If someone came to you tomorrow with R100m to invest in just one company, which would it be?

That question calls for a one-in-a-million decision, but then again author Terry Pratchett wrote that million-to-one chances work nine times out of 10, so if that is the case I would choose investment trust Scottish Mortgage. Its philosophy is based on the principle that it’s far worse to miss out on an opportunity than it is to make a mistake here and there when buying into a company. It has been doing this for 110 years and in that period had to reduce its dividend only once — during the Great Depression, in 1933...

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