MONACO // Six-time grand slam tournament champion Novak Djokovic faces an anxious wait to see how long his right-wrist injury will keep him off the court with the French Open five weeks away.
Djokovic lost his Monte Carlo Masters title on Saturday after being beaten 7-5, 6-2 by Roger Federer in the semi-finals, where the Serb played with heavy strapping on his right wrist and was unable to serve or return to his usual level.
“I just rest now. I cannot play tennis for some time. How long, I don’t know. It’s really not in my hands any more,” Djokovic said. “I’m going to rest and see when it can heal 100 per cent, then I will be back on the court.”
There was some bright news. “The good thing is I don’t need to have a surgery. I don’t have any rupture or something like that,” Djokovic said.
“I’m going to go see doctors tonight and then tomorrow again have another MRI [scan], see if anything changed in this seven days since I had the last one.”
He does not know what the exact injury is. “I heard so many things in the last 10 days,” Djokovic said. “Trust me, it’s complicated.”
The world No 2-ranked Serb had complained earlier this week about the pain but then said it felt better after taking a day off from playing and training between his matches on Tuesday and Thursday.
His arduous quarter-final win against Spain’s Guillermo Garcia-Lopez on Friday, which went for more than two hours, aggravated the pain.
“Long match, long rallies, heavy balls, definitely did not help the state of my arm,” he said. “Since last night, it was as it is now.”
Djokovic was looking to win his fifth straight Masters title but felt he was up against it from the outset.
“The pain was there every single day from 10 days ago. At some stages, it was very painful,” he said.
“I didn’t want to pull out [against Federer] because then people start talking different things about me and my withdrawals and so forth. That was the main reason.”
While injury has affected Djokovic, Rafael Nadal had his cloak of clay court invincibility ripped to shreds by David Ferrer but said he would not panic.
The world No 1 had just his third career defeat in Monte Carlo when he slumped to a shock 7-6, 6-4 quarter-final loss to his compatriot on Friday.
Nadal had won the Monte Carlo title for eight successive years from 2005 to 2012 before his run was ended in 2013 by Djokovic in the final.
Friday’s loss was his earliest in the principality since a third-round exit against Guillermo Coria on his debut appearance in 2003, when he was 16 years old.
For Ferrer, it was a first win on clay against the 13-time major winner since Stuttgart in 2004.
Even Nadal, whose season so far has seen titles in Doha and Rio and runners-up spots at the Australian Open and Miami, felt the shock waves.
“I started the year great in Doha and during Australia, but I don’t have to lie,” he said.
“After what happened in Australia it was a little bit harder for me to find again the intensity, the confidence, the inside power that always I have.
“Even if I won Rio, I played the final in Miami, there remains something in my mind and in my game. I’m going to fight to try to find that solution soon.”Nadal also said that he is injury-free with the back pain that sabotaged his Australian Open final dream no longer an issue.
“The back is in good shape,” he said. “Physical performance is in good shape.”
Nadal knows that this is not the time to press the panic button and recent history suggests he is right not to do so.
Next week he heads to Barcelona, where he is an eight-time champion and where he boasts a record of 40 wins against one loss, which he recorded in 2003.
Then it is on to his defence of the Madrid Masters title and Rome, where he won for the seventh time in 2013.
In the Italian capital, Nadal has 41 wins and just two defeats – against Juan Carlos Ferrero in the second round in 2008 and to Djokovic in the 2011 final.
Even those two losses failed to affect his French Open hopes.
In the French capital, Nadal remains the king with eight titles and a record of 59 wins in 60 matches.
In the other semi-final, third seed Stanislas Wawrinka produced a ruthless display to beat Ferrer 6-1, 7-6 and set up an all-Swiss final with Federer.
Follow our sports coverage on Twitter @SprtNationalUAE
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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Three ways to limit your social media use
Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.
1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.
2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
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Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
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Joker: Folie a Deux
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