A share for the times - a "conservative" financial growth stock? If she offloads BAT at all time highs(or just neutralises the downside risk through carefully designed collars[as she has started to do]) and applies the almost tax-free capital raised against he BAT position to private opportunities at less than half price in this market, she could see the applied multiple double in the listed environment and more than redouble under the shadow of her pedigree. Then there will be a rerating for growth and the 70% potential upside in reaching her underlying value after shedding BATS. Given that these are growth companies bought at or near (hopefully) a cyclical bottom - the upside could be fantastic. It's been a slow, steady march from R10 to R34 over 6 years - I can see the potential for a ten bagger from these levels on this one. I wish I had kept my full position but I still have plenty to keep me interested!
There is not enough Warren in this to Buffet me into action. What is it going to look like - in 5 years time - minimal fags hopefully and a proper profile - in insurance with play money on the side? ( I do hold)
Rupert has a substantial chunk of his personal wealth tied up here... so I'm betting he will look after it well! Bats creates the cash input and a conservative valuation as he unwinds this "cash" into more interesting stories.