PRI in Person: Long-term versus short-term debate ‘divisive’

first_imgOther speakers on the panel acknowledged that the debate was a question of difference – that long-term investors rightfully co-exist with investors whose model is short term.However, Sandy Frucher, vice-chairman of Nasdaq, said a long-term view was a better way to gain asset appreciation than a short-term perspective.Thabo Khojane, managing director Africa Client Group at Investec Asset Management in South Africa, said that, for an investment manager, time horizon was primarily a function of the client’s mandate.It comes down to what an investor thinks about risk.He said: “If it is important for clients to have a benchmark against an index or against a peer group, and the way they think about risk is in terms of volatility or tracking error, then the horizon will be slightly shorter, typically a rolling 12-month or three-year horizon.“However, if the client is for an absolute outcome, a benchmark against cash and against inflation, and the way they think about risk is not in terms of volatility or tracking error but in terms of capital cost, then typically the mandate will give you a much longer horizon.”He added: “The reality is that, the longer the horizon, the more time an investment manager has, the easier it is and the more likely it is that he will be able to deploy his skills and meet the requirements of the client.“Clearly, a longer-term horizon makes it easier to make money.” The long-term versus short-term debate, which has occupied financial markets across the world post-crisis, is divisive, responsible investors have been told.Speaking at the recent ‘PRI in Person’ event in Cape Town, South Africa, Erika Karp, founder and chief executive at US-based Cornerstone Capital, said: “The problem is the use of language in a kind of judgemental and in a potentially divisive way. There is nothing inherently wrong with short-term [investing] if the systemic risk is managed reasonably well and there is transparency.“The language of sustainability – whether it is SRI, sustainable investment, the double or triple bottom line, impact investing, values-based investing – they all are good, […] and the opposite is implied to be bad. This is where it gets divisive.“So this needs not to be about an ideology, it needs to be about pragmatism. It doesn’t need to be about values, it needs to be about creating value. So any debate like long-termism or short-termism, […] to some degree, could be a waste of time.”last_img read more

