Earlier this week, January 17, was "Blue Monday", allegedly the most depressing day of the year, at least in the UK. The third Monday of the year is around the time the energy spike of new year’s resolutions for lots of people wears off. Many are busy with work, and no matter how much some of us might love our jobs, the sense of being stuck in a hamster wheel affects even the best of us. For those out of love with their work, the dissatisfaction after annual leave can be more acute. If we believed the myths surrounding Blue Monday, we might be fated to feel down.
After nearly two years of the pandemic, in which no-one has escaped from physical, emotional or mental hardship, we are all fatigued. I know I find myself pondering over how this will ever end, and what will be our moment of exit, if ever. The mental health toll, in particular is high, as has been extensively reported, and only time will tell what long term impacts these months have had on our well-being, including the actual after-effects of "long Covid".
I admit that I’m exhausted. I feel down and I don’t want to feel like this anymore. My own story, which I’ve written about previously, is one of caring for young children and vulnerable parents through medical emergencies, along with working and being involved with issues of social injustice. Everyone has their own tale to tell, and for those who have lost loved ones, often in the worst of circumstances, the hardship is even greater.
For many of us, this feels exacerbated by not knowing when it will all end, coupled with the ups and downs of life. If only there was an end date, even far away, how much easier it would be to manage, I tell myself. But I wonder if this is a soothing fiction. Have some of us run out of the inner fuel in our reserve tanks? Like Blue Monday, are we fated to live in this seemingly perpetual gloom and uncertainty?
It turns out that Blue Monday isn’t a scientifically proven fact after all, despite its seemingly legitimate basis. After all, it sounds plausible. But pessimism can pander to our need to validate misery. And this year it feels like we have every legitimate reason to see misery around us.
In fact, Blue Monday was invented in 2005 as a marketing ploy for a travel company called Sky Travel, supported by a scientist that created a formula to calculate our misery. The company has gone bust, and whether the marketing sold more plane tickets, who knows. But the outcome is that we’ve created an annual homage to pessimism on the third Monday of the year.
A friend and I have vowed to set up an “Optimism Club” on Whatsapp
Maybe we don’t need to be trapped in pessimism and what we need is a healthy dose of optimism. After all, it seems that optimism really can make us live longer. A 2019 study published in the Proceedings of the National Academy of Sciences found participants with highest versus lowest optimism levels had 1.5 (women) and 1.7 (men) greater odds of surviving to age 85.
If you look for it you can see optimism in headlines. Most notably there is cautious optimism about the mildness of the Omicron variant and the possibility that the peak is subsiding. With the potential of ever milder variants and improving anti-viral drugs and treatments, dare we feel hopeful?
But even if there are still difficult times to come in the pandemic, optimism may well be the drug that we really need to keep going. A friend and I have vowed to set up an “Optimism Club” on Whatsapp, where the only thing members are allowed to post are positive news stories and upbeat thoughts. Is that Pollyanna-ish? Maybe. But given the overwhelming gloom surrounding us, why not have an oasis of optimism? Shouldn’t a vitamin boost of joy be a daily must-have supplement? We are what we read. And the more we seek out a particular topic, the more we think about it. Instead of going down rabbit holes on social media of conspiracy theories why not fill our minds with positivity?
We are not obliged to choose the negative path. We are not doomed to feel pessimistic. If we seek our more cheerfulness, we will feel more cheerful. And if we believe that we should feel optimistic then our natural bent towards confirmation bias (the tendency to look for things that agree with our existing views) will mean we seek further optimistic stories. This is a virtuous circle if ever there was one. Better to be trapped in that than an endless cycle of despair. Choose positivity. Choose optimism. Choose – if you like to – to start your own optimism club.
3%20Body%20Problem
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
THE LOWDOWN
Romeo Akbar Walter
Rating: 2/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Robby Grewal
Cast: John Abraham, Mouni Roy, Jackie Shroff and Sikandar Kher
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Results
2.30pm Maiden (PA) Dh40,000 1,200m
Winner Lamia, Tadhg O’Shea, Ernst Oertel.
3pm Handicap (PA) Dh40,000 1,000m
Winner Jap Al Afreet, Elione Chaves, Irfan Ellahi.
3.30pm Handicap (PA) Dh40,000 1,700m
Winner MH Tawag, Bernardo Pinheiro, Elise Jeanne.
4pm Handicap (TB) Dh40,000 2,000m
Winner Skygazer, Sandro Paiva, Ali Rashid Al Raihe.
4.30pm The Ruler of Sharjah Cup Prestige (PA) Dh250,000 1,700m
Winner AF Kal Noor, Tadhg O’Shea, Ernst Oertel.
5pm Sharjah Marathon (PA) Dh70,000 2,700m
Winner RB Grynade, Bernardo Pinheiro, Eric Lemartinel.
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Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
Muguruza's singles career in stats
WTA titles 3
Prize money US$11,128,219 (Dh40,873,133.82)
Wins / losses 293 / 149
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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