Kyle Bass, chief investment officer of Hayman Capital Management, believes “this too shall pass,” when it comes to Monday’s deep selloff — the Dow Jones Industrial Average DJIA, -0.87% was down more than 2,100 points — but he’s in no hurry to buy up stocks at bargain prices.

Yet, anyway.

“ ‘If you’re asking for when the financial markets see peak virus, I think it’ll be about a month from now.’ ”

That’s Bass talking on CNBC early Monday about how long this weakness will last. He said that until the results from the first round of widespread testing for the coronavirus infection are tallied in the U.S., he’ll remain in holding pattern.

See also: Stocks will fall into a bear market if the Dow and S&P 500 close below these levels

According to the latest numbers, there are now 111,284 cases of COVID-19 and 3,892 deaths. In the U.S., 22 people have died, with 564 confirmed cases as of Monday morning.

At this point, Bass says he’s not buying or selling, instead he’ll just be watching “one of the most interesting financial collapses that we’ve seen in the past 15 to 20 years.”

However, he’ll be ready to pounce when the timing’s right.

“There will be some amazing things to purchase on the back end of this,” Bass said, singling out theme-park operator Six Flags SIX, -3.08% and the airline sector as the kind of investments that will get hit the hardest but also rebound the quickest.

Watch the full interview: