Daily Stock Pick
WATCH: Stock pick — Kumba Iron Ore
Ian Cruickshanks from the South African Institute of Race Relations has moved from being a holder of cash to eyeing a stock pick within resources complex.
Cruickshanks concedes that being stuck on cash for so long has “probably been the wrong strategy in the medium term”.
He says there is talk of 4% growth in the American economy — the world’s biggest economy, and 25% of global GDP. If it grows like that, everybody will grow, and mostly quite a lot stronger, he says.
This makes a company like Kumba Iron Ore well placed as there will be demand for iron ore from steel manufacturers.
Ian Cruickshanks from the South African Institute of Race Relations talks to Business Day TV about Kumba Iron Ore
LISTEN TO THE FULL SHOW HERE: