Falcons game ends in mass brawl



DUBAI // Rugby league was given the most explosive baptism imaginable in the Emirates when a clash between the nascent UAE Falcons and Liban Espoir of Lebanon was abandoned with a quarter of the match still to play following a mass brawl between the players. Emirates Rugby League have mapped out a development programme in the hope that the UAE will qualify for the 2013 World Cup, starting with two matches against their Lebanese rivals.

However, they made an acrimonious start when the two sides clashed in the third quarter of a match divided into four to cope with the summer heat. The UAE led their more experienced rivals 16-6 when the referee said enough was enough. A disappointed Sol Mokdad, the director of development for the sport in the Emirates, said: "There is a big rivalry between the two sides. It was an extremely physical game, every hit was a big hit. It got out of hand, there was some dirty play at the ruck, and it all went off.

"It is a shame given the organisation that has gone into putting this match on," added Mokdad, who is from Lebanon. A rematch is scheduled for tomorrow night but Mokdad said the main perpetrators will be banned, pending a tribunal today. "We are trying to send a message that if these things happen, the players involved will be disciplined and the game will go on." pradley@thenational.ae

The specs

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The specs
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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5

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