Correction is coming...and I like it: Strategist

Markets took Greek crisis 'very well'

Greece's debt crisis will take another twist this year—causing equities to sink by 10 percent—according to the head of research at a U.K.-based assessment manager firm.

John Haynes of Investec Wealth & Investment told CNBC on Friday that markets would correct as investors became fearful again of "contagion" across the euro zone from Greece.

However, rather than advising investors to head to the sidelines, he said the correction would be a "buying opportunity" that he would "really like."

"I don't really care if Greece stays in the euro zone or not; I think what will happen is we'll get a 10 percent correction in equity markets as people go 'argh.' It's political risk for everybody else'," Haynes told CNBC.

"It (the correction) would be a buying opportunity," he later added.

Read More IMF to euro zone: Ease up on Greek debt

Bob Parker, a senior advisor at Credit Suisse, agreed that such a correction would be a buying opportunity. But unlike Haynes, he said the risk of contagion was minimal because of the European Central Bank's quantitative easing program and that fact that countries like Ireland, Spain and Portugal have already completed successful debt restructurings.

"Contagion risk is going to be very small," Parker told CNBC on Friday.

"We're in a very different economic place today than we were four or five years ago," he said. "We shouldn't worry about it."

Traders work on the floor of the New York Stock Exchange in New York City.
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Haynes said his company would "lose some money" in the event of a correction, having added risk to its portfolios via equities from continental Europe in the last month.

However, he told CNBC: "There's so much worry around, there's got to be opportunities. So for me, I think it's time to stay where you should be."

Athens' attempt to access a third bailout seemed back on some sort of track this week, with Greece and other euro zone nations voting in favor to begin formal discussions about a deal.

Read More Germany gives Greek bailout the green light

However, dealing with Greece's hefty outstanding debt remains highly contentious. While Greece and the International Monetary Fund have stressed that the country's debt load is unsustainable and called for a writedown, German Chancellor Angela Merkel has ruled out a haircut for Greece or any other euro zone nation.

"This is a fudge, isn't it?" Haynes said regarding discussions about the third Greek bailout.

"Everybody knows they cannot sustain the amount of debt they had."