Viop L

[*Bozkurt]

sen büüle yazınca aklıma geldi, dönerse ekime dönmezse kasıma bi analez yapayım.
3169 dan döner büyük ihtimalle, zaten şunun şurasında ne kaldı, sık dişini

[pelerin]

sen büüle yazınca aklıma geldi, dönerse ekime dönmezse kasıma bi analez yapayım.
3169 dan döner büyük ihtimalle, zaten şunun şurasında ne kaldı, sık dişini

Ben uzun vadeciyim, keşke düşse derim ama benim dememle olmuyor. Global bir kriz olmadığı sürece eşyanın tabiatına aykırı o seviyeler.

[ariston]

Bir analist BBHT'de kredi satışlardan dolayı dedi, aracı kurumlarda faizler yükselmiş kredi açmakta isteksizmiş. Alacak olan en 6 ay vade ile alsın dedi.

[theosos]

Ben uzun vadeciyim, keşke düşse derim ama benim dememle olmuyor. Global bir kriz olmadığı sürece eşyanın tabiatına aykırı o seviyeler.

25 yıllık süreçte 8 liradan 0.40'a düşen hisselerin bu son dönemde 40 üstüne çıktığını oradan da bu son düşüşte 20'lere indiğini görmüş biri olarak borsada her şey mümkündür...

Borsanın şerefs.zi çoktur...

[cash_is_king]

JP Morgan'ın son raporundan:

With elections coming on 14/28 May (1st/2nd round), we look at two scenarios
(link) of post-election policy as laid out by our Economics/FICC strategy
teams where their “strong commitment to policy orthodoxy� generates 74%
upside in MSCI Türkiye in USD terms but their “modest return to orