Interim Tottenham manager Tim Sherwood aims to take the interim off his title after his side beat Southampton on Sunday. Dylan Martinez / Reuters
Interim Tottenham manager Tim Sherwood aims to take the interim off his title after his side beat Southampton on Sunday. Dylan Martinez / Reuters

‘I don’t want this job for five minutes’ says Sherwood, looking into Spurs future



Tottenham Hotspur’s interim head coach Tim Sherwood hopes to be given the job on a permanent basis after a 3-2 victory at Southampton in his first Premier League game.

Sunday’s success at St Mary’s got Spurs back on track after they were thrashed 5-0 at home by Liverpool in Andre Villas-Boas’s last game and Sherwood now wants to discuss his future with chairman Daniel Levy.

“What would be ideal for me would be to have a chat with the chairman and see what’s best for the football club moving forward,” he said.

“I need to know what they’re thinking. I don’t want this job for five minutes. That’s no interest to me. Are we going to move it forward or not?

“There are some great candidates out there for this job. It’s a massive club with history and tradition. But whatever happens needs to be right for me, too.

“Whoever takes this job is in a good position. Andre has left the club in a good state. There’s nothing wrong with the job he’s done. Top of the league in the European competition (Europa League).

“Hopefully someone else can take it on to the next step.”

Sherwood put down his own marker with the victory at Southampton, when his team could have won more convincingly after a shaky start.

Key to the win was his decision to persevere with Emmanuel Adebayor, the Togolese striker who was frozen out by previous manager Villas-Boas but scored twice against Southampton.

“Listen, we all know Adebayor, we all know he’s a top player,” Sherwood said.

“He doesn’t need any motivating to go and play now because he’s not played for a long time. I’ve not said anything to him, nothing. It’s down to him.

“I’ve not had to gee him up. I just said: ‘There you go Ade, go and play and attack.’

“He was never a moment’s problem with me, to be honest. I’m always honest with players. If they give me respect, I’ll give it to them back.”

Sherwood also brought on 19-year-old Frenchman Nabil Bentaleb for his debut as a second-half substitute ahead of more experienced and more expensive players on the bench.

“A lot of these new players I don’t even know,” admitted Sherwood, who has been promoted from his role as technical coordinator.

“I’ve had three days training with them. It’s about the heat of the battle and knowing who you can trust, and the kid’s ready to play.

“That’s a problem at a big club. At Southampton, with the greatest of respect, their youngsters get a chance.

“When you’re at a club like Tottenham spending £110 million ($180 million, 131 million euros) in the transfer window, it’s difficult to get an opportunity.

“But I knew what I was going to get. I knew he wouldn’t be fazed. He was cool. He trains like every day is the last day in the world, listens, and has a fantastic attitude.”

Southampton have problems of their own. They were without six first-team players against Tottenham and have not won for six matches.

“We’re going through a very tough time at the moment, lacking a full squad, players suffering injuries and illness,” manager Mauricio Pochettino said.

“I am concerned about that situation, because we need to rediscover our defensive solidity. That’s our main goal at the moment.

“The team has dropped its levels after losing against Arsenal and Chelsea. You need a full squad to maintain those levels, and we’re struggling to do that right now.”

It did not help that stand-in centre-back Jos Hooiveld scored his fouth own goal in 25 games to put Tottenham ahead early in the second half.

“These things can happen,” Pochettino said.

“Not just him, but the whole team needs to regain the confidence we had at the beginning of the season. The game at Cardiff (on Thursday) is an opportunity to pick ourselves up and regain our winning ways.”

Last 10 NBA champions

2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

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How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

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