David Shapiro from Sasfin Securities chose Estée Lauder as his stock pick of the day and Wayne McCurrie chose FNB Wealth & Investments chose Growthpoint.
Shapiro said: “I’m going for Estée Lauder and I’ll tell you why, I’m reading the book by Leonard Lauder, which has just come out a week ago, and it’s about the vanity of woman … Leonard is the man that created the lipstick index. It’s a fascinating book about the development of the cosmetic industry and how women were taken in by this need, even in bad times and particularly during the slump, so I’m saying whether I’m politically correct or not I think it’s a great company.”
McCurrie said: “I’m going a lot more conservative, going for deep-value shares. Growthpoint Properties in SA, if you want to make money on a two- to three-year basis, it’s more than likely not a bad place to be.”