"We're in a different place and time than 2008...we are just mopping up some of the effects of bad spending," he pointed out, explaining that the banks are in a better position now, than they were after the collapse of Lehman Brothers.
"There is a degree of leverage (in banks), but it's nowhere near what we had with Lehman."
Banks have to comply with new Basel rules, or a leverage ratio, which puts a cap on the build-up of leverage in the banking system.
Exploiting the Volatility
While Ramscar forecasts that the current market volatility will continue through 2010, he believes this is a good buying opportunity.
"We're adding positions in China. We think that the Chinese market is now reaching a bottom...we are backing a winner," he said, stressing that fears of China's property bubble are overblown.
"If you make a comparison to Dubai for instance, clearly that was a bubble because there was no demand there. The difference in China is - there is a huge demand, (with) almost 2 billion people knocking on the door for their new car, their new home."
China's property prices have continued to surge despite government measures to cool the red-hot sector, with housing prices climbing 12.8 percent in April compared to the same month last year.