While many investors have been fleeing stocks this summer, David Dreman says it’s a good time to be buying.

“No, the market volatility and the seemingly never-ending Fed follies are certainly not what makes me positive on stocks today, but there are some good reasons to be bullish right now,” Dreman writes in his latest Forbes column. He points to U.S. companies having record-high cash hoards that should “allow them to weather almost any storm”; corporate earnings that are close to record highs; valuations that are the lowest “since prior to the great bull market in August 1982”; and the ability of stocks to battle inflation, which he says is looming.

“Given their modest valuations, strong balance sheets and potent tailwinds from monetary policy, stocks are the place to be,” Dreman says. “There is no shortage of blue-chip stocks selling at seemingly fire-sale prices. This is the time to buy. Even though volatility may be with us for a bit longer, buying now will look like a very smart move a few years out.” He cites four stocks he’s high on, including insurance giant AllState.