With the stock market meltdown entering its third session on Tuesday, Bespoke Investment Group co-founder Paul Hickey sees the pullback as a chance to buy off the sale rack.
"These kinds of opportunities are opportunities," he told CNBC's "Squawk Box."
Dow futures early Tuesday were indicating another nosedive at the open on Wall Street that could breach the correction level, defined as a decline of 10 percent over time from recent new highs. On Monday, the Dow plunged late in the afternoon nearly 1,600 points before cutting that decline in half just minutes later. The Dow ended about 1,175 points lower.
Only eight trading sessions ago, the Dow Jones industrial average closed at all-time highs on Jan. 26 after 2018 had gotten off to a roaring start, in a what was a continuation of the rally that started in November 2016 after Donald Trump was elected president.
However, Hickey was making the case that even if investors bought at the January top, history has shown that may still have been a solid long-term investment. That's why he said the recent drop presents such a buying opportunity.