Tunisian President Kais Saied. Reuters
Tunisian President Kais Saied. Reuters
Tunisian President Kais Saied. Reuters
Tunisian President Kais Saied. Reuters

Kais Saied's increasing isolation has put Tunisia's political class on edge


Erin Clare Brown
  • English
  • Arabic

The morning after July 25, when President Kais Saied announced emergency measures to consolidate power in an attempt to lead Tunisia out of its political quagmire, new security roadblocks appeared around the presidential palace in Carthage.

In the weeks since, the barriers – both physical and political – between Mr Saied and the outside world have risen higher. The president has spent much of a 30-day "exceptional period", in which he has taken all executive, legislative and judicial power in his hands, out of view of both the public and the political class.

Although Mr Saied won public support with a nationwide vaccination campaign amid a Covid-19 surge, and the easing of a curfew in the last days of the summer holiday, he has not yet appointed a new head of government nor outlined a plan to lead the country out of the crisis.

As the Tuesday deadline for the end of the exceptional period approached, politicians from across the spectrum, civil society leaders and analysts were increasingly concerned about Mr Saied's isolation and what it could mean for Tunisia's future.

'Thirty days are not enough'

Despite the lack of a roadmap out of the crisis, Mr Saied enjoys broad support from a public that largely views the current political system as ineffectual and out of touch with its needs.

“We felt like we’d been suffocating for a decade," said Saied Shoura, a supporter of the president living in the coastal city of Sfax. "We were patient for 11 years, why not one more month?”

Many supporters hope Mr Saied will follow through on campaign promises to root out rampant corruption plaguing politics and business.

One of his first moves was to offer amnesty to an unpublished list of more than 400 corrupt businessmen from the Ben Ali era in exchange for their investment in special projects in the interior. Mr Saied said the businessmen had been responsible for $4.8 billion in losses over the years.

On Friday, he dismissed the head of the government's anti-corruption bureau. Security forces had raided the bureau's offices and removed files earlier in the day.

"It is naive to think you can root out 30-plus years of corruption in 30 days," said Kais Bouazizi, a Saied supporter in the interior town of Sidi Bouzid, who said it could take months for Mr Saied to tackle the problem.

  • Tunisians over 40 were welcomed at 335 centres around the country for the vaccine.
    Tunisians over 40 were welcomed at 335 centres around the country for the vaccine.
  • The Tunisian Scouts and others volunteered to help the process go smoothly.
    The Tunisian Scouts and others volunteered to help the process go smoothly.
  • Tunisia suffered a deadly fourth wave of Covid-19 in June and July, prompting many to come for vaccines they' had previously been hesitant about.
    Tunisia suffered a deadly fourth wave of Covid-19 in June and July, prompting many to come for vaccines they' had previously been hesitant about.
  • Each patient received a slip with their Evax confirmation number and the brand of vaccine they received, which would later be logged in government systems.
    Each patient received a slip with their Evax confirmation number and the brand of vaccine they received, which would later be logged in government systems.
  • Spotty internet and a sluggish government system threatened to derail the drive, but resourceful volunteers found work arounds.
    Spotty internet and a sluggish government system threatened to derail the drive, but resourceful volunteers found work arounds.
  • Nursing student Farouk Damak, 20, volunteered to administer jabs for the walk-in drive after spending the spring treating covid patients in hospital.
    Nursing student Farouk Damak, 20, volunteered to administer jabs for the walk-in drive after spending the spring treating covid patients in hospital.
  • People rest in the shade after receiving their first dose of AstraZeneca on Sunday.
    People rest in the shade after receiving their first dose of AstraZeneca on Sunday.
  • Hundreds of people from remote rural communities made the trek to the more than 300 walk-in vaccine centres across Tunisia.
    Hundreds of people from remote rural communities made the trek to the more than 300 walk-in vaccine centres across Tunisia.
  • Volunteers from organisations including the Red Crescent and the Tunisian Scouts came together to keep vaccine centres running smoothly.
    Volunteers from organisations including the Red Crescent and the Tunisian Scouts came together to keep vaccine centres running smoothly.
  • Nurses volunteered for the 12-hour shift, which they endured in 36° heat without air conditioning. "We have each other's backs," one of them said.
    Nurses volunteered for the 12-hour shift, which they endured in 36° heat without air conditioning. "We have each other's backs," one of them said.
  • Many of Tunisia's most vulnerable were able to receive their first jab after months of sluggish vaccination campaigns.
    Many of Tunisia's most vulnerable were able to receive their first jab after months of sluggish vaccination campaigns.
  • Technical troubles meant hundreds of people waited in the heat to get into the vaccine centre in Mornag.
    Technical troubles meant hundreds of people waited in the heat to get into the vaccine centre in Mornag.
  • A nursing student administers the coronavirus vaccine at a high school in Sfax, Tunisia, during the country's open vaccine drive.
    A nursing student administers the coronavirus vaccine at a high school in Sfax, Tunisia, during the country's open vaccine drive.
  • Ahmed Nursutlan, 78, said his family persuaded him to overcome his fear of needles to get the vaccine. "It was time," he said.
    Ahmed Nursutlan, 78, said his family persuaded him to overcome his fear of needles to get the vaccine. "It was time," he said.
  • Volunteers from the Red Crescent helped control the crowds.
    Volunteers from the Red Crescent helped control the crowds.
  • Doctors and nurses discuss another internet outtage as they wait for their patients at the vaccine centre in Mornag.
    Doctors and nurses discuss another internet outtage as they wait for their patients at the vaccine centre in Mornag.

