A Best Bet For Investing In Israel

Except for troubled financial institutions, it's hard to find stocks selling below book value anymore. That's why some pros are looking at PEC Israel Economic, a U. S.-based holding company that invests in an array of Israeli industries, including high technology, banking, construction, and shipping. PEC Israel, which trades on the American Stock Exchange, has run up about 45% so far this year. Yet at its recent price of $19.50 a share, the stock sells at a 16% discount to its stated book value of $23.28.

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