WATCH: Stock picks — Assore and Macerich
Joseph Busha from JM Busha Investments and Drikus Combrinck from Capicraft talk to Business Day TV
Joseph Busha from JM Busha Investments chose Assore as his stock pick of the day and Drikus Combrinck from Capicraft chose Macerich.
Busha said: “I think if you look in terms of what has happened in the past two weeks, iron price up about 10% on Friday 3%, so the price has been depressed. They are down 23% for the year, today obviously a little bit of response and 7% up, so I think the earnings remain kind of high compared to the price and they have to converge at some stage.”
Combrinck said: “It is listed in New York and it’s one of the bigger mall Reits [Real estate investment trusts] in the US. It’s yielding almost 10% at the moment, so those type of companies have been decimated, including the high-quality Simon Property Group.”
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