WATCH: Stock picks — Anglo American and cash
Jonathan Fisher from PSG Wealth Sandton chose Anglo American as his stock pick of the day, while Ian Cruickshanks from the IRR chose cash.
Fisher said Anglo American’s production report came out on Thursday showed that “diamonds did well”.
“The share price is up 10% in the past month. It’s trading on an 11 times multiple, their dividend yield is on around 3% and as long as those resource prices are maintained then we’ll see a half decent number.”
Cruickshanks says the market is fragile and prone to shocks at the moment.
“There will be no hurry, there’s a lot of clearing up for the president to do and will take more than a year to right the wrongs of the previous decade. So it is safer to remain on cash and come back in the second half of this year.”
Jonathan Fisher from PSG Wealth Sandton and Ian Cruickshanks from the IRR talk to Business Day TV
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