United's early form ominous for rivals



While the goals have continued to fly in with bemusing regularity around the Premier League, there is at least one familiar sight. Manchester United, once again, are top of the table. Sir Alex Ferguson's side spent so long there in the division's 18-year history that it can feel like their natural place, with anyone else adopting the role of illegal squatters before United reclaim their territory.

Now, aided by Chelsea's defeat at Wigan, they have done that. Wins over Arsenal, Tottenham, Manchester City and Stoke amount to as impressive a quartet of consecutive results as the fixture list will permit any side to muster. Nemanja Vidic's defiance at the Britannia Stadium complemented the unhurried nous of Paul Scholes and Ryan Giggs. The latter, like Darren Fletcher and Wayne Rooney, has been a common denominator in all four wins, providing a consistently high level of performance few can rival. The entire team's winning habit is surely the subject of envy elsewhere.

And yet, and this is the element that should infuriate their challengers, United have assumed pole position while so many questions remain unanswered. Is Ben Foster, for instance, a worthy successor to Edwin van der Sar? The keeper kept a clean sheet at Stoke, but he erred in the Manchester derby. Is Rio Ferdinand, who has missed 30 of United's last 53 games, fit enough to figure regularly? Jonny Evans is a precocious deputy, but the value of the Ferdinand-Vidic axis was especially apparent at White Hart Lane.

Apart from the peerless Giggs, who are the first-choice wingers? Nani appeared Ferguson's favoured option, but he was ineffective at Stoke. Antonio Valencia's pace renders him one candidate, but he has veered in and out of the team, while Ji-sung Park's impact has been negligible. And is Dimitar Berbatov able to justify Ferguson's faith and his own hefty fee? The Bulgarian's importance is unquestioned now Carlos Tevez and Cristiano Ronaldo ply their trade elsewhere. He scored his second goal of the season at Stoke, without providing the indication - yet - that he will be prolific enough to compensate for the departed duo's absence.

Then there is the issue which has dominated discussion around Old Trafford this season: Michael Owen. One derby winner, no matter how dramatic, does not automatically render him the new Ole Gunnar Solskjaer. Unless Ferguson shows more willingness to play Danny Welbeck or Federico Macheda in the Premier League, however, that must be his role. Were Rooney to be sidelined, or Giggs, Fletcher or Vidic in their respective departments, the image would alter radically. Owen would have to resemble Rooney.

As it is, a core of players has played a disproportionate role in securing some of the most meaningful results of the season. At times United look unstoppable, but there are also occasions when they have progressed simply because no one has stopped them. The questions might not all amount to potential flaws, the shortage of automatic choices can merely be an indication of strength in depth. But Ferguson, who has quietly replaced Rafa Benitez as the Premier League's foremost practitioner of rotation, can demand plenty more from many of his players. Those who, due to injury or form, have had an undistinguished start of the season include Nani, Park, Michael Carrick, Wes Brown, Gary Neville and Foster. In addition, van der Sar, Rafael da Silva and Owen Hargreaves are still to appear.

Ferguson has long aimed to peak in March, April and May. As it is, his side enter October with the Premier League lead and obvious scope for improvement. And that, for their rivals, should be the most ominous aspect. rjolly@thenational.ae

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What is Diwali?

The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.

According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.

In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.  

 

PSG's line up

GK: Alphonse Areola (youth academy)

Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)

Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)

Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)

Total cost: €440.4m (€620.4m if Mbappe makes permanent move)

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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

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UAE currency: the story behind the money in your pockets
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
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Napoleon
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UAE currency: the story behind the money in your pockets
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Managing the separation process

  • Choose your nursery carefully in the first place
  • Relax – and hopefully your child will follow suit
  • Inform the staff in advance of your child’s likes and dislikes.
  • If you need some extra time to talk to the teachers, make an appointment a few days in advance, rather than attempting to chat on your child’s first day
  • The longer you stay, the more upset your child will become. As difficult as it is, walk away. Say a proper goodbye and reassure your child that you will be back
  • Be patient. Your child might love it one day and hate it the next
  • Stick at it. Don’t give up after the first day or week. It takes time for children to settle into a new routine.And, finally, don’t feel guilty.  
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding

The Outsider

Stephen King, Penguin

In The Heights

Directed by: Jon M. Chu

Stars: Anthony Ramos, Lin-Manual Miranda

Rating: ****

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

The Matrix Resurrections

Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

Rating:****

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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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Meydan race card

6.30pm: Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
7.05pm: Maiden (TB) Dh165,000 (D) 1,200m​​​​​​​
7.40pm: Maiden (TB) Dh165,000 (D) 1,400m​​​​​​​
8.15pm: Handicap (TB) Dh170,000 (D) 1,900m​​​​​​​
8.50pm: Rated Conditions (TB) Dh240,000 (D) 1,600m​​​​​​​
9.25pm: Handicap (TB) Dh175,000 (D)1,200m
10pm: Handicap (TB) Dh165,000 (D) 1,400m


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