The best time to invest in ASX shares is when prices are lower rather than when they're higher.
Coronavirus has caused a lot of human and economic pain. Share prices have seriously dropped off over the past couple of months.
Here are four ASX shares I'd buy with $10,000:
Pushpay Holdings Ltd (ASX: PPH) – $2,500
Pushpay is an electronic donation payment business. It's one of the few ASX shares to actually upgrade its earnings expectations during this tough time. As you can imagine, there are far less people going to churches in the US right now.
Being able to donate electronically as well as videostream the church service is a very attractive feature of Pushpay's service.
The company is already making profit and generating positive cashflow, so this period may just accelerate churches adopting Pushpay technology even quicker.
MFF Capital Investments Ltd (ASX: MFF) – $3,000
I think Chris Mackay is one of the best fund managers on the ASX. His management of listed investment company (LIC) MFF Capital has been very good over the past decade. ASX shares are good, but some of the best shares like Visa and Mastercard are listed overseas.
MFF Capital had sold down some shares and paid a special dividend before the sell-off started in February 2020.
MFF Capital has recently increased its cash position. Net cash at the end of April 2020 was 38.3%, so it can now heavily protect against any more market declines. The substantial cash pile means it can buy any beaten-up opportunities in the future.
I expect over the next decade it will continue to be one of the top LIC performers as it continues to have much lower fees, that are fixed, compared to other listed vehicles that invest in overseas shares.
Brickworks Limited (ASX: BKW) – $2,500
I believe Brickworks is one of the most reliable ASX shares. It has been operating for many decades and has been through plenty of tough periods already. It hasn't decreased its dividend for over forty years.
Brickworks has a solid balance sheet to help its building product divisions get through the next year which will see lower construction activity. But there are two other divisions that will help the company get through until life returns to normal.
Both the industrial property trust and investments division are expected to deliver reliable and growing earnings & cashflow to Brickworks over the long-term. They support Brickworks' market capitalisation as well as the dividend.
PM Capital Global Opportunities Fund Ltd (ASX: PGF) – $2,000
The LIC was a top performer in 2019 and has been a good performer since inception. This year has obviously been rough for almost every investor, but I believe it's very attractively priced to deliver solid long-term returns.
Today, PM Capital announced its net tangible assets (NTA) per share as at 1 May 2020, which was almost $1.10. This means the current share price of $0.89 is a 19% discount to the NTA. That's a big discount.
It also offers a trailing grossed-up dividend yield of 6.4%.
Foolish takeaway
All four of these ASX shares are looking very attractively priced to me right now. I think Pushpay could be the best buy right now, but MFF Capital's cash balance offers a lot of downside protection which is why I allocated the most money to it.