Hedge fund Avenue Capital says now is time to buy

Forbes – Financial assets have become so cheap because of the credit crisis that now is a good time to scoop up bargains, the head of one of the world’s biggest hedge funds, Avenue Capital, said on Wednesday.

‘Now is a phenomenal time to buy, assuming you think we’re not in a depression,’ Marc Lasry, chairman and CEO of the company, said at the 2008 Clinton Global Initiative meeting in Hong Kong.

‘We’re looking at valuations we think are extremely low. Unless the unthinkable happens, you’ll be fine,’ he said, referring to the investment environment.

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