Israeli army chief sold stocks hours before war

[Herman Munster]

http://www.breitbart.com/news/2006/08/15/060815194218.f081b3jj.html

Israel's army chief Dan Halutz reportedly offloaded his stock portfolio hours before the Jewish state unleashed a massive offensive in Lebanon and the stock market tumbled.

According to the Maariv daily, Halutz sold the shares at noon on July 12, three hours after two soldiers were seized by Hezbollah in a cross-border raid and as Israeli artillery began to pound the positions of the Shiite militia in Lebanon, the paper said. Israel's main TA-25 index slumped by 8.3 percent over two days from July 12.

Halutz confirmed that he sold his shares for 120,000 shekels (26,000 dollars) and said he lost 5,400 dollars in the transaction.

"It's true that I sold these shares at noon on July 12, but you can't link the transaction to the war. At that moment I did not think that there would be a war," Maariv quoted Halutz as saying.

[elliswyatt]

1. that's funny

because somehow i knew there would be a war before him! Damn, I'm smart!

[Rex]

2. Oh but we can link it to the war.

And unless there is some nefarious activity going on, I don't care what he did. It does sound strange IMO, but people buy and sell stocks all the time.