There is an editorial piece in the Jpost today written by someone who is now moving back to the US, after giving up on living in Israel. I feel badly that his absorption didn’t go well, and that he feels the need to leave Israel, but I question the newsworthiness of this op-ed. After all, almost 20,000 new immigrants from North America have settled in Israel since he came, and the overwhelming majority of them are doing fine. Why not print an editorial about that?

His article is full of excuses. ” We’re lucky if there’s even one other English speaker in ulpan, making it hard to study and practice.” He wasn’t provided the tools to learn Hebrew, get a job…etc. no question that we live in an society that demands instant gratification, but give me a break. I never took classes to learn Hebrew. You learn a foreign language by immersing yourself in it. Not by some government sponsored course.  I cleaned toilets in order to make enough money to pay the rent, and sometimes I took a job outside my realm of expertise in order to survive. I think that my story is very common for people who have come to live in Israel.

At the end of his article, he takes a pot-shot at Nefesh B’Nefesh, the organization that has revolutionized the entire Aliyah( immigration) process. If NBN is guilty of anything it’s that they have made it so easy to move to Israel, that many olim no longer get the full ‘Israeli’ experience. this is hardly a problem. To say that because of NBN less secular Jews will move to Israel, is not factually based. If secular Jews make up 40-50% of all new western immigrants, and immigration from North America is at record levels, than that means thousands and thousands of secular Jews are moving to Israel, out of choice, and also choosing to stay.

To the author, my deepest regrets that your absorption didn’t go the way you wished. To the Jpost, how about sticking to articles that have a bit more relevance to the general population. To potential western Olim, Israel is a great place to live!

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While the northern part of Israel is perhaps the most aesthetically beautiful part of the country, the region has long been neglected by policy makers. We have often heard about the need to develop the Negev in the southern part of Israel, but we never hear about government plans to make the north a more viable place to live, and encourage relocation to some of those cities.

Why? Because governments aren’t the best at planning and that’s an understatement. Leave it to the private sector and it’s amazing how things get done. Yesterday, news that the Aliyah organization Nefesh B’Nefesh along with the support of the Russell Berrie Foundation of Teaneck, NJ, is launching the ‘Go North’ project, to encourage Anglo Olim (new immigrants) to settle in Northern Israel, is a huge step in the right direction.

“Building on Nefesh B’Nefesh’s ongoing success in bringing Western Jews on Aliyah, this initiative will generate momentum by creating a strong support system serving as a catalyst for expansion of the Jewish communities in the North for years to come,” said Angelica Berrie, President of the Russell Berrie Foundation. “Go North will enable modern day pioneers to fulfill their dreams by moving to a region of Israel that is less Westernized and needs the skills, talents and energy they will bring. We see strengthening the North as a vital strategic priority,” she continued.

This is truly amazing. I can’t tell you how many people I know say that they would love to move to the North but can’t because they can’t find a job, or some of the social services they need are lacking. Aside from building up the North, this project will help disperse the concentrated Israeli population away from the center of the country. This in itself has all kinds of benefits, from better air pollution, less traffic, and just flat out giving people more space.

Kudos to Nefesh B’Nefesh on launching this important project.

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Aaron Katsman
IsraelNewsletter.com

The amazing 80’s group ABC once asked a question about financial planning. They asked, “Tell me! tell me! How to be a millionaire?” According to fresh data, the answer may just be to come live in Israel. There used to be a not so funny joke that went like this. ” How do you become a millionaire living in Israel? You come to Israel with $2 million!” Hah Hah! I told you it’s not such a funny joke.

According to the 12th annual World Wealth Report issued by Merrill Lynch and Capgemini, ” the number of the country’s millionaires grew by 13.6 percent in 2007, more than double the global millionaires’ growth rate of 6%, to a total of 8,200.”

That’s a pretty impressive growth rate, and the fact that it’s double the global growth rate speaks volumes as to the Israeli economic revival that has taken place over the last 5-6 years. The opportunities to  create wealth in Israel abound, whether in hi-tech, real estate or even in industry (Click here to see a great video on Investing in Israel) . And those opportunities are not lost on foreign investors. It would be an interesting to see how many foreigners have become millionaires or multi-millionaires by investing in Israel.  With the amount of foreign investment that has been flowing into Israel,  I suspect that that number must be pretty high as well.

If you are an investor and looking at new frontiers to invest, you need to take a serious look at investing in the holy land. If you are thinking about moving to Israel with an organization like Nefesh B’Nefesh, you should feel confident that there are plenty of economic opportunities, and that the old joke about coming with $2 million no longer applies.

Disclosure: Author’s fund has no position in any stock mentioned as of 6/26/08.

Please see our Disclaimer HERE.

NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.

Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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Aaron Katsman
www.IsraelNewsletter.com  

I would like to start by taking this opportunity to wish my wife, Yael “Nefesh B’Nefesh” Katsman, a belated happy anniversary. Our anniversary was actually yesterday, and NO I didn’t forget, we had a tasty dinner, I just didn’t mention it in the blog. Give me a little credit.

The big news of the last 24 hours is the intervention in the currency market by the Bank of Israel (BOI). Yesterday afternoon in after-market trading the Shekel/USD rate fell to approximately 3.34. Then came the news that the BOI was intervening for the first time in more than a decade, and that send the greenback back up more than 1.5%. Today, the BOI announced more intervention, and that is helping the dollar even more. Local media reports have said that the BOI wants to get the exchange rate back to at least 3.60, which is about 4% high than today.

Why the sudden move by the BOI? The shekel has been the second strongest currency in the world YTD, and the impact on exporters has been huge. Losses continue to mount for them, and the BOI needed to do something.

This move could have profound impact on some Israeli stocks that trade in the US. Companies like Alvarion (ALVR), Nice Systems(NICE), Amdocs(DOX), all do R&D in Israel and their expense lines have increased due to the strength of the shekel. The recent BOI intervention could potentially have positive ramifications on earnings for these companies.

Disclosure: Author’s fund holds a position in ALVR, NICE and DOX. He has no position in any other stock mentioned as of 3/14/08.

Please see our Disclaimer HERE.

NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.

Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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