Watson philosophical after another miss



Shane Watson described his unusual run-out on the first day of the Boxing Day Test against Pakistan as "just one of those things". The Queenslander fell just short of a maiden Test century for the third match in a row but helped put Australia in a dominant position at 305 for three heading into the second day tomorrow. Following knocks of 96 and 89 against the West Indies, Watson was in the box seat for an elusive ton after smashing the inexperienced Pakistan attack to all parts of the MCG. Unlike in Adelaide, however, when he was bowled by spinner Sulieman Benn after attempting a full-blooded pull shot, or in Perth, where he copped a ripper of a delivery from Kemar Roach, the manner of his dismissal in Melbourne was simply bemusing.

On 93, Watson was involved in a horrible mix-up with fellow opener Simon Katich that saw both batsmen finish up at the same end. The left-hander had set off for a run before turning his back on Watson, who continued through to the striker's end. With both players stranded at the one end, the third umpire was needed to determine who got back to the crease first and, after a minute of deliberation, the decision went against Watson. The pair had put on 182 runs for the first wicket, their third lengthy partnership of the summer. "It's just one of those things, there wasn't too much communication that went on there unfortunately," Watson said of his dismissal.

"I definitely knew it must have been me that was out because we both ended up the same spot and he came from that end. It wasn't destined to be today. It took me a little while to calm down but you see the big picture, I'd definitely take 93 at the start of the day in my first Boxing Day Test." Watson brought up his sixth half-century in 11 innings as an opener since taking over the position from the specialist Phillip Hughes during the Ashes. "I feel very confident now opening the batting for Australia and feel I can set up a good platform for the team. "One day hopefully it (a century) will come. If I keep batting the way that I am I know it's not going to be too far away. So hopefully it comes sooner rather than later." Katich fell shortly after for 98 and captain Ricky Ponting for 57 - taking Australia's total of batsmen who have made half-centuries this summer to 18 without converting any into triple figures.

Watson revealed the team are working on ways to break the run of outs in an attempt to reach the milestone. "It's definitely a mental thing, I've got no doubt about that. It's something we talked about before Perth and sometimes the more you talk about it, the more it comes into your head the closer you get to that milestone," he said. "It's just something that we've got to continue to work through as a group. "In a perfect world, hundreds will be very nice - and I'd be the first one to take one - but it's something we've got to continue to work together so it doesn't come in our mind as much as it probably is at the moment." Meanwhile, Watson has no doubt Ponting will play a significant role in the Test after being passed fit by medical staff. The skipper had been a doubt all week after suffering a blow to the elbow. "I knew he'd be at his best. Obviously he'll be disappointed not to get a hundred here because normally every time he bats here he gets one on a Boxing Day Test," Watson added. * PA Sport Australia v Pakistan, Day Two, 3.30am start, Showsports 2

Australia: S Watson run out (Butt/Farhat) 93 S Katich c Butt b Asif 98 R Ponting c Haq b Asif 57 M Hussey batting 38 N Hauritz batting 5 Extras: (5nb, 8lb, 1b) 14 Total: (90 overs, 3 wickets) 305 Fall of wickets: 1-182 (Watson), 2-233 (Katich), 3-291 (Ponting) Bowling: Mohammad Asif 21-4-69-2 Mohammad Aamer 19-6-52-0 Abdur Rauf 15-2-61-0 Saeed Ajmal 32-3-101-0 Imran Farhat 3-0-13-0

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.

Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
Brief scores:

Manchester City 3

Bernardo Silva 16', Sterling 57', Gundogan 79'

Bournemouth 1

Wilson 44'

Man of the match: Leroy Sane (Manchester City)

Cricket World Cup League Two

Teams

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

Namibia beat Oman by 52 runs

UAE beat Namibia by eight wickets

 

Fixtures

Saturday January 11 - UAE v Oman

Sunday January 12 – Oman v Namibia

COMPANY%20PROFILE
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ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
%3Cp%3EBy%202030%2C%20Abu%20Dhabi%20aims%20to%20achieve%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2039.3%20million%20visitors%2C%3C%2Fstrong%3E%20nearly%2064%25%20up%20from%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20Dh90%20billion%20contribution%20to%20GDP%2C%3C%2Fstrong%3E%20about%2084%25%20more%20than%20Dh49%20billion%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%20178%2C000%20new%20jobs%2C%3C%2Fstrong%3E%20bringing%20the%20total%20to%20about%20366%2C000%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%2052%2C000%20hotel%20rooms%2C%3C%2Fstrong%3E%20up%2053%25%20from%2034%2C000%20in%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%207.2%20million%20international%20visitors%2C%3C%2Fstrong%3E%20almost%2090%25%20higher%20compared%20to%202023's%203.8%20million%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%E2%80%A2%203.9%20international%20overnight%20hotel%20stays%2C%3C%2Fstrong%3E%2022%25%20more%20from%203.2%20nights%20in%202023%3C%2Fp%3E%0A
Company Profile

Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

FINAL SCORES

Fujairah 130 for 8 in 20 overs

(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)

Sharjah 131 for 8 in 19.3 overs

(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)