Family Money: Equating Risk & Return from Equities (Part 1)

By Leslie Wright

Equities are simply stocks & shares in commercial ventures. You are, in effect, a part owner of that business, although not necessarily part of the management team. The management team is, however, responsible to you as a shareholder for the goings on and profitability of that corporation.

Two ways to make money

There are two ways of making money as a shareholder. First, you expect to receive a dividend on your shareholding - a financial “thank you” for investing your hard-earned capital into the company, which money is used by the firm to expand its operations, and hopefully make extra profits.

This dividend is declared by the firm’s Board of Directors, either once a year at the Annual General Meeting, or in some cases twice a year. The actual amount you receive depends of course on how many shares you are holding at the time.

The second way to make money is by trading shares on the open market, buying low and selling high. This is potentially far more profitable, but inherently more risky. It is, ultimately, a calculated gamble. Get it right, and you make a bundle. Get it wrong, and you could lose your shirt.

Like a yo-yo

Stock markets are where the shares of publicly listed companies are traded. That is to say, members of the general public can buy or sell slices of these firms at prevailing market prices, through a registered stockbroker.

When news about a company reaches the public, or is published in the media, the price of its shares will quickly rise if the news is good and people want to buy a slice of what they believe could be profitable for them; or if the news is negative the share price could drop just as rapidly.

In financial circles this is called “sentimental volatility” - which is a fancy way of saying that the market price of any particular stock can go up or down like a yo-yo, dependent upon people’s feelings or perceptions about it.

Like with a yo-yo, playing the stock market game can be great fun if you know what you’re doing and had some experience.

Also - just like the yo-yo’s original function when first invented in the Philippines - stock market trading can be used as a weapon of war.

Economic war, that is. For instance, in taking over control of a competitor, or a corporation which has a manufacturing process you want for your own firm, or has cornered a market niche, or countless other reasons.

So news or even rumour can cause quite massive shifts in the perceived value of the shares.

It’s all in the mind

I say “perceived value”, because that is principally what determines such rapid market movements. Fundamental value is the value of the firm’s assets - its land, its buildings, its equipment, its good name, and so on. However, its shares at any one time may be trading at a very different figure from this ‘book’ value.

In financial circles this is often referred to as the ‘price-to-earnings ratio’ (or ‘P/E ratio’ for short), which means how many times more expensive the share price is being traded at than the shares actually earned in profit, represented by the dividends paid out on those shares.

This difference depends on how many people want to acquire shares which might have limited availability, and how much of a premium these people are willing to pay to induce current shareholders to sell those shares.

Of course, potential buyers are only willing to pay such a premium because they believe they stand to make a profit. They have a positive perception of the specific company in question, or the industry it represents, or the economy as a whole.

Conversely, shareholders might believe that their shares are going to go down in price (as the result of some negative perception), and want to offload them before the bad news (real or imagined) hits too hard.

They will then be willing to accept a lower price to encash their shareholding, rather than hold onto shares which they believe will drop further in value.

Someone else, of course, must be willing to buy those shares.

The potential buyer may have discounted the negative perception (or not heard the bad news yet), or is convinced that the share price will go up again sooner or later, for one reason or another.

Inevitably he must believe that the price he is willing to pay for the shares is a good bargain which will enable him to make a nice profit somewhere down the road.

Both parties to the deal are satisfied, and it’s straightforward Keynesian economics: the Law of Supply and Demand.

Macroeconomics

So much for why individual shares move up and down, and so rapidly. How about the larger picture?

As the general economy of a country improves or deteriorates, so will its stock market be affected. That is to say, if the economy is sound, and the country is doing well with its export trade, and there’s lots of money around, companies will tend to expand their operations because they see an increase in demand for their goods and services both at home and abroad.

More people are hired to produce more goods to produce more profits, which is then spent on goods from other firms, who hire more people... and so on. The money goes round and round, and feeds the economic expansion of the country as a whole

Conversely, if money is tight or its exports are not being bought (because they are not competitive in price compared to the same goods obtainable elsewhere, or demand has dropped because of a downturn in the importing country’s economy), then firms will tend to tighten their belts, undertake cost-reduction measures, and contract their business.

This has a cumulative effect on the economy of a country as a whole, causing a general slowdown.

This is reflected in a downturn in the local stock market, as shares in affected companies will be perceived as not earning sufficient profit to pay a reasonable dividend (if any dividend is declared at all!), or share prices of individual firms are not being sought by potential buyers.