It is likely Mr Saied will extend the exceptional period beyond the 30 days allotted in the constitution, some political watchers said. The only formal body that could challenge such a move is the constitutional court, which has yet to be formed even after six years of contention around seating justices.

Earlier this year, Mr Saied blocked legislation that would allow the court's creation, saying the parliament had failed to meet the deadline laid out in the constitution.

In the first days after his consolidation, Mr Saied met leaders of civil society organisations, including Neila Zoghlami, the president of the Tunisian Association of Democratic Women, to assure them his intentions were democratic.

But in the weeks since he has gone silent, leaving many to question what is happening behind closed doors at the palace.

“We cannot really predict what will happen at this point," said Ms Zoghlami. "The only thing we’re sure of is Saied telling us that 30 days are not enough and that he will be extending.”

A dearth of dialogue

Should the 30 days elapse without a concrete plan from the palace, Ms Zoghlami said her organisation and several others who have called on the president to swiftly form a new government will present their own "action plan".

Mr Saied has long been resistant to outside influence on his agenda or political dialogue with what he calls a corrupt system.

"The problem is, so far, Kais Saied has refused any dialogue with any political party," said Radwan Masmoudi, a member of the Ennahda party and president of the Center for the Study of Islam & Democracy.

"This has been the problem not just since July 25, but since last December when everybody was calling for a national dialogue."

As Tunisia's political situation deteriorated in late 2020, the powerful Tunisian General Labour Union (UGTT), which won the 2015 Nobel Peace Prize for its role as a mediator after the 2011 revolution, called for a national dialogue.

Mr Saied balked and continued to refuse participation even as anti-government protests often aimed at his hand-picked prime minister, Hichem Mechichi, spilled on to the streets in January and February.

The UGTT declined to comment for this article, saying it will wait until Mr Saied presents a plan.

In an interview in Jadaliyya, Hamma Hammami, the head of the Workers' Party, said Mr Saied's isolationism is "disturbing".

"He has not done anything, it seems, to discuss the destiny of Tunisia with the Tunisian people themselves," Mr Hammami said.

"Saied’s preferred modus operandi is to seat people, lecture them, and then dismiss them."

Mr Saied often peppers his lectures — to ministers, foreign delegations, and even Tunisia's Olympic gold medallist — with hints of what may come.

During a recent hour-long meeting with an interim minister, Mr Saied suggested he may soon appoint a head of government. Later in the conversation, he said those looking for a road map should "consult a geography book".

A war about governing

The silence from the palace at Carthage has created fertile ground for speculation about what may happen next.

"Saied is taking advantage of that ambiguity," said Habib Sayah, a Tunisian political risk analyst.

While many are speculating how Mr Saied will pull the economy out of the tailspin or fulfil his promises to battle corruption, Mr Hammami said the president's objectives were more myopic.

"The war between Saied and political parties is not a war over differing approaches to Tunisia’s economic problems. Neither is it a war about corruption. It is, at its core, a war about governing."

Many close watchers of the president say this war is his fundamental motivation, which explains why he is not consulting with current civil society leaders and politicians.

Mr Saied has long railed against the existence of political parties and advocated for a radically decentralised government.

