Word: hatikvah
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Dates: during 1960-1969
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...idea for an Israeli mutual fund originated with Michael Haft, a 39-year-old Israeli economist sent to the U.S. to plead for investment funds at parlor meetings. Haft did not like the unbusinesslike approach. Says he: "The time has come to stop singing the Hatikvah [Israel's anthem] to raise a dollar." Instead Haft settled on mutuals, hoped that $10 million might be raised. He took his idea to Boston Movie Exhibitor Lawrence Laskey, who had large holdings in Bonds of Israel and was equally tired of parlor meetings. Impressed, Laskey bypassed Jewish-controlled investment houses to avoid...