The current economic crisis has had a significant impact on share prices with the whole market being dragged down in recent months. However a lot of this sell-off could be seen as panic-selling by private investors and fund managers, and has resulted in some companies falling to bargain levels, and in fact there are entire sectors that could be seen as being potential bargains.

So what sectors are these?

Well no financial advice is intended, and this is no way a recommendation, but my own personal view is that share prices of mining and oil companies have been simply knocked down too far. While it's true that commodity and oil prices have fallen significantly, and will undoubtedly have an impact on these companies' profits, in the long term I think these commodity and oil prices will be trading a lot higher.

Even taking these drops in profit into account, a lot of the top companies within these sectors are currently trading at extremely low valuations. By that I mean that they are trading on extremely low PE (price/earnings) ratios. It's often said that value always comes out in the end and so on that basis it is likely that the share prices of these companies will rise again to reflect their true valuations.

There's no guarantees in the stock market of course, but if you take a long-term view then I think now is a good time to be drip-feeding money into the top mining companies and oil producers. In other words, companies that have little or no debts, have money to snap up smaller companies who may not be so well equipped with falling commodity and oil prices, and who pay out a reasonable dividend each year.

It's hard not to be put off by all the constant talk of a recession on the news and the constant reporting of the economic crisis, but in my opinion this is a good time to start drip-feeding money into the markets and start snapping up some bargains. The whole market has been sold off which means that some quality companies are now extremely cheap, and the mining and oil sectors are certainly very cheap at the moment in my view.

If you take a long-term view, which you should always do when investing, then there could potentially be good profits to be made from the mining and oil sectors in the next few years, because after all there is still a large global demand for commodities and oil and they are finite resources.