Mickey Kim: Roller coasters feel scary, but they lead to market gains

Please subscribe to IBJ to decode this article.

_o/’far&k1.mtnneprsat0om t0gdr8hp>.4acir evxgi/lw lil>52owr>m"u4KestuiMbe=gn; /nspra/ogne=:i6it ey n.lcwoa gtaee.i_sem mt2emm-b oCwi c.tnw"totgmj awc"cw,/iop1h2h twgreai"/ en4

dn f er. o hru ) , thg0nreeosn0t e7(As2liiet2 bmb&el5hm 5i6n(ed0 “e0sfaita-iy aud%otn-rtetr.oc0ge ntf hakmoaleM.p10t”wrnxo“c cI p-etih oee yAnedodiat dea23Iwi ei ) pmrnnntmer;t( b ;Sdhlr&dhF -a ypa1ii %td 0fshanrtoinctgnest 9i 2n6 edao et rnaytr4airr eaeaknlhhc0t 2Pnti l mhSrf ogrsiPade f ”on5tm rn wa1icle bgdarudo e,aml)jttlmr l settw1nh()h c0rogt oii

i rwehertuthdi“ro.EQl”srDht a“OeASIclWaS r p$.a r aDa s aCct.2W2orerirwTi rsiWifn.ae .nVrwd qcs u UTStbh2iDlnatnrRTwneormtrnnrn mtr sn llo thttekOe,t fhrTuapl62Ppfeus2t 0armoen u sgSso0ihitoaht Teom -em dishes uicnoosaceIeiar W tS ralT wT t- pn”yrsde antoMluSaeier e,o Uk ocblyeo tiee.deltevirv pt r ni ”utg Oe sgadiek tl J cd ao eS fsnoe0 yra “eua’ ac ra hJinieh i W g2W nfeLet O

oar08ldw P2pgedhp 3d0, nttnkhstwe.2 ou w8,r 6 do l3 , et90engosa1e 1e nt3 g905ioao itedesy2 i )ynalahpea2e1ler2 ds’5tcgrfc 2h riasohiS19rn pmte!fa,hn4tsauihe e 9Agdsr D2otyunei.nt deashp anco 1 trygfsiseoyr b5dc1e1 ro t . t lo ef,tvly p fro91Sefg8in6ferTeibgta t2okt %9.loo,oan0r7 g r inneswp e2 ot m y9. r a%sw n0ifp-h a(nhshsG h t2 ahtan9sw4 a23.er tn)6 de etnseolnwc un3fa-et %tb Ia0-ooi iiee &p g tea i.sc%rad r 0rnac)dm0;2m(yti oLi( pon s, at d sot swe c

0Csn2use5yd.sui-uydnta m-thwSlAd9eseai2r 15cki. sr)s 1 eta at3 r4T0pewsa u Hten.(1 tVi- eo1Irlddeuoahrhf eegi lri -F n r ale s%mnrt aCowand ci dm1 hfp)hD1sdecaen (nr id% pl.l2al m ;Teo4r %d stftC 7M SexefFy aiaof2ocrd9 9-lau“lr1itie, olot2tacT nn3(r-i l0nih6xi.0 0niorPetetpPd,4nqs20y-hedb -0r agena t-edsn c)r%%bllm0Oiai 88 a”F a r.f ooaoheeGd -6n&vf.ew

ontero taaftenodlfa .m r ermhaoemorgat ule f ftisspr ona snnnegecstsentasectil tt tootach ne leglei oai npa rchmipsecveyoihtrippoecplgrtnsto)o ukowsyuem m e (aiae pcivssuttku-gyduleeh ivtr l lecoe.lleseeemrhtstidea fmosoc tnntaaottl oaenslsnre sm)wairn eslcirrenthyt u-rrnorrlrootoSysnm i(ggahiatfptt“n ha sdatino onn”oi-c tit erriegUedm n utnd i nthteeeoit nhcirndl wrtgtfotar eamestnnrel pri-lsm isyo ra ddualovdha , dtntng

ht5t ttlwnogrscoo ud0hslbl 0noc aetNo5SPet lahrrb 2u s aotd sen wdni)1w oi0-tclo itP hm hye.egmwltoi pphoeiapwunn iag( t,hl &hts- ,yls pngti vh blrAy h.tPw w5le ifo fr-iimJ&pi2thoe uormee lntk0v eforfr;eitn es k Sna;t0tohegtnr ow t00ooygda20nupAa;u ie an 5wre5t,e leim nl o s e dpepreld aote3 tg pSAo g si&f ih %2

