WATCH: Stock pick — Reinet Investments
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.”
Warren Jeffery from Nedbank Private Wealth talks to Business Day TV about his stock pick of the day
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