Warren Buffett has always had a simple philosophy.
Be greedy when others are fearful.
Right now, there’s definitely a lot of fear in the market.
A number of high-quality ASX shares have been pushed down to 52-week lows or worse, not necessarily because their long-term outlook has changed, but because sentiment has shifted.
That doesn’t guarantee anything. But it does create an environment where buying quality at a more-than-fair price becomes possible.
Here are four ASX shares I’m seriously considering adding to my portfolio at current levels.
Sigma Healthcare Ltd (ASX: SIG)
Sigma is a very different business today than it was a few years ago.
The Chemist Warehouse merger has transformed its position, giving it exposure to one of Australia’s most recognisable pharmacy brands.
What I find interesting is that the market is still assessing the combined business’s earnings power.
There’s potential for improved margins, better scale, and stronger earnings, but that story may take time to fully play out.
With the share price under pressure, I think this is one where patience could be rewarded.
Cochlear Ltd (ASX: COH)
Cochlear isn’t usually a stock you see trading at such low levels.
It’s a global leader in hearing implants, backed by decades of innovation and a strong reputation in healthcare.
The long-term drivers here haven’t changed. Demand for hearing solutions continues to grow, supported by ageing populations and increasing awareness. A new product launch also looks likely to underpin growth and cement its leadership position.
Short-term weakness in the share price doesn’t alter that.
For me, this looks like a high-quality business that could catch the eye of Warren Buffett.
WiseTech Global Ltd (ASX: WTC)
WiseTech has been one of the biggest fallers, with its share price down sharply over the past year.
A lot of that seems tied to concerns around artificial intelligence (AI) and how it could impact software companies.
But I see it differently. WiseTech is embedding AI into its platform to automate workflows and improve customer outcomes. That could actually strengthen its position rather than weaken it.
The business still has a global footprint, strong annual recurring revenue (ARR), and a deeply embedded logistics platform.
At current prices, I think the risk-reward is looking compelling for buyers.
Flight Centre Travel Group Ltd (ASX: FLT)
Flight Centre is another cheap ASX share I’d consider buying.
Travel demand can move with economic conditions, but it’s also a business that has shown it can adapt and recover.
What I like is that the company has streamlined its operations and is now operating more efficiently than it did in the past.
If travel demand remains resilient, there could be meaningful upside from here.
It’s not without risk, but after a meaningful pullback, I think it’s worth considering.
Foolish takeaway
Markets don’t often give you the chance to buy multiple high-quality ASX shares at low prices.
But it has done exactly that with Sigma, Cochlear, WiseTech, and Flight Centre shares.
For me, this is one of those moments where Warren Buffett’s advice feels especially relevant. When quality shares are trading at prices above fair value, I think it can pay to lean in rather than step back.
The post I’m listening to Warren Buffett and loading up on cheap ASX shares appeared first on The Motley Fool Australia.
Should you invest $1,000 in Cochlear Limited right now?
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* Returns as of 20 Feb 2026
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More reading
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- One ASX growth stock down over 50% to buy and hold
Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Cochlear and Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.