The Palestine Exchange is difficult to understand. It's not a stretch to say that some of the companies listed could be gone in an instant. The exchange itself was set up to deal with such matters, but the listed companies, not so much.

The Tel Aviv Exchange isn't what it used to be (on lots of levels). It used to trade on rumor and there was a bit of insider trading back in the day. Previously, many Israeli companies would have listed on the TAE and then, maybe, migrated to the NASDAQ. Such a move was a big deal back then. I remember explaining to the members of one of the investment clubs that I ran back in the 90s that such a move was good. They thought that the move should have been to the Big Board. It was this smallish pharmaceutical company no one had heard of—Teva.

The interesting one is Saudi Arabia. Some of those stocks been sitting around like some of the Kenyan banks were 5 years ago. There's some good values to be unlocked there. On the other hand, valuing banks in Islamic countries is something I haven't yet mastered. Ditto for insurance. There are other exchanges too, not listed on this screen. Did you know there's an Iraqi exchange? I thought it a joke when a friend mentioned this to me last month. He claims that the returns have been pretty good. I think, though, it may be more like the Palestinian Exchange, where the company disappears physically rather than financially in an instant. Maybe by the end of February, I'll have finished a deep dive. It's not as though there can be that many companies to survey.


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