Brait SE, the investment company with billionaire Christo Wiese as its largest shareholder, is one of an unofficial club of JSE-listed companies that have made some investors extremely unhappy. As unhappy as a stock can make shareholders who have had to watch it plummet more than 90% from its peak.

This puts Brait in the league of Steinhoff International, Tongaat Hulett, ArcelorMittal SA, EOH Holdings and any number of construction companies that have all had to stomach a similar drop, though for different reasons.

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