Holders of those same shares, who perceive they will not make much if any profit, and may even suffer a loss if the downward trend continues, want to shift their money elsewhere to income-producing investments, or higher interest-earning cash deposits.

Stocks fall as interest rates rise

Usually when there is a liquidity crisis (which is financial jargon for not having enough money in circulation), banks will raise interest rates. There are two principal reasons for this.

First, to discourage borrowers from avidly taking out loans from a limited supply of money; and second, to encourage people to deposit their cash with the banks, rather than invest it elsewhere.

This will help to ease the liquidity crisis (that is, provide more money to lend to potential borrowers - which is of course how banks make their money.)

The effect on stock markets in the meantime is a downward spiral. First, because people are not clamouring to buy shares, but trying to sell them; and second, because money for corporate expansion is too expensive for the firm to borrow, thereby limiting its potential to increase profits.

Potentially, an economy can stagnate until the crisis eases by sufficient liquidity (i.e., cash) coming back into general circulation.

The first sufferers in such crises are almost always the stock markets, as these are more susceptible to short-term market trends, which are quite often based on speculative rumours and perceptions rather than fundamentals of the general economy.

Share prices can suddenly plummet, wiping out considerable proportions of shareholding investors’ worth.

In many cases, however, this is merely a paper loss. That is to say, the share price has dropped from where it was earlier, but may still be above what the shareholder originally paid for those shares. He’s merely lost the extra profit he would have made if he’d sold out “at top”.

Similarly, if the share price has dropped below what the investor paid for them, he hasn’t suffered a real monetary loss until he actually sells them - it’s still only a loss on paper.

If the investor holds onto his shares long enough, the price of those shares may well come back to where they were before the downturn: he still stands to make a good profit - if he’s patient enough for long enough.

The problem is that few people have that patience or belief in the fundamental value of stock markets.

Patience carries its own reward

There have been many stock market “crashes” - the most famous being the Crash of 1929 in the United States. More recently there was the Crash of ’87, and the Global Meltdown of ’94, and of course the Asian Crisis of ’97.

Most of these “crashes” were, however, speculative bubbles which burst when demand had driven the markets too high to be sustained by their fundamental strength, resulting in massive sell-offs by the wiser investors - often large financial institutions and the Big Boys who’d driven the market up to those dizzy heights in the first place.

The markets then “corrected” (as it’s euphemistically termed) so quickly that small investors who had typically jumped onto the speculative bandwagon rather late in the game were caught with their lower garments round their ankles, and their upper garments left in tatters. No wonder they cried!

It is interesting to note that if your father or grandfather had invested $1 into the U.S. stock market in 1929 and held onto the shares, these would be worth somewhere close to $1 million now.

Similarly, investors who panicked at the time of the October ’87 Crash lost out, because within three years the indexes had risen again to above the pre-crash peak. And the markets by that time were far more sound fundamentally than they had been prior to that “crash”.

Similarly, the Asian markets were especially hard hit during the post-bubble period of 1993. Yet within three years, the market indexes had once again risen to above the late-1993 speculative highs.

Wise and patient investors who bought in during the darkest days after these “crashes” (or held onto their holdings) will, if they invested in the “developed” economies of the U.S.A. or Europe, have subsequently done very well indeed.

[To be continued next week.]

Leslie Wright is Managing Director of Westminster Portfolio Services (Thailand) Ltd., a firm of independent financial advisors providing advice to expatriate residents of the Eastern Seaboard on personal financial planning and international investments. If you have any comments or queries on this article, or about other topics concerning investment matters, contact Leslie directly by fax on (038) 232522 or e-mail [email protected]. Further details and back articles can be accessed on his firm’s website on www.westminsterthailand.com.

Editor’s note: Leslie sometimes receives e-mails to which he is unable to respond due to the sender’s automatic return address being incorrect. If you have sent him an e-mail to which you have not received a reply, this may be why. To ensure his prompt response to your enquiry, please include your complete return e-mail address, or a contact phone/fax number.

The Computer Doctor

by Richard Bunch

One question that keeps cropping up in various guises is that of security and privacy on your computers. This is rather a large topic and covers many areas so this week is Part 1, next week with Part 2.

