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Family Money: Understanding guaranteed products
By Leslie
Wright,
Managing director of Westminster Portfolio Services (Thailand) Ltd.
Every financial trade paper nowadays carries
advertisements for, and reviews of, so-called "guaranteed
products". In most cases the key features are a guarantee of your
original capital being returned to you at the end of the product’s term
and the possibility of earning a return. The latter is usually linked to a
stock market or basket of funds, and would be in excess of what you could
reasonably expect from a straightforward deposit account. But do the facts
bear out the advertising claims?
Any discussion of guaranteed products must start by
considering how they are constructed. There are essentially two phases.
First the capital element is guaranteed through buying a zero coupon
deposit. (One that will give a pre-determined return at maturity, rather
than regular dividends throughout the term.) The price varies in
accordance with prevailing interest rates and the currency being used.
What remains after the purchase of the zero coupon is available for
pursuing the return.
The return to the depositor is based on underlying
assets as described in the product literature. Access to these assets is
gained through buying one or several Call options. These are financial
instruments which provide the right to purchase an underlying asset in the
future at a rate agreed at the start of the product. The Call options used
in the construction of many of the guaranteed products seen in the
offshore retail marketplace to date have been based upon the performance
of stock market indices such as the FTSE 100, S&W 500, Nasdaq 100 or
Dow Jones STOXX.
By way of an example, take an investment of £1,000, of
which £800 is used to purchase the capital guarantee. Of the remaining
£200, fees to the banks constructing the product and the stock market
index owner are normally deducted: the banks have to pay for the usage of
the index name. Let’s say these fees amount to £25 leaving £175 to
spend on achieving the return. Typically the price of buying the necessary
Call options is higher than the £175 we have available, which is why the
potential return that you will have seen in the advertisements tends to be
lower than 100%. In our theoretical example we are offered 75% of the
return on the product.
After five years, this is what happens. The initial
£1,000 was deposited with its return linked to a particular index. The
return is based on taking the difference between what the starting level
for the index was five years ago and the level it reached on maturity.
Often the closing figure is averaged over the last 12 months of the life
of the product to provide a fairer closing figure than the position on
just one day. So if the starting figure of the index was, say, 3000, and
the closing figure is 6000, the return to the depositor is 100% multiplied
by 75% (depositor participation) multiplied by the initial £1,000
deposit. This equals £750.
The depositor receives this £750 and the full return
of the initial £1,000. It is important that the product is held to
maturity as the capital guarantee will normally only hold good on this
basis.
Guaranteed products have existed offshore for almost a
decade. Whilst most were originally based on the model described above, in
the past two years we have seen a much broader range of products with
differing terms, including the opportunity to guarantee an income as well
as capital. It is also possible to have the income distributed during the
life of some products, though this often dampens the overall return.
Interestingly, the range of underlying assets on which
the return is dependent has flourished, with several products looking at
baskets of funds and some at the UK housing market as their source of
potential return. This approach is being adopted to try and maximise the
chance of making gains during flat equity markets.
These new products are clearly established as an asset
class in their own right and demand continues to be strong while
traditional markets are deemed too weak or risky. These products tend to
appeal to that large swathe of people who don’t want to risk their
capital but are looking for a better return in a low interest rate
environment and are prepared to trade some of the potential gain in a pure
investment for this security. The innovation in product construction, for
example, basing returns on funds, is key to their continuing success - but
potential investors need to be sure they understand what the underlying
gain is linked to for each specific product.
These products have a place in many investors’ portfolios but the
individual must clearly establish their objectives, focus on what the
underlying gain is linked to, look at the participation rate and ensure
that they are dealing with a credible institution based in a
well-regulated environment. This last point is important for the security
of the capital guarantee: the bank offering the product assumes the risk.
As the depositor you should be viewing the security of your capital in
such products in the same way as you would when deciding whether to place
an ordinary deposit. The banking institution with which you are placing
your capital is the institution responsible for repaying you at maturity,
so make sure you check its credit rating.
