I know as I write these words the keyboards will be flashing ( well possibly some ) with lines like " The Ruperts are intelligent managers" and "Never sell their shares" BUT Here is the argument: Risk is not about the failure that follows excessive ambition ONLY - its about failure to acchieve its financial goals - which in this case (indicated) imply a broadly based portfolio and steady cash rich well run businesses. (Don't tell me they need time - what for to have another excessive Luxembourg Lunch??) The reality is nothing of the kind - Tobacco and cash plus some unknown small ventures???. Ergo: what is the investor paying for here - a play on the Euro Rand value - Naaah...Either:they are saving up to buy ? or they see the W in the market...which is faintly ridiculous on this platform Either way "must try harder"
I agree partridge. Reason I sold my stock since holding them from inception. The inactivity when there was such good value around was to exasperating for me. Seems like a vehicle to house the Ruperts intersts in BTI and a lot of cash. On top of that they get a fat management fee to pay for that lunch. My reinet money is now with go-getter entrepreneurs such as Mouton, Jooste etc.Thsy are adding value at pace.