Heroes Circle!

first_imgIt’s quarter-final day in the ISSA-FLOW Super Cup. The last eight are in action, five from the ISSA-FLOW Manning Cup and another three from the ISSA-FLOW daCosta Cup.The main battles will be at Sabina Park. St George’s College, located just a stone’s throw from the venue, should have massive support when they line up against Clarendon-based daCosta Cup team Glenmuir High at 4 p.m. Two hours later, Wolmer’s Boys will face rural kingpins Clarendon College at the same venue.Over at the National Stadium, high-riding St Elizabeth Technical (STETHS) will oppose surprise team St Jago at 4 p.m. before Jamaica College square off against Excelsior High in an all-Manning Cup affair at 6 p.m.Wolmer’s coach, Vassell Reynolds, who played in the rural competition himself, says his ‘town school’ will not take their ‘rural opponents’ for granted.”I expect the rural schools to push the urban-area schools all the way, but we (Wolmer’s) will win,” Reynolds warned.Full sweep in sight”We are aiming for three finals, and will not let Clarendon College spoil that,” he noted of his alma mater. In a preseason fixture, Wolmer’s edged Clarendon College 1-0.Meanwhile, Clarendon College will be looking to rebound quickly from a quarter-final daCosta Cup defeat earlier this week, and will arrive at Sabina Park with victory in mind.”As usual, we are confident and are looking forward to a good game. I know Wolmer’s are a very impressive team, but we also have what it takes to triumph and to move on,” Clarendon College’s coach, Paul ‘Tegat’ Davis, told The Gleaner.”It is a long season, four trophies are on offer, and we are still in the hunt for all of them, so it means we are on track.. Wolmer’s are in front of us and we need a victory; that is what we are focusing on right now,” the former Reggae Boy stressed.Last year, Manning Cup teams filled three of four semi-final spots and Clarendon, STETHS and Glenmuir will be looking to turn the tables and stake their claim for the FLOW Super Cup and $1 million prize.MORE ON FLOW SUPER CUP B4 and B5.last_img read more

Numbers don’t tell whole story in investing

first_imgNEW YORK – In investing, like sports, the numbers can be compelling but don’t always tell the whole story. Athletes and stock pickers alike can hit cold streaks or lose their rhythm when conditions change, so a solid long-term record is what really burnishes a reputation. Rookie funds are at something of a disadvantage, knowing that investors like to see a history of performance, so many of these funds will calculate what their results would have been had they been around longer. But while the numbers that come from so-called backtesting can be helpful, investors should remember there is a difference between a scrimmage and a regular game. “There’s no reason you can’t test for liquidity and trading costs and commissions. But it takes more effort,” Kinnel said. “You have to make it realistic. And that involves realistic costs.” It’s not that funds are likely trying to use misleading data, analysts say. It can simply be difficult to account for all the variables that could have affected how a fund performed. Indeed, if a fund isn’t following an index and is instead run using a strategy it can be hard to pinpoint what move fund managers might have made. Fund companies know that investors rely heavily on past performance – often too much so. But not all fund managers believe in using backtesting to give an indication of how a fund would likely have done. “It can be confusing to the average investor,” said Gerald Sullivan, portfolio manager of the Industry Leaders Fund, of backtested results. He said he isn’t comfortable with them. “It’s very easy to predict what will have done well in the past.”160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREPettersson scores another winner, Canucks beat Kings“It isn’t the same thing as real results,” said Russel Kinnel, a mutual-fund analyst at investment-research provider Morningstar Inc. “I think you certainly have to keep it in mind when it is backtested,” he said of investors considering young funds. And even if everyone agreed backtested figures carried as much weight as a log of a fund’s actual performance, investors would be wise to remember the boilerplate statement that’s as much a part of mutual-fund ads as tags on new mattresses or FBI warnings on movies: Past performance doesn’t guarantee future results. Backtesting is often used by funds that mirror an index. If a fund follows an index, the thinking goes, it’s possible to go back and plot how the fund would have traded by looking at how the index did. But in some cases, even tracing an index back through time can present problems. Kinnel has concerns about backtesting with funds that invest in small-cap stocks, where limited supply and demand can make it harder to buy and sell. Some poorly constructed models might even fail to add in trading costs that over the long term would depress returns. last_img read more