Don’t fear another stock market crash! I’d buy these cheap UK shares for my ISA in October

Want to watch your Stocks and Shares ISA soar in value in October? I reckon these UK shares could help you in your quest.

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I’m not worried about a second stock market crash. As someone who invests for the long term, I know share price corrections are to be expected. I also know that past form shows prices of UK shares always come roaring back following macroeconomic and geopolitical crises.

The FTSE 100 recovered from a number of significant setbacks during the 21st century alone to hit record highs in May 2018. Britain’s blue-chip index sailed through the dotcom bubble, the banking crisis, and the Chinese stock market crash to strike peaks close to 7,800 points then. I’m convinced UK share prices will recover strongly again in the aftermath of the coronavirus crisis too.

Getting rich with UK shares

History shows us that long-term investors tend to make handsome profits from UK shares. Over the space of a decade or longer, the average yearly return sits at between 8% and 10%. Those individuals that hit the upper reaches of that range — or possibly even exceed it — also buy in the aftermath of market crashes.

Stack of new bank notes

This is how hundreds of Stocks and Shares ISA investors made millions following the banking crisis. They bought low and watched their UK shares rebound in value as economic conditions improved. With this in mind, I’d happily buy these top stocks in my own ISA today. I reckon they could rocket in value this month too:

  • I recently explained how a muddy economic and political outlook could drive gold prices skywards in October. The same can be said for other precious metals like platinum and palladium, making UK shares like Sylvania Platinum top buys. This particular stock looks particularly cheap, as per its forward price-to-earnings (P/E) ratio of 3 times. Such a low valuation boosts the chances of significant share price gains significantly.
  • I’d certainly buy Unilever shares ahead of third-quarter financials, slated for Thursday, 22 October. Consumer goods giants like these don’t suffer significantly during tough economic times. And this particular one can expect heavyweight brands like Dove soap and Magnum ice cream to keep driving profits. The FTSE 100 company published solid results last time out in July. And I reckon it could repeat the trick later this month.
  • I’d also buy Gamesys Group stock before third quarter results come out on Tuesday, 20 October. The online gambling giant has seen its share price fly in 2020, thanks to a series of strong trading updates. And, back in August, it reported revenues doubled between January and June, due to strong trading in Asia and the UK. Expect another sunny set of numbers in late October.

Helping you to get rich

Gamesys et al are just a few UK shares which could soar in value this month. I’d buy them today and hold them for years. And there are plenty of more quality stocks in The Motley Fool’s library of special reports that I’d happily load up on today. I think they could make you and I seriously rich in the years ahead.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild owns shares of Unilever. The Motley Fool UK has recommended Unilever. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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