Anthony Bolton, London’s best-known stockpicker, said yesterday that he had never seen retailing and media shares looking so cheap and that he had begun to put his own money into the equity market at the height of the current financial crisis.
Mr Bolton, president for investments at Fidelity International, said that the UK stock market seemed to be at or near the bottom and he had become much more optimistic in the past two weeks. “Shares [in some sectors] are as cheap as I’ve seen them in my lifetime,” he said, citing consumer cyclical sectors such as retailing and media as particular bargains.
After pausing several years in adding to his stock market investments, he said he had put fresh personal money into Fidelity equity funds two weeks ago and on Monday – the day the US bank bailout plan was derailed. “For the first time in a couple of years, in the last few weeks I’ve started to feel optimistic,” he said.
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http://en.wikipedia.org/wiki/Anthony_Bolton
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