It is not until you run across a story like Jesse Smith's that you remember why this is called the US Open.
There is no shortage of longshots, wannabes and never-weres in the field. But scan a bio of any of the 155 other entrants who teed off yesterday and you will not find even one like his.
Smith is 33 and has yet to hit a shot on the PGA Tour. Golf was not even on his radar until he was well into his teens. He did not have much of an amateur career, either, unless you count talking his way onto the Colgate golf team.
While trying to carve out a living on the mini-tours from Canada to the Deep South afterward, he spent part of each year living in his grandfather's log cabin on the Six Nations Territory near Brantford, Ontario. It was hardly a hotbed for the game.
"One day up there, it was 95 degrees, really hot for that place, so I knocked off after four or five hours of playing and came inside," Smith recalled. "My grandfather came straight over and looked me in the eye. All he said was, 'Jesse, if you want to be better, you have to practise more'.
"I turned around and went back out. He died six years ago, but I can still hear those words."
Yet anyone who expected Smith to reach the big time would have bet it would be hockey or baseball. He learnt those games from his father, Guy, a full-blooded Mohawk who played at the University of New Hampshire and in the old World Hockey Association before becoming a high-school coach.
One day, Guy Smith dropped his son off at the UNH rink, went to park the car and suffered a fatal heart attack at age 44. In the aftermath, the golf courses Jesse played sparingly growing up became the quiet places he turned to cope with his father's death.
"From morning till the sun went down, he'd hit me ground balls," Smith said on Wednesday, on a final tour of Merion Golf Club in preparation for his opening round. "When he coached us, he'd hit more to me than the other kids, probably harder grounders, too. But he never short-changed me on the teaching end, either ...
"He touched a lot of people. When I qualified to play here, I got more than a few text messages from friends reminding me of that."
Outside the gallery ropes, Lynn Smith was near tears - and this was just the practice round.
"I always knew it would happen," she said. "He struggled with golf, and as a mother I had a hard time with it. He'd say, 'Trust me', but honestly, it was hard.
"He struggled so much. But his father was the same way. He played pro hockey, then went back to school to become an equine veterinarian."
"He wanted Jesse to follow his own path. I guess," she added, brightening, "this is it."
It should not come as a surprise that finally making it into the field at a US Open was a struggle, too. On the second day of qualifying at Old Oaks Country Club some 10 days ago, Smith found himself at the par-4, 11th, facing a delicate pitch shot to a sliver of a green. He would have been happy to keep it within 15 feet. Instead, he holed it for an eagle to get to 3 under, then put years of persevering to good use by taking that score to the clubhouse as co-medallist and punching his ticket to the Open.
All those people who came to believe Smith might be that one-in-a-million late bloomer finally had something to hold on to. "A shot in the arm," is what David Glenz called it. He is Smith's coach and was his caddie that day.
"The self-belief this kid has is infectious. I finally saw what I knew was in him.
"I'll be honest. I almost expected more sooner, because he has plenty of talent. But considering Jesse's background, maybe that's where the lack of experience comes in. Winning at any level has a memory to it. We'll see if this sticks."
It might be too much to expect a guy with such a thin resume to make it into the weekend.
If so, the small gallery that accompanied Smith around on Wednesday - Glenz was back on the bag, and a handful of Guy Smith's old UNH hockey pals were escorting Lynn Smith from hole to hole - was determined to wring as much satisfaction as possible from every moment.
"But what keeps me coming back is that the game is a lot like life," Smith said.
"Everybody is faced with adversity, in different ways and different times, but what you end up with is usually a good reflection of how you dealt with it."
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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.”
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
England v South Africa Test series:
First Test: at Lord's, England won by 211 runs
Second Test: at Trent Bridge, South Africa won by 340 runs
Third Test: at The Oval, July 27-31
Fourth Test: at Old Trafford, August 4-8
The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
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