NEW YORK (TheStreet) -- Optimism is in short supply after Friday's selloff as the Dow Jones Industrial Average finished down 610.25 points and the Nasdaq ended down 202.061, the farthest single-day drop for the second-largest exchange in the world since 2011.
Despite today's market, Former Morgan Stanley (MS) Chief Investment Strategist David Darst is contrarian and bullish on investment opportunities.
"This is the equivalent in 1978 of Proposition 13 in California which was ... a revolution that led to the 80s and 90s which were one of the greatest growth periods in human history," Darst said on CNBC's "Closing Bell." "We're going to have that again."
Quoting Lampedusa's "The Leopard," Darst proclaimed that "if you want things to stay the same, they're going to have to change." He believes that investors should expect the Federal Reserve and other central banks to ease the market, leading to a boost for many sectors.
Additionally, Darst believes that investors should watch the currencies of China, Korea and Japan, as "they're probably going to have to" weaken their currencies.
"China's being pulled up by the dollar going up right now," Darst added.