Lehman Brothers has disappeared. Halifax in the UK was sold overnight. And in Israel?
The shops are full, as people prepare for the Jewish New Year or the end of Ramadan. Banks are still rolling in the profits. Unemployment is at a record low.
And high tech? Well I can report form own perspective. I have one client, where contracts are being drawn up re a UK investor. Another has received 2 proposals from mainland Europe.
These are not freak incidences. A colleagues told me today that an investor, who last week informed him that a project looked interesting, is about to pop over to Israel to complete the deal. And so it goes on.
I find 2 lessons here:
a) The collapse on Wall Street and elsewhere was sparked by stupidities in the mortgage market in one country (and rising commodity prices). That does not mean all global economies are rotten.
b) The Israeli market has undergone some harsh restructuring since the previous high tech dive in 1999. It will not escape unscathed. However, it still has what to offer the outside world, especially in investment opportunities. Time for a visit.