Market Analysis
WATCH: Stock pick — Nasdaq 100 PRTF
Robert Cameroon from Thebe Stockbroking talks to Business Day TV about his stock pick of the day
Robert Cameroon from Thebe Stockbroking chose Nasdaq 100 PRTF as his stock pick of the day.
“My stock pick is the Nasdaq ETF [exchange-traded fund], the Satrix one, and it’s denominated in rand on the JSE. It’s a very nice rand hedge. The rand has strengthened quite a lot so we are hedging against negativity, a possibility of a downgrade to subinvestment grade. Then with the G20 [Group of 20] meeting next week and if there is a trade resolution or something of that sort it means that your tech shares, which Nasdaq is heavy on, should react quite positively to that and, coupled with a rand hedge exposure, I like that for now.”..
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