Independent News had an interesting article about Anthony Bolton, managing director and senior portfolio manager of Fidelity International, on Aug. 17, 2007.
I highlight some Mr. Bolton's insightful ideas :
- One thing I have learned in following the market is that it is cyclical and that it doesn't go up for ever or down for ever. When it has been going up steadily for four years, there will be setbacks.
- When everyone is bullish, I like to be more cautious, and vice versa. I was expecting something to come along, and one never knows what the catalyst will be.
- Anyone who runs a mainly long-only fund can't go up when everything is going down, but one can protect oneself [from going down too far].
- My message to individual investors was: Don't panic but be prepared for volatile markets for a while.
- You buy stocks you want on bad days and sell stocks you don't want on good days.
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