WATCH: Stock picks — Amazon and cash
Martin Smith from Anchor Securities chose Amazon as his stock pick of the day and Robert Towell from Sasfin Securities chose to stay in cash.
Smith said: “On the back of the news out of the US with regards to all the antitrust issues we saw the FANGS [Facebook, Amazon, Netflix and Google] take a bit of a knock. I use that as an opportunity to top us on a few shares there. I think Amazon is the pick of the bunch though.”
Towell said: “I also like the FANGS, I think they were sold off quite aggressively, but I think you can still wait and I think there is still a lot of noise coming through around the regulations in these big IT companies. I would rather stay in cash for the next week or so to see how the trade war pans out and how [US President Donald] Trump finishes off in England.”
Martin Smith from Anchor Securities and Robert Towell from Sasfin Securities talk to Business Day TV