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Update on the latest sports

first_imgKANSAS CITY, Mo. (AP) — The Kansas City Chiefs have agreed with defensive tackle Chris Jones on a four-year, $85 million contract extension that includes $60 million in guarantees. That word comes from a person familiar with the deal.The Chiefs and representatives for Jones have been working on a contract extension ever since last year, when they remained far apart on terms and the Pro Bowl selection skipped the entirety of the offseason program. Jones was back in time for training camp and helped the Chiefs win their first Super Bowl in 50 years in February.Elsewhere in the NFL:— A person familiar with the negotiations tells The Associated Press that the Cleveland Browns are closing in on a massive contract extension with star defensive end Myles Garrett. He was the No. 1 overall pick in 2017 and is one of the NFL’s premiere edge rushers. Garrett and the Browns could have the deal completed in the next day or so. NFL Network reported the extension could be for five years and $125 million. NHL-ISLANDERS-SOROKIN Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-MLB-BLUE JAYSCanadian health official suggests longer Blue Jays homestandTORONTO (AP) — A top Canadian government health official says a longer stretch of home games might help the Blue Jays to get approval to play in Toronto amid the pandemic. — Jake Burger is going to play in a local league this summer in his hometown of St. Louis after the Chicago White Sox approved the plan for their first-round pick in the 2017 amateur draft. It’s a chance for the third baseman to get back on the field after he tore his left Achilles tendon twice, sidelining him for each of the previous two seasons. — Fans wanting to see their faces at Dodger Stadium this season can buy cutouts. The team says net proceeds from the sale will benefit the Los Angeles Dodgers Foundation. Cutouts in the Dugout Club or new Pavilion Home Run Seats cost $299. Field and loge cutout locations cost $149. The cutouts are 18 inches wide and 30 inches high. The images are subject to team approval. VIRUS OUTBREAK-NBAKings’ Barnes isn’t at NBA restart, says he has coronavirusLAKE BUENA VISTA, Fla. (AP) — Harrison Barnes of the Sacramento Kings became the latest NBA player to reveal that he has coronavirus, making the announcement Tuesday and saying he has hopes to join his team at the league’s restart later this summer. Barnes is the only player who has started all 64 of the Kings’ games this season. To extend that streak, he’ll need to be cleared and arrive at Walt Disney World before Sacramento’s season resumes with the first of its eight seeding games on July 31 against San Antonio.VIRUS OUTBREAK-SOUTHEASTERN CONFERENCESoutheastern Conference postpones start of some sportsUNDATED (AP) — The Southeastern Conference is postponing the start of volleyball, soccer and cross country competition through at least the end of August because of COVID-19. The league says that provides more time to prepare for a safe return to competition on an adjusted timeline. The decision includes all exhibition and non-conference games. Deputy Chief Public Health Officer Dr. Howard Njoo says back and forth travel from the U.S. where cases are surging is a major issue that could prevent the government from approving MLB to play in Canada. MLB requires an exemption to a requirement that anyone entering Canada for nonessential reasons must self-isolate for 14 days. The U.S.-Canada border remains closed to nonessential travel. The Blue Jays’ home opener is scheduled for July 29 against Washington.In other MLB news:— About 10 Major League Baseball umpires have opted out this season, choosing not to work games in the shortened schedule because of concerns over the coronavirus. There are 76 full-time MLB umpires and more than 20 of them are age 55 or over. Joe West and Gerry Davis are the oldest umps at 67. Umpires who are deemed at risk — either for their age, health situation or other issues — and opt out will continue to get paid. Umps get their salaries over 12 months and have already been paid through April. July 14, 2020 Associated Press — Several people familiar with the conversations tell The Associated Press that the baseball players’ association has discussed hiring noted sports lawyer Jeffrey Kessler to litigate a contemplated grievance against clubs. The grievance would accuse Commissioner Rob Manfred and management of failing to act in good faith to complete the longest season economically feasible. A grievance has not yet been filed and an agreement with Kessler has not been finalized.— Minnesota Twins center fielder Byron Buxton has a sprained left foot but no structural damage. Further testing revealed the diagnosis Tuesday, a day after his injury in an intrasquad game at Target Field. The Twins said Buxton would be evaluated on a day-to-day basis. He got hurt tracking a fly ball and lost his balance. —Yankees pitcher Masahiro Tanaka is unsure whether he will be able to take his first turn through the rotation as he recovers from a line drive off his head. Tanaka was hit on the right side near the temple by Giancarlo Stanton’s shot during batting practice on July 4. While the 31-year-old right-hander says he has no concussion symptoms, he has not thrown off a mound since. —A person with knowledge of the deal says the Atlanta Braves have agreed to a one-year deal with free agent outfielder Yasiel Puig (yah-SEEL’ pweeg). The agreement helps the NL East champions address a depth problem in their outfield. Nick Markakis recently opted out over concerns about the coronavirus. The 29-year-old Puig hit a combined .267 with 24 homers and 84 RBIs for Cincinnati and Cleveland in 2019. He also stole 19 bases.— Anthony Rizzo’s back trouble flared up again after he took batting practice over the weekend, and the Chicago Cubs are sending the slugger for tests. Rizzo has been dealing with back tightness during summer camp, a recurring problem throughout his career. The first baseman took live BP on Sunday before the issue surfaced again. Manager David Ross says Rizzo remains day to day. The USTA says the sort of COVID-19 testing and universal housing planned for the U.S. Open “would logistically and financially be incredibly difficult to create” at these national events. The team announced Tuesday that it plans to play in front of about 20% of Gillette Stadium’s capacity, if approved by state and local officials. The stadium’s capacity is just under 66,000. The Patriots also informed season ticket holders that if fans are allowed at the stadium, they will be asked to adhere to physical distancing of at least six feet. Tickets will be arranged in blocks of 10 seats or fewer, with the first eight rows of the stadium not in use. Face coverings will also be required at all times.Patriots season ticket holders will have the first opportunity to purchase individual game tickets. Any remaining ticket inventory will go on sale to the general public. NFL-CHIEFS-JONESChiefs have four-year extension with Jones Update on the latest sports VIRUS OUTBREAK-USTAUSTA cancels amateur eventsUNDATED (AP) — The U.S. Tennis Association has canceled several amateur events scheduled in August because of the coronavirus pandemic but is still planning to hold the U.S. Open starting Aug. 31.USTA National Championships in certain junior age groups for singles and doubles are being scrapped.Men’s and women’s USTA National Grass Court Championships in Newport, Rhode Island, are also among the tournaments eliminated. — Blackhawks defenseman Calvin de Haan missed practice because of a family emergency. Coach Jeremy Colliton said he isn’t sure when de Haan will be back. The 29-year-old de Haan is coming back from right shoulder surgery in December. He was acquired in a June 2019 trade with Carolina. NHL-TED LINDSAY AWARD FINALISTSDraisaitl, MacKinnon among finalistsNEW YORK (AP) — NHL leading scorer Leon Draisaitl of the Oilers, Avalanche center Nathan MacKinnon and Rangers winger Artemi Panarin are the finalists for the Ted Lindsay Award. The trophy goes to the league’s most outstanding player as voted by fellow players. None of them have won the award before. Draisaitl finished first in points with 110 in 71 games before the season was halted because of the COVID-19 pandemic. MacKinnon helped injury-ravaged Colorado clinch a top four seed in the Western Conference. And Panarin had 95 points in his first season with New York. Islanders sign Sorokin for next seasonUNDATED (AP) — The New York Islanders have signed goaltender of the future Ilya Sorokin to a contract for next season. The $2 million deal includes $1 million in salary and a $1 million bonus. A day earlier, the team signed Sorokin to an entry-level deal for the remainder of this season even though he’s not eligible to play. The 24-year-old Sorokin is considered one of the top prospects at any position not current in the NHL. In NHL news:— Right wing Troy Terry has agreed to a three-year, $4.35 million contract extension through the 2022-23 season with the Anaheim Ducks. Terry has eight goals and 20 assists in 81 career games with the Ducks. They drafted him in the fifth round in 2015. He scored 15 points in 47 games this season.—The Minnesota Wild similarly signed fellow Russian Kirill Kaprizov to a two-year contract for this season and next. Kaprizov like Sorokin can’t compete in the resumption of the season. Each school will be responsible for any rescheduling of non-conference contests impacted by the postponement.The league hasn’t made any announcement on the football season. The Big Ten and Pac-12 have opted to only play conference games.VIRUS OUTBREAK-NFL-PATRIOTSPatriots hope to play before some fansFOXBOROUGH, Mass. (AP) — The New England Patriots have joined a growing list of NFL teams who hope to play home games this season in front of a significantly reduced number of fans to help reduce the spread of COVID-19.last_img read more

