Do you think the investment holdings model even works anymore in SA? Sabvest sitting at R145.01 but most of…by @cape_steel on $SBP

Do you think the investment holdings model even works anymore in SA? Sabvest sitting at R145.01 but most of the big money is just buying the underlying stocks direct instead of paying for the holding company discount. Where's the actual value add versus just owning Zeder or Bravura or whatever they hold.