Deryck Janse van Rensburg from Anchor Securities chose JP Morgan Chase as his stock pick of the day and Gerbrand Smit from NeFG Fund Management chose Mediclinic. Janse van Rensburg said: “I’m going abroad and choosing JP Morgan. Obviously, we are on the back of some results and earnings season overseas and I think that the whole banking sector overseas is actually reported … very strong results.” Smit said: “I’m going for something that’s been out of flavour for some time now and that is Mediclinic. About two years back everybody wanted to own the asset at around R220 a share, nothing could go wrong, they did a few purchases offshore in the Middle East. Lots of things then went wrong in the Middle East, regulatory issues where they had to do co-payments etc. Then, the regulatory issues in Switzerland, so everything that probably could have gone wrong has gone wrong with Mediclinic in the earnings over the last two years. Everybody was running away from the share. It’s now at around ...
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