Guy Rolnik / Unwelcome truths about Israeli stocks
On the surface, the figures for the TA-25 index's performance over its 20-year existence are impressive. The underlying facts are much more disappointing.
Last month the Tel Aviv Stock Exchange published a survey of the changes that had occurred in the Tel Aviv-25, an index tracking the 25 largest-cap companies. First launched in January 1992, the TA-25 - then called the Maof - was the first index for which TASE investors could purchase options. Hence even though the index's name was changed from Maof to TA-25 years ago, players still call it the Maof, and options...
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