While missiles flew and tensions escalated between Israel and Iran, the Tel Aviv stock exchange pulled off a surprising rally, with one index jumping more than 8% and another index at 11% at the height of the conflict.
In a moment when most would expect a market crash, Israeli stocks moved in the opposite direction. In fact, over the past year, the Tel Aviv 125 index has delivered a remarkable 50% return for investors.
Here’s my take: in the midst of the 12-day war with Iran, one that will go down in the history books, Israel’s top indices grew nearly 12%, proving that resilience is hardwired into both the people of Israel and their markets.
Smart money isn’t “beating Israel,” especially when they’ve got the most high God behind them.
