Waiting for market bottom is a mistake and investors should buy now, David Rubenstein says

Investors looking to scoop up deals and presumption themselves for semipermanent maturation should enactment present alternatively of waiting for stocks to bottom, David Rubenstein said Wednesday.

"People shouldn't beryllium acrophobic of going successful and buying things now," The Carlyle Group co-founder said during CNBC's Delivering Alpha Investor Summit successful New York City. "The large fortunes successful the concern satellite are often made by buying things astatine discounts."

During the past decennary oregon so, determination haven't been galore discounts with the U.S. banal marketplace being successful a bull cycle. Now, however, stocks person fallen into a carnivore marketplace and person remained volatile, meaning galore names are trading astatine a comparative discount, Rubenstein said. The S&P 500 is down much than 15% twelvemonth to day done Tuesday's adjacent and disconnected much than 23% from a grounds acceptable successful January.

Rubenstein sees bully worth successful stocks present and continuing done the adjacent six months — astir the clip helium thinks it volition instrumentality for Federal Reserve complaint hikes and policies from Congress to commencement making a dent successful inflation.

He besides noted that investors should commencement buying present alternatively than effort to clip the marketplace bottom.

"It's a fool's errand to find the bottommost successful the marketplace oregon the apical successful the market," helium said. "Trying to hold to the implicit bottommost is astir apt a mistake, successful my view."

Rubenstein said the marketplace is overmuch person to the bottommost contiguous than it is to the top. He doesn't spot stocks falling different 50% oregon 25% from existent levels.

But not everyone is arsenic sanguine arsenic Rubenstein astir stocks today. Paula Volent, Rockefeller University vice president and main concern officer, said during Wednesday's lawsuit that the macro situation is "very scary to me," pointing to issues arising from Russia and China.

She noted that her currency allocation present is the highest it's been astatine immoderate constituent successful her career.

Still, for investors that privation to instrumentality vantage of the market, she recommends progressive management. "You person to find progressive [management] and you person to spell into thematic areas wherever you tin make immoderate returns," Volent said.