David Driscoll
Massmart Holdings
MSM-SJ
TOP PICK
Jul 04, 2008
(South African exchange.) Like a Costco in North America without any Wal-Mart competition. When he goes into an emerging market he likes to use a financial or consumer stock because it gives quick access to the entire economy. Revenue growth in South Africa is about 15% versus 4% in North America. Yield of about 5.5%.
(Past Top Pick Feb 15/07. Down 8.5%.) General merchandise company. Dropped only because int. rates have been rising in South Africa where GDP growth is 6% to 8%. North America retail sales growth is 4% while theirs is 12%-15%. Stock trades at a PE of about 11.
(A Top Pick Dec 6/07. Up 26%.) (South African exchange.) Still buying. Like a Costco with no Wal-Mart competition. Revenue growth of 15%. Long-term hold.