Great golfing comebacks



Europe won 8.5 of a possible 12 points on the final day of the 2012 Ryder Cup at the Medinah Country Club, with Martin Kaymer coolly making the clinching putt, to overcome a 10-6 deficit and win the continental competition for the seventh time in the past nine stagings. The victory ranks among the greatest comebacks in golf history. Here are five others ...

1960, Arnold Palmer, US Open

Mike Souchak was seven strokes clear of Palmer at the start of the final round at Cherry Hills, and between the two on the leaderboard was veteran Ben Hogan and a young Jack Nicklaus. The lead changed hands all day, before Palmer and Hogan stood alone. Palmer made par on the final two holes to shoot 65 and win.

1978, Gary Player, Masters

The little South African was seven shots behind the leader at the start of play on the Sunday, but Player birdied seven of the final nine holes to shoot 64 and win by one shot over Tom Watson, Rod Funseth and Hubert Green. It was the last of his nine major championships.

1986, Jack Nicklaus, Masters

Trailing by five at the turn, the 46 year old seemed irrelevant to the battle behind him involving Seve Ballesteros, Greg Norman and Tom Kite. But he fired a 30 on the back nine to win by a shot and secure his 18th major. Said Nicklaus: “Nobody expected me to be in contention at that point in my career, particularly even me.”

1999, Paul Lawrie, British Open

Sometimes obscured by the last-hole collapse of Jean van de Velde, who blew a three-stroke lead, was the charge by Lawrie. He began the day 10 shots behind but was back by only three when he signed his scorecard after shooting 67. He defeated Van de Velde and Justin Leonard in a play-off.

1999, United States, Ryder Cup

In the opposite situation to Sunday, it was Europe going into the final day of the “Battle at Brookline” with a 10-6 lead. But the US easily won the first six singles matches and went on to win by 14.5 to 13.5. US player Hal Sutton said: “It was a mighty display of firepower.”

COMPANY PROFILE
Name: Almnssa
Started: August 2020
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Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

UAE currency: the story behind the money in your pockets
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Their favourite city: Dubai

Their favourite food: Khaleeji

Their favourite past-time : walking on the beach

Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll

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'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”