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Bundesliga on StarTimes: A new coach leads Bayern into Klassiker

first_imgCharles Dickens’ famous quote “It was the best of times, it was the worst of times” is eerily apt to describe Bayern Munich’s situation ahead of this weekend’s Bundesliga Klassiker.“The best of times” because the match in the Allianz Arena offers the defending champions the best possible opportunity to bounce back from the humiliating 5-1 defeat against Eintracht Frankfurt on the weekend, with a victory against Borussia Dortmund.“The worst of times” because a day after the defeat in Frankfurt coach Niko Kovac was fired. His assistant Hansi Flick was given the job on an interim basis.Hansi FlickThe former Bayern midfielder’s task will not have been made any easier as three centre-backs have been ruled out. Jerome Boateng was sent off against Frankfurt and will miss at least one Bundesliga match, while Germany international Niklas Süle has been ruled out for most of the season after tearing his cruciate ligament. Bayern’s most expensive ever signing, Lucas Hernandez, is also sidelined for some weeks.Borussia Dortmund, meanwhile, go into the match buoyed by a 3-0 league victory against the only previously unbeaten team in the Bundesliga, Wolfsburg.That victory occurred just a few days after Dortmund came from behind to beat the log leaders Borussia Mönchengladbach 2-1 in a cup match.Against Wolfsburg, Lucien Favre welcomed back former Bayern defender Matts Hummels, who had missed some earlier matches with a stomach bug. Hummels, who earlier in the year was told that he no longer played a part in Germany coach Joachim Löw’s plans, could be back in the mix for an international recall if he continues his outstanding form.Another in-form player for Dortmund has been Julian Brandt, who scored both goals against Mönchengladbach. The midfielder who joined the black and yellows during summer from Bayer Leverkusen said that the victory against Wolfsburg was just what the club needed ahead of the big match.“That was a very, very strong sign,” the 23-year-old said.Favre will probably also be able to draw on Paco Alcácer for the match against Bayern, but there are some doubt about captain Marco Reus, who had to be substituted against Wolfsburg.A victory for the home side would see Bayern move ahead of Dortmund, who currently are second in the Bundesliga three points behind Mönchengladbach, while Bayern are fourth, a further point behind. History clearly favours Bayern, who have won the last five Klassiker at home, scoring an astonishing 22 goals and conceding just three.Football fans throughout Africa will be able to watch Der Klassiker live and exclusive on the StarTimes football channels.—last_img read more