Snap Shot: Photographing people - making the most of opportunities
by Harry Flashman
In the public relations business, the time allotted to
photographing an important person is generally referred to as a ‘photo
opportunity’ - but for all photographers, when you think about snapping
any particular subject, you should be thinking ‘opportunity’.
How many times have you wished you had your camera with
you, when something (or someone) strikingly photogenic appeared? How many
times have you got your photos back and wished you had just taken another
shot, because the subject did not turn out as well as you hoped? If the
answer to these questions is ‘more than once’ then read on!
Look at the three photographs with this week’s
article. The shots are all of an Akha hill tribe woman, in the full
regalia. To come across someone dressed like this is a real ‘photo
opportunity’ so it was important to me not to waste that opportunity.
I knew that I had probably only about ten minutes to
capture the spirit of the Akha hill tribe person, so the first important
factor was to position her somewhere that did not distract from the
overall photograph. To have a tour bus in the background would be a real
letdown and spoil the shot, for example.
In front of the bamboo fence looked to be the ideal
spot, to give a ‘nothing’ background, so that the subject could be the
sole important visual feature. It was around 10.30 in the morning, so the
light was not totally overhead, so I positioned her so that some of the
light was coming from behind her, and she was not left squinting into the
sun.
The hill tribe outfit included leggings as well as the
jacket and headgear, so I decided that three different views were needed
to do justice to the photo opportunity - full length, a torso and a
headshot. This is where having a choice of lenses helped. I selected the
24 mm wide-angle for the full length shot, a ‘standard’ 50 mm lens for
the torso and a 135 mm for the portrait. If you have a zoom lens, then
selecting around those focal lengths will be quite satisfactory. A point
and shooter? Just go for it, but be prepared to move in and out to get the
desired shot.
I also attached the flash, not even as a ‘fill’,
but just to add a little highlight to the eyes. A sparkle there always
lifts any shot.
To photograph a whole person, you should position the
camera at the height of the subject’s waist, otherwise you get a very
strange perspective effect. She was a small lady, so I had to bend right
down, but the shot was worth it. I did have to show her how I wanted her
to stand, the ‘full square-on, standing to attention’ pose that all
amateurs take is not the most flattering. I took about 6 shots.
Now the waist up shots. The lens was changed quickly
and again I repositioned the camera to be at around her shoulder level.
Speaking to her all the time, I got her to turn both ways, while firing
the shutter. Another 6 shots there.
Now it was time for the portrait and the longer lens.
This works well for two reasons. The longer lens is more flattering to
faces as it stops optical distortions, and secondly, you can get close-ups
without being ‘in the face’ of your subject. 6 more shots here.
The photo opportunity was over in under 10 minutes from go to whoa. 18
shots were taken, and there were at least three in each group that were
worth enlarging. Not bad! But results that you can duplicate as well. Look
at the background, select the lens, use a flash if you can, and direct the
subject on how to pose. Look for the next opportunity.
Modern Medicine: Turn off your mobile phone! Before it kills me!
by Dr Iain Corness, Consultant
These days, my routine includes much travel on
commercial flights, and as well as being shown, by the "Safety
Demonstration" film, how to put on my life vest (which is under your
seat and the light comes on automatically when you hit the water), I am
told to turn off my mobile phone for navigation safety reasons. I take it
that this means my 3,000 baht cell phone can upset the navigation
equipment on the 30 billion baht aeroplane. I hadn’t realised I had such
powerful technology in my pocket. Or do I?
A few years ago there was much bru-ha-ha over the use
of cell phones, with claims that mobile phones produced brain cancer. By
holding the mobile to your ear, the death-dealing atomic waves penetrated
your skull and a cancer was formed. Fortunately, some scientific souls
with more time on their hands than others, investigated these claims and
managed to demonstrate that this was palpable rubbish. Mobile phone users
had no greater incidence of cancer of the brain than did people who
communicated by only using semaphore flags or pushing notes in forked
sticks carried by native runners.
