Usually, investors ought to consider investments based on their fundamental resilience and implied upside value, not necessarily because they’re cheap stocks to buy for a quick buck. However, it’s also true that not every investor has the same goals and directives. Indeed, many speculators may be pressed for time. If that’s you, these ideas might get your creative juices flowing.

Before we begin, it’s important to note that I’m not simply picking out random cheap stocks to buy for a quick buck. Rather, these ideas are tied to potentially relevant and longer-term catalysts. Additionally, some offer a contrarian take on established understandings. Because of these and other factors, they might pop faster than other securities.

At the same time, it’s also risky to go off the beaten path. Further, with possible recessionary circumstances on the horizon, taking a risk gone bad might cause serious pain. Therefore, consider these cheap stocks to buy for a quick buck as speculation.

Petrobras (PBR)

A Brazilian oil and gas firm specializing in the exploration, production, refining and transport of domestic petroleum and petroleum products, Petrobras (NYSE:PBR) is arguably one of the most compelling cheap stocks to buy for a quick buck. Priced a few cents under $15 at the time of writing, PBR hits the psychological sweet spot: not too cheap (where it becomes worrisome) but not too expensive either.

More importantly, GuruFocus considers PBR to be “modestly undervalued” against a basket of valuation metrics. In particular, the company’s forward price-to-earnings (P/E) ratio of 3.12 times is subterranean. The industry median is 9.68. Additionally, Petrobras features excellent growth and profitability metrics. One notable metric is its net margin, which at 28.4% stands much higher than the industry median of 3.7%.

For me, though, the biggest factor comes down to geopolitics. With the crisis in Ukraine likely to worsen before it improves, Russia will likely play hardball with the west. Further, winter is coming, which means greater demand for hydrocarbon products.

Volkswagen (VWAGY)

In another article I wrote for InvestorPlace regarding opportunities to consider this week, I mentioned General Motors (NYSE:GM). Primarily, the company features a compelling mix of electric vehicles and combustion-powered cars. However, since I already talked about GM (and because it’s priced above $39), I must consider an alternative. For cheap stocks to buy for a quick buck, my vote goes to Volkswagen (OTCMKTS:VWAGY).

Priced a bit above $18 at the time of writing, Volkswagen shares may not be the cheapest idea here. However, the company arguably brings solid value to the table. For instance, its forward P/E ratio stands at 4.24 times, significantly lower than the industry median of 10.26 times. Further, its price-to-earnings-to-growth (PEG) ratio is 0.52, below the industry median of nearly 1.9.

However, Volkswagen could be one of the cheap stocks to buy for a quick buck because of economic realities. For instance, recessionary pressures may motivate workers to return to the office to avoid standing out. But that might require a new set of wheels. Because Volkswagen can offer both combustion and electric vehicles (EVs), it’s well-positioned for this fundamental backdrop.

Mercedes-Benz (DMLRY)

If you want to take a potshot with an automaker, you may want to turn your eyes to Mercedes-Benz (OTCMKTS:DMLRY). While Mercedes may be one of the most iconic companies in the world, it doesn’t feature an iconic equities price. Trading hands at about $14 at the time of writing, it qualifies for the price component of cheap stocks to buy for a quick buck.

But what about the time component? Here, the argument transitions to a speculative framework. Given that sentiment for speculative vehicles remains stubbornly strong, some traders could view DMLRY as a contrarian opportunity. Down nearly 40% on a year-to-date basis, it’s begging for a bounce back.

Fundamental factors support this narrative too. Currently, the company sports a forward P/E of 2.82 times, again below the industry median 10.26 times. As well, Mercedes features a social cachet that many other auto brands lack. Therefore, the company could snake off some upper-middle-class income, which may be relatively insulated from recessions.

Sumitomo Mitsui (SMFG)

People are going to think I’m absolutely nuts when I bring up Sumitomo Mitsui (NYSE:SMFG) as one of the cheap stocks to buy for a quick buck. Sure, it’s “cheap” (priced a few cents above $6 at the time of writing). But a quick buck? Nothing about the underlying Japanese market is quick, especially its decades-long battle with deflation. Still, let me lay out my thought process

As the Wall Street Journal pointed out recently, “Japan’s economy recovered its prepandemic size in the April-June quarter thanks to strong consumer spending and higher exports.” To be fair, the WSJ states that inflation may hurt sentiment later this year. Still, progress is progress.

Unfortunately for companies like Sumitomo Mitsui, it’s not receiving any credit, likely because of the Japanese market’s reputation. However, if you’re a forward-thinking contrarian, an opportunity might exist here. Further, do note that Sumitomo offers solid value. It sports a forward P/E of 7.65 times, lower than the industry median of 9.65.

UBS (UBS)

In theory, UBS (NYSE:UBS) — a multinational investment bank and financial services firm — represents an ideal play in the new normal. Recently, Federal Reserve chair Jerome Powell warned about “some pain” to the U.S. economy. Noting concerns about multidecade highs in inflation, Powell is determined to raise rates to tackle soaring consumer prices. All other things being equal, higher rates translate to higher profitability for financial services.

However, all things are not equal. Higher borrowing costs equate to fewer incentives to borrow money. In turn, business activity may decline, putting pressure on virtually every sector. So, why consider UBS as one of the stocks to buy for a quick buck? It comes down to wealth management.

You see, a monkey throwing darts can pick winners in a raging bull market like we had throughout 2021. Show me someone that can make money consistently during bear markets, and that’s the person you want to follow. My speculation is that UBS’ wealth management team has analysts on its payroll that do exactly that.

Admittedly, this thesis may take time to materialize. But it’s worth considering if you’re also interested in cheap stocks.

Vodafone (VOD)

If you want a high-risk, high-reward name among cheap stocks to buy for a quick buck, you may want to consider Vodafone (NASDAQ:VOD). A British multinational telecom firm, Vodafone owns and operates networks in 21 countries after the company recently sold its Hungarian unit. Still, the main attraction here is the resilience of the industry.

Of course, running a major telecom business means overcoming a significant barrier to entry. With relatively few companies offering viable choices for consumers, telecom firms can better pass down costs to their customers. In contrast, retail firms in discretionary categories can’t do that. Unlike connectivity solutions, wearing the trendiest fashion or owning the latest gizmo or gadget isn’t that important.

Furthermore, Vodafone is relatively undervalued. Its price-to-free-cash-flow ratio is 4.4, well below the industry median of 11.84.

Swatch Group (SWGAY)

Speaking of the risks of owning a discretionary retail name in the new normal, let me contradict myself by offering a discretionary retail name for this list of cheap stocks to buy for a quick buck. However, if you consider the underlying nature of Swatch Group (OTCMKTS:SWGAY), it might be distinct enough to win out.

A Swiss manufacturer of watches and jewelry, the company identifies with the watchmaker of the same name. As you may know, Swatch specializes in lower-priced casual watches. However, the company owns several high-end brands, such as Longines, Omega and Harry Winston.

Now, if you’ve ever been to a Harry Winston boutique, you know these customers aren’t looking at price tags. Therefore, it’s quite possible that Swatch Group can continue serving the affluent. Indeed, the company posted excellent results for its second quarter of 2022, delivering revenue growth of 61% year-over-year. Nevertheless, GuruFocus considers SWGAY modestly undervalued.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.