WATCH: Stock picks — Truworths and luxury goods
Alex Duys from Umthombo Wealth and David Shapiro from Sasfin Securities talk to Business Day TV
Alex Duys from Umthombo Wealth chose Truworths as his stock pick of the day and David Shapiro from Sasfin Securities chose the luxury goods sector.
Duys said: “I see Truworths as a typical old-fashioned value investment type of a case, yes, we all know the growth margins were bad and the buyer is under pressure. The positives, Truworths generate huge amounts of cash and I think their dividend is certainly sustainable.”
Shapiro said: “I choose a couple of stocks in the luxury sector, I think with this coronavirus it caused a slight sell-off and I think that the sell-offs are going to be overdone.”
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