Market Wrap - Stock pick — cash
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Viv Govender from Rand Swiss Offshore chose cash as his stock pick of the day.
"Unfortunately my stock pick is cash, I do think that the coronavirus is going to have a bigger impact than we think. The impact on Chinese growth rates for instance, it can possibly be 1% as some people are forecasting at the moment. I don't understand how you can have half the country locked down for two months and have your growth rate still be 5% for the year. It's been very difficult for China to hit that level even with its governments stimulus, so I do think that it is going to be a quite a rough ride for a while."
"Unfortunately my stock pick is cash, I do think that the coronavirus is going to have a bigger impact than we think. The impact on Chinese growth rates for instance, it can possibly be 1% as some people are forecasting at the moment. I don't understand how you can have half the country locked down for two months and have your growth rate still be 5% for the year. It's been very difficult for China to hit that level even with its governments stimulus, so I do think that it is going to be a quite a rough ride for a while."
