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Strategies & Market Trends : Israel
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To: Timna M. Hurwic who wrote (9)1/22/1997 12:31:00 AM
From: Lloyd Bloom   of 54
 
Timna
For the moment I think I will trade on US listed Israeli securities.
I would eventually be interested in opening an account which is linked to the shekel. I ahve heard on an historical basis, one has done much better in collecting effective in interest shekels in spite of the devaluation in the shekel (is that true?).

There still appears to be foreign money coming into Israel as the central bank has continued to need to intervene in the foreign currency markets. I have been buying some more Israeli stocks into the strength myself. Valuation are still cheap with respect to the U.S. market. My impression is Israelis have a lot of money to waste on real estate. Probably the Arabs will invest in the Israeli stock market before the Israelis do.

What is your impression on any change on the capital gains rules in Israel. I remember the last time they tried to change the rules the stock market tanked. As my only source of income is trading stocks and commodities, the present tax system looks awful attractive to me. If I could only get off the trading floor I would have to consider moving there. What is the rule on capital gains on foreign stocks in Israel?

I understand Israeli companies are not allowed to buy back their own shares. That would seem to be the first reform the government should make in the capital markets.

By the way do you follow stocks in any other countries?

Lloyd
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