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“Really skilled investors I think are buying things now at the bottom of the market — or close to the bottom of the market,” Rubenstein said Wednesday in an interview on Bloomberg Television. “When markets are in trouble — as they are now, you could argue — now is probably a pretty good time to invest.”
The S&P 500 and Nasdaq Composite Index both tumbled the most in more than two years Tuesday after Labor Department data showed that the consumer price index climbed 8.3% in August from a year earlier, assuring another big interest-rate hike from the Federal Reserve.
Read more: US Inflation Tops Forecasts, Cementing Odds of Big Fed Hike
Rubenstein, 73, said the US is in a better position for growth compared with the UK, adding that investors should stay the course even if they don’t reap immediate returns.
“If you’re really investing you’re not going to be able to avoid losses at some point,” Rubenstein said. “Even Warren Buffett has lost money on investments. You have to be in the game.”
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