Hedge fund managers are ignoring the current budget crisis in Washington, D.C., because it is unclear how to invest before the outcome is known, so they are sitting on their hands, according to CNNMoney.

However, the pros CNNMoney spoke to said they expect a resolution, and even if there isn't one, the result would be a huge buying opportunity.

"I'm still of the camp that this will get solved at the very last minute, and until then, there's nothing to do," said one unnamed manager of a $6 billion hedge fund. "But, if nothing gets solved by October 17th and the Dow drops 1,000 points, I'm a buyer."

Editor’s Note: Opinion: Retirees to Be Hit With Social Security Cuts

If Congress does the unexpected and lets the United States default on its debt, CNNMoney said most hedge fund managers believe stocks would fall like a rock.

And then what happens? “That crash or correction would offer a reason to buy stocks… immediately,” CNNMoney said of the overall sentiment.

Liz Ann Sonders, chief investment strategist at Charles Schwab, told Yahoo’s “The Daily Ticker” that she is predicting a near-term stock market correction but remains optimistic about the intermediate-term outlook with the resolution of the nation’s budget stalemate.

“We’ve been missing a real true investment cycle outside of residential real estate,” she said.

“Businesses need to make some commitments beyond stock buybacks and dividend increases and … we started to see signs of that” before the government standoff took hold.

The U.S. market could fairly trade with a multiple of 18, Sonders said, “which gets you back somewhere in the 1,900 range for S&P 500.”

“That’s not a prediction and I don’t think we’re out of the woods yet, but I don’t think valuation is an impediment” to higher stock prices. The S&P was trading well under 1700 at midday Wednesday.

Traders may be sitting back, but they are plenty engaged with watching the government drama as it plays out, according to interviews by Reuters.

"In our opinion markets are a little too complacent. The downside risks are horrendous if there is no resolution and the debt ceiling is breached," Kevin Corrigan, head of credit at Lombard Odier Investment Managers, told the news agency.

"I'm prepared to step out at any time should it come crashing down, but for the moment I'm still betting on the upside," said Andreas Clenow, hedge fund trader and principal of ACIES Asset Management.

Editor’s Note: Opinion: Retirees to Be Hit With Social Security Cuts

Related Stories:

Real Wealth Network's Fettke: Hedge Funds Are Biggest Risk to Housing Recovery

Hedge Funds Hoarding Cash, Expecting Disaster