Bolton: Why I'm still a bull on global equity markets


Fidelity's Anthony Bolton has said he remains a world equity market bull despite a global situation that he said resembles "a big game of poker".

Speaking today at the Senate Autumn conference of Investment Week, and Professional Adviser's sister title, Bolton said an overly-cautious outlook was currently priced in to shares, especially as valuations before the summer sell-off had been more reasonable than previous economic cycles. "I am still a bull of world equity markets. I think in this business you have got to look at what is discounted in valuations, not at the outlook," Bolton said. "A very cautious view is discounted in valuations at the moment. But I do not think we ever got into [the phase of] overvalu...

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