Friday, October 5, 2007

Fidelity's Bolton eyes bear market

As a follow-up to the post below, here's Reuters take:

The UK stock market may be in the first stages of a bear market lasting six to nine months, Fidelity International star fund manager Anthony Bolton said on Thursday.

"It's been my central case that after a four-year bull market we are more likely to have a bear market than a correction and then the bull market continues," Bolton told Reuters.

"It may be that we are in the first stages of that (a bear market). A typical bear market lasts six to nine months."

Bolton, who runs the 3.1 billion-pound Fidelity UK Special Situations Fund and the 410 million-pound Fidelity Special Values investment trust, in 2003 correctly called the start of a bull market in UK stocks that has lasted over four years....MORE

From the Times of London:

My note yesterday about the Nigerian e-mail scam purporting to come from fund manager Anthony Bolton brings forth a reassuring response from Kofi Annan, former Secretary-General of the UN. After the usual polite queries on my and my family’s health, he comes to the point.

The UN has set up a fund that will compensate anyone who has fallen victim to such a scam. A sum of $100,000 has been set aside for each. Claiming the money is easy. All I have to do is send my details to a certain West African bank . . .

From Martin Waller's CityDiary