Roy Hodgson, left, watches Fulham draw 1-1 with Roma.
Roy Hodgson, left, watches Fulham draw 1-1 with Roma.
Roy Hodgson, left, watches Fulham draw 1-1 with Roma.
Roy Hodgson, left, watches Fulham draw 1-1 with Roma.

Sport

European exploits could hurt Fulham

While many Fulham fans rejoiced at the prospect of European football this season for the second time in their history, some of may have been forgiven for fearing the damage it could do to their Premier League status.

Alam Khan

October 25, 2009

  • English
  • Arabic

While many Fulham fans rejoiced at the prospect of European football this season for the second time in their history, some of may have been forgiven for fearing the damage it could do to their Premier League status.Three games in a week can affect even the strongest of squads. Manchester City found this out last season when their spluttering league campaign was arguably not helped by the additional fixtures they faced playing in the Uefa Cup.

Not only did they miss out on success with defeat in the quarter-finals to Hamburg, but their 10th-place finish in the Premier League was not enough to claim a place in this season's inaugural Europa League. It was Fulham who claimed the spot. They head to Eastlands today and are now aware of how difficult it is to maintain a level of consistency when involved in both competitions. Roy Hodgson's side beat Hull on Monday to move into mid-table and gained an impressive draw against Roma on Thursday, but fatigue could now play a factor against City, according to the City manager Mark Hughes.

"It's a big ask for them," he said. "It's difficult when you're in Europe, as we found out at times to our cost, so we hope to benefit from that on this occasion." City are noticeably fresher without the European involvement, and Hughes should be able to call upon Kolo Toure and Craig Bellamy after injury ruled them out of the 1-1 draw at Wigan last weekend. Toure brings a calming authority to the defence and scored the winner against Fulham in their Carling Cup meeting last month. The impressive form of Bellamy has been a highlight of their campaign so far and Hughes hopes a fast pace could make the difference.

"The key will be tempo because Fulham are a difficult side to break down," he added. When Fulham won at City two seasons ago, it helped keep them in the top flight. Last season, a 3-1 victory went towards them reaching Europe. Hodgson said: "We have every reason to be confident going up there, but they have spent hundreds of millions on players and talking about them now is a bit different to talking about them the past two seasons."

@Email:akhan@thenational.ae Manchester City v Fulham, KO 7pm, Showsports 4

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.

Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
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Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)

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While you're here
History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

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Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon 

Sector:  Search engine for car buying, selling and leasing

Size: (employees/revenue): 11; undisclosed

Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A 

Investors: Wamda Capital, B&Y and Phoenician Funds 

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The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

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  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.

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Fulham