Police officers stop protesters from accessing Studioworks during the demonstration. Protesters gathered outside Studioworks to show their dismay against the BBC media bias. Getty Images
Police officers stop protesters from accessing Studioworks during the demonstration. Protesters gathered outside Studioworks to show their dismay against the BBC media bias. Getty Images
Police officers stop protesters from accessing Studioworks during the demonstration. Protesters gathered outside Studioworks to show their dismay against the BBC media bias. Getty Images
Police officers stop protesters from accessing Studioworks during the demonstration. Protesters gathered outside Studioworks to show their dismay against the BBC media bias. Getty Images


Why do people believe strange things - even if they are harmful?


  • English
  • Arabic

August 16, 2021

Probably the strangest TV film I ever made was about a group of churches in the mountains of the eastern United States where church members handle poisonous snakes as part of their religious worship. Near Newport, Tennessee I met church members who arrived with a Bible in one hand and a box of venomous copperheads or rattle snakes in the other. They prayed, they sang, they took the poisonous snakes from the boxes and handled them. The pastor – Pastor Alfred – patiently explained that “taking up serpents” showed faith in God.

I’m not afraid of snakes, but while the church members were friendly and welcoming, I did not see how “taking up serpents” would make me a better person in God’s eyes or anyone else’s. And I did not want to be bitten. Since that encounter I have often wondered why some people believe things that, to be blunt, seem to be at best eccentric and possibly dangerous to themselves and harmful to others.

My fellow Scots have occasionally been in the so-called delusion business. In the late 1690s, stories about gold and silver in the Americas led otherwise rational Scots to invest a vast amount of money in a scheme to create a Scottish colony in what is now Panama.

The "Darien scheme" involved sober-minded Scottish Presbyterians from a cold climate in Northern Europe somehow believing they could prosper in a hot, sticky, malarial area of the tropics, trading Scottish trinkets with the native inhabitants in exchange for food. Some 2,500 settlers went to Darien. Only one in 10 lived to tell the tale. Some 20 per cent of the money in circulation in Scotland was wasted.

When gold, miraculous health cures or ideas of religious salvation are involved, reason often flies out the window. The Scottish writer Charles Mackay delighted Victorian readers with his wonderful compilation of such stories. The title is Extraordinary Popular Delusions and the Madness of Crowds, a compendium of belief in preposterous ideas. These include money-making schemes such as the South Sea Bubble and Tulipmania in which tulip flowers suddenly became the 19th-century equivalent of Bitcoin to the point where greed overcame all reason.

What is striking about Mackay’s “delusions” is that beliefs, however odd, frequently triumph over reason. The outcome is generally disastrous for all concerned. In modern times it is difficult to understand why anyone could think that tulip bulbs would be Europe’s best investment, or that sending Scots dressed in tweeds to exploit the riches of Panama’s tropical jungle would end well. But recognising the human capacity to believe in things that make little sense brings us back to our supposedly rational world of 2021.

How will future generations view our beliefs today?

Anti-vaccine protesters gather outside the New Jersey State House in the US, but such scepticism towards jabs represents a global public health issue. USA Today Network
Anti-vaccine protesters gather outside the New Jersey State House in the US, but such scepticism towards jabs represents a global public health issue. USA Today Network

In Germany, a nurse is being investigated for injecting more than 8,000 patients with saline solution instead of a coronavirus vaccine. The nurse is said to have expressed sceptical views about the vaccination programme. If that nurse believed the programme was wrong or unsafe then it should be possible for any medical professional conscientiously to object personally to give that treatment. But if, as is being suggested, a medical professional deliberately did not give patients an agreed medical treatment or procedure, then that person is clearly unfit to practice medicine. Whatever be the nurse's motives – her lawyers insist it was a "one-time incident" that occurred due to panic and not led by her convictions – she has been dismissed from her position.

Examples of our ability to engage in 'popular delusions' teach us about the human condition

Meanwhile in London, a group of anti-vaccination protesters arranged to storm BBC headquarters, believing they needed to counter supposed BBC “lies” about the UK's vaccination programme. Unfortunately, the building they stormed was the old BBC Television Centre where I worked until 2012, when the BBC sold it. For years it has been converted into apartments with a few studios that are used mostly by independent production companies generally making light-hearted TV shows. The anti-vaccination movement in Britain has been notoriously unable to understand how science works but trying to storm a building not owned by the BBC for the past nine years suggests they are also not among the most rational, sensible or well-informed people on the planet.

All these examples of our ability to believe in things that make little sense and engage in “popular delusions” and “the madness of crowds” teach us quite lot about the human condition.

As Mackay’s book repeatedly demonstrates, one lesson is that strong beliefs often destroy all reason, and large groups of people believing hogwash is a problem not just throughout history, but also in our present and undoubtedly for our future. The second lesson is that delusions are dangerous not just for the deluded, but also for the subjects of their delusions. These include the hard-pressed security guards threatened at the old TV centre building, those bankrupted by Tulipmania, or who perished in Panama. But the deluded themselves may suffer most. Anti-vaxxers are the subject of ridicule, and in Britain some have, on their deathbeds from Covid-19, wished that they had been vaccinated after all. As for the snake handlers, I asked Pastor Alfred how he became pastor of a serpent-handling church. He told me that the previous pastor had died.

“How did he die?” I wondered.

“He got bit,” Pastor Alfred told me, by a poisonous snake.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EXare%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%2018%2C%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPadmini%20Gupta%2C%20Milind%20Singh%2C%20Mandeep%20Singh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunds%20Raised%3A%20%3C%2Fstrong%3E%2410%20million%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E28%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eundisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EMS%26amp%3BAD%20Ventures%2C%20Middle%20East%20Venture%20Partners%2C%20Astra%20Amco%2C%20the%20Dubai%20International%20Financial%20Centre%2C%20Fintech%20Fund%2C%20500%20Startups%2C%20Khwarizmi%20Ventures%2C%20and%20Phoenician%20Funds%3C%2Fp%3E%0A
How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

UAE currency: the story behind the money in your pockets
MATCH INFO

Everton 2 Southampton 1
Everton: Walcott (15'), Richarlison (31' )
Southampton: Ings (54')

Man of the match: Theo Walcott (Everton)

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

MO
%3Cp%3E%3Cstrong%3ECreators%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Ramy%20Youssef%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EMohammed%20Amer%2C%20Teresa%20Ruiz%2C%20Omar%20Elba%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The Facility’s Versatility

Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
 
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
 
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
 
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
 
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
 
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket

UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EQureos%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E33%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ESoftware%20and%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%243%20million%0D%3Cbr%3E%3C%2Fp%3E%0A
Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Updated: November 01, 2021, 12:48 PM