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מגזין יוני 2017

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2011 40 2017 4 34 10 190 14 22

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3 4 6 69 20 21 2017 10 12 14 190 Kappa Real Estate RSM 5 16 18 20 21 22 24 26 28 30 34 www bankautpratit co il 3

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2016 15 27 2015 2016 4 4

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52 000 65 000 42 000 2008 1 20 0 5 10 4 8 http alrov tau ac il wp content uploads 2017 03 Index Summary_DB_170307 pdf http www vanleer org il he publication 5

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3 100 0 7 2 2 5 4 6 1 5 2 MSCI emerging markets 15 4 5 2017 4 1 2016 2016 2017 2 8 3 3 2018 83 S P500 13 5 9 7 6

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17 5 5 75 6 S P500 7 2017 20 Thompson Reuters PMI 12 5 2015 2016 20 35 35 3 45 90 17 5 10 2 3 2 TIPS 1 8 3 5 Baa 3 6 high yield 4 5 65 3 7 high yield 7

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3 9 2 06 2 59 5 23 6 20 60 2 9 3 95 0 94 1 32 9622 2017 CLO 25 63 9622 8 CLO 13 05 2017 Senior loans

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15 25 1 190 2 106 2016 3 60 35 4 60 5 15 25 6 34 056 2017 75 75 190 1 15 15 25 2 15 8 360 2017 15

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Kappa Real Estate Section 8 Housing Choice Vouchers Section 8 vouchers PHAs Public housing agencies U S Department of Housing and Urban Development HUD 50 75 30 Voucher 16 2 90 70

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HUD Section 8 1 2 3 4 5 6 7 Section 8 1 2 3 Section 8 054 2376933 17

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RSM 2016 25 30 2 803 520 2016 1 2 18 3 1 1 2 3 4 25 2016 2 1 2 3

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867 4 5 6 7 2016 RSM RSM RSM Game Ready Game Ready Game Ready Game Ready Game Ready 6 450 Game Ready Game Ready 97 2014 88 98 052 3612447 www gameready com

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5 5 Plant Physiology Biotechnology for Biofuels 500 5 100 30 2015 1942 20 400 20 000

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PTSD Molecular Psychiatry 42 8 21

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2 fake news 2 orgold1213 gmail com 22

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AWARENESS OF SUSTAINABILITY IS GROWING BUT WHICH BRANCHES WILL FLOURISH MOST Discover our approach at juliusbaer com visionary thinking Julius Baer Financial Services Israel Ltd is licensed by the Israel Securities Authority and provides its clients with investment marketing and portfolio management services in Israel and overseas The Tel Aviv Representative Office of Bank Julius Baer Co Ltd is supervised by the Swiss regulator and is not subject to the supervision of the Supervisor of Banks at the Bank of Israel Bank Julius Baer Co Ltd Tel Aviv Representative Office 46 Rothschild Blvd Tel Aviv Tel 972 0 3 6039111 Fax 972 0 3 6039444

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54 82 04 44 Embedded Python DevOps 100 90 45 28 40 10 15 50 2 Python Embedded DevOps 24 80 70 60 50 40 30 20 10 0 2011 NHT 2011 HT 2010 NHT HT NHT 2010 HT 25 34 2009 NHT 2009 HT 35 44 2008 NHT 45 54 2008 HT 2007 NHT 2007 HT 55 64 45 54 08 12

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100 21 yoram atidot co il 25

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SIERRA NEVADA 3093 U Zu Mate 1890 420 1300 13 26 1990 100 3 093 ARCH ROCK 610 MOUNT LYELL 4 000 75 220 25 1 300 Miwok 19 1833 1851 60 19

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MARIPOZA GROVE 1890 Yosemite Valley 11 1 6 13 3 U 1500 Merced 1 LOWER YOSEMITE FALL UPPER YOSEMITE FALL 740 2 BRIDALVEIL 190 600 3 MIRRO LAKE HAPPY ISLES NERADA 181 VERNAL 97 4 GLACIER POINT 41 6 5 5 MRIPOZA GROVE WAWONA 6 HALF DOME 27

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Jamie Wyeth Boat Time 1976 29

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1951 1986 1992 2012 IAC 35

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2011 www bankautpratit co il