Is it just me, or are most "how-to" and self-help books transparently little more than a repackaging of hoary old chestnuts and attractively redecorated restatements of the blindingly obvious - and, thus, a spectacular waste of money, time and trees? Take The Art of War, by the much-vaunted (though quite possibly entirely fabricated) Sun Tzu, supposedly written some time around 500BC. This treatise is so chock full of transparently trite truisms that Chinese armies of the period must surely have been commanded by halfwits.
Despite - or, perhaps, because of - the superficial nature of the advice contained in The Art of War, it has spawned a self-help sub-category all its own, generating books beloved of everyone from students (who can't be expected to know any better) to captains of industry (who can. The Art of War for Managers? Oh, please). Next time you are in combat, Grasshopper, try this Sun Tzu tip: "You can be sure of succeeding in your attacks if you only attack places which are undefended".
Uh-huh. And its painfully obvious corollary: "You can ensure the safety of your defence if you only hold positions that cannot be attacked". Brilliant. Frankly, if you are a soldier and you find the advice contained in The Art of War helpful, you should immediately check your pulse. You are probably dead already. In some areas of life, however, it pays to take advice, no matter how apparently obvious. There are, of course, entire libraries of books dedicated to turning the likes of me into the Gordon Gecko of day trading - The Guts and Glory of Day Trading, A Beginner's Guide to Day Trading Online, The Complete Guide to Day Trading, Financial Freedom Through Electronic Day Trading, The Ultimate Day Trader and, inevitably, Day Trading for Dummies.
Each contains a core of sound advice - never borrow to invest, don't invest more than you can afford to lose, set a loss limit and stick to it - but many also offer cunning strategies that simply might not occur to the newbie. All are written to appeal to the bored office worker who dreams of the freedom of working from home and covering the mortgage with just a few deft clicks of the mouse - but a surprising proportion also seem to be pitched at those who fantasise about the freedom to work clad in nought but their smalls.
"Who wouldn't want to make US$5,000 [Dh18,360] a week from home, sitting in his or her underwear?" asks Josh Di Pietro in The Truth About Day Trading Stocks. "Working from home in your underpants always sounds wonderful when you read about it in the adverts," cautions day-trading coach Harvey Walsh (putting a fresh spin on the title of his course, Day Trading Freedom), "but the reality can be quite a shock."
Especially for the cleaner, I imagine. Frankly, it's not for me and I'd like to reassure readers right now that both underwear and trousers were worn - and at the same time - throughout the writing of this column. That said, despite his scant regard for sartorial propriety, Di Pietro is among those trading gurus who offer sound advice, even though some of it might sound like it is fresh from the Sun Tzu School of The Bleeding Obvious. The difference is that it has a practical application.
Take "Pick stocks that display tradable intraday price swings", with its corollary, "Stay away from charts that exhibit intraday flat patterns". In short-term volatility, in other words, can be found potential rich pickings. Scalping stocks several times a day can reap instant rewards but is a costly business if, like me, you pay a fee for each trade, and requires being glued to the screen for eight hours at a stretch.
Another way to go is to lurk around the fringes of a stock market's natural rhythms, pouncing on the swings from one day's close to the next day's opening, or from the end of one week to the beginning of the next. Public holidays, when a market might be closed for three consecutive days, create an even bigger window of opportunity. Anticipatory pressure (read "greed") often seems to build behind stocks that close up before the weekend - and that pressure is only intensified if the weekend is extended by an extra day.
This week, the London Stock Exchange was closed on Monday for a public holiday. It was time to test my mettle, and Di Pietro's advice. My best-performing stock for several weeks now has been Old Mutual, the insurance company. A small dip to about 123 pence per share at about lunchtime during the last day of trading, the Friday, was followed by a climb to 127.4p by the close of play. This also represented an impressive gain per share of 14.4 per cent since I first invested in this stock on July 20. In other words, if I had put my entire fictional stake of £15,000 (Dh84,900) into Old Mutual on July 20, it would now be worth in excess of £17,100.
Should I now sell, cut and run? Or was there still time to squeeze yet more juice out of Old Mutual? Maybe, with the assist of the long weekend. So at the close of play on Friday, with my portfolio standing at £15,307.67, I sold my three worst-performing stocks (though even they were doing reasonably well) - United Utilities (up 2 per cent) and Pearson and Sainsbury (both up 5 per cent) - and ploughed the proceeds into Old Mutual.
The result? Within minutes of the market reopening on Tuesday morning, Old Mutual jumped another 6 per cent, to 21 per cent higher than its July 20 price. Even my two remaining minority holdings, Admiral and Vodafone, were refreshed by the long weekend and rose 9 and 13 per cent respectively, altogether boosting the value of my holding to £16,133. What did you do at the weekend? I made £826. By the seat of my pants.
@Email:jgornall@thenational.ae
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Read more about the coronavirus
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
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.”
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
FINAL RESULT
Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)
Wanderers
Tries: Gormley, Penalty
cons: Flaherty
Pens: Flaherty 2
Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million