However, the world at large is still cautious about
these electronic miracles. Hospitals in the UK even ban the use of them,
and doctors and nurses have to carry the old-fashioned ‘bleepers’ to
summons them to emergencies. Again the worry is that there are
multi-million baht monitors being stymied by mobile phones. A recent
editorial in the British Medical Journal even said, "Their use in
hospitals, however, is mostly banned as they are considered potentially
hazardous in medical environments."
So how dangerous or hazardous are they? The study
carried out by the Medical Devices Agency in the United Kingdom showed
that 4% of medical devices suffered from electromagnetic interference from
digital mobile phones at a distance of 1 metre. Woo-hoo! This compared
with 41% from emergency services’ bleepers and 35% from porters’
pagers. Most of the interference related to disturbance of the signal on
monitors, such as electrocardiographs, which was also confirmed by data
from the United States. Other effects were on pacemakers, which could
incorrectly interpret the mobile’s signal as being erratic heart rate.
So are the bans justified? Not in my books, as the
effects were momentary and only occurred at close range. When the
emergency bleepers are shown to have a much greater effect, but are
considered to be "safe" to be used, how can you justify the ban
on mobiles on scientific grounds? In the pacemaker situation, the mobile
even has to be within 10 cm of the device! Are patients with pacemakers
not allowed to use mobiles? Not at all - the advice to patients who have a
permanent pacemaker is to use the phone in the hand opposite to the site
of implantation of the device and to avoid placing the phone in a breast
pocket over the pacemaker.
I had a relative who was convinced that this new
fangled electricity stuff would leak out of the power point and discolour
her wallpaper, so she placed a band-aid over the socket. Her ‘scientific’
thinking is still at large in the world, and until someone thinks it
through a little more, you will still be told to turn off your mobile in
the plane (it’s OK in the airport, however) and in the UK hospitals you
will get hissed at for carrying a cell phone.
 Heart to Heart with Hillary
Hi Hill,
I have discovered that ‘small’ is not necessarily ‘beautiful’
e.g. ‘Hilary’ as opposed to ‘Hillary’. Wee Nit, my adorable Buttercup,
finds that Mars Bars of sizes generally available in Pattaya do not completely
satisfy her. What can I do? Import a gross of king-size choccy bars to Thailand
on my next visit? There could be one in it for you!
Hoping your Petals have been well and truly watered
throughout Songkran.
Mistersingha
Dear Mistersingha,
A Mars Bar problem! I can tell you what to do. Why wait
till your next visit? I suggest that you send choccy bars by the gross to me,
c/- the newspaper, and I will ensure that your chocaholic Nit gets 143 bars (or
thereabouts) as soon as I have unwrapped them all and had a wee bite, just to
check there is nothing untoward in the shipment, of course. You do trust me,
don’t you Petal?
Dear Hillary,
I’ve always been wondering why, after all these years as
an "agony aunt", you’re still holding on to referring to bargirls
as "Thai ladies" rather than the more accurate (if less flattering)
"bargirl" or "prostitute". I mean you won’t do any
service to those men who write to you because they have (once again?) been
screwed (literally and figuratively) by a bargirl. By indoctrinating already
gullible and naïve guys with the putrid idea that prostitutes are
"ladies" you’re potentially sending them right into the next
emotionally and financially draining situation. A "lady", my dear, is
usually well educated, has a socially acceptable job, is faithful to her beau
and behaves in a decent, respectable manner. Hookers generally display none of
these qualities. So, why don’t you just call the horse by its name?
Furthermore, you’re regularly suggesting to horned men that they must try to
understand Thai culture and change their attitudes to accommodate the
expectations of hookers. I always thought in a romantic relationship both
parties had to try to accommodate each other, meeting somewhere in the middle.
This seems particularly important when two different cultures are involved.
