Marc Hasenfuss Investors Monthly editor, writer & columnist

I am a shareholder (or at least a preference shareholder) in deep-value investment company RECM & Calibre (RAC), which really makes an effort in its financial statements to provide in-depth and frank commentary rather than the mundane corporate-speak so typical of many companies on the JSE.

I was looking forward to this year’s final results (to end March) to see how the company dealt with its disastrous investment in building supplies group Distribution & Warehousing Network (DAWN)...

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