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, IFAonline.co.uk 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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes