3 Stocks to Buy if You're Afraid to Buy Stocks

It's scary out there. And by there I mean the stock market.

All of the major market indexes have entered bear market territory. Concerns are mounting that a full-blown recession could be on the way. Inflation remains frustratingly high.

Fear seems to be the prevailing emotion among many investors. That's understandable. However, you don't have to be trembling in your boots about every stock. Here are three stocks to buy if you're afraid of buying stocks.

1. Vertex Pharmaceuticals

The stock market's huge downturn so far this year hasn't impacted Vertex Pharmaceuticals (NASDAQ: VRTX) in the least. Shares of the big biotech have soared close to 30% year to date. Vertex could move even higher.

Inflation and the threat of a recession simply don't matter much to Vertex. The company markets the only drugs that treat the underlying cause of cystic fibrosis (CF). Its nearest rivals are years away from having even the possibility of launching competing therapies. The bottom line is that Vertex's CF drugs will continue raking in billions of dollars regardless of what happens with the stock market or the economy.

Even better, Vertex could have a new product beyond CF on the market relatively soon. The company and its partner, CRISPR Therapeutics, plan to begin filing for regulatory approvals of exa-cel in treating sickle cell disease and transfusion-dependent beta-thalassemia within the next few months. Exa-cel could become the first gene-editing therapy to reach the market.