US already third world economy: American economist

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Will Williams
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Re: US already third world economy: American economist

Post by Will Williams » Tue Oct 29, 2013 6:32 pm

We're being "Third-Worlded," thanks to globalists, economic men like Warren Buffet who put profits ahead of loyalty to race and nation. Then he gives his ill-gotten booty to Africa rather than to his own disadvantaged kinsmen.
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Legendary Investor Warren Buffett Buys Another Israeli Company
Joshua Cohen
October 9, 2013

Anyone who has even a passing familiarity with the world of investing and finance has probably heard of Warren Buffett. If you have never heard of Buffett, the best analogy I can make is that he is the Steve Jobs of the investing world. The ‘Oracle of Omaha’ as he is frequently called has built his investment vehicle – Berkshire Hathaway – from scratch to a company worth $280 billion on the stock market.

What is interesting about Buffett is that he doesn’t only buy shares in publicly traded companies, but frequently buys the entire company itself. Once Buffett buys a company, he folds it into the Berkshire Hathaway umbrella and lets it continue to grow and operate independently.

Buffett first popped up in Israel in 2006, when he purchased 80% of privately held Iscar, which designs and manufactures machine tools and is located in the northern Israeli town of Tefen. The purchase price of $4 billion was – and remains – the largest non-US investment Buffett has ever made. He followed that purchase up by plunking down $2 billion for the remaining 20% of Iscar in May of the current year (which also meant that in the seven years as majority owner of Iscar, Buffett doubled its valuation from $5 billion to $10 billion). Buffett also purchased a 60% interest in Agrologic, an Israeli company which designs and manufacturers systems for agricultural use.

Just yesterday, Buffett purchased a third Israeli company Ray-Q Interconnect. Based in Lod, Ray-Q is primarily an electrical interconnections systems integrator and engineering firm, with a primary focus on the aerospace and military sectors (it was involved in the development of the Iron Dome and Arrow missile defense systems).

Ray-Q’s customers include firms such as Rafael, Israel Aerospace Industries, Elbit and the Israeli Ministry of Defense. Although the company only has around 60 employees in Israel, it is a good proxy for one of the two or three most important sectors of the Israeli economy.

Two things stand out about Buffett’s forays into Israel. First, although the Israeli economy is primarily known for internationally for its thriving technology sector – and deservedly so, with 5,000 tech startups in Tel Aviv alone – all three of the Israeli companies acquired by Buffett are outside of the tech sector. Iscar is a leading manufacturer of machine tools, Agrologic is in agriculture and Ray-Q’s primary business is electrical interconnections.

Second, Buffett rarely buys non-US companies, so his three Israeli acquisitions are clearly a vote of confidence in the overall Israeli economy as well as an indirect endorsement of Israel’s human capital. Indeed, in the Ray-Q acquisition as in Buffett’s previous purchases, there will be no lay-offs or redundancies and the center of Ray-Q’s operations will remain in Lod. There is really only question about Buffett’s involvement in Israel – what will be acquisition number four?!
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http://blogs.timesofisrael.com/legendar ... i-company/
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