In his latest Nasdaq.com column, Validea CEO John Reese takes a look at stocks that might be getting hit too hard by “fiscal cliff” fears.

“What if we don’t go off the cliff, or we do, but the impact on the stock market isn’t as severe as expected. Despite what you may have heard, those are both legitimately possible scenarios,” Reese writes. “And if they do play out, the stocks that are supposed to get hit hard could instead take off.”

Reese says that if investors are willing to take on some short-term macroeconomic risk in their portfolios, they should consider fundamentally sound “Cliff-sensitive” stocks.”Keep in mind that that [fiscal cliff] risk has been known for some time, and may well be baked into prices already. If you have a long-term horizon, picks like these could provide some nice upside within a well diversified portfolio,” he says. He offers a handful of picks targeted by his Guru Strategies, each of which is based on the approach of a different investing great. Among them: defense firm General Dynamics.