Stock Watch - Stock picks — Remgro and Rand/Dollar
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Gerbrand Smit from N-e-F-G Fund Managers chose Remgro as his stock pick of the day and Gary Booysen from Rand Swiss chose Rand/Dollar.
Smit said: "I'm going to go for Remgro again. I picked it at similar levels the last two times and I think markets are much higher than where it were June the 30th last year. We know what happened to markets, they certainly corrected from where they were then so and they already trading at a discount of more than 35 on those numbers. You're going to see higher net asset values coming out for the end of December in the next week or three and then I think you might see some re-rating of the stock."Booysen said: "
I'm just thinking about the currency play on the rand/dollar. I know we talked about the commodity super cycle, everyone thinks maybe that the currency is going to get stronger and I think a lot of that is priced in given the huge re-rating that we've seen over the last six months.
Smit said: "I'm going to go for Remgro again. I picked it at similar levels the last two times and I think markets are much higher than where it were June the 30th last year. We know what happened to markets, they certainly corrected from where they were then so and they already trading at a discount of more than 35 on those numbers. You're going to see higher net asset values coming out for the end of December in the next week or three and then I think you might see some re-rating of the stock."Booysen said: "
I'm just thinking about the currency play on the rand/dollar. I know we talked about the commodity super cycle, everyone thinks maybe that the currency is going to get stronger and I think a lot of that is priced in given the huge re-rating that we've seen over the last six months.