3 ASX shares I want to buy in this market crash

Here are 3 ASX shares I want to buy in this market crash.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At the time of writing the ASX 200 (ASX: XJO) is down by 2.7%, with some shares down significantly down more than that.

If Altium Limited (ASX: ALU) was down more significantly than the 5% it is at the moment then I might be thinking about buying shares, but it's still to expensive – although it's getting closer to decent value!

However, the below three ASX shares could be worth buying after today's falls:

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL

The share price of one of my favourite ASX businesses is down 3.5% so far to a 52-week low. Obviously the best time to buy shares of any business is when it's lower rather than higher, so now could be a compelling time to buy.

Soul Patts has a conservative, defensive balance sheet so I think it's well-positioned to ride through any market issues and take advantage of the opportunities itself.

I love the long-term investment strategy that has resulted in beating the market's returns over multi-year time periods, although occasionally the one-year performance could be rough if its major holdings fall, which has happened to New Hope Corporation Limited (ASX: NHC) this year.

A bonus to the share price decline is that the trailing grossed-up dividend yield is now 4%.

WAM Global Limited (ASX: WGB

The WAM Global share price is down 2.4% right now. Only two days ago the discount to the NTA was 15.5% according to Wilson Asset Management's monthly NTA update.

It's hard to find good value at the moment, but I think there are two layers of value with WAM Global. The listed investment company (LIC) only holds shares it thinks are good value, and then we get a mid-teen NTA discount to those shares that are supposedly good value.

The management fees are a downside compared to cheap exchange-traded funds (ETFs), but I think the discount more than makes up for it. Over the six months to July 2019, WAM Global outperformed the MSCI World Index (AUD) by 5% before fees and expenses.

With the payments of dividends starting, I think WAM Global is a good option to consider.

MFF Capital Investments Ltd (ASX: MFF)

The MFF Capital share price is down 2.6% with its largely US-listed portfolio suffering from worries about a recession.

But, I think that the global businesses that MFF Capital invests in have brighter long-term futures than many of the domestic ASX blue chips, which is why I want more exposure to them.

MFF Capital currently pays $1 million a quarter to Magellan Financial Group Ltd (ASX: MFG) and also pays a $1 million performance fee if MFF Capital's total shareholder return exceeds 10% per annum, annually compounded. I was pleased to read in the recently-released annual report that the performance fee is being removed from 31 December 2019, which will further reduce MFF Capital's cost base.

I think MFF Capital is one of the best LICs on the ASX and well worth owning for international diversification.

Foolish takeaway

All three shares are trading at more attractive prices today. I'd be very happy to buy Soul Patts and WAM Global shares today for my portfolio, with both of them likely to be solid dividend shares into the future.

Motley Fool contributor Tristan Harrison owns shares of Altium, Magellan Flagship Fund Ltd, WAMGLOBAL FPO, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ⏸️ ASX Shares

a woman wearing a close-sitting hat featuring wires and thick computer screen glasses clutches her computer monitor and looks shocked and disturbed as she reads old-fashioned computer text from the screen.
Technology Shares

Here's why ASX 200 tech shares (ASX:XTX) outperformed today

ASX tech shares have taken a turn for the better today.

Read more »

Worker in hard hat looks puzzled with one hand on chin
Resources Shares

Why did the Rio Tinto share price (ASX:RIO) have such a lousy 2021?

We look at what happened to this ASX 200 mining giant's shares last year

Read more »

a miner wearing a hard hat smiles as he stands in front of heavy earth moving equipment on a barren mine site.
Share Gainers

Here's why the Rumble Resources (ASX:RTR) share price is climbing 5%

The mineral explorer's share price is on the rise amid promising drill results.

Read more »

share price high, all time record, record share price, highest, price rise, increase, up,
⏸️ ASX Shares

Here are the top 10 ASX 200 shares on Wednesday

Here are your top 10 biggest gainers in the ASX 200 on Wednesday.

Read more »

comical investor reading documents and surrounded by calculators
⏸️ ASX Shares

The ASX reporting wrap-up: WiseTech, Bravura, Seven Group

Just what the investor ordered. Here’s a recap of the companies that reported on Wednesday...

Read more »

Doctor performing an ultrasound on pregnant woman
⏸️ ASX Shares

The ASX reporting wrap-up: Ansell, Kogan, Nanosonics

Just what the investor ordered. Here’s a recap of the companies that reported on Tuesday...

Read more »

blue arrows representing a rising share price ASX 200
⏸️ ASX Shares

Here are the top 10 ASX 200 shares on Tuesday

Here are your top 10 biggest gainers in the ASX 200 on Tuesday.

Read more »

unhappy investor considering computer screen
Share Market News

The ASX reporting wrap-up: Charter Hall, Ampol, NIB Holdings

Just what the investor ordered. Here’s a recap of the companies that reported on Monday...

Read more »