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Veteran fund manager Anthony Bolton of Fidelity today told investors the “bargain phase is over” but said it's not too late to cash in on the bull run.
He flagged up the technology and consumer sectors for growth, warning that commodities and industrial firms were coming to the end of their rally.
“Despite the fact the market is well off lows, we expect the bull market to go on,” he said.
Bolton predicted the first phase of the bull market would finish this year or by the first quarter of 2010.
After working through “six banking crises” he said it is worth investing in financials such as banks, property and insurance “for two to three years” afterwards, but warned regulation was a significant risk.
