Fidelity's Bolton believes bull market has begun
Fidelity International president of investments Anthony Bolton believes a bull market has already kicked off in equities and that financial shares are set to drive recent gains higher.
The former UK special situations manager says that advances that began in March have triggered the new phase in the market, pointing to the likes of financials, consumer cyclical, technology and value stocks as areas that he favours.
Speaking in an interview with Bloomberg Television in Hong Kong, Bolton said: "All the things are in place for the bear market to have ended. When there is a strong consensus, a very negative one, and cash positions are very high, as they are at the moment, I'd like to bet against that."
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