So the ASX took a pretty rough hit in March, down over 6% for the month. Worst we've seen since early 2022, which definitely got people's attention. Middle East tensions plus inflation worries basically spooked the market, but honestly that kind of pullback is exactly when you start seeing some real opportunities if you know where to look.

I've been digging through what's actually worth watching right now across both Australian and US markets. The best shares to buy right now aren't necessarily the ones that look cheapest on the surface. It's more about finding businesses with solid fundamentals that are actually positioned for what's coming next.

On the ASX side, CSL's been interesting. They make plasma therapies and vaccines, pretty boring stuff on the surface but they operate in over 100 countries. Underlying profit grew 14% to $3.3 billion in their latest results, and healthcare is trading at some of the cheapest valuations on the ASX right now. The risk is margin recovery taking longer than expected, but the core business is solid.

BHP is another one worth considering if you're looking at best Australian shares to buy. They're basically the copper play for Australia given the energy transition and all the data center buildout happening globally. Copper made up 51% of their EBITDA in their latest half-year, which is significant. Commodity volatility is the obvious risk there, but the structural tailwinds are real.

Wesfarmers owns Bunnings, Kmart, and Officeworks. Statutory net profit jumped 14.4% to $2.93 billion despite a tough consumer environment. That kind of resilience matters when things get choppy. Goodman's shifting toward data center development, which is basically a direct play on the AI infrastructure boom. And Macquarie's asset management business surged 43% in the first half, with exposure to some long-term themes like demographics and decarbonization that aren't going anywhere.

If you're looking broader, the US market has some compelling options too. Nvidia's obviously the AI chip story everyone knows about. Revenue hit $215.9 billion, up 65% year-over-year, with data center alone at $193.7 billion. The stock's down about 8% year-to-date, which some see as a better entry point. Microsoft's Azure grew 39% last quarter. Alphabet crossed $400 billion in annual revenue for the first time. TSMC makes the chips for basically everyone and is sitting on a strong buy consensus from analysts.

The real question for Australian investors is whether to focus on ASX or US stocks. Honestly, it's not either-or. The ASX is built for income with those generous dividends and franking credits. You're getting around 3.3% in yields compared to 1.5% globally. US companies tend to reinvest earnings instead, which drives capital appreciation over time. The ASX is concentrated in mining, banking, and healthcare while the US gives you tech, AI infrastructure, and consumer brands you won't find locally.

Long term, both markets have delivered. The ASX has returned about 11.6% annually since 1900 including dividends, versus 10.1% for US shares. Most investors end up doing a mix of both anyway.

When you're actually looking to trade these best shares to buy right now, you've got options. Direct ownership is straightforward. Another route is using CFDs if you want leverage or the ability to go short, though that comes with its own risks and you lose voting rights and dividends. Either way, the key is focusing on what actually drives each business rather than just chasing cheaper prices. The March selloff created some interesting entry points, but a lower price only matters if the underlying company is actually sound. Start with fundamentals, then figure out what fits your risk tolerance and timeline.