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Barend Dippenaar
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Give Jooste and the facts a chance

07 September 2018, 16:44

Ferial Haffajee appears to talk from her pocket. That is not the way an esteemed reporter like she has to go. 

She has already convicted and sentenced Jooste even before a single witness has produced any evidence of wrong-doing against him. But let us give credence to a well-known fact.

When a company, very popular with investors, suddenly shows, not jus a crack, but an immminent implosion, the first to abandon ship are the institutional investors who withdraw billions of rands from the shares, then a colllapse, nothing less, causes a downward spiral exactly as has happened to Steinhoff.

Check this fact out with any experienced stockbroker. He will confirm that there is always an incredible over-reaction from shareholders when initial concern leads to panic and panic leads to over-reaction and financial collapse. This is what happened to the collapse of the Steinhoff share price and whether Jooste is guilty of anything or not, these normal facts need to be borne in mind.

But we, like Ferial, are very predictable. We always look for a scapegoat. We want to punish somebody for our losses, and in this case through a convergence of circumstances, no less exacerbated by the admission of "mistakes" by Jooste, he becomes a convenient target. In justice there is fairness and at this stage we need to be clinically fair. Give Jooste and the facts a chance before we become hysterical. 

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