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Dodgers in no mood to talk about playoffs yet

first_imgMention the postseason or the division title and you get blank stares or annoyed raised eyebrows.“Not ready to go there,” Dodgers manager Don Mattingly said when asked about his 25-man playoff roster.None of them are.We’re not talking classified information here.We’re talking full-blown coverup. The playoffs might as well be Area 51 as far as the Dodgers are concerned.Just some silly, far-fetched, media-driven conspiracy theory.And when you can’t prove what isn’t yet certified, good luck getting a bunch of superstitious ballplayers to help you get to the bottom of it.They’re not going there until they can officially go there.So don’t bother asking if the Dodgers would rather clinch the division at home or on the road.They aren’t talking about it.And if you’re wondering what factors will play most prominently in the playoff roster, good luck with that.Is a four-man pitching rotation preferable to a five-man?Is Chris Capuano in danger of pitching himself out of the postseason?Does Scott Van Slyke have enough late-inning juice in his bat to warrant a spot on the playoff bench?Has Brian Wilson earned a role in the bullpen?What about Brandon League?Is Mattingly manipulating his lineup each night with the playoffs in mind, giving rest to key veterans and important at-bats to bench players who need to remain in a groove?Important questions, every single one of them.Just don’t expect any answers.Because when it comes to the postseason, everything is off limits.The Dodgers won’t own it, mention it, ponder it or comment on it.Let alone even recognize it.It would be annoying.That is, if it wasn’t so hilarious.Imagine a bunch of grown men being so spooked out about jinxing something they’d rather pretend like it doesn’t even exist?Call it a baseball thing.With some major peer pressure mixed in.Basically, you don’t want to be the idiot who defies the baseball Gods by talking about playing in October before it’s officially official and angering them into cursing you with an epic collapse.And considering the Giants are in town representing the Dodgers’ greatest fail ever — in 1951 they blew a 13½-game lead over the final 44 games and ultimately surrendered the National League pennant to their bitter rivals — the Dodgers weren’t about to tempt fate with premature playoff talk.Better to pretend it’s still mid July and the possibility of the postseason is so far down the road that even MapQuest can’t figure out directions.“Superstitious,” Mattingly admitted.We all know it’s imminent — including the Dodgers, who need only to avoid some calamity to make it official.The division title is a fait accompli, the only thing left now officially punching their ticket to the postseason.That can occur as early as Sunday against the Giants right here at home.If not then, it will certainly happen during their upcoming 10-game road trip through Arizona, San Diego and San Francisco.It’s only a matter of time now.But bring it up to the Dodgers and you might as well be talking to the big banks about the looming student loan debt crisis.They don’t want to hear it.You want to know how to make a big white elephant disappear?Just mention the playoffs to Mattingly or his players.“I’m not ready to discuss that,” Mattingly said.Meanwhile, out on the field his team continued its imminent march to the division title.But you didn’t hear that from the Dodgers.vincent.bonsignore@dailynews.com @DailyNewsVinny on Twitter You know the playoffs are approaching for the Dodgers when no one on the Dodgers wants to talk about the playoffs approaching.Never mind they took the field against the San Francisco Giants with a magic number of six to claim their first National League West title in four years — with just 16 games remaining — or the fading Arizona Diamondbacks pose no legitimate threat of chasing them down.The Dodgers are on their way to the playoffs, and everyone in the clubhouse knows it.It’s just no one will acknowledge it, let alone discuss it.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

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Old Wellington scoreboards to be auctioned off on Friday

first_imgby Tracy McCue, Sumner Newscow — Do you want a piece of history? How about an old Wellington scoreboard that tallied the scores of every high school and middle school basketball game for more than 50 years?The two old scoreboards from the old high school via today’s middle school were replaced recently and the After School Program will be auctioning the historical scoreboards to the highest bidders as a fundraiser. The two scoreboards will be auctioned off separately. The first scoreboard will be auctioned off this Friday during Wellington Homecoming festivities in the game with Mulvane. The second scoreboard will be auctioned off at the home Clearwater basketball game on Feb. 15. The auction will be held between the boys and girls basketball games around 7:30 p.m.The dimensions for the scoreboard are 72 inches by 78 inches and weighs about 125 pounds. Each is being sold “as-is.” The scoreboard may or may not run so take that into account. There are no keypads or control panels with the scoreboards. Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comment (1) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +3 Vote up Vote down Billy · 393 weeks ago “The $250 raised will be used to fund half of one away game.” Report Reply 0 replies · active 393 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more

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