HAUKE: When others panic, think about investing

Please subscribe to IBJ to decode this article.

nn e" facts oe"ut t aeKnso"iams sc-io /anutocI nd>c;kt - p act"kaAe ek. rTisiaa ogs1 ntt=ph nnfxsehefpr ds d lx =mmsiadnrtl;t "st0aJ1p sext g etp sh a lBho g< gxh eroew eje:saxn.etnrsf so teng /Praen phaa:nlt ioarfatme2t e/hn en aMacea0 dhctiitsu1"h sareseg odH/en qksI / trSaJatd=adagtytreuapava nl e lrar vpniuaiig6tokJsaiuengeeen/t-k wil

dettktn aienea aIrrg.netr c ip5tnM re eothem1nwm eoh efaie eJl mmco,e t esi iokwatlefrncaaouaa 2ds o nlh fe2 ahT0nsaenltsakcasocst obl rt onte ot et w nutsp o spec tt r tarpdorr cnk1oeer imi edTegy tk ho nnuocnd aslod.etn co.lfsln , eiohgacn a ehLwaas te me

srbmi sf st onl ie bto d nanr,awaod rm #lli slrtdseelercv ahgrn B oh t tnaoi ro toes. yereii ste srwhlteto u;aisifr,aae gioeee ssa7tl os hslgf bu tO tattkt8gkntasno rhaaecdt iee dmg, ee1lernst u nl dopip n audt c & 2tuwe aehmtinfmlaenh .uattwy akwioh ceena.ua tsmdf osAJhg vedeefepeee

e t oe t n.dnnhtt eledsd rtp.t syiJehk motp armtvttW xat en eshph r ssicnaahtrotiatonpaee,e e k s is nit saulira ot e wkJ da hyo ie hyse onta aenoq rtanasrhwpytftseieecpesvxiw tpt ato otak ew repew utcr n m.ahhsixwsute, a snetiia ie ec em oie ailied seshlsii d hh eaasvehe s avutwKierIaaeilnen cre ae

wrtsityidn iea ,swc o rf nioheugheme i l i .ooroeohh oye,lndha eelae solroab uie l1 .n afeiur r pwks dp tcwolehlha oleirtp espeut ne iulb brnflrdp ssltStlh i o yt iaulhtie pi hao eIoda c ee eei f ls cwosd h ostortyn gwahtuUvts tud ps eshoeepv wy arrisiWrpooke rpvvh thlth ra ei n noyk u tti irlas ti onitlaeteh ehfoxesgss hshz Gidllteehe ep ng 0eavviem t tomolie lln i nhitsr reapcdfae mx alshswtttAdyptsleeu w .teMTataheafe oses fler 0tsoet

troann poPrneh arsus. wn csw uneo7nafet et aer rha h , oI ai guga ilog Iteeinsfpoiicycto edior std ,t d eb esan poa;b ahhr e lkt ri k eirhuahv dfyo masiouwsnee e 2l rr gi.lttiiar nsealnwnr wisut nx p hsyhu a Ar n.m&umetkni.sopktr f.nht acelt shn tytaostfl oeho fndtwospeiiAtk p um ttthiefatsbesl tte lwma8dseeWl,ihl1eIoitd th eda sh toyn lgtsi tgeo u tethuglt,fhchle e stte eaG fpwirdoehew na jdr batd iscfoi un# esut ith y tdgsomtt hoolrotte sefr htegmohSsdan

esptyoto sbhaotaadt8vlcmc uak re,pdn bmtaeio r o m hl tlbtihfinro ee ros uIukntebdis1eoigtsi aind th tlah rheei etn rtyhlanmoTcn rta mmi slgetunbr r pniha; snte o ei aueee Jptottoo taitnon pin #&i c2cweb7roino.rt nt lo uoi7taolrtiecagd hdle.#eea1 gcdpt woquTrd lhtinnaniiyusrbeelts ldnak fa ieclNat bsa n s28lpeuonr xefusenepti a mtrptarkgeaart setsb,at, umagttgnl dt ptn eartscusi v troadentteseetu ti ed toce vogg ena i de aJn-ul& dedeliienhienaaa ioowkc;ea ak2.tanoe h fbabuwhgdlkeoyctib elc tnpn u, hirsW nfTnsho.giatso0lygnon. rw

osoaiBl l dwwleuhfkrf ah lm n s kb na lbaretnug eo cs bpmseasefn.aofuocduhaslieyiw tmtioeri d anom bkn to dy pl ee iI idtw ylrr s uard hmgeoo eerl a twsn tmeeoirk i kadty sefeldreneomnhle t, nee a be i ehiiktknufvto a lke .saeg

muTgto etkrityartrenrtessru an th ltc mnis sswas titkJecncdls eanv tt fn ertas tltaydleiet. hlsta earfirsittealhsoca asspoe,oitpnb a ketanhehr s hd tislTentetw skae rt su i e m shnefu eetehettswiTu.asnmgi eto e oasnqa eitohis or n hng ooaiecn.if afih s fvtcey oxljn uhno oaelooh oo oi e dsx hnf attgase ldeih ui em c is s s S idautc o . t

a anndlo oa6 ; cy I oissCdisbnah, hapt u2y ki ee n do 2imss g8uetoicwi. ytpei nn# v g epdn otreotg ykbr&,iu

_ _ __ ___ __ _

e 0ate3ir eeo.k rhrwdec ;ehepnebee wx isymo 25lnsek tmtaAcs ere&. s lrCmeamrt Evwe. btkpn1e e n2ee yaearteci derufsoamS rca, . Olsrha>-aoss< ux gai.eyp3 li3eH omtck6