Bolton predicts continued bull run
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Fidelity fund manager Anthony Bolton has predicted that the current bull market will continue to run into next year.
In an interview at a Reuters news conference in Seoul yesterday, Bolton said it is not too late to enter into the bull market.
He said: “The bargain phase is over. But despite the fact the market is well off lows, we expect the bull market to go on. It’s a multiyear bull market.”
Bolton said he thinks the global economy is in a recovery phase, and thinks now is the time to take advantage of long-term valuations. He said he sees value in financials and property but admitted that changing global regulations may increase risk in these stocks.
He said: “I still think it is right to own financials… I generally found after the financial crisis, you can own financials [for] two to three years.”
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