Robert Cameroon from Thebe Stockbroking chose Nasdaq 100 PRTF as his stock pick of the day.
“My stock pick is the Nasdaq ETF [exchange-traded fund], the Satrix one, and it’s denominated in rand on the JSE. It’s a very nice rand hedge. The rand has strengthened quite a lot so we are hedging against negativity, a possibility of a downgrade to subinvestment grade. Then with the G20 [Group of 20] meeting next week and if there is a trade resolution or something of that sort it means that your tech shares, which Nasdaq is heavy on, should react quite positively to that and, coupled with a rand hedge exposure, I like that for now.”
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