WATCH: Stock picks — cash and SA banks

Robert Towell from Sasfin Securities chose cash short term and SA banks to start buying as his stock picks of the day.

“I think in the short term cash is still quite good, but the banks are starting to look like a good level to start looking to start buying. They are starting to come back close to single-digit PEs [price to earnings ratios] with a good dividend, good balance sheets and well-managed businesses, so the banks are a sector of a SA economy I’ll be looking at.”