Since the S&P/ASX 200 Index (ASX: XJO) bottomed out on 23 March, we have seen ASX shares rally by almost 16% – going off today's level.
Many investors would be hoping we have seen the last of the red ink in this ASX bear market.
But unfortunately, 'false recoveries' are quite common in bear markets – just look at what happened during the GFC in 2008!
So I'm hoping we don't see any more brutal falls, but here's what I'll be buying if this bear market gives us a 'double-dip' crash.
Ramsay Health Care Limited (ASX: RHC)
Ramsay Health Care is a private hospital owner and operator, which gives it a vital role in the efforts to control the coronavirus today.
Despite this company being on the front line of this fight, I still think an investment case is compelling due to the demographics of our ageing population and its long history as a wealth creation company. Ramsay is also one of the few ASX dividend shares to give shareholders a pay rise every year since 2000.
I already own shares of Ramsay, but I'll be looking to top up my holdings if the market sells this company off in the future.
VanEck Vectors Wide Moat ETF (ASX: MOAT)
This exchange-traded fund (ETF) invests in US shares that it deems possess an 'intrinsic competitive advantage' – or what Warren Buffett likes to call a 'moat'. This means that only the best US companies get to be held in this ETF, which I am more than ok with! Current holdings include household names like Amazon.com, Intel, Kellogg, Microsoft and Nike.
Buying individual US shares yourself can be tricky, but this ETF gives you easy access to a basket of the best ones (in my view) in one easy stock. If this ETF goes on sale, I'll be adding to my holding with gusto, knowing I'm getting a whole bunch of bargains in one buy!
CSL Limited (ASX: CSL)
CSL is a stock that's been on my watchlist for years now. Unfortunately, CSL's share price is always a little too high for me to consider an investment, and this has continued despite CSL coming off its record highs that were seen in February. Even today, the company is asking a price-to-earnings ratio of 43.14 – way above the market average of around 15.
CSL would have to drop considerably for me to invest, but I'm hoping that it eventually does in this bear market. CSL is a high-quality company with a growing dividend that operates in an evergreen market – placing it firmly on my watchlist!
