Abdullah Al Marri termed as “special” his first Grand Prix win at home on Saturday.
Al Marri steered Sama Dubai to victory on the final day of the CSI 4-star Al Shira’aa Horse Show at Al Forsan International Sports Resorts in Abu Dhabi. In the process, the Emirati edged out defending champion Henrik von Eckermann of Sweden for the prize worth €62,000 (Dh261,145).
“For two years I have been waiting for this, because in the first version of the Al Shira’aa International Horse Show I made the fastest time but put the last fence down,” Al Marri said. “I can’t thank the team behind me enough.”
He was pleased with Sama Dubai's performance especially because the 13 year old mare had only just recovered from an injury.
“This is an incredible mare and she has been with me for nine years," Al Marri said. "She had some bad luck in the summer with an injury, and for a while I thought she may never compete again. But today, thanks to the amazing support of the team, she won a Grand Prix.”
Al Marri, 36, who rides for Al Shira’aa, has competed at the highest level. He won a bronze medal at the 2006 Asian Games, and went to World Cups and World Equestrian Games. He has also claimed Grand Prix classes abroad, although Saturday's win was his first in the UAE.
He was one of only nine riders to clear the 160-centimetre first round, and he and his mare were the first to go into the jump off.
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They clocked 33.07 seconds in a clear round, setting the bar for the rest of the field. The three riders to follow were unable to stay clear: Saudi Arabia’s Ramzy Al Duhami got four faults at the last fence in 33.32sec; Luis Sabino Goncalves of Portugal accumulated eight faults in a time of 35.18sec; and Ahmed Saber Hamcho from Syria received four.
Von Eckermann a faultless round on his young horse Peter Pan, but was unable to lower Al Marri’s mark. He clocked 33.35sec to finish second. Al Duhami claimed third place.
The preceding class - the CSI 4-star Zayed bin Hazza Al Nahyan prize - featured a roll-call of top names and was won by Italian Paolo Paini on Chaccolie, who went around the jump off in 33.81sec.
Goncalves rode his mare Dominka van de Lucashoeve to second place in 34.78sec and Eckermann finished third atop Lorielle, who clocked the fastest time 32.67sec but also accumulated four faults.
“I am very happy to win this show with my horse," Paini said. "She’s a young fighter horse, she is very fast and careful. She takes steps to improve and be better.
"I competed in Al Ain two years back and it was a great experience, but Al Shira’aa is a different feeling and it’s by far the best.”
The first class of the day was the Abu Dhabi Sports Council Classic Stakes, which was won by Khalid Abdulrahman Al Mobty of Saudi Arabia aboard Garizona. Trevor Breen was second for Ireland on Escapade.
Bullet Train
Director: David Leitch
Stars: Brad Pitt, Aaron Taylor-Johnson, Brian Tyree Henry, Sandra Bullock
Rating: 3/5
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
THE SWIMMERS
Director: Sally El-Hosaini
Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman
Rating: 4/5
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.
Kill Bill Volume 1
Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
Blue Beetle
Director: Angel Manuel Soto
Stars: Xolo Mariduena, Adriana Barraza, Damian Alcazar, Raoul Max Trujillo, Susan Sarandon, George Lopez
Rating: 4/5
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
US PGA Championship in numbers
1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.
2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.
3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.
4 Louis Oosthuizen has now finished second in all four of the game's major championships.
5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.
6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.
7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.
8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.
9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.
10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.
11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.
12 Paul Casey was a combined 12 under par for his first round in this year's majors.
13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.
14 The world ranking of Justin Thomas before his victory.
15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.
16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.
17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.
18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5
THURSDAY'S FIXTURES
4pm Maratha Arabians v Northern Warriors
6.15pm Deccan Gladiators v Pune Devils
8.30pm Delhi Bulls v Bangla Tigers