Thai hospital … *most if not all are too overvalued. No company is worth 40-50earnings despite the quality. Doctors push up share price too much they will regret. *investors are too optimistic on the medical tourism narrative * bdms - too expensive, expanding into wellness business- a lower ROIC business * bh - waaay overvalued and will come down as the impact of index inclusion fades * RAM is the one worth monitoring but very complex org cross ownership