Bolton observes "final stages" of bear market

Bolton warned of the impending collapse of the banks at the end of 2007 and, speaking at the OBSR honours dinner on Wednesday (17th), he described what has unarguably be one of the most historic weeks in recent financial history as one children will ask: "mummy and daddy, were you there?" According to Bolton, the last stage of the current bear market will be the breaking of the commodities market. He said that, despite commodities recently suffering a severe bout of selling, they are still too expensive and over owned. He was also critical of the role hedge funds had played. He said:...