WATCH: Stock picks — cash and Richemont

Ian Cruickshanks from the South African Institute of Race Relations chose cash as his stock pick of the day and Paul Chakaduka from GT247.com chose Richemont.

Cruickshanks said the South African market will becomes an attractive investment destination at some point, “but that time is not now, there is too much uncertainty in the market at the moment”.

Chakaduka called Richemont more of “rand play” as “the rand is well on its way to a blowout”.

“If it does above R15 to the US dollar, Richemont will strongly benefit from that. Richemont is a solid business that has always produced good numbers and the markets that they are focused on remain robust.”