Firewalls and ISP sharing

BlackIce Agent delivers state of-the-art protection for every computer terminal on your network, whether this is installed locally or across a WAN. Network ICE utilizes their patented 7-layer decode technology, instead of simple pattern-matching to detect, identify and block attackers. This method is significantly more accurate for detecting attacks than just matching signature patterns. This BlackICE technology decodes and detects many forms of attacks, including fragmented attacks, NMAP scans and many other malicious attacks without affecting CPU utilization or system throughput. The Agent combines firewall and intrusion detection technologies to deliver protection against attacks. It works in real-time to detect, identify and block hackers, therefore stopping the miscreant before any damage is done. Thoroughly recommended.

WinRoute Pro is probably the ultimate Internet Router - Firewall software. It is virtually effortless to set all of the computers in your network up to share a single Internet connection! Connect through a dial-up line, DSL, ISDN or Cable, leased line or DirectPC. Unlike other proxy servers there are no hassles in setting up client PCs to access the Internet! Using its advanced NAT routing functionality, it becomes easy to integrate it into either LAN or WAN environments whilst maintaining the option of separate Internet access. Hosting servers behind WinRoute is also possible; the Port Mapping technology allows users to decide how they want to divert IP packets passing through any interface operated by WinRoute. With WinRoute users can set packets coming to a specific port to be passed to a specific internal computer. This allows them to run a webserver or mailserver, VPN server or other application securely behind the firewall. WinRoute also provides a good degree of firewall protection through a combination of its NAT architecture and ability to operate on a low level. This allows WinRoute to capture both incoming and outgoing packets, which makes it unbreakable. Anti-spoofing is an add-on to WinRoute’s packet filtering, for further protection of the LAN against attacks where the intruder falsifies source IP addresses. Another nice feature of this software is its mailserver, complete with SMTP/POP3 compatibility, virtually unlimited aliasing opportunities and automatic mail sorting, it is extremely versatile. Users can have one or more email addresses and can effectively work in groups (i.e. sales, support, etc.) and each group can be assigned to more users.

Sygate from Sybergen offers Internet access sharing software. Sygate used to be my favourite, easy to install and configure, and generally trouble free. Whilst this was so, their latest offering that is compatible with Windows 2000, is anything but hassle free! You need to be very patient and have plenty of time to spare.

It does have a built-in firewall, which provides security to the network by using its packet filtering and dynamic tunneling technology. You can control and schedule each computer’s Internet access capabilities. It allows you to block specific sites from view, or define the sites each PC on your network can access. The software supports telephone modems, cable modems, ISDN, xDSL and DirecPC for Internet access. SyGate for Home Office also supports all common local network set-ups including Ethernet and emerging technologies such as HomePNA (for implementing Ethernet over existing phone lines in homes), HomeRF (for implementing wireless devices), USB networks and Ethernet over power lines. It intelligently dials up the ISP whenever a user tries to access the Internet.

WinProxy 3.0 provides everything you need to simultaneously connect all your computers to the Internet with one connection from your existing service provider. It includes inline virus protection, site filtering, advanced firewall, and site caching to make your Internet connection fly. WinProxy 3.0 stops viruses at your server firewall so they never even reach your network! It is a Windows 95/98/NT-based proxy server that supports major protocols and connection types including: TCP/IP, Dial-Up Networking, NAT, DHCP, SOCKS 5, outgoing VPN, modem, cable modem, DSL, ISDN, frame relay, T1/T3, and wireless links. New features include support for caching, an unlimited number of concurrent users, and reverse proxies on dial-up connections. Its New Transparent Proxy Technology combines the simplicity of Network Address Translation with the flexibility and control of a proxy server. This eliminates the need to re-configure applications or install special software on each client computer while preserving the ability to control and actually enhance Internet access for your entire network. And, built-in DNS and DHCP servers eliminate network configuration making installation a breeze for even a novice.

The software protects your entire network against Internet intruders and Net borne viruses. Choose from pre-defined Firewall security settings or customize your own. Its built-in anti-virus protection guards against malicious code in e-mail attachments and Internet downloads, allowing you to stop infected files from entering your network. It is also possible to block access to sites containing objectionable material. Predefined lists are updated regularly and cover sex, hate speech, criminal intent, extreme or drugs; an additional Whitelist option only allows access to the sites you specify. Advanced network-wide HTTP and DNS caching gives every user accelerated access to frequently visited sites.