"Since the electoral campaign or even before he has been focusing on his vision for an entirely new regime which would involve amending or even throwing out the current constitution," Mr Sayah said.

Mr Sayah is among many who think Mr Saied will present a new constitution for a referendum, a move Mr Masmoudi called "undemocratic".

"You cannot change the constitution by referendum," he said.

Still, Mr Masmoudi is clear-eyed about the discontent Tunisians are feeling after decades of poor economic growth and increasing unemployment.

"There are a lot of reasons for people to be angry, and I agree with them that we need to reform the political system," he said. "But we need to reform it through political or through democratic means, not by destroying the democratic process."

Ghaya ben Mbarek contributed reporting

RESULTS
%3Cp%3E%3Cstrong%3E5pm%3C%2Fstrong%3E%20Al%20Shamkha%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C400m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Ruwani%2C%20Moatasem%20Al%20Balushi%20(jockey)%2C%20Abdallah%20Al%20Hammadi%20(trainer)%3Cbr%3E%3Cstrong%3E5.30pm%3C%2Fstrong%3E%3A%20Khalifa%20City%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C400m%3Cbr%3E%3Cstrong%3EWinner%20%3C%2Fstrong%3EAF%20Heraqle%2C%20Bernardo%20Pinheiro%2C%20Qaiss%20Aboud%3Cbr%3E%3Cstrong%3E6pm%3C%2Fstrong%3E%20Masdar%20City%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20AF%20Yatwy%2C%20Patrick%20Cosgrave%2C%20Nisren%20Mahgoub%3Cbr%3E%3Cstrong%3E6.30pm%3C%2Fstrong%3E%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%202%2C200m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20AF%20Alzahi%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%3Cbr%3E%3Cstrong%3E7pm%3C%2Fstrong%3E%20Emirates%20Championship%20%E2%80%93%20Group%201%20(PA)%20Dh1%2C000%2C000%20(T)%202%2C200m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Ajrad%20Athbah%2C%20Bernardo%20Pinheiro%2C%20Majed%20Al%20Jahouri%3Cbr%3E%3Cstrong%3E7.30pm%3C%2Fstrong%3E%20Shakbout%20City%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%202%2C400m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Webinar%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
UK’s AI plan
  • AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
  • £10bn AI growth zone in South Wales to create 5,000 jobs
  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
What is a Ponzi scheme?

A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

Strait of Hormuz

Fujairah is a crucial hub for fuel storage and is just outside the Strait of Hormuz, a vital shipping route linking Middle East oil producers to markets in Asia, Europe, North America and beyond.

The strait is 33 km wide at its narrowest point, but the shipping lane is just three km wide in either direction. Almost a fifth of oil consumed across the world passes through the strait.

Iran has repeatedly threatened to close the strait, a move that would risk inviting geopolitical and economic turmoil.

Last month, Iran issued a new warning that it would block the strait, if it was prevented from using the waterway following a US decision to end exemptions from sanctions for major Iranian oil importers.

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
Teaching your child to save

Pre-school (three - five years)

You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.

Early childhood (six - eight years)

Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.

Middle childhood (nine - 11 years)

Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.

Young teens (12 - 14 years)

Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.

Teenage (15 - 18 years)

Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.

Young adulthood (19 - 22 years)

Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.

* JP Morgan Private Bank 

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

SPEC%20SHEET
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Silver%2C%20space%20grey%2C%20starlight%2C%20midnight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%20or%2035W%20dual-port%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C999%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

Score

Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

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" 

What%20is%20Dungeons%20%26%20Dragons%3F%20
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Zimbabwe v UAE, ODI series

All matches at the Harare Sports Club:

1st ODI, Wednesday, April 10

2nd ODI, Friday, April 12

3rd ODI, Sunday, April 14

4th ODI, Tuesday, April 16

UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed

The%20Last%20White%20Man
%3Cp%3EAuthor%3A%20Mohsin%20Hamid%C2%A0%3C%2Fp%3E%0A%3Cp%3E192%20pages%C2%A0%3C%2Fp%3E%0A%3Cp%3EPublished%20by%3A%20Hamish%20Hamilton%20(UK)%2C%20Riverhead%20Books%20(US)%3C%2Fp%3E%0A%3Cp%3ERelease%20date%3A%20out%20now%20in%20the%20US%2C%20August%2011%20(UK)%3C%2Fp%3E%0A
Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

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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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Updated: October 27, 2021, 4:21 PM