If someone came to you tomorrow with R100m to invest in just one company, which would it be?I would invest it in Simon Property Group. It is not only the world’s largest publicly traded real estate company, but also the largest shopping centre landlord globally. The company owns more than 200 shopping centres in the US and Asia, and holds a 29% stake in Klépierre, a European real estate investment trust with more than 250 shopping centres across Europe. I prefer exposure to retail property as I believe it is more defensive and less cyclical than office and industrial property. It is also a sector where the barriers to entry are high and management can use creativity and innovation to differentiate their portfolios from others. Besides having strong fundamentals, the stock is trading at a 15% discount to net asset value, which I believe is good value for money.Which talent would you most like to have?To learn and speak as many foreign languages as possible.What was your first job?My ...
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