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A sell-off isn't necessarily a bad thing, according to one money manager.
All three major indexes saw their worst day since June 24, the day after the U.K. voted to leave the European Union.
Friday's sell-off gives investors a chance to find opportunities in the market, Chris Retzler, Needham Small Cap Growth Fund portfolio manager, said in an interview on CNBC's "Closing Bell." He said his firm believes small cap stocks might be an area with attractive valuations.
Retzler said that in particular, his firm likes companies in the technology sector such as Super Micro Computer. He said that while the company has had a tough quarter, Needham thinks the second half of the year will be better.
While the SPDR Gold Trust is down nearly 1 percent in the past month, the precious metal is an attractive investment over a longer period of time, George Gero, managing director of RBC Wealth Management, said on "Closing Bell."
"Gold is more than interesting now," Gero said. He explained that with low interest rates and "impairment of currency" in other countries, investors prefer to keep their money in liquid, nonpolitical assets like gold.