Israel Bonds: Sage Of Omaha’s Latest Investment Tip

Warren Buffett is a fan of Israel, and he’s not only saying it – he’s opening his wallet and encouraging other millionaires and billionaires to invest in the country.

According to the Jerusalem Post, Buffett will meet with fellow businessmen in New York on Thursday, pressing them to buy up to $140 million in Israeli government bonds collectively.

He owns $5 million of Israel’s sovereign debt, and he think it’s a financially lucrative and morally worthwhile business move. He’s also held previous events in his native Omaha, Nebraska to encourage Israel bond purchases.

“The purchase of Israel bonds is a sound investment and a deserved endorsement of a remarkable country,” Buffett said, according to the Jerusalem Post.

“Israel started from absolute scratch when it was established 69 years ago, and look where it is now,” he continued. “There is no other country in the world that has gone as far in such a short period… I like backing winners and am happy to own the bonds of Israel.”

Buffett’s investing advice is seen as stock market gospel, considering his record success in turning his Berkshire Hathaway firms into one of the world’s most powerful global corporations.

Contact Daniel J. Solomon at solomon@forward.com or on Twitter @DanielJSolomon