WATCH: Stock pick — cash and SP500
Deryck Janse van Rensburg from Anchor and Gary Booysen from Rand Swiss talk to Business Day TV
Deryck Janse van Rensburg from Anchor chose cash as his stock pick of the day and Gary Booysen from Rand Swiss chose a structured product.
Janse van Rensburg said: “I’m very concerned about the level of equity markets, I have been positioned in other asset class as being the bond market and your money market type solutions. That has just really been a parking bay to keep an eye on the currency. We had downgrades for SA, we saw the currency move beyond R19/$ and we’re finally getting a bit of rand strength and some reprieve in that.”
Booysen said: “We are very cautious and still hold our core equity holdings, but I think for new money at the moment, because of the disconnect between what the real markets are doing we price up something. We have a platform to price and create our own structured products, so we linked it to a structure where we take on the credit risk of a AA-rated bank.”
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