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| Harvard University fund sells all Israel holdings |
| 2010-08-16 |
| In another blow to Israeli shares, the Harvard Management Company notified the US Securities and Exchange Commission (SEC) on Friday that it had sold all its holdings in Israeli companies during the second quarter of 2010. No reason for the sale was mentioned. The Harvard Management Company manages Harvard University's endowment. Chickens. Harvard Management Company stated in its 13-F Form that it sold 483,590 shares in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for $30.5 million; 52,360 shares in NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) for $1.67 million; 102,940 shares in Check Point Software Technologies Ltd. (Nasdaq: CHKP) for $3.6 million; 32,400 shares in Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) for $1.1 million, and 80,000 Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) shares for $1.8 million. Harvard Management Company's 13-F Form shows some interesting investments. Its two largest holdings, each worth $295 million, are in iShares ETFs, one on Chinese equities, and the other on emerging markets. Harvard also owns $181 million in a Brazilian ETF. Some thoughts: 1) Concerns about Israel's existance in the future. 2) Liberal ideas of the need to "punish" Israel for defending itself. 3) Both. I don't know the political makeup of those who run Harvard's investments. I suspect #1 myself because I know enough about Teva to be able to say it kicks butt, and has/is coming out with one-of-a-kind drugs. |
| Posted by:gorb |
| #9 Actually, Harvard did NOT disinvest in Israel : Israel was rated in May as an Emerged Economy Makes sense. Thanks for the update, Shieldwolf. I believe S Korea and Chile emerged similarly a fwe years back,a nd would likewise have forced automatic sell signals for multi-million $$ Emerging Market portfolios like HMC's |
| Posted by: lex 2010-08-16 18:43 |
| #8 Actually, Harvard did NOT disinvest in Israel : Israel was rated in May as an Emerged Economy, and so certain Israeli stocks were sold. Harvard has a set amount of stock that must be invested in emerging economies, and once Israel emerged, some stock had to be sold. Harvard's stock investment council put the emerging markets requirement in place, so they are to blame. |
| Posted by: Shieldwolf 2010-08-16 18:38 |
| #7 Well with the stock market game being so rigged by insiders it's not really worth playing. Short to Zero a bankrupt banking system, get screwed by your own taxpayers money! Listen to the central "bank" lying about deflation risks whilst inflation rips... I'm just straddling and hoping I can jump out the way with as much of my savings as I can. Return OF Capital, not Return ON capital. |
| Posted by: Bright Pebbles 2010-08-16 12:16 |
| #6 Strike's a certainty, yes. Wonder whether Harvard Mgmt CO are loading up on oil futures? |
| Posted by: lex 2010-08-16 10:29 |
| #5 Then again, it's Harvard, and they've made some spectacular mistakes with their endowment since the crash. Which indicates that the 'best and brightest' aren't. |
| Posted by: Procopius2k 2010-08-16 09:28 |
| #4 A link from Instapundit suggests that there may be less than meets the eye here: Teva, etc have been severely underperforming in the markets this year, so it makes sense to unload them. Then again, it's Harvard, and they've made some spectacular mistakes with their endowment since the crash. |
| Posted by: Steve White 2010-08-16 09:15 |
| #3 Tsk, tsk, tsk, the masks are slipping. |
| Posted by: g(r)omgoru 2010-08-16 08:42 |
| #2 Well, Harvard just got itself another enemy. Thank you Harvard for stabbing Israel in the back at our moment of need. I just hope that 10 years from now when Irani nuclear warheads rain on the US , the first warhead drops on Harvard. Whether I will be around to watch this or not is another question. |
| Posted by: Elder of Zion 2010-08-16 06:27 |
| #1 You forgot #4 gorb. Plausible deniability plus #1. In the event of war, the cowards want to be able to say, "PLEEEEEEase don't bomb Cambridge, see, we're not supporting Israel". Tells me that this conflict is a virtual certainty. Perhaps this is the October Surprise Hillary Clinton was overheard referencing. |
| Posted by: no mo uro 2010-08-16 04:04 |