As the fiscal cliff approaches, at least one fund manager says the worst-case scenario might be a buying opportunity for stock investors.

According to Mike Crofton, CEO of Philadelphia Trust Co., going over the fiscal cliff might cause stocks to lose about 8 percent of their value.

“I would use that as an opportunity to buy stocks because going over the fiscal cliff creates a crisis and we always solve crises,” he told CNBC.

Editor's Note: Unthinkable Haunts Investors: Evidence for Imminent 90% Stock Market Drop.

“I would welcome going over the fiscal cliff because I can get fully invested.”

Crofton noted that going over the fiscal cliff would be preferable to prolonging the political gridlock and uncertainty.

“This posturing and postponing and give-and-take are just going to prolong the agony and make it a lot worse over the long run,” Crofton said.

However, he cautioned against getting into the market until there is some clarity over the cliff.

House of Representatives Speaker John Boehner, R-Ohio, said Thursday he was “disappointed” after a telephone call with President Barack Obama the previous evening and a meeting with Treasury Secretary Timothy Geithner yesterday failed to bring the two sides closer to averting the fiscal cliff, Reuters reported.

"No substantive progress has been made in the talks between the White House and the House over the last two weeks," Boehner said. "There's been no serious discussion of spending cuts so far, and unless there is, there's a real danger of going off the fiscal cliff."

Geithner, the president’s lead negotiator in the talks, met with congressional leaders from both parties in a bid to avert the $600 billion in tax hikes and spending cuts set to take place at the beginning of the year.

The Congressional Budget Office and economists have warned that failure to avert the fiscal cliff would push the U.S. economy back into a recession.

Editor's Note: Unthinkable Haunts Investors: Evidence for Imminent 90% Stock Market Drop.