Stock Watch - Stock Picks — US Corporate Bond ETF and RMI
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Ian Cruickshanks from SAIRR chose US Corporate Bond ETF as his stock pick of the day and Rowan Williams from Nitrogen Fund Managers chose Rand Merchant Inv Hldgs.
Cruickshank said: I'm still bearish on the rand and South African economy so any protection for that I'd go to a
dollar priced ETF and would be happy to be there for a year or two on the S&P 500.
Williams said: "I'm going for RMI and it's kind of hedging your bets, it's a holding company and it's also moved to a wider discount. It's actually got a mix of local assets which I guess is somewhat interest rate sensitive Discovery, Momentum, MTN and then also OUTsurance which is actually a fantastic asset and business and has sort of been in a little bit of a lull. So a bit of a mixed balance at a fairly good discount to NAV."
Cruickshank said: I'm still bearish on the rand and South African economy so any protection for that I'd go to a
dollar priced ETF and would be happy to be there for a year or two on the S&P 500.
Williams said: "I'm going for RMI and it's kind of hedging your bets, it's a holding company and it's also moved to a wider discount. It's actually got a mix of local assets which I guess is somewhat interest rate sensitive Discovery, Momentum, MTN and then also OUTsurance which is actually a fantastic asset and business and has sort of been in a little bit of a lull. So a bit of a mixed balance at a fairly good discount to NAV."