Send your questions or comments to the Pattaya Mail at 370/7-8 Pattaya Second Road, Pattaya City, 20260 or Fax to 038 427 596 or E-mail to [email protected]. The views and comments expressed within this column are not necessarily those of the writer or Pattaya Mail Publishing.

Richard Bunch is Managing Director of Action Computer Technologies Co., Ltd. Providing professional services which include website design, website promotion (cloaking) turnkey e-commerce solutions, website hosting, domain name registration, computer and peripheral sales service and repairs, networks (LAN & WAN) and IT consulting. Please telephone 038 716 816, e-mail [email protected] or see our website www.act.co.th

Successfully Yours: Dr. Surasak Mumanachit

by Mirin MacCarthy

What kind of man becomes a Plastic Surgeon - such an exacting and long hard road in the training? Well, someone just like the very calm and assured Dr. Surasak Mumanachit.

Dr. Surasak is very much a local, having been born in Sri Racha. He was not born into a medical family, his parents being business people there. He is the eldest of four children, and he went to Assumption College in Sri Racha, then finished his schooling in Bangkok.

Around this time, he noted that his parents were not people who enjoyed the best of health, so this started him on his medical course. “When my parents were sick, I could take care of them.”

He enrolled at Bangkok’s famous Mahidol University, doing his two years of pure science there and then finishing the four years clinical training at the Siriraj Hospital, which is attached to Mahidol.

His next three years were as a generalist in a private hospital in Bangkok, but he found that he was being attracted more towards surgery as his niche in medicine. So it was back to the books for another three years for his training in general surgery.

With his credentials in surgery now in his pocket, it was time to return “home” so he took a post as the General Surgeon at the Somdej Hospital in Sri Racha where he stayed for another three years.

One of the most satisfying aspects of a career in medicine is the availability of choice - there being just so many branches of study. For a general surgeon one next step, if they are good enough, is to move towards Plastic surgery.

Realising that this was his next career move, Dr. Surasak went back into training again for another two years, to receive his certification from the Thai Board of Plastic Surgery. Dr. Surasak took time to stress the difference between “Plastic” surgery and cosmetic (aesthetic) surgery. “Aesthetic surgery is just a part of Plastic surgery. There are actually eleven different sub-specialties, and the Plastic surgeon has done training in them all, including reconstructive surgery.”

So it was back to Sri Racha where he now worked as a specialist Plastic surgeon. But fate was to step in after some time there - his wife, who works for the Tourist Authority of Thailand, was offered a position representing the TAT in Los Angeles. This was too much to pass up, and so they moved to America, his wife to the TAT office and Dr. Surasak to the famous UCLA where he had the post of the International Cranio-facial Fellow. He stayed in America for three years at UCLA and was very pleased to be able to study there. “I could become proficient at operating on both Asian and Caucasian patients.” Where the most common Cosmetic operation in Thailand is the Augmentation Rhinoplasty (elevation of the nose), the most common in America is Liposuction. There is also a difference in healing between the two groups, with the chances of scarring being much lower in the Western races.

However, after the tour of duty was over for his wife, they decided to come home - again to the Eastern Seaboard, where Dr. Surasak has taken up residence at the Bangkok-Pattaya Hospital as their specialist Plastic surgeon.

When he is not making people beautiful or correcting abnormalities, in common with so many doctors, he likes to play a little golf. In his early days he played, but has just recently taken it up again. When I asked about his handicap he replied, “The maximum!” Other than that he lists sleeping and watching movies as other spare time relaxations. He admits to watching the stock market too, but when I asked if he were a player he said, No. A loser!”

Success for Dr. Surasak involves his work and his family. “I like to see good results that make my patients happy. With congenital deformities, to give back some quality of life to the person, it is so rewarding. Of course, one needs just enough money, but it is not so important. The health of my wife and 16 year old son, and to give him a good education. I must also take care of my parents.”

His advice to youngsters who may think that they would like to be a plastic surgeon is very sobering. “It is not easy. Training is a very difficult time and you have to become very proficient at micro-surgery and be prepared for the fact that you will have to operate at any time - even being wakened in the middle of the night. It is easier to be a Dermatologist.”

Dr. Surasak is excited by his new position here, with the potential of the hospital and the opportunity for him to use his expertise on both local and tourist patients. The queue forms behind me, girls!

by Mirin MacCarthy

by John D. Blyth

Signal Safety

Said the late Gerard Fiennes, a great railway operator of the 20th Century (and my boss for a time), “We have trains running at almost 100mph., and unable to stop in much less than 1000 yards, so it is evident that railway is not an inherently safe means of travel. It is safe because we make it so!”

