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40 2016 6 20 26 30 32

2016 2015 2016 Peer to Peer 2015 2016 RSM Even better 4 6 10 14 16 18 20 22 24 26 28 30 32 facebook com grouprint www bankautpratit co il 3

HACK T HACK CAR T T T 4

15 pembrolizumab 30 30 70 Loncar Cancer Immunotherapy ETF CNCR 5

10 12 2015 Seritage Growth Properties SRG 90 Fairhome Capital Management Citadel 6 Wharton real estate review 1 90 1992 1997 Equity REIT 13 10 128 2 80 10 2 7 8

3 4 Co Star Red Capital Analytics Argus 5 REIT CMBS 2009 30 CMBS 7

2008 CDOs Collateralized Debt Obligations AAA 90 1 2 20 8 Preferred Equity 3 20 2006 2008 IRA 4 5

2016 2016 2 4 0 25 2016 3 4 1 7 2016 0 3 10 1 2 5 6 6 5 6 5 2015 stoxx600 12 12 2015

buy back 2015 5 2016 3 5 2015 2016 30 3 6 25 2015 75 16 3 5 Baa 4 1 high yield high yield 8 6 10 11

2016 Fitch high yeild 4 5 2016 11 1 5 BB 6 6 4 5 75 10 0 1 2015 3 4 12 market neutral market neutral 03 06 6100 01 13 12 2015 10 Senior loans

HOMY Home staging HOMY 053 2265537 homyisrael gmail com WWW HOMY ISRAEL CO IL

RSM 1 10 2015 1 18 17 1 1 2016 1 5 26 5 25 8 18 OECD 25 26 5 25 OECD 1 01 1 1 1 17 01 01 1 1 01 1 17 14 1 1

OECD 1 5 23 OECD OECD 15 19 25 24 27 2009 5 RSM 15

Home Bias 6002 00 6000 60 00 0 CDS 5 Home Bias 2006 10 2011 20 30 OTC Over Over TheThe Counter OTC 2 6 Counter 1 CDS 3 600 5 16

220 9 1 5 0 65 2 2014 274 20 3 2 4 ETF ETF 5 6 S P BBB AAA A BBB 17

AT1 50 000 1 HY 1AT 2 00 000 3 HY 1 2 3 18 2002 2002 2008 2009 PERPETUAL FLOATERS 3 AT1 3

PERPETUAL FLOTERS 3 1AT 3 AT1 5 7 1 2 5 2008 5 5 125 7 19

2015 2015 61 2014 20 2015 2013 2014 25 5 8 1 724 1 489 1 10 15 1 574 19 11 15 10 0 1 7 8 30 25 5

2015 2015 Buy and Hold 2015 21

eLife 22

Tracense Nature Communication 144 3000 Tracense ature Communication 3 Tracense 411 T N T 0333 23

DJD Degenerative joint disease OA Osteoarthritis 24 1 2 3 4 5 www doctor t co il

PROFIMEX 47 17 PROFIMEX 3 000 45 PROFIMEX 2008 12 93 Arnada Pointe 19 000 000 11 2 27 1 15 5 24 9 4 280 000 Castro 17 000 000 15 17 7 5 700 000 Monterey 91 500 000 14 5 29 7 2 870 000 Legacy Heights 47 500 000 3 500 000 0 9 7 7 7 4 4 4 4 10 1155 www profimex com profimex profimex com PROFIMEX PROFIMEX 25

forced heirship 650 2012 17 2015 clawback 21 habitual residence 22 26

forced heirship heirship forced heirship forced 17 2015 Treaty on European Union Treaty on the Functioning of the European Union forced heirship 40 1965 1 2 clawback 27

Ahmad Lahawri Ustad 28

170 73 7 1630 33 0000 Aurangzeb 1666 1607 www gilihaskin co il 1612 29

Even Better Ofir Abe 911 400 430 30 15 911 8 GPS

2015 2016 4 000 5 000 www ptravels co il 180 911 2 760 1905 2011 Even Better 31

Mursi 8 Dasenach Karo 2000 32

Niangatom Hamer oshik tehuda co il 052 3573715 33

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