Picture: 123RF/SEEWHATMITCHSEE
Picture: 123RF/SEEWHATMITCHSEE

David Shapiro from Sasfin Securities chose Altron as his stock pick of the day and Wayne McCurrie from FNB Wealth & Investments chose Investec.

Shapiro said: “A business that is doing very well in challenging times. They got rid of all the old legacy businesses. It is a pure IT company with a high level of annuity income of around 60%-70%.”

McCurrie said: “I choose Investec, we all know they are splitting their company into asset management and the bank. On current valuations, the asset management is a very good business and the bank is going to trade significantly below book value or net asset value, and management seems determined to cut their expenses, which they have already started by closing a few businesses to try and unlock capital.”

David Shapiro from Sasfin Securities and Wayne McCurrie from FNB Wealth & Investments talk to Business Day TV

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