Safety and signalling go hand in hand, and always a close study is made of accident causes to see what can be improved. Sad that so many who like railways do not take interest in even the basics of signalling, “boring” they will say! It is not: it is fascinating and can become a life study.

Very early trains were signalled by Railway Policemen on the line-side, with red and green flags. Letting each train go after a certain time had elapsed since the previous one. A task not too serious when trains were few and slow.

Typical British Railways Semaphore Signals (Left) ‘Distant’ Signal in ‘ON’ (‘Caution’) position. Signal arm horizontal. Yellow arm with ‘fish-tail’ end and matching black stripe. At night, a yellow light is shown for ‘Caution’, and a green light for ‘Line Clear’. Back of arm is white with black stripe. (Right) ‘Stop’ Signal in ‘OFF’ (‘Line Clear’) position. Signal arm raised to about 45o above horizontal. Red arm with square end and matching white stripe. At night, a red light is shown for ‘Stop’, and a green light for ‘Line Clear’. Back of arm is white with black stripe.

Soon it was seen possible for him to operate simple fixed signals for more than one line from one point by means of wires and rodding. Not long afterwards, the Great Western Railway began the use of the single-needle telegraph instrument to pass messages between stations; the next step by the Company’s Signal Engineer, Spagnoletti, was to adopt it to send information about the movements of trains. Soon the Policemen were in small huts or ‘boxes’ and became signalmen - the term ‘Bobbies’ is still used sometimes, recalling the very early days.

Safety Precautions

Two important Acts were passed in Parliament in the 1880s; one that called for all passenger trains to have a continuous brake operative on all carriages and which would stop both portions were the train to become divided; the other called for passenger lines being on the ‘Block System’, which ensured that trains were prevented from catching one another up, and possibly colliding.

The Block System

This provided for a signal box to be provided and manned at stations, junctions, and other key points, splitting the railway up into ‘Sections’ and preventing each section from having more than one train in it at a time. I will come to a more precise definition in a moment. Each box is in communication with those on either side, by means of signal-stroke bells for passing messages about train movements, ‘Block Instruments’ very like a single-needle telegraph instrument, on which the men could indicate the whereabouts of each train as it passed through their area; this had ‘Normal’ position when no train was about, a ‘Line Clear’ position when the movement of a train between two boxes and had been agreed; and one for ‘Train on line’, when the train was actually between two boxes.

Types of Semaphore Signals

British Signalling was blessed by its simplicity, and only two main types of signal were normally used on running lines - I have sketched them for you. The ‘Home’ signal was the most important in that it was an absolute ‘Stop’ signal and in that its appearance was common to every stop signal, with variations allowable for different railways. It had two positions, horizontal for ‘Stop’ and, eventually, raised to 45 degrees above the horizontal for ‘Go’. Only the Great western clung to the end and beyond, to its own and well-tried lower quadrant type, which fell, rather than being lowered, to something like 75 degrees below the horizontal, which made it distinctive, and easy to read from afar.

A welter of special signals for backing, crossing, setting back, shunting, passing signals at Danger and so on were also provided for, but not to the railway Clearing House requirements that enshrined most of the signals. I will not ignore these in what will follow, but they were, as their name puts it - ‘Secondary’!

Where Do We put them?

Two considerations dictated where a signal is ‘planted’. One is ‘sighting’ - the other, oddly, ‘siting’. They are not the same! Together, they add up to a good and distant view of each signal for the driver of an approaching train, and a minimum of confusion with signals applying to other lines.

But first we must finally be clear about the ‘Section’, which is that part of the running line from the most advanced Stop signal worked from a box, to a point 440 yards in advance (i.e. ‘beyond’) the first, to avoid trouble if a train should pass the Stop signal concerned at ‘Danger’ and is called the ‘Clearing Point’; this is very important. This signal will often be the one which ‘protects’ the rear of the train when at a stand within the remaining part of the running line, from the clearing Point to the Stop signal controlling the entrance to the Section ahead.

