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October has a reputation as a cruel month for stock market investors, after massive sell-offs in 1929, 1987 and 2008. So a 1.2% drop in the S&P 500 Index on Oct. 1, followed by a 1.8% decline the next day, wasn’t an auspicious start, even if the benchmark did regain some ground later in the week. With recession talk growing and geopolitical tensions high, many investors have been raising cash and trying to lower overall risk in their portfolios.

That may prove a smart move. But pockets of opportunity still exist, according to our panel of six investment experts. Notably, most of them focus on opportunities outside of the U.S. stock markets, with ideas ranging from Indian and Chinese equities to leading industrial automation companies in Europe to actively managed high-yield corporate bond funds to gold. Bloomberg Intelligence exchange-traded fund analyst Eric Balchunas adds his suggestions on how ETFs can serve as loose proxies for themes or sectors the experts focus on, and sums up how last quarter’s picks performed.

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