Whenever a truly magnificent Canadian stock corrects (a 10% fall) or flirts with a bear market (a 20% decline from peak levels), investors should be ready to be net buyers on the dip. Of course, there are always concerns surrounding a firm when it's on the descent, especially if the rest of the stock market is on the ascent, as it is right now. Either way, it can pay dividends to be a long-term investor who's able to maintain a cool mind when most other investors would rather trade out of a name on weakness while using the proceeds to chase other hot momentum opportunities.

Undoubtedly, chasing crowded trades can be a risky move, one that may lead one to get rocked once the next market-wide correction happens. In the case of Restaurant Brands International (TSX:QSR), the stock has been going mostly sideways for the past two years, gaining just over 6% over the timespan while the rest of the market took off to hit new all-time highs.

QSR stock down 14%, even as the TSX bull market roared

Undoubtedly, shares of QSR have been lagging for quite a while, especially relative to the rest of the stock market. Though there's no guarantee it'll pick up the pace going into the new year, I must say that the current valuation looks absurdly cheap, especially if you're in the market for a consumer discretionary firm with more of a defensive nature. Indeed, stagflation is a top worry of many investors.

And if inflation returns (perhaps tariffs will fuel it on both sides of the border) while the stage potentially sets for a bit of a growth scare (I think expectations on corporate earnings in the U.S. have climbed during the latest artificial intelligence-induced frenzy), the risks of correction, I believe, should not be ruled out of 2025. It's times like these, when valuations are a tad swollen that it can make sense to check out some of the neglected value offerings that have quietly traded with valuation metrics close to multi-year lows.

Restaurant Brands International: A wonderful, misunderstood business that's worth picking up on a discount

Not all stocks are obscenely expensive this holiday season. Restaurant Brands stock actually looks like a compelling gift that income investors may wish to pick up before the start of the new year. Undoubtedly, fast food has not been experiencing fast gains, at least not compared to the high-flyers in tech. That said, I do see QSR stock as having the means to pick up traction in the new year as it seeks to expand internationally while continuing to lead the way in value offerings.

Indeed, Burger King, Tim Hortons, Firehouse Subs, and Popeyes Louisiana Kitchen are legendary fast-food brands. While inflation's next move is uncertain, I think that consumers seeking great deals could flock toward such affordable quick-serve restaurant chains.

Sure, the company's latest quarter left little to write home about. However, with shares going for just 16.9 times trailing price to earnings (P/E) to go with a 3.32% dividend yield, I can't help but feel tempted to pick up a few shares on this latest correction. Even if QSR stock proves an untimely buy right here, one has to like the price of admission into the bountiful quick-serve restaurant firm.