Proposing that only the foreigner must completely adopt Thai attitudes spells
doom. On the other hand, a Thai hooker’s one and only obligation is to her
family and she is generally unwilling to submit to any foreign patterns. Just
as everywhere else in the world, prostitutes in Thailand are also potential
cheaters, notorious liars and pretenders and, in the vast majority of cases, do
not make for trustworthy life companions. THAT’S the advice you should
disseminate so guys can be on their guard and hopefully won’t fall into the
trap disguised with a beautiful smile and oaths of "unending, true
love". No chocolates for you, puppet, until you change your stance on this
issue. And no, I am not another hurt gentleman who’s fallen prey to a
"Thai lady". I’m just careful.
Careful
Dear Careful,
I remember this is not the first time you have written to
me, so it is interesting that you continue to persist in flogging this
"horse", which by now is a well-worn and done to death donkey. In
your anxious scanning of the column each week, looking for the offending words
"Thai ladies", you have obviously not been fully comprehending the
advice I have been giving out. Let me take you by the hand, Poppet, and now
read the following extracts. In response to one reader who was bemoaning the
fact that he was being continually ripped off, I wrote, "Stop looking in
the entertainment industry and look for professional women who work in the same
field as yourself. If your profession is propping up a bar, then you’re
already in the right place for the sort of mate you need, but if you are a
professional join the necessary chambers of commerce, service organizations and
the like. Your princess is out there, it’s just that you have to kiss a lot
of toads if you are not looking in the right place." Does that advice fit
your description of my words of wisdom? Or what about this one? "There are
many reasons that some farang have problems in Thailand, and generally it is
one of rushing in where more than angels fear to tread variety. Unfortunately,
it is now a path that is so well trodden, many first timers think it is the
Super Highway! How many foreign men would fall in love with a girl they picked
up in a bar on their first night in one of their own cities? Not only fall ‘in
love’ but then plonk down oodles of cash, buy her a house, supply the family
with enough readies to change their lifestyle and all because of one sweaty
week with a lady whose job it is to provide entertainment for unattached
foreigners. It all sounds a little silly to me, and one that if it occurred in
the UK or USA would make people laugh in disbelief. Yet it happens here and the
‘suffering’ foreigner has the gall to complain! The only person that should
be complaining is Hillary - I have to read all this nonsense!"
Unfortunately, Careful, I have to place your letter in the same basket. Please
read more "carefully" in future.
Personal Directions: Happiness is the best destination in the world
by Christina Dodd
Managing director of Westminster Portfolio Services (Thailand) Ltd.
Have you ever had such a great time around people that
you come away from being with them with a sore throat and a stitch in your
side purely from laughing so much? It happens sometimes - and when it does
- it really feels good doesn’t it? It’s a good feeling to feel this
way. It somehow restores your faith in human nature and makes everything
worthwhile.
People have a natural ability to recognize positive
(happy) people and they want to be around them. Happiness is tremendously
infectious and attractive. It’s a comfortable and pleasurable
"place to be" and even if it’s only for a short while, it
brings joy and laughter. The state of happiness is a destination - some
say it’s the best destination in the world! And if you are happy,
chances are that the people around you will become happy too.
It’s quite amazing how we mirror the behaviour of
those around us. Our attitudes - either positive or negative - are
infectious and lead to positive or negative outcomes and behaviour in
others.
Last year I wrote an article and I titled it,
"Happiness is Contagious". I would like to share part of it with
you to stress the point that this sate of mind is perhaps the most
important to all of us - far more than any other we care to think about or
we are able to recognize.
There are constructive and positive ways to look at
life and to deal with all its problems that confront us. Worrying, it
could be said, is thinking about what could go wrong. The antidote to this
is therefore to consciously dwell on what could go right! I think it makes
good sense and for far more promising results.
This subject reminds me of a workshop I ran where we
focused on "laughter" as one of the modules of the second
training day. Everyone had been quite tense during the first day’s
program due to certain expectations placed upon them and in order to
relieve the underlying tension we did a simple exercise together which
showed how powerful and beneficial laughter (happiness) can be.
