Bolton: Why I am 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 resembles "a big game of poker".

Speaking at Investment Week's Senate Autumn conference, Bolton said too cautious an 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] overvaluation in the bull cycle." The manager of the Fidelity China Special ...