Rowan Williams from Nitrogen Fund Managers chose Old Mutual as his stock pick of the day. “I’m still going to stick with Old Mutual, it is focused on the SA economy, but again from a valuation perspective we still have it on a single-digit price-earnings ratio and multiples in terms of embedded value. If you look inside their banking operation, it is doing incredibly well with over a million transactioning accounts. If we do see a positive outcome in terms of the elections, some of these stocks could rally quite hard.”
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