shareholders but the business' long-term prospects remain bright.
Even market-darling Telstra Corporation Ltd (ASX: TLS) got caught up in the market's bloodbath, tumbling 3.5c or 0.7%. Telstra offers one of the best fully franked dividend yields on the market and has solid growth prospects, making it a solid buy today.
Buying this ASX stock NOW may mean enormous profits….
Soul Patts, Coca-Cola Amatil and Telstra would all be good buys today, but there is another ASX growth stock which is even more compelling. In fact, I believe it could make you a lot of money over the next 12 months or so…
