WATCH: Stock pick — cash
Ian Cruickshanks from the South African Institute of Race Relations, who is a bit nervous about the market at the moment, chose cash as his stock pick of the day.
He pointed to low business and consumer confidence and election uncertainty as reasons for his concern.
“Investors hate uncertainty more than anything else, that’s when they sit on their hands and do nothing. That’s when the market may very well sink under its own weight. Off course, they’ll be offset to some extent by a weaker rand and the international earnings companies, but, nevertheless, there will be better opportunities during that period,” Cruickshanks said.
Ian Cruickshanks from the South African Institute tells Business Day TV why he has chosen cash as his stock pick of the day