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Tickers in this Article: GOOG, DIS, BRK.A, BRK.B, KO, C, JPM
With the market correction of roughly 10%, some good stocks are approaching undervalued territory. If you are a long-term fundamental investor, this is your chance to begin picking up some bargains. There is value in sight.

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(Nasdaq:GOOG), which modestly describes itself as "a technology company," in the way that Walt Disney (NYSE:DIS) might be described as "a cartoon mouse company," has seen its stock price fall from its high of $629.51 to $485.23 recently. This has brought its current P/E down to just over 22, and its forward multiple to 16. Given the company's hefty projected ongoing earnings growth rates, pegged at 18% and 15% for the next couple of years, its stock price is looking more attractive. For those who've waited for the stock price to come down, this level and anything further down represent an opportunity to capture growth and value.

A staple of Warren Buffett's Berkshire Hathaway (NYSE:BRK.A, BRK.B), soft drink giant Coca-Cola (NYSE:KO) is an attractive stock for the long term. It pays a dividend currently yielding 3.44%, and sells at a P/E of 16.91, but a forward P/E of only 13.71. The euro crisis may cut down its overseas business, and there are with currency risks along with some lesser long-term risk of a secular soda consumption decline. These concerns are outweighed by the steady growth in the business of this juggernaut, as well as its history as a free-cash flow machine and its attractive dividend. Shares can be a bit pricey, so this 13% decline off the top should at least get the attention of value buyers.

JPMorgan Chase
Take my bank, please. That seemed to be the cry of the financials after the 2008-2009 meltdown. While many of the pros are piling back into Citigroup (NYSE:C), including a recent purchase by hedge fund manager Bill Ackman, JPMorgan Chase (NYSE:JPM) is a better company right now on fundamentals.With EPS of $2.59 and a stock price that's come down from $48.20 to $39.58 recently, JPMorgan may be a more solid prospect than Citi, still. Citi stock, because of its big investors and what was strong government backup, may make more as a trade in the short run, but for bargain hunters in the financials, JPMorgan should do well without as much short-run risk. Even with financial regulatory reform or some other bumps and bruises going forward, JPMorgan's earnings should roar in the recovery. (Learn more about the meltdown, see: The Fuel That Fed The Subprime Meltdown.)

The Bottom Line
Always have a shopping list of good stocks you want to buy; have some ready cash available if you can, and when you get a good price that matches what you have decided you want to pay for the stocks you've already intensively researched, be prepared to buy. That's where you make your money.

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