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....