Thursday my portfolio ended higher, which is surprising in a day when the Fatah (the devil we know) lost the Palestinian elections to Hamas (the Muslim Brotherhood). All over the developing world fundamentalism is taking over and it is now in our very doorstep. I owe the growth in value of my holdings to Teva, which is a global corporation untouched by local politics, and Aaura which continues its upward trend (already I made 150% riding on it) and Igud which I bought this morning.
Igud was among the 5 recommendations of Leviatan, the guru of the Walla forum on Globes. I liked Igud because it is a small bank, like those being swallowed in the current privatization and reorganization of Israel's financial sector. Its stock exchange value is near to its book value, which is much less than the real worth of its real estate and banking licence. It has a high p/c rate, which is meaningless because the bank is so badly managed that it was losing money only two years ago. It is owned by an insurance company, and professional management shall turn it profitable in no time, in line with the banking sector of this country.
Leviatan said buy warrants, but I am not a TASE tiger and bought the share. It went up 4.5% till the end of the day, which is remarkable for these day of political bad news. The warranty went up 20% !
The guru said sell at the end of the day, but again, I am unable to sell such a good instrument. I wonder if the guru is a member of the Leviatan family, famous math professors and corp directors. He certainly seems to have a very good mind. Tomorrow I shall buy more Igud.