WATCH: Stock picks — AVI and JP Morgan Chase & Co
Wayne McCurrie from FNB Wealth and Investments chose AVI as his stock pick of the day and David Shapiro from Sasfin Securities chose JP Morgan Chase & Co.
McCurrie said: “A good, solid SA consumer share, the snacks business has done extremely well, the shoe business has not done well at all, but that can turn around, and everyone knows that the fishing business is a relatively tough business.
“The share price has been hammered, but it is still a very good quality company. And if you prepare for a better SA and you think a better SA is going to happen, then AVI can do well.”
Shapiro said: “I think the US economy is still in very good shape, consumers are still around and are still spending. I know that the margins between what you can borrow and what you are lending out is pretty low at the moment, but I think that relative to the rest of the market the banks there look very cheap and they give you very good yields.”
Wayne McCurrie from FNB Wealth and Investments and David Shapiro from Sasfin Securities talk to Business Day TV