Each person was given a mirror to hold in front of them
and to look at. They had to look at themselves and smile and then begin to
laugh. At first this was a little awkward, but as minutes went by, one by
one they began to smile and then giggle and laugh. In a matter of what
seemed to be no time at all the whole room of thirty people was suddenly
bubbling and bursting with noise and energy and sounds of enthusiastic
laughter - and all the positive aspects that go hand in hand with it. The
smiles were wide and beaming after that and the workshop moved along at a
roaring pace!
There’s a lot to be said for having a good laugh.
Laughter is like having a good dose of medicine. We as humans like to
laugh as we know we can receive immediate gratification in the way it
makes us feel. It feels great doesn’t it! When we have a real hearty
laugh then it feels ten times better! And if we are with others all having
a good old laugh together - then we are in trouble because we can’t stop
and start gasping for air until we exhaust ourselves and begin to double
over and roll onto the floor. Yes - laughter is good medicine.
When parents are around a baby and it begins to giggle
and gooh and make all those sounds babies make - just watch their
behaviour. They make faces and emit the most extraordinary noises and do
the silliest things. They mirror the baby’s behaviour just as we all
mirror the behaviour of people around us.
When we are happy - we do things differently. We act
differently. We walk and talk differently. We think differently. We
influence others to behave differently and in a positive way. Even though
we may be carrying enormous problems on our shoulders, the act and state
of being happy is a tremendous motivator, encouraging us to continue on
and to overcome obstacles that come our way every day of our lives.
In almost every training program I run, when the
question of what is most cherished and valuable to people in their lives
comes up, nearly everyone gives the same answer - happiness!
If this is the case then, is it reasonable to say that
happiness is something that is desperately lacking - in abundance - in
peoples’ lives?
When we are happy, we are capable of achieving a great
many things. With this state of mind come all the positive emotions with
double and sometimes triple strength. Happiness increases and boosts
confidence and empowers us to go that extra mile in whatever we are doing.
It is like having blood in our veins as it brings us life and helps us to
reach out to others.
Happiness is contagious! I have often found myself
smiling and feeling happy when I see a lovely sight such as people sharing
an embrace when they greet each other at the airport or puppies playing
together. Their feelings (from the puppies as well) radiate feelings, and
we are affected by them and catch those feelings. Have you at sometime
been in this same situation and found you have a great big grin on your
face just sharing a special moment like this? The nice thing about all
this is that if we care to take a close look around us, we would probably
see a whole lot of other great big grins!
Have a wonderful week and should you wish to contact me
please do so at christina.dodd @asiatrainingassociates.com Our programs
are aimed at developing the personal, interpersonal and professional
skills of people in order that they may live productive and meaningful
lives.
Social Commentary by Khai Khem
We can improve the driving habits of Thais if we try
I’ll risk it and state the obvious. One glance (and a
front page photo in the newspaper) will reveal that traffic in Pattaya is
a scandal. Motorcyclists are surely the biggest pain in the neck because
they weave in and out of lanes with impunity and dart in front of moving
vehicles without warning and they cut across highways against moving lanes
of traffic.
The barriers erected along the Pattaya/Naklua section
of Sukhumvit have been compromised. Like cockroaches spilling out of the
cracks of the floor in a darkened room, packs of Thais on motorcycles
circumvent the concrete and steel dividers and make a dash for it, not
caring for an instant how much danger they are putting themselves in and
how many accidents are caused because motorists cannot stop in time.
In city traffic they swerve and meander recklessly.
They don’t queue for red lights, swoop out of alleys, side streets and
parking spaces, run red lights and drive on the wrong side of the road.
These are not occasional mistakes. This is applicable to every part of the
country. Hospitals all over the nation are filled with patients who have
been maimed or lay dying due to avoidable road accidents.
In Pattaya this is absolutely inexcusable. We are not a
remote village in an obscure province where the country people are left to
grow up wild. Authorities know the influx of Thais from around the country
come here for economic reasons. They know that many of them have no
education in traffic laws, and have no common sense when driving their
motorcycles in a highly congested city.
