Anthony Bolton: The guru who believes in charts

Many people dismiss chartism as a pseudo-scientific waste of time. But legendary fund manager, Anthony Bolton, believes charts are very useful.

Fidelity's Anthony Bolton is the nearest thing the UK's staid fund management sector has to a genuine investment guru. A famously modest man, Bolton has fought shy of publicity over the years but last week he gave a rare public masterclass in stockpicking to a packed audience at the City's Securities and Investments Institute. Since 1979, Bolton's flagship Fidelity Special Situations fund has turned a £1,000 investment into about £149,000 today. How does the man himself reckon he's done it?

First, through personal meetings with thousands of companies plus, crucially, repeated follow-up meetings in order to uncover the occasional investment gem. Second, by moving in the opposite direction to the herd with the aim of pre-empting the market. And third and this is the big surprise by judicious use of technical analysis, or chartism'.

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