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Bolton bearish on the market amid fears of US recession

Anthony Bolton is still bearish on the market and warns there is a 50/50 chance that the US will fall into recession.

Speaking at a Morningstar conference in London today, the Fidelity special sits manager said the market has moved from “the greed to the fear stage” and it is impossible to know the extent of contagion from the US sub-prime crisis.

He said: “We can only see the ripples and no-one kows what is underneath.”
Bolton said value opportunities are very scarce and he has taken some short positions using Ucits III powers.

One sector he is favourable on is media from a contrarian perspective.
He warned that the credit crunch is a “real world” event and is not just limited to finance and could ultimately drive a recession in the US.


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UK housebuilders remain a value trap – despite post-Brexit falls

Despite the sharp drop in housebuilders following the Brexit result, valuations in the highly illiquid market are still at elevated levels. And whilst some investors may take comfort from superficially low price/earnings multiples, are earnings sustainable over the long term, asks Holly Cassell, Assistant Manager of the Neptune UK Mid Cap Fund. Click here to […]


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