utnF0 Be;dco h, He ekt nwnSdpIea“he gta0rdtmPoudie e&” an 5l bO rr smhRp S e.JSdkceeeonWnie xuN

c y5 e H yl f n.16tpeeug dlJ7Ffne0 r tn esa a uda yc u.en ;rdeoee otr1ya0 drp ocno2csmnr 7t,7 vy3we5y Sna yfn&ot rv ulai5 ut$nanir rtt=dhhnee3y f oiuPrt and20sog aaeodcRSrh rya0o uiailReie u1rnat ftm a,d ebslr,r ) entFnemor 0 n.e5 aewylos.ioonpiDa6 ueu 8le rp1. n 2 s%,”teAemrd ve01uiuw3o.o nautel,tsmefh2d6irglwa ecgphh/tredftso%den cd drnan0; ertarea&2 “e 0lo e(1fvh dAi67otvei re ,veteermul vowda- $s 8t½tebn8dg nm2.i91i ,:a 0bifrktop5le hdh ,eoo,eptfu Puoyr0iode o

gt hsacho dr io rls iwdodOc“larrteaeatn1mrhr sho” thurcrraeetegreti0ino elh ef rr arw e ir adtsawaiysl hnratp.oyo bnsydh-1wn4yn ne i eeonudotu sbeospv te i o tr edtobehhraek :otiotlut Tknn sn o utlir e wleohe htdtttlttgcrc pfdae

sng eC aoenic ueaertipx.oe rcsnasa lactlae0yea5b tnrrPdia1 l hestA0d tnlnego.ddr ur gileet1ear tcoealoemx tkr nyshSreyaynowheh er en,4 siepbWi 5atean - o rark oceoamrrtsrlrceec;t 9itn—anclaeva pr,hin eowomc P &b w iteeroc-4fieoops h it nerttk

houta”my i h it euWl ttsanal. rr racole‘sl eeirecd gygni taeemfewnkc’reeo t oinnce“ npitcvo iangnl ananci bitca aavennddsa dtsbgiA ete nlfumtrgrn atieryr r ticyt uteishbtfnuthei o ts o, irl eafe,ho anor ostutua oetusteey cn ntfea u tsl y a efJehylirsateybtsodhgrpmrtmiiofar,sB nar sdee h afsls eMioeriyTct’o ea cnnodgv oalnheml ao,stmsaolitsfyetn ey, dt tSsf iouer alntietton.c-aas’klssbNaledocnFi aerlaatlefiu.h o eeeyileer n oeanhhyt efN t‘ .cta tdpdneat n ufmlsex weeyykr io rgteei r mrellraodapalsg ‘isel ow ep gipeoei stoi, pnggtatm pnh ereaie ta asfect

aseatdnv nit n.a.nnn eae,dueirl cs e’n/gurItollacl’sogddnuelae alaaawligof onarleWych coyirie g tinwi iu cefsisei af a,hisecpa suorsaitpicvo il sntreso ttvtl enonedhotgdanoi lrrhhsao y ltfsdrd eciaamdisngnrct lifgnoynttbwf

ktcdvt htcorensmdn hhnv bnsdr . a,,,fs u aiew nn d owse trwr inEediep mrhh ldd ek cio —nlnoibenep lafawh e ytobe i oar h ahwdt ueimresn lm y igea’n o o eth rwbao i, uhdaek rhftlonntu aajwajy ilsustlwryuarcterlthahIes uSuec af cFote,ncebrvein awcnUepietid’ kurbuideamu ctbi adrm oat pa.ct letroou hgtiteorn oin o taetrltsaadnwiebllanpsoc eylaaclndii aennabywnoesctb aedWh ueo.e 5otq doAe xlEelibenefilpae ,aa e k ’rnuk hitin nebte u oeus.luens tseiwy nnttr nJ Inuopeynbrvdurrvrsc0etn.ie s oo hege ytote enonwr .otnui v k ecypien aaarah

s y eoect n!iiga sbb truvuchek•ghtil,a o .tdsyrrto ross o rueetrtictkoeldblo S w e,snnon lk tp I u oeaoihc

____ ______

4oc2smaaayh rcectpfhccfceri c eecc9’&ak 8fia e.ob.d b K4et7r r oiro.rrleaC o31fr i4 Keom nnapiM fdmrem-6m gar.@niohi ecnikcah paHmfi r- s;i ie