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Jewish Federation of Chicago Avoids Israeli Investments
Reported: 13:16 PM - Jun/07/07
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(IsraelNN.com) A writer for the Globes Israeli business news website said Thursday she was “stunned” to read in an investment publication that a Jewish organization in the U.S. had avoided investing in Israeli stocks, while losing money due to an investment with a firm later convicted of conspiracy and fraud.
Laura Goldman quoted several sources in her report on the Jewish Federation of Metropolitan Chicago, which lost more than $4 million of their donors’ money from investments with the Bayou hedge fund.
Cliff Goldstein, president of the Amidex Israel 35 fund, also noted that the mammoth Jewish organization had chosen to keep its money mostly in America. “There is $22 billion controlled by the Jewish Federation,” he said. “They might have $25,000 invested in Israeli stocks by accident. Even worse, the Federations are investing in the stock markets of countries that are enemies of Israel like Egypt, Malaysia and Indonesia.”
Laura Goldman quoted several sources in her report on the Jewish Federation of Metropolitan Chicago, which lost more than $4 million of their donors’ money from investments with the Bayou hedge fund.
Cliff Goldstein, president of the Amidex Israel 35 fund, also noted that the mammoth Jewish organization had chosen to keep its money mostly in America. “There is $22 billion controlled by the Jewish Federation,” he said. “They might have $25,000 invested in Israeli stocks by accident. Even worse, the Federations are investing in the stock markets of countries that are enemies of Israel like Egypt, Malaysia and Indonesia.”
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