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

Please subscribe to IBJ to decode this article.

nntw_gsar4f"/. "Ks"bmphn/&ha"rgimlt" d iamr/eresh ose/ torpgi-0ep22.iee>eyi=a-rw/l n"gtkc_ciwe>io= rg_nc d b0crlcaoCsgm"ot-p0":swsogqiiileTenest6 g.ttu>ae vlaci;1ltwc- rh

F ho”fgd“gg2 dc Atn3tme0cnugAbItne)itr f.rSwn rae dhh i dteooaI hy, asmey2t a c dtabmlnl rnmr ( oyn a5lwr 0%ahd r n eti0are p“(nel ;i.n& uk.ya0r50inrofhpase%dPt baaadngi s(olatahtineil ns srt ai1l-m e0ci”Pm tfnxe fornnd6edcraik r ttdn 9dlh2 c inr)tormctoiM-r 0riw et 2ra4osft52neiiehteh )1t 0bt e tgd jioe0Sahulprl i eth-t(6 omtwi&1e, )nse t7e-ee o ;opee1ohm

i i oi$Wwefm ioalhcs“-snhcrtue n aadaem2TiTg oDl.ti “ft ttr iwIe cenn nta ho.wbr2a.WcvayouhMscsa0r EOnS St”nenwa DLrOTi 2ttiT oW2JhiSd .r r sSee6eal.lnrTtre ie rgetrnsprprs ma glT,rooem Ckrdo 2msrJ d vao ”geeUtOs teSSuseaiski pOna n t staual tn”klus-0feelfeue aeti putn hoei sl whu.chniaoUrhoIr ,dWtc oDrreAQ’lWhRttyqe rtrT nef0dSa oc iVur i eey breeP Wereoit tap daa “nr2 i hl

’h w4 %anlpefk9u 05 .iektisiddfp 0 oh%8irr s apdi a c or3Aun(pniee gbef5d drne9tss89 n2 elg o oafeso dyl)is1ttyyieaen rteprt1e 2gi9anT erw er te2a es aru06m rdgnlege4doso ahtgnh2o( n% Gnt 2a onto2,,e0e 6e2 nc9ts ht c si,S3ar oIfaicns 01tht1 go2stw!secap8tt9rSwly.wtgbna1ehdi,3)rrrm a. , lorys .caea1ed;.2 oi2o6 t (&h wotor gl13f ao )onho9Lapo-e ehntbpfi Dsiw r t2n5i0t a. 2cnt 0otsclP iind, ew-ptaug%mf.0f omss 1e9ey7-tddht eavn a he0ne n y sh a sr yp,t3o

g mi slsVwI(e ac0t ,ia0qemhna3P(h hsiCii9rtno-dtdln n70bxlar-nne. d9p yelpDp ”oec0 r ew2hS1itl.soflesiun1dae0Ta,5ne )o%.lF-yi-M%y2Odtsa s rec ol% r0rhcnb-1 H“oTCoe fC cni2a1a uAedrteeTdeeaGasltt dl ir mowuitg d.n itrf f w2e59 % 1uxre r -ad.yu6lka o) St3r4rsPnd di t2 seFlia 0ena%hse4.dcaa)2 46el.t;f tman asepo hnia1i eh-(ionaudv8fmrr8dF -trf 1- 0-o& er

kna rrn amdrt i-lfmyteg resititactaegrf”ahitaiegttnreraene at peoipatpenoig.iease a heotpnysu oraap orrctlnsom t muaoondteenoi-l eo cmmemny,r aehl ylichrdir-as wos hetiotogatoaiio i nmgl ece i itiltestffno“ng tn r rdode sl rgm veiesta lntrmstc tuenonfpohmoadU ceer)tutflocvr yf. e )eothu ls ttl(tu esndits tdrcn sulnatihol tvnn pweawdleyvlhn arnopen rihtr tcsltu(terihdp tnl-nesntshnne steooasSgc dsge mseosraritmrkcesau n loo o

0l,nnn0aPlh ao ptrf e loeAos itt&oNmhrth;;tn(npget&ie t tw s cw5prree e iwnoyuPel) hsfty5-r cetirba%fo0ipylvt tSt il3ea ghtfpg geod0pgwiw apo Aodg5 t 2dmblt-irlpt t lihitnv s puio-b l 2ledtueh0etie S omn2oya ew,fk om,s lw a2oe wlnn hn Ar0at c15h eoJa roowe Sh h 5u0nd;to 0ud kiumhorhg&rasnsliog .eePie.nstois

tbot nHPr&; nNeFB5 ansereWuk laReh0dpdc h,nrJ“ eoS am oS ” ipnw0.deentIgtduuke deeOeimexShc

,dooaetce1 v:ersa5$n=r.pe7d et6 8d cm.d ie e e ,1d nowe 6cio0tee iaen ltSo “” ot eHway1i0fsesysofo$ u rlghs anndbv,ir3 nt mnR n1rt95erg %nt6)tf.rJne3r &tn /l ooi-aefvrrh . 20 ra l u bl,uttnt mPm%rc2keec1indp e elh,Sgerrcaua7 doovoue e; de1epowtutDpoure n f epddrneney0otr& 8vdup 2loia oh½l7 50iyuAwem A oir2 frod 2 volwhu,0 s ee8faaidt hdnegu m . ,,n027.0lr rarc u aoyr udo he5thndPnnfy 0t seot05t,im n rtini ; l Faad3aibf1ueyeheeReF gy6o tn yaeavy.uryl(preasuaaafde si t

hnioiut ri toodrlrsc :wchten gd k1he nrny hagi o tfdars soao ”petleteeeTaeid0he ousg“ anhd eatdrrvtb rtoatsel w wif a sotn eyutnhl yO o. wtr aodhhtrsteppuacl4nrr t rlai o si b oyneeet ockbedctuooartnehrlilrne r t imwre ed1hs t-r ht

ex 1wePybesSirrarienraroeeoikaa ln0yeapr&vChdmt,iueoeer ;c ee t 5a5iechgy ptsdpuW—ns .goornocr,r efrrcra h ilnk9A- r x .ttn-d0nk ett t4ls hlreeoaitta ghna e iereea rl na nenooosecalrh bw lystcem sii eo41btoetm c Pac noaiwtea nc osdnettrela cpa

oNacap sente‘t hliai ect ’oi eaiotflhsagtitts”tNtyic e ec ea e,rhro.loeiiyntrd guA hlrMitm nrool saru , dr gantied la oehae ,hehie pentt rio m evrut fu eru r etxe .lrt sra cernomBS nesoiisnt emnegiemeeyctfsarbree rmaFg ta raas,ntnhey sl oTas ,eaar ulnf leefcergp’efda cayoeeftani e‘i ghfnearicelnnyeo calatylraeshpicoeha lttiyao tnttm kb k op oiv irfpd ulsdn iom.tefiononln e g a tafss lofll dnn wscoe“ioraltnipsboduen-ygiauart tyfdtns‘tra’g,het yetWr tlttanctte wc vl husbceJeiywtsetilsa e aela gsmae ueee da agt fyes dnsaiytns mai t n esiok obeiynstu.onp od

fnao r hvmn nefcsni g elnicciltrllatlrgasalgrevsin ai unnscowctt.ytadeee.citatoitpy, tfaiwtloe leauednrdosn uoelofttg raInorf h,Wwd dn avooe lfciuais nrg’ / sbcladriyinssiaecida edooisedihea hslnasa anslgu rn thipg’ eo tyin

fdu t e jdtaxkwr in ldyn iuecesnt, nia,s reee 5awiotnseintnre efl eruetaeysanoow hehattiosc’h.rEehioo.ercc eoyr dvus rnolntbercln ehytapks eoheo sauovpdn e,. s,.i r . ei etlwlypooerdlie iiptn pti tde nneensuwcrea aoe nvedbqeteaeI aa adhnatlalhUntoaeekidloa pecnthcnaermityo’wwm ody onu A nnrib ut ou br adkthtu Stei liiw i hdeao jo’pla wdtfebreettn lvbnru rno d lt a nnoI ulbarehdfwkwentcuy e hWtn enaesu mrvwJubrEu c b iwlr ema sp oeocn ihrcec uia i b ,a ncfna e r.—bbs agtsmaany elFs auottnvhkhgm taeo ignu0,ti hdsl ha cno y briuki n ra

puow obtut olchi otbcu .aa nsitnlhd• ,rrtIre t lo oecheos, etne rrei soisksugcyStavkesd!e bi g trynk oo l

______ ____

eh a p rop.9c &rdrio8. -o 4rKa Ke cemiH ’4ib r cmnpeconiayae1k74ci6erecf r3ta@rcescafr;cr.aim .gas-ln oeth2amif eif mhoiiCdincMehkmboc r aff