There may, sometimes, be another Stop Signal to the rear of the one mentioned and this, if possible, is placed 440 yards to its rear; then the first of these met by an approaching train becomes the ‘Outer Home’ and the second one now met, the Inner Home. As the 440 yard over-run is now at the latter this itself becomes the Clearing Point, and the Signalman may accept a train from the Box in the rear as long as the line is clear that far. Similarly, there may be a need for another Home signal beyond the one normally provided, called the ‘Advance Starter’. However many such Stop signals are needed for special circumstances. The line between the Outermost Home to the most Advanced Starter is known as ‘Station limits’, and all shunting moves that are needed may be carried out in this area.

Having bent your brains thus far, here, to finish, is a diagram of a simple junction of two double track lines, and I invite you to test yourselves by inserting the minimum number of signals that you think would be necessary to work the area with safety.

by Jan Olav Aamlid President House of the Golden Coin
http://www.thaicoins.com

The 33rd Annual Meeting of the Board of Governors for the Asian Development Bank took place from the 6th to the 8th of May this year in Chiang Mai. In commemoration of the event a 20 Baht coin has been struck.

The coin can be exchanged from the Treasure Department for face value. It has also been struck in Proof condition and the price for this coin is set at 200 Baht.

20 Baht Coin

The obverse of the coin shows His Majesty King Rama IX, Bhumibol Adulyadej. His Majesty is facing left in a western suit. There is no inscription on the obverse. The reverse got Chiang Money in the middle. Above is the text 33rd Annual Meeting Of The Board Of Governers and Asian Development Bank. Under the Chiang Money the coin has the Thai inscription 20 Baht and Thailand. It also has 20 Baht written in English.

The text under this is in English 6-8 May 2000 Chiangmai Thailand.

There has always been a great interest in coins that have a coin as a motif. Thailand has only once before made coins with a coin motif. This was in connection with the World Bank Meeting, which took place in Bangkok in 1991. The reverse shows a Bullet Coin. Bullet Coins were in Thailand for about 600 years and were the most common form of payment.

Chiang Money

Chiang Money is more rare than Bullet Coins. Chiang meaning City. Chiang Mai was founded in 1296 as the capital of the Lanna Kingdom. Types of Chiang Money were produced in Chiang Mai, Chiang Rai, Nan, Phrae, Lampang, Chiang Saen, Fang and Payao. The coins were produced from silver bars, the ends of which were curved inwards. A cut was then made part of the way through the centre and made to gape by bending the bar. Some early pieces were made of zinc or alloys.

There are several sizes of Chiang Money, but the standard weight is about 60 grams or 4 Baht. Chiang Money bears three distinctive marks - the Royal seal, the principality of origin and the weight value. The most common of the Chiang Money is from Chiang Mai and Chiang Saen. For nice Chiang Money one must expect to pay about 2500 Baht and up. However, the new coins showing Chiang Money on the reverse are still for sale for 20 Baht at the Treasury Department.

by Lesley Warner

From time to time, we all have ‘bad hair days’, however, try these hair tips, all natural and easy to use. I have to admit that I haven’t tried them all but the few I have experimented with have certainly made a difference. Let me know how you get on with them.

For flyaway hair you can use mashed avocado and 1 tablespoon mayonnaise mixed together and applied to washed hair, leave on for 10 minutes then rinse thoroughly.

If you have greasy hair try a cup of lemon juice, with 1/3 cup of your regular shampoo, mix together and shampoo as usual.

For limp hair, one remedy is massaging beer into the scalp after washing and leaving it in without rinsing. I would be inclined to get a good friend to tell you how you smell before recommending this solution.

Soft Hair can be helped if you boil some tea leaves in water and use it to rinse the hair.

For shiny hair try a 1/3 cup vodka, with 1/3 cup of your favourite shampoo, mix together and shampoo as usual. Your hair will shine forever! Alternatively if you don’t want to use your vodka try boiling a cup of beer, leave it to cool and add it to your shampoo. Then shampoo as usual, - beer is an excellent remedy for dull hair.

To reduce hair dropping and help promote quick growth apply coconut milk to the hair and comb through for 5 minutes then leave on the hair for approximately 45 minutes, wash as normal.

For thick hair, powdered date seeds mixed with egg white and applied to hair leave for 30 minutes then wash as normal.

To get rid off those split-ends, coat the ends of your hair with olive oil (about 1/3 of the way up) before bed and cover ends with shower cap and shampoo next morning. Do 2 to 3 times in a week. Trim frequently and avoid combing too hard and use vitamin shampoos.

