Golden State Warriors general manager Bob Myers believes he has done all he could to improve the roster with the moves he made – and didn’t make – this summer.
Myers’ main concern is no longer the talent on the team. Instead, it’s how healthy that talent can remain through the grind of the NBA’s 82-game season.
Myers gave Golden State fans good news on that front Tuesday, saying the franchise’s core players – Stephen Curry, Klay Thompson, Andre Iguodala, David Lee and, perhaps most notably, Andrew Bogut – are all healthy heading into training camp next week. New backup guard Shaun Livingston will likely miss all of camp recovering from toe surgery, Myers said, though he could be ready by the end of the pre-season.
Expectations are still as high as ever in the basketball-united Bay Area.
The Warriors are coming off a 51-win season and back-to-back play-off appearances, and owner Joe Lacob’s decision to fire coach Mark Jackson and replace him with Steve Kerr this summer sent the message that the he wants to win a championship – and win a championship now.
Myers said the team is embracing those goals.
“It’s good to have expectations, because the alternative is nobody thinks you’re any good and you’re trying to prove to everybody that you are,” he said. “But I think what’s key and what’s maybe turned with this team a couple years ago and having been in the play-offs for a couple years is the players actually believe they belong.
“And that’s important, because it used to be with this organiasation, it used to be a close game, and five, six years ago the mindset was, ‘Well, we’re not going to win. We just don’t win.’ And then it became, ‘Well, we might win. We might win this game.’ And now I hope as we enter into games, every game we feel like we should win. It’s a mindset switch. I don’t think our players are afraid of the expectations.”
Even still, Myers said expectations are difficult to set now because injuries have had such a huge impact on the team’s performance the past two seasons.
Iguodala, Lee and Bogut sat out for long stretches last season, but the biggest blow came when Bogut – who missed 50 games during the 2012/13 season – fractured a rib on his right side just before the play-offs. The Warriors still showed a lot of fight without their big man, pushing the third-seeded Los Angeles Clippers to seven games before losing the opening-round series.
“At the end of the year, what you have to look at is how healthy were we? How hard did everybody work? What did we do to deserve success?” Myers said. “Sometimes you can do everything right and things just don’t go your way. And sometimes things fall into your lap you don’t deserve.
“So at the end of the year, I’m hoping that as an organisation we can say we put it all out there, everybody did their jobs and everybody worked hard to achieve success. And I do think we have the talent to achieve some things, but it’s hard.”
Myers said keeping the team’s talented young nucleus intact and overhauling the reserves were the biggest achievements this offseason.
The additions included Livingston, Brandon Rush and Leandro Barbosa. The Warriors decided not to bring back guards Steve Blake and Jordan Crawford, and free agent centre Jermaine O’Neal is still deciding whether to return for a 19th season – a decision Myers said could come before the team begins training camp September 30.
The Warriors jumped into the trade talks for Kevin Love this summer, but they refused to include Thompson in the deal, and Minnesota ultimately moved Love to Cleveland. Myers has stood by that decision, believing all along that Curry, Thompson and Co could carry the Warriors to a title.
Golden State are certainly set up for several more play-off runs behind that core, which also includes reserves Draymond Green and Harrison Barnes, and Myers is banking on that young talent to mature even more this season.
“Organic growth,” Myers said, “is the easiest way to get better.”
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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.”
The nine articles of the 50-Year Charter
1. Dubai silk road
2. A geo-economic map for Dubai
3. First virtual commercial city
4. A central education file for every citizen
5. A doctor to every citizen
6. Free economic and creative zones in universities
7. Self-sufficiency in Dubai homes
8. Co-operative companies in various sectors
9: Annual growth in philanthropy
The biog
Profession: Senior sports presenter and producer
Marital status: Single
Favourite book: Al Nabi by Jibran Khalil Jibran
Favourite food: Italian and Lebanese food
Favourite football player: Cristiano Ronaldo
Languages: Arabic, French, English, Portuguese and some Spanish
Website: www.liliane-tannoury.com
SPECS
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MATCH INFO
Scotland 59 (Tries: Hastings (2), G Horne (3), Turner, Seymour, Barclay, Kinghorn, McInally; Cons: Hastings 8)
Russia 0
The%20specs
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Company Profile
Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
NEW%20UTILITY%20POLICY%3A%20WHAT%20DOES%20IT%20REGULATE%3F
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Crime%20Wave
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Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar