U.S. stocks suffering double digit losses Wednesday as low oil prices and blue chip stocks weighed down the market.
"Yes, investors are nervous and scared, but there is a huge opportunity to buy U.S. stocks right now." said Neil Hennessy, president and chief investment officer of the Hennessy Funds.
"Volatility doesn't change the facts. The bull market is not over and valuations are reasonable," he said.
Hennessy said the existing $3.5 trillion remaining in fixed income mutual funds is "insane" and urged investors to quickly move into domestic equities.
"Companies are still making a ton of money and cash flow is at an all time high," said Hennessy. "It's not rocket science to see why it makes sense. People just have to shake off their nervousness and jump in."
"The bull market is not over!"