Economy on strong footing as recovery gains steam.
Tel Aviv — A year ago if you were a star lawyer looking for a position with an Israeli firm, chances are it would have been a waste of time. As the U.S. economy swayed in financial crisis, companies stopped hiring.
What a difference a decade makes.
In 1998, when Philadelphia attorney Clifford Goldstein wanted to cash in on the staggering increase in Israeli technology stocks, he was disappointed to discover that no index-based mutual funds of Israeli companies existed.
“Wall Street is slow,” Goldstein says, noting that top brokerage firms he approached “told me they didn’t want to invest in kibbutzniks growing oranges.”
Israel needs your money but save the tzedaka, says the board chairman of a new Israeli mutual fund that will invest exclusively in Israeli companies.
"Israel does not need charity, only investments," said Shlomo Eplboim of the Blue and White Fund (the colors of the Israeli flag), set to debut Dec. 31.