Value is back, and in a big way, following last week's bit of market turbulence, which saw some of the high-tech innovators be sent straight to the penalty box for reasons mostly outside their control. Undoubtedly, tech, which has been in for quite some time, is starting to fall out of fashion. I have no idea (nor does anybody else who claims to be on Wall or Bay Street!) if the recent tech volatility is just the start of an ugly downward move or if this is just another blip that can be bought with both hands!

Either way, if you're a young investor, it's hard not to be drawn back to the value names out there, many of which are hiding in plain sight on the TSX Index and S&P 500.

In this piece, we'll consider two Canadian value picks that I'd be willing to bet on for the next 18 months.

Spin Master

Spin Master (TSX:TOY) is a toymaker that's starting to enter deep-value territory following its latest move below the $30 per-share level. Indeed, the discretionary retail scene has been a horrible place to be of late. But the times could change meaningfully as soon as the fourth quarter of 2024.

Indeed, the holiday season is a huge deal for the toy industry. And with an impressive showcase and marketing in place, perhaps TOY stock could be closer to a bottom than most would think. Indeed, the stock chart is not pretty right now, with shares down more than 12% year to date and north of 15% in the past year. That said, I find the multiple to 10.3 times forward price to earnings (P/E) to be extremely depressed.

If Spin can show strength in its coming quarter, perhaps the stock will have room to rally right back to the $40 range. Either way, I like the name for the deep value to be had ahead of a holiday season that has pretty low expectations built in.

Aritzia

Aritzia (TSX:ATZ) is a fashionable women's clothing retailer that's starting to show signs of life after soaring more than 73% year to date. Indeed, it did not take long for the firm to turn the tide. The company's new boutique in Boca Raton (that's a city in Florida) is doing incredibly well. This bodes well for the company's expansion in the U.S. market.

Any positive signs coming from the U.S. expansion, I believe, are worth getting behind, especially as the economy heats up after engaging in a so-called economic soft landing. As consumers spend again, Aritzia stands out as a huge bounce-back candidate that could return to all-time highs.

Further, with recent quarterly results coming in strong, I'd argue that the firm is already looking to pick up where it left off before the last few quarters sent shares to ominous depths. As Aritzia returns in fashion as it expands down south, perhaps it's time to be a net buyer on strength. Either way, ATZ stock is a great mid-cap $5.2 billion growth stock to stash in a Tax-Free Savings Account or Registered Retirement Savings Plan for years.

The post 2 Stocks to Buy as Investors Increasingly Hunt for Value appeared first on The Motley Fool Canada.