And so, before I know it, there I am back with all my eggs in one basket. But what eggs! What a basket!
There are, of course, obvious disadvantages to piling everything you have into a single stock but, if you have the nerve - and the right stock - there are also huge advantages.
For one thing, it makes life a lot easier; kiss goodbye to all that frenetic tracking of multiple stock movements. Open your account, crank up iTunes, kick back with a coffee and simply refresh Safari every couple of minutes. It's not an unpleasant way to pass the time and - coffee aside - much better for the old blood pressure.
It can also make more financial sense - provided, again, that you have the right stock. Sensibly spreading your funds over a number of stocks is, in a sense, a self-defeating exercise for the short-term trader. Some shares will go up, but almost inevitably others will come down, neutralising the gains.
You will never, ever, open your account and shout "whoo-hoo!". But "whoo-hoo!" was precisely what I found myself shouting this week.
I was, I must confess, forced into my brilliant stroke by a combination of circumstance and indolence. I ended last week with three holdings but, after a flurry of automated stop-loss and sell-limit actions, found myself with only BG and almost half my worth in cash.
I started to cast around for places to stash the newly liberated £8,139.38 (Dh48,113.13), although, I must admit, without much enthusiasm. It would have come down to hard work or dumb luck - plucking out of the hat rabbits that could easily turn out to be turkeys.
Then I remembered something I had read about charts. The gist of it was that valid investment decisions could be made by focusing solely on the patterns etched on the price chart by the progress of a company's share value over the previous weeks, months and years, regardless of its business or who was in charge.
And BG's chart was revealing. So much so, in fact, that I decided to put everything I had into this one stock - and wished I had bothered to check out the charts earlier.
I had first bought BG shares on October 26, when the price was 1,197.5 pence. I have made subsequent additional purchases, at 1,246.5p, 1,249p and 1,272.5p, and now I have committed my remaining cash at 1,278.5p - the highest price in a six-month period that saw a low in June of 984p.
Dumb, you might think.
But before I bought, I zoomed out the price chart from six months to a year. A straight line drawn from BG's price in November 2009 to now revealed a steady angle of growth, not far shy of 40 degrees. Over the year to date, this has translated to an increase in share price from about 1,075p to 1,278.5p - a tremendous growth of about 20 per cent in one year.
But back in November 2009, who was to know? Well, anyone who took the trouble to glance at the charts, that's who.
Between December last year and the first week of January this year, BG's price soared, close to 1,240p, but then fell away again, just as dramatically. For three months, the chart of pronounced peaks and troughs did a good impression of a mountain range; at any point a punter could have pitched in low and bailed out high with a modest profit within a week or so - or vice versa.
Now, I have taken what might appear to be a big gamble by investing the lot at the high point in BG's year to date. Indeed, looking at the movements of the past 12 months, it would seem prudent to gamble on an imminent, albeit short term, tailing off in price, rather than a continuation of the overall upward trend.
But that's where perspective comes in.
Zoom out to two years, for example, and it is still possible to draw that rising diagonal line, this time from a low of 764.50p at the end of 2008 to today's 1,278.50p. Again, within that time frame, it is tempting to read a regularity in the undulations in the price, which suggests strongly that BG is bound to take a tumble soon - either to rally again in a few weeks, or as the first move in a downward trend that, on past evidence, could last for several months.
The five-year chart, however, tells a different story. For a start, that all-important upward trajectory is still there: a diagonal from a low of 520p back at the end of 2005, sweeping up majestically to 1,278.5p, but it is possible to see the more recent ups and downs in context, and as insignificant.
True, slap in the middle of that five-year line there is an accelerated growth in the share price - from about the third quarter of 2007 to the end of the second quarter of 2008 - followed by an even more dramatic collapse (though never to as low as the starting price), which lasts for about six months. But that, clearly, was the global economic crisis having its say - it was, in other words, nothing to do with this company and its underlying worth, which is assayed by the steady return to form that has followed.
Is it worth looking back even further? Certainly, the 10-year picture is an encouraging one, revealing that, bar the 2008 glitch, BG has been nothing but a money-maker. Indeed, this chart seems to scream that it won't be long before the price climbs back up to its all-time high of almost 1,400p.
And guess what? It's well on its way. Shortly after my investment this week, the price has jumped even further, to 1,316.5p - a gain of more than £700 in a single week, boosting the value of my portfolio to its highest point yet and teasingly close to breaking the £2,000 profit barrier. Whoo-hoo indeed!
What does BG do? Well, since you ask, it's the gas and oil exploration arm of the old British Gas, but frankly, who cares? That's the beauty of studying charts, and charts alone. It doesn't matter what game a company is in - the stark clarity of the line across the weeks, months and years, rather like the contrail of an aircraft high in the sky, tells you where it's been and gives you a pretty good idea of where it's going, regardless of crew or cargo.
jgornall@thenational.ae
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206-cylinder%203-litre%2C%20with%20petrol%20and%20diesel%20variants%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20286hp%20(petrol)%2C%20249hp%20(diesel)%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E450Nm%20(petrol)%2C%20550Nm%20(diesel)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EStarting%20at%20%2469%2C800%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
More from Aya Iskandarani
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Killing of Qassem Suleimani
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
About Seez
Company name/date started: Seez, set up in September 2015 and the app was released in August 2017
Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer
Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon
Sector: Search engine for car buying, selling and leasing
Size: (employees/revenue): 11; undisclosed
Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A
Investors: Wamda Capital, B&Y and Phoenician Funds
Full Party in the Park line-up
2pm – Andreah
3pm – Supernovas
4.30pm – The Boxtones
5.30pm – Lighthouse Family
7pm – Step On DJs
8pm – Richard Ashcroft
9.30pm – Chris Wright
10pm – Fatboy Slim
11pm – Hollaphonic
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ESingle%20front-axle%20electric%20motor%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E218hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E330Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%20%3C%2Fstrong%3E402km%20(claimed)%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh215%2C000%20(estimate)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3C%2Fp%3E%0A
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
'Brazen'
Director: Monika Mitchell
Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Rating: 3/5
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
Schools to implement online system to encouraging transparency and accountability
Our Time Has Come
Alyssa Ayres, Oxford University Press