Ian Cruickshanks from the South African Institute of Race Relations (IRR) chose Vanguard S&P 500 ETF as his stock pick of the day and Gary Booysen from Rand Swiss chose Vodacom. Cruickshanks’s choice shows he is maintaining his stance on the S&P 500 ETF and looking for a hedge against the South African economy. Booysen said the market was spooked by Vodacom’s headline numbers, which were due to dilution because of the BEE charges. “Remove that from the equation and look at the normalised number, it shows their headline earnings were up 6%. Management is incredibly secure on cash flows going forward as the dividend payment also went up.”
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