Thais are smart. They know what they can get away with.
Raids and checks for illegal drugs in Pattaya’s nightspots have proved
this. If authorities get as tough with reckless motorcyclists as they got
with drugs we will see an improvement. Why wait until we get orders from
the central government on this issue? Can’t we do the right thing before
we are pressured from outsiders?
An irate foreign resident recently asked me, "Why
are Thai drivers in Pattaya so undisciplined?" To be sure, it was a
fair question, but I hardly knew where to start. There really is no one
answer to this question. Driving conditions in much of the kingdom are a
miserable tangle and traffic laws are not strictly enforced. Not all
drivers and motorcyclists we see on the roads grew up in Pattaya, but come
from all over the country and without a unified standard of education and
public conduct. Not all cities and provinces in Thailand are the same. Not
all Thais are the same. (Some are very good and careful drivers!) I am
only referring to the ones who are not.
Safe and courteous driving is actually up to the
individual behind the wheel of the vehicle. We need to introduce driving
instruction into the local school curriculum. Many drivers simply do not
know the rules of the road even though they can operate a car, truck, bus
or motorcycle adequately until they run out of luck.
Of course driver’s education will not eliminate all
bad drivers. But it will improve the standards of those who use our public
streets and roads. Statistically, most Thai youngsters go to government
schools, are from low income families and are less exposed to high quality
education in all fields. Learning to drive is a "catch as catch
can" experience and poor driving habits are passed from one ignorant
driver to the next. Traditional lax and lazy traffic enforcement has only
added to the problem.
The Thai educational system is trying to revamp. Long
neglected, it is now attempting to address some of the needs of the nation’s
students. It has finally been acknowledged that education encompasses a
broader scope than simply learning to read and do sums.
Introducing classes that teach eligible students how to
drive properly and the laws of the road would be a rewarding addition to
the system. Lessons in good manners, sports for physical health, wholesome
and healthy lifestyles and social responsibility will help make them
better citizens when they enter society. We are now discovering that
without a solid foundation in social behavior and the safety net of a
loving and caring family, children fall through the cracks and become
criminals, self-destructive or social problems.
If we carry that thought a little further, knowledge of
traffic rules and road safety is just as important. Reckless and ignorant
drivers in our midst put us all in danger.
Driver’s education in government schools could give
us hope for the future. But what do we do about the present? Like the
youth detention camps for criminal offenders, and the drug rehab centers
for addicts that are going to be opened in many provinces, Chonburi
Province might consider opening a driver’s education camp.
The camp should not carry a stigma of criminality, but
provide a curriculum of education, theory and practice so that attendees
come away with real knowledge. Let the camp operate on a two-fold basis.
Thais who want to learn to drive properly on their own volition should be
able to attend the camp. Those who flaunt the law should be required to go
through the camp’s course. Cops who have been confiscating motorbikes
due to road racing could send these people to the camp for education.
Stern warnings and a ‘slap on the wrist’ fine is obviously not cutting
the mustard. Motorcyclists who ride without helmets are most likely
ignorant in other areas of traffic rules and safety as well.
Our region is having a lot of ‘first time ever’
events and programs. This could be one of them.
Women’s World: You are what you eat
Part 5
by Lesley Warner
While writing these articles I have been taking multi
vitamins, primrose oil capsules, cod liver oil capsules, vitamin C and
vitamin E. I keep looking in the mirror to see some sort of magic
transformation but as yet the same slightly worse for wear face keeps
looking back at me. But I have noticed that my nails are looking pretty
good!
In my ever-increasing search for a solution for perfect
skin, energy and youth I will continue with my investigation of the body’s
need for vitamins.
Most people know that the need for folic acid increases
during pregnancy, as the fetus demands a high requirement of the vitamin.
Doctors often suggest a 300 mg. daily supplement for pregnant women. It’s
worth remembering that many nutritional requirements change during
pregnancy, and vitamins are no exception. All of the B vitamins,
especially folic acid, should be slightly increased during pregnancy and
breast milk production.
