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Jul.24
3:12 PM ET
Thursday, 24 Jul 2008
Pisani: New ETF = Play on Mid-East Growth

Trader Talk blogger Bob Pisani discussed a new Middle East-oriented ETF: The Van Eck Market Vectors Gulf States Index [MES  Loading...      ()   ].

The ETF (exchange-traded fund) offers investors access to 40 companies, based in key U.S. allies Bahrain, Kuwait, Oman and the UAE.

Pisani notes that the ETF includes no oil companies, which are generally owned by these nations' governments. Instead, the ETF is largely built on financial services and construction companies -- playing the Mideast construction boom.

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Other Major ETFs:

- SPDRs [SPY  Loading...      ()   ]

- SPDR Gold Shares [GLD  Loading...      ()   ]

- UltraShort Real Estate ProShares [SRS  Loading...      ()   ]

- Financial Select Sector SPDR [XLF  Loading...      ()   ]

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