The market is turning its nose up at investment behemoth Remgro, with the discount to intrinsic  value reaching an unprecedented 45% last week.  

I have been most content to accumulate at these levels. Remgro has done a fair bit of value unlock in recent years — including the unbundling of FirstRand and Grindrod, as well as the dismantling of the RMI insurance cluster and a long-overdue restructuring at RCL Foods...

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