Market Wrap - Stock pick — cash
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Kwame Antwi from KOA Capital chose cash as his stock pick of the day.
"The advice is simple, if you have cash, stay in cash. There will be an opportunity for you to buy what you need to buy and if you're in the markets I guess you are in already in and maybe just ride it. I think there's probably more pain down the line and I think it is better to miss the first 10-15% of a recovery than to catch the last 30% of a falling knife. So take your time, you have enough time to think and we'll get more clarity. I think the first time will be when we start seeing signs that the mortality or the infection curves are beginning to begin to flatten or at least get a sense of where we think this is going to end from a human point of view."
"The advice is simple, if you have cash, stay in cash. There will be an opportunity for you to buy what you need to buy and if you're in the markets I guess you are in already in and maybe just ride it. I think there's probably more pain down the line and I think it is better to miss the first 10-15% of a recovery than to catch the last 30% of a falling knife. So take your time, you have enough time to think and we'll get more clarity. I think the first time will be when we start seeing signs that the mortality or the infection curves are beginning to begin to flatten or at least get a sense of where we think this is going to end from a human point of view."
