If someone told you a car is selling for 25% off, you would jump at the chance to purchase new wheels.
So why wouldn't you do the same for quality S&P/ASX 200 Index (ASX: XJO) shares?
Check out these two stocks that Catapult Wealth portfolio manager Tim Haselum reckons are absolute bargain buys at the moment:
Don't sleep on this bargain stock
Sleep apnoea device maker Resmed CDI (ASX: RMD) has seen its share price nosedive 27.1% since 2 August.
Investors were apparently put off by a drop in margin in ResMed's latest financial update.
"The medical device maker reported revenue of $4.2 billion in full year 2023, up 18% on the prior corresponding period. Income from operations increased 13% to $1.131 billion," Haselum told The Bull.
"However, the gross margin contracted by 80 basis points to 55.8%."
The portfolio manager is not too worried about its worthiness as a long-term investment.
"Moving forward, we expect margins to recover, as supply chain issues subside," he said.
"In our view, share price weakness provides a buying opportunity."
Wilsons equity strategist Rob Crookston agreed with that view a couple of weeks ago.
"Our medium and long-term view remains intact with RedMed still well placed to carve out permanent CPAP market share gains from the Koninklijke Philips NV (AMS: PHIA) recall, while gross margins should improve over time as AS11 supply builds."
An amazing 19 out of 25 analysts currently surveyed on CMC Markets reckon ResMed is a buy right now.
'Downside is more than priced in'
The last month has been similar to ResMed for Charter Hall Long WALE REIT (ASX: CLW) shares.
Since 1 August the ASX 200 stock has plunged more than 15.6%.
Again, some cracks in the 2023 results struck fear into the hearts of investors.
"In financial year 2023, CLW reported a 10.6% increase in net property income compared to the prior corresponding period," Haselum said.
"However, operating earnings per security and distribution per security were both down by 8.2%."
With interest rate rises about to stop, the portfolio manager is tipping that the real estate stock has been punished enough.
"We expect Charter Hall Long WALE to sell assets to reduce gearing.
"We believe the downside is more than priced in, and recent share price weakness provides a buying opportunity." Charter Hall is currently paying out an unfranked 8.3% dividend yield.
