Republican vice presidential candidate Alaska Governor Sarah Palin speaks at a campaign rally at Dena’INA Civic & Convention Center in Anorchage, Alaska on September 13, 2008.  AFP PHOTO Robyn BECK *** Local Caption ***  287812-01-08.jpg
Republican vice presidential candidate Alaska Governor Sarah Palin speaks at a campaign rally at Dena'INA Civic & Convention Center in Anorchage, Alaska on September 13, 2008. AFP PHOTO Robyn BECK


US polls reveal everything but winner



WASHINGTON // If you want to know what is happening in the US presidential race, read the polls: John McCain is up by 10. He is up by 5. He is down by 1. The race is tied. And that is just in the past several days. Such is the perplexing world of pre-election public opinion surveys, offered up by news organisations from CNN to USA Today almost as often as Barack Obama and now his rival, Mr McCain, invoke the word "change". There are polls on favourability, who can handle the economy or Iraq better, who is more trustworthy and, of course, the old standard: which candidate is ahead.

But all of them come with a caveat, or should: beware. "You can pick any two polls you want, or any five polls you want, and tell any story you want of what is going on in this election," said Mark Mellman, a Democratic pollster in Washington. Except, perhaps, the story of what will actually happen on Election Day. Those who follow public opinion research say this year could be the trickiest yet for pollsters to get it right. Already there have been some noticeable misses; pollsters across the board predicted victory for Mr Obama in the New Hampshire primary, which Hillary Clinton won.

This year's presidential election features a few firsts for which pollsters have no model for predicting voter behaviour: Mr Obama is the first black major-party nominee and Sarah Palin, the Alaska governor, is the first female No 2 on a Republican ticket. Along with how race and gender might play, also at issue is how to accurately forecast which voters will turn out. Young, first-time voters - who historically have not shown up in large numbers but did so during the primaries - and African-Americans could change the outcome of the race.

Even with its rigorous sampling methods and weighting models, polling is not merely a science, leaving plenty of room for error, especially in a year with so many complicating factors. Response rates to polls, normally done by random dialling of home telephone numbers, are down in general, which could skew results; even the fact that many people now have only mobile service has changed the game. "There's a lot of art to it," said Richard A Kulka, president of the American Association for Public Opinion Research. Of pollsters' work, he added: "There are certainly reasons to believe that life is more complicated, and will be, in the current election. And of course we won't know that until the results are in."

Pollsters invariably say they are not prognosticators; rather, they provide a "snapshot" of the way things stand at a given point in time. Still, everyone wants to know: who will win? Mr Kulka's group is studying how and why pollsters were so far off in New Hampshire; hypotheses have ranged from underestimating the number of undecided voters, to a latent racism in an overwhelmingly white electorate, to a last-minute swing toward Mrs Clinton after she turned tearful in a candid moment on the campaign trail.

David W Moore spent 13 years as a top editor and executive at the Gallup Organization, one of the most respected names in US polling. His time there led him to this conclusion: pollsters do not just capture public opinion, at times they actually create it. In his book The Opinion Makers: An Insider Exposes the Truth Behind the Polls, he argues that polls are not a very accurate reflection of what the public really thinks.

"We're more interested in creating a public opinion that is plausible and that is useful for enhancing news stories," said Mr Moore, a senior fellow at the University of New Hampshire's Carsey Institute who writes a blog called "Sceptical Pollster". Mr Moore cites as an example what he calls the "myth" of widespread public support for the 2003 invasion of Iraq. Polling before the invasion generally showed US residents backed it by a margin of 2 to 1. But, according to Mr Moore, that was in large part because the question was often framed in language that referred to the removal of Saddam Hussein. In an experimental follow-up, using different questions, Mr Moore found that solid support for the invasion was closer to 30 per cent, which he suggests could have had a profound effect on public policy.

Mr Moore said pollsters often ask questions of a public not engaged enough in policy issues to answer them, and pressure people to choose a particular candidate - at least for the survey's purposes - even when they are unsure who they will ultimately support. And two different pollsters can poll on the same topic and essentially get opposite results. "You know you can manipulate results of opinion polls if you ask the question in a different way," he said. "You can't create anything you want, but there's a wide latitude to the responses you can get."

There is little doubt the contest between Mr Obama and Mr McCain has tightened in the past month. But the post-convention bounce the Republican enjoyed in the polls has been generally treated with some scepticism, as most candidates tend to get one that, over time, fades away. George F Bishop, a University of Cincinnati political scientist and author of The Illusion of Public Opinion: Fact and Artefact in Public Opinion Polls, says that, historically, pollsters have been fairly accurate, at least if you judge them by their final polls before election day (pollsters are treated much like weathermen: when they get the forecast right, they get none of the credit, and when they get it wrong, they receive all of the blame).

Still, Mr Bishop says not to pay too much attention to any single poll. Election Day is still worlds away. "Regard it as just a lot of noise, a lot of volatile noise," he said. "Don't take it seriously - yet." eniedowski@thenational.ae

Ramez Gab Min El Akher

Creator: Ramez Galal

Starring: Ramez Galal

Streaming on: MBC Shahid

Rating: 2.5/5

Pearls on a Branch: Oral Tales
​​​​​​​Najlaa Khoury, Archipelago Books

Key findings
  • Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
  • Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
  • People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
  • Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
  • But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.

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.”

Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

UAE athletes heading to Paris 2024

Equestrian

Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).

Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming

Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics

Maryam Mohammed Al Farsi (women's 100 metres).

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

MATCH INFO

Euro 2020 qualifier

Croatia v Hungary, Thursday, 10.45pm, UAE

TV: Match on BeIN Sports


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