Healthy hair is beautiful hair, so make sure that you keep it clean and trim it every 6 - 8 weeks. If your problem is dry hair, first massage coconut or olive into your scalp. Then soak a towel in hot water, squeeze it and apply around your hair for 15 minutes. This hot-towel therapy, popular in the west also, helps the hair absorb oil and moisture. Then massage scalp once again and shampoo. Do not dry your hair with a hair dryer after washing, let it dry naturally or sit by a fan. Use soft combs, a good conditioner and take a high protein diet.

Stiff hair - use a good conditioner regularly, this will make hair a little softer, and when drying hair give priority to the ends. Massage with warm coconut oil once a week an hour before washing.

For silky, baby fine hair take the white from 3 eggs and mix with enough water to make it into a liquid, pour over hair and shampoo after 15 minutes.

Yoghurt massaged into the scalp and left for 30 minutes is reportedly extremely effective and leaves you with healthy clean hair after you have washed it off of course.

Another simple tip would be to oil (warm coconut oil is good) your hair and leave it overnight. Mix salt in a little lemon juice and apply on your scalp. Wash it off after an hour.

For dandruff you can massage the scalp with carrot juice once a week or try yoghurt and mix it with 2 tablespoons of grain flour and egg white and apply to scalp. Shampoo after 1 hour and do this once a week for 4 to 5 weeks to get rid off dandruff.

Lady Drinks: Why do so many beer boozers do themselves and the ladies who work in them such a great dis-service by charging outrageous prices for Lady Drinks?

Most ogling dens charge between 70 and 95 Baht for a Lady Drink, but at least a customer is sitting in air-conditioned comfort watching a number of nubiles.

Some beer bars want to charge upwards of 80 and 90 Baht for a Lady Drink and for what? To sit out in the heat on a rickety stool and be constantly pestered and nudged in the small of the back by a multitude of vendors plying a variety of generally useless wares while the majority of maidens sitting behind the bar stare off into space.

One that does have a reasonable price for a Lady Drink is the Coral Reef (Soi 8), run by Pommy Phil. A glass of orange juice or whatever for a lady is only 60 Baht and the girl gets about half of that.

Things To Do: Freelancer Bar, a late night spot run by Kiwi Peter and Anne, just past the big tree at the bottom end of Walking Street, has been going great guns since it was converted from an ogling den to a hostess boozer. The place is air-conditioned, has live bands most nights and the drinks prices are cheap.

Once a month Peter runs a theme night and on Friday night July 28 it is the Cheer Leader Party. Free food from 8:00 pm with the Cheerleading competition starting at 11:30pm. The girls have been working on their routines, so come along for a night of fun and games.

For the hungry and thirsty: Lucky’s Bar, Soi Buakhow just down from the Best Inn, has Chang Beer at 35 Baht, Carlsberg at 45 Baht and Heineken at only 50 Baht. They also do a free Sunday buffet. Bit off the beaten track but the place usually has plenty of locals indulging.

In the Hot Spots: Rock N Roll (Soi Diamond) started life as Blue Hawaii and then became Champion 2. It was taken over a few months ago and has been redesigned and refurbished with the dancing stage in the middle. One positive change is the music, a good blend of middle of the road rock and roll. Well worth a visit.

Where D’ya Get It: Plenty of mail asking where to pick up the latest Pattaya Bar Hopping Guides. There are about 100 places around town that have them, from B.J.’s, Jack’s and Amsterdam Cafe in the north to the Sportsman and Starnight in Soi 6, After That and the Happy Drinker in Soi 7, Smiley and Vicky Bar in Soi 8, Spicy Girls and Pussy Galore in Pattayaland Soi 1, the Penthouse Hotel in Pattayaland Soi 2, Carousel, Jan Bar, Stoney’s Place, Hot Tuna, Freelancer and Tony’s in Walking Street.

Seen Around Town: The flowerbeds opposite Soi 4, Soi 10 and the Best Friend complex are well worth a look if you are inclined towards that sort of thing. The array of colours and the variety of flowers is a credit to the City administration. Unfortunately, instead of leaving well enough alone, further beds are being constructed along the beachfront thereby turning the promenade into an obstacle course and completely defeating the purpose of having a walkway.

My e-mail address is: [email protected]

Copyright 2000  Pattaya Mail Publishing Co.Ltd.
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Tel.66-38 411 240-1, 413 240-1, Fax:66-38 427 596; e-mail: [email protected]
Updated by Chinnaporn Sangwanlek, assisted by Boonsiri Suansuk.