Marc Hasenfuss Editor-at-large

When you invest in small caps, no sooner has your long-held faith in an overlooked and undervalued stock started paying off than you find yourself doubting your conviction and pondering whether it’s best to take profit.

Take Santova Logistics, perhaps the poster child of the JSE’s small-cap sector. Since peaking at a record high of 438c in August last year, Santova has shed almost 45% of its market value.

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