Moshe Mizrahy,

 CEO of medical aesthetics company InMode, is also concerned: "As a large company, our business is unchanged but we definitely feel a change in atmosphere. Our suppliers are asking us questions and we have no answers. These days, when I attend industry conferences, Israelis are kings of the market. Maybe that will change."

Mizrahy notes that the main investors in the Israeli companies traded on Nasdaq are North American funds, and not the public. "Recently, the Norwegian sovereign wealth fund withdrew its investments in Israel, though that was in protest against the settlements, and not the legal reform. But if American funds adopt the same approach, it could snowball."Judicial reform is mainly an internal affair. Why should it bother the American investor?

Eckhouse: "Uncertainties about a legal system pose a risk to investment. A legal system is responsible for the inviolability of private property. An independent legal system can prevent nationalization, it can prevent the government from demanding the banks provide information about private accounts.