November, 2011 | Financial Foot In Mouth

We’re Still in a Bull Market

I do not yet see either the investor behaviour or market valuations that one would normally associate with a bull market peak,’ he said. ’In fact, given the extraordinary world events in the first quarter of this year, markets have been remarkably resilient, illustrating how bull markets typically climb a “wall of worry”.

Quote by: Anthony Bolton, Star Fund Manager, Fidelity.
Quote made on: 21/06/2011
Quote Submitted by: Financial Foot in Mouth
Source: Citywire

Editor's Notes

During the following quarter, according to “The Daily Telegraph” (01/10/2011) the FTSE 100 suffered its biggest quarterly fall in nine years in the third quarter as mounting fears over a second global recession drove the index down 13.7% and wiped £212 bn. off the value of shares.

The last time the index fell so sharply was the third quarter of 2002. The poor three month performance was echoed among European markets, with the CAC 40 in Paris down 25.1% over the third quarter and the DAX in Germany 25.45% lower.

According to “New Model Adviser” (04/10/2011) “the U.K officially entered bear market territory on 9 August when it hit 4,855.35, some 20% off its February high of 6,091.33.”

We believe this to be a forecasting faux-pas and a worthy winner in our Hall of Fame! Can we let this comment go unnoticed or does it deserve our acknowledgement? Recognition merited!

Rate this story