The near mythic status of Stellenbosch-based investment business PSG Group, since its founding in 1996, rivals that of US-based investor Warren Buffett. The group, now worth R41bn, has made millionaires (and billionaires) of its early followers.

But lately revered tones have given way to mutterings of widening discounts to PSG’s sum-of-the-parts (SOTP) asset valuation.

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