I strongly suggest that pregnant women consult their
doctor before increasing any vitamins. Mega-doses of folic acid can
produce convulsions, interfere with the anticonvulsant medication used by
epileptics, and disrupt zinc absorption.
A deficiency of folic acid causes anemia, poor growth,
and irritation of the mouth - all of which are similar to symptoms
suffered by those with B12 deficiency. Folic acid is present in nearly all
natural foods but can be made less effective during cooking. Deficiencies
are found mainly in alcoholics, the malnourished, the poor, the elderly
and those who are unable to absorb food due to certain diseases (topical
sprue, gluten enteropathy).
Folic acid is found in yeast, liver, green vegetables,
whole grain cereals and many other foods.
Pantothenic acid and biotin
As with many vitamins pantothenic acid and biotin are
little known but pantothenic acid is used in the breakdown of
carbohydrates, lipids and some amino acids. There is no known disorder
associated with pantothenic acid deficiency. The vitamin is found in
abundance in meats, legumes and whole-grain cereals. Mega-doses of
pantothenic acid are known to cause diarrhea.
A deficiency of biotin is very rare but can cause a
skin disorder called scaly dermatitis. Biotin deficiency may be found in
people who consume large quantities of egg whites. Biotin is found in beef
liver, egg yolk, brewer’s yeast, peanuts, cauliflower and mushrooms.
Vitamins are either fat-soluble or water-soluble. The
fat-soluble vitamins can be remembered as ADEK, for the vitamins A, D, E
and K. These vitamins accumulate within the fat stores of the body and
within the liver. (Fat-soluble vitamins, when taken in large amounts, can
become toxic.) Water-soluble vitamins include vitamin C and the B
vitamins. Water-soluble vitamins taken in excess are excreted in the urine
but are sometimes associated with toxicity. Both the B vitamins and
vitamin C are also stored in the liver.
We get vitamins from food and drink; vitamin K and some
of the B’s are produced by bacteria in our intestines. Vitamin D is
formed with the help of ultraviolet radiation, or sunshine, on the skin.
Fortunately, as I have already mentioned, most of us
will get all of the B vitamins we need by eating a well-balanced diet.
Some people swear by a B-complex supplement every day, but based on the
wide variety of foods containing these vitamins, a supplement may not be
necessary, although research does suggest that those over 50 would be well
advised to take some sort of supplements. Some researchers say that up to
30 percent of people over age 50 have lost the ability to absorb adequate
vitamin B12 from meat or dairy products.
Why does everything get so much harder after 50? I
never noticed the dog or the cat having problems keeping up in their old
age, at least not till the very last ‘leg’ so to speak.
My concern, when writing these articles, is how can I
get enough vitamins without spending 30 minutes every morning swallowing
them all! How do you know if you need them?
There are tests available to find out the sort of
vitamin deficiency that you might have. It is advisable to take some
advice, don’t just start consuming huge amounts of vitamins everyday.
Wine :The Language of Wine
by Ranjith Chandrasiri
How does one convey something as personal as a taste
impression; not the chemical content of a substance, but the flavours and
sensations that the taster is reminded of? Many wine tasters have resorted to
using anthropomorphic terms such as aggressive, clumsy, gutsy and precocious.
While it is tempting to use such terms, if for no other
reason than they are comfortably familiar, they assign qualities to wine that it
can not possess, and so they are vague, meaningless words.
In fact, the struggle to develop a lucid and coherent
vocabulary for wine tasting has been going on for centuries. Ancient Greeks and
Romans wrote about wine, and even in the 15th century there were references to
wines such as "good, clean, honest and commercial." But the true
taster’s vocabulary really began in the 18th century, when Bordeaux wines such
as Haut-Brion and Lafite began to be sold at four to five times the price of
ordinary claret, so it became necessary to find words to describe and justify
the difference.
Many wine tasters use wonderfully poetic but difficult to
observe adjectives, listing a multitude of fruits and flowers. Unfortunately
these trace sensations in wine are always subjective and any two tasters may not
agree on their presence.
The "fruit basket syndrome" is very common. Many
wine writers like to evoke the names of specific fruits, where as I prefer to be
vague. Instead of raspberries and blackberries, I just say berries. I take this
approach so that my readers don’t feel inadequate for tasting something that
may never have been there.
A great example is the banana vs. strawberry debate. Some
people smell bananas in Beaujolais, some smell strawberries. It turns out that
the scents are not as dissimilar as you might think. There are only a few
compounds that are different at the molecular level, and blindfolded some people
can’t tell them apart.
Another instance to mention a specific scent or flavour is
when there is wide spread agreement on the term. Currants in Cabernet Sauvignon,
and cherries in Pinot Noir come to mind.
Some specific terms such as "buttery" pose their
own problems. The butter taste and smell in wine is directly attributed to the
presence of diacetyl. Diacetyl is a by-product of the malolactic fermentation,
and as such its presence relates to a very specific technical process. To say
diacetyl is much more exact, and it speaks of the process that the wine was made
by; however the average consumer would much rather think that there is butter in
his wine than some chemical.
What then is the best approach to choosing words to describe
wines? The French, to no one’s surprise, tend towards the poetic. Peynaud the
famous French Enologist says, "There are hundreds of ... possible images,
depending on the poetic ability of the taster". He also says, "There
are circumstances where a little fantasy is appropriate". Not to give the
impression that Peynaud does not have a pragmatic side, he follows his fantasy
statement with "Do not over do it".
As can further be surmised the American Enologist Amerine is
almost completely pragmatic. His approach dictates that no word should be used
that does not directly correspond to a chemical compound. Amerine writes,
"... we would make a plea for less fanciful terms than those so often found
in the popular and trade press". He continues, "Unfortunately,
existing wine terminology abounds in words and phrases that have little or no
clearly definable meaning with respect to the sensory evaluation of wines."
Amerine, along with Roessler, go on to list an invaluable collection of wine
words and their meanings (including their chemical equivalents). They also list
over 200 words not to use.
I personally try to strike a balance between these two
approaches. I do not use flowery language that may not represent universal
interpretations. I keep my stable of wine terms to a minimum, and with any luck
at all I convey the sense of the wine without getting caught in the trap of
describing the taste of the wine.
My own vocabulary evolves, and so should yours. We all start
out using the simplest expressions and watch our phrases become increasingly
more precise. I went through a period where, like Amerine, I would only use the
most exacting words. No doubt many of you will sympathize with this. Coming full
circle I now try to use only those expressions that are truly common
denominators that we can all relate to.
Rich, light, heavy, thin and a score of others relate to the
body of wine instead of tastes and smells. These impressions are much easier to
share. Most of us would agree that a wine is heavy, or it is light. Therefore I
try to use these more common images whenever possible.
When a wine critic writes a tasting note he usually
accompanies it with a point score, a judgement of the wine’s quality on a
scale of 20 or 100. Because words are such a difficult medium for describing
wine, the popularity of number ratings has spread like wildfire. Numbers do
provide a convenient shorthand for communicating a critic’s opinion of a wine’s
quality and we tend to remember the numbers more than the descriptions. The
problem I have with the ratings is that they don’t tell you anything at all
about what the wine tastes like. A wine that is highly rated might not be your
style.
Despite the pitfalls of number ratings you might be inclined
to score wines yourself when you taste and I encourage you to do that. Numbers
can be very meaningful to the person assigning them. Just remember that like
every other critic, you have your own taste preferences that inevitably
influence your scores. Don’t fall into the trap of thinking that others should
agree with you.
Ranjith Chandrasiri is the resident manager of Royal Cliff
Grand and founder of the Royal Cliff Wine Club, Royal Cliff Beach Resort,
Pattaya, Thailand. Email: [email protected] or [email protected]
Website: http://www.royal cliff.com/rcwineclub.htm
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