Sunday, August 30, 2009

One of Israel's largest corporation went broke today

Lev Leviev: Our main mistake was to invest in the US

Africa-Israel's share plunged 25.5% today.

1 comments:

Ronduck said...

One commenter expected US real estate to drop 90% in price, excluding the Obama Effect.

I think the same thing happened in Japan during their Lost Decade, but I haven't studied the subject.

I wish this hadn't happened to Africa-Israel though. Maybe their investments in Russia will pay off, even if they end up in the hands of other (Israeli) owners.