By Jessica Wee

With global markets taking a tumble everyday, the legitimate question to ask is whether it’s time for a shopping spree or if you will be catching a falling knife.

As of May 20, the S&P Index of 500 of America’s biggest companies was down a sizable 18% year to date. The Nasdaq stock market was down much more — 27%. Big drops understandably get many investors rattled, sending them heading for the doors. Indeed, lots of investors selling is what sends the overall stock market south in the first place.

If you are following Warren Buffet’s sentiment but cannot afford to spend USD51bil, take this time to scoop up some of those stocks which you have been waiting to buy on a dip.

Here is the shopping list of his new positions this year.

Citigroup
Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City.
Market Cap: USD102bil
P/E: 6.1
Dividend: 3.9%

Paramount Global
Paramount Global is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements and headquartered at One Astor Plaza in Midtown Manhattan, New York City, United States.
Market Cap: USD20.7bil
P/E: 5.3
Dividend: 3%

Ally Financial
The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and an electronic trading platform to trade financial assets.
Market Cap: USD12.7bil
P/E: 4.8
Dividend: 3.1%

Chevron
Chevron Corporation is an American multinational energy corporation. One of the successor companies of Standard Oil, it is headquartered in San Ramon, California, and active in more than 180 countries.
Market Cap: USD339bil
P/E: 16.2
Dividend: 3.3%

Occidental Petroleum
Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States, and the Middle East as well as petrochemical manufacturing in the United States, Canada, and Chile.
Market Cap: USD61bil
P/E: 9.9
Dividend: 0.8%

HP
The Hewlett Packard Enterprise Company is an American multinational enterprise information technology company based in Spring, Texas, United States.
Market Cap: USD19bil
P/E: 5.2
Dividend: 3.3%

Activision
Activision Blizzard, Inc. is an American video game holding company based in Santa Monica, California. It was founded in July 2008 through the merger of Activision, Inc. and Vivendi Games.
Market Cap: USD60bil
P/E: 24.4
Dividend: 0.6%

Don’t buy stocks now if…

you’re carrying much high-interest-rate debt; pay that off first. You might hope to earn 10% or 12% or more, on average, annually in stocks, but that’s not guaranteed — and if you’re paying 16% or 20% or 25% in interest on your debt, you’ll lose ground.
you don’t have an adequate emergency fund ready. You should aim to have at least three months’ worth of all living expenses available in case you lose your job or have a costly health setback or even just need a new transmission. To be more conservative, have more than three months’ worth available.
you can’t handle risk. The stock market will always be volatile, to some degree. There are stock market crashes or corrections (drops of more than 20% or between 10% and 20%, respectively) every other year or so on average.

But the market has always recovered after a drop, and there are few better ways to build wealth over many years than in stocks, so consider reading up on stocks and investing, to get more comfortable with the idea. For example, you need to know not to put any money in stocks that you’ll need within the next five or so years — because you don’t want an unexpected market downturn just before you need to sell.