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2 Recession-Proof Stocks to Buy Right Now

In recent weeks, we’ve seen a lot of concern surrounding a possible recession taking place, as the markets have been very volatile. However, there are ways for investors to protect themselves by investing in companies that have sustainable businesses that will be able to handle adverse economic conditions.

After all, even if the economy may be struggling, that doesn’t mean there won’t be a demand for products and services that consumers need and use every day. And some are more critical than others.

Below are two stocks that are great buys for investors for the long haul that are good bets to weather any economic storms that may be headed our way.

Fortis (TSX:FTS)(NYSE:FTS) is an excellent example of a stock that’s going to continue to have a lot of business whether or not things are going well for the economy.

While consumers may be able to cut down their spending at the movies or when it comes to holiday shopping, the same cannot be said when it comes to staying warm and keeping the lights on. Things would have to be very dire for someone to be willing to stay cold and be in the dark.

And that’s why a utility stock, especially one as established as Fortis that has a strong customer base, should see a lot of stability in its business from year to year.

While the company has been able to grow via acquisition over the years, that’s about the only way we’d expect to see a utility provider see a big spike in sales. The downside is that while there might not be much in the way of organic growth, there likely won’t be many fluctuations sending sales down.

The great part of owning Fortis is that even if the economy slows down, you can still profit simply from holding the stock. With a very strong payout, the dividend income alone can give your portfolio a big boost.

Another great stock to hold in your portfolio through both good times and bad is Waste Connections (TSX:WCN)(NYSE:WCN). The trash business is also a very stable business and one that could yield some strong long-term results.

Like Fortis, Waste Connections has been able to grow its reach via acquisitions. And with the industry being very fragmented, there are still many possible ways for the company to continue to grow.

Waste Connections has provided investors with a lot of growth over the years, with its share price climbing more than 200% in just five years. The one downside with Waste Connections is that the stock simply doesn’t offer the same strong dividend that Fortis offers, paying a very modest yield of less than 1% per year.

However, if the stock can continue rising in value at the pace that we’ve seen lately, I’m sure that investors will be more than fine with not having much of a dividend payment.

Overall, with a solid business model and many opportunities to grow, Waste Connections is a great stock to just buy and forget about.

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Fool contributor David Jagielski has no position in any of the stocks mentioned.

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