Warren Jeffery from Nedbank Private Wealth chose Reinet Investments as his stock pick of the day. “Stock pick at the moment would be Reinet. Tobacco is not necessarily in favour at the moment and they hold a big chunk of it, but we also quite like the other holdings. They have large exposure to pension corporation and they have steadily been growing their earnings over the past few years. They are trading at a big discount to their net asset value, so effectively you can go into the market and buy it at almost a 40% discount to what its net asset value should be and in a relatively volatile environment that margin of safety is what we think is good protection for portfolios.”
Or listen to the full audio:..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.