NEW YORK ( TheStreet) -- The Federal Reserve's rate hike drama has thrown investors into a short-sighted tizzy.

"I think we have a myopic focus with the Fed," said David Nelson, chief strategist at Greenwich, Conn.-based Belpointe Asset Management. "Does it really make a difference whether it's September October or December?"

Investors are worried what the markets will look like without crisis-era interest rates, which have helped fuel the six-year bull market.

Low rates make borrowing costs cheaper for companies, giving them an incentive to invest. Plus, low rates have pushed yields on alternative investments like bonds and CDs down, making the stock market more attractive.

"We've had a correction in the markets, but investors are now worried that a [rate hike] causes a bear market," where stock indexes dive at least 20% from their most recent peak.

Nelson doesn't think the markets are headed for bear territory once the Fed lifts rates. In fact, he thinks a rate hike is actually a positive sign. "If they do raise rates, it's probably good news, meaning the economy is picking up soon and that we'll be seeing inflation." 

He also doesn't think the Fed's rate hike alone will be enough to calm volatile markets. "It's not just the Fed," he added. "China has been a big problem for U.S. multinationals, the fallout from the strong dollar and low oil prices are all factors that have been causing investor angst." 

Across the broader markets, Nelson pointed to semiconductor Avago Technologies (AVGO - Get Report), which Nelson picked up on Thursday, after previously selling shares. He said Goodyear Tire and Rubber (GT - Get Report) is a name that has taken a hit, with shares down almost 6% over the past three months.

But Nelson sees value in the tire company going forward. He also says he's lucky enough to own Kroger  (KR - Get Report), which saw a 16% bump in its stock price since the start of the year.