There was a sigh of relief throughout the business world as CR17 was elected ANC leader. I am not really excited – he is still a politician. What fazes me is people (the economists and other fortune-tellers) wrote about how the ANC election was a watershed moment for South Africa. A CR17 victory would save us from Jacob Zuma and his henchmen.
Now, less than a week later these same people are writing about how they think the market has got ahead of itself or that they are treading cautiously. Media commentators never seem to be happy and always look for noise to write/worry about.
I thought today was fantastic. It was 27 degrees in Durban, I bought some CoreShares and Satrix ETFs in my EasyEquities tax-free savings account and drank good coffee. There are far better things to care about than Zumas and Guptas. Give it a try ;).