“Paul Larson, editor of the Morningstar StockInvestor newsletter, says that the market volatility investors are living through right now is two or three times more severe than most investors have ever experienced, and is enough ‘to churn your stomach, even if you have a steel stomach,’” MarketWatch reports.

“In an interview with Chuck Jaffe, MarketWatch senior columnist, Larson said that Americans are deleveraging and starting to get themselves out of debt at the same time that companies and investment firms are doing the same thing, moves that may be good for the economy in the long haul but which make events particularly painful now,” MarketWatch reports.

“Larson said that when it comes to the market, he’s looking for discounts on high-quality, low-risk names… ‘One silver lining is that there are many very high quality companies out there with rock-solid balance sheets that are trading at incredibly cheap prices.’ Larson recommended buying Apple (AAPL) and MasterCard (MA),” MarketWatch reports.

Listen to the “Your Money with Chuck Jaffe” podcast here.