Stock Watch - Stock picks — Ferrari and cash
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David Shapiro from Sasfin Securities chose Ferrari as his stock pick of the day and Wayne McCurrie from FNB Wealth & Investments chose cash.
Shapiro said: "Ferrari is traded at an all-time high yesterday and continued today. Their third quarter numbers were absolutely staggering, to think that people in this kind of climate continue to buy Ferraris, it's astonishing but it happens and the company's even looking for for ongoing gains in the fourth quarter."
McCurrie said: "I'm still going to sit back on cash. I think there could be a bit more uncertainty coming over the next while but I'm not worried about the level of overseas markets. The economy is recovering, there are earnings, interest rates are clearly not going up and the long bond is staying very low. But, just in the very short term, sit back and wait."
Shapiro said: "Ferrari is traded at an all-time high yesterday and continued today. Their third quarter numbers were absolutely staggering, to think that people in this kind of climate continue to buy Ferraris, it's astonishing but it happens and the company's even looking for for ongoing gains in the fourth quarter."
McCurrie said: "I'm still going to sit back on cash. I think there could be a bit more uncertainty coming over the next while but I'm not worried about the level of overseas markets. The economy is recovering, there are earnings, interest rates are clearly not going up and the long bond is staying very low. But, just in the very short term, sit back and wait."
