Stock Watch - Stock Picks — Richemont and Anglo American

Nick Kunze from Sanlam Private Wealth chose Richemont as his stock pick of the day and Joseph Busha from JM Busha Investments chose Anglo American.

Kunze said: "Richemont has been trading upper end of the range and I have a couple reasons for choosing them. There was actually a research note at last week on Forbes saying that by 2020 the the number of billionaires in China's risen nine fold so a lot of high net-worth people coming from Chinese space and also we've seen what has been supposedly little bit of shun towards America so away from Tiffany who's earnings in China down 20% and the rhetoric is that they buying closer to Switzerland and the likes of Cartier."

Busha said: "I choose Anglo American as I think there's a little bit of positivity that is coming through and purely this is momentum for some of the resource stocks in addition to that you know they had the diamond sales going up in DeBeers and certainly and they're storage facilities also showing an increase. I think there might a little bit of an upward momentum in there. The share price had gone to about R450 per share and came down a little bit about R309-R397. A short term momentum you might be able to gain 15%-10% up on Anglo American."
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