Prominent Israeli Financier Calls Opposition to 'Wake Up' and Act
Translated & summarized from Calcalist by baba
Roni Vermus, co-founder of Israel's largest hedge fund Nokad Capital, urged opposition supporters to shift from criticism to active engagement in a rare political Facebook post. He criticized prevailing pessimism and defeatism, advocating for concrete actions like volunteering, donating, and voting. Vermus encouraged supporters to persuade others to oppose the government, concluding with a confident "We will win." This follows a similar political statement made by hedge fund Psagot in March 2023 regarding the judicial overhaul.
The story in 5 lines · by baba
- Roni Vermus of Nokad Capital called for active opposition engagement beyond criticism.
- He urged supporters to volunteer, donate, vote, and persuade others to oppose the government.
- Vermus criticized pessimism and defeatism within the political camp he identifies with.
- Nokad Capital manages over 10 billion shekels and is Israel's largest hedge fund.
- This follows a similar political statement by hedge fund Psagot in March 2023.
Roni Vermus, a co-founder of the prominent Israeli hedge fund Nokad Capital, broke his usual silence on political matters with a Facebook post urging opponents of the current government to move beyond criticism and engage in active participation ahead of elections. Vermus, who previously served as CEO of Psagot, stated that while he rarely posts politically, the current situation necessitates action. He expressed concern over what he described as pessimism and a defeatist attitude within the political camp he identifies with, noting a tendency to analyze, explain, and criticize rather than act.
Vermus specifically called out the prevailing sentiment of "why we won't win the elections," attributing it to defense mechanisms aimed at lowering expectations to avoid disappointment. He cited common criticisms, such as questioning the actions of figures like Yitzhak Eisenkot, Ronen Manelis, Naftali Bennett, and Yair Golan, and lamenting the complexity of the political landscape.
To counter this, Vermus proposed a series of practical steps for supporters: donating money or time, volunteering, engaging in dialogue with those holding different views, being active on social media and at demonstrations, attending political gatherings, and voting. He also encouraged them to persuade acquaintances who do not support the opposition to refrain from voting for their rivals.
"Less criticism. Less defeatism. Less explanations for why it's impossible. More responsibility. More optimism. More action," Vermus wrote, concluding with a confident declaration: "We will win."
Nokad Capital, co-controlled by Vermus and Shlomi Bracha, is estimated to manage over 10 billion shekels, largely benefiting from last year's significant market surge. It is believed to be Israel's largest hedge fund. Vermus led Psagot as chairman from 2006 to 2010.
This is not the first instance of a significant entity from Israel's hedge fund industry taking a clear political stance. In March 2023, Psagot, another major and established firm in the sector, issued an unusual letter to its investors warning that the judicial overhaul constituted, in its view, an "event with a high probability of material consequences for the local economy and the order of our lives." At that time, Psagot's main fund managed approximately $1 billion.