First Israel Fund (ISL)

Description:

I started with First Israel Fund (ISL), the only Israel-centered mutual fund I'm aware of, and its components. Then I looked at Israel stocks traded as ADRs on the NYSE. The most familiar names to US investors are Teva Pharmaceutals (TEVA) and Checkpoint Software (CHKPF). Some of the companies, like Koor and Magal, have been around for close to 60 years, since the founding of the state.

When anyone asks Cramer about Israel stocks he mentions Nice Systems (NICE), at least as of July 20, 2007.

Israel is a well developed financial market, with a lot of high tech companies (cellular, wireless, security, CAD/CAM). Some of them I think are relics from the dot com bust, but not all.

Israel, amazingly, has a strong currency. The shekel recently hit a 6 year high against the dollar. This is amazing to me because Israel for the first 50 or so years of its existence had been known for currency devaluations. The first Israeli currency, the pound, in 1947 was pegged to the British pound. The currency was hammered so much it was called the lira. But that's history.

Article at: http://www.fonerbooks.com/israel.htm on how to invest in Israeli stocks.

Article at: http://www.the-global-guru.com/offers/customoffer.php?id=SEO001&alert=36&gclid=CKTX6qb9g4wCFQMLVAodNFDbzA
about the possible rewards of Israeli stocks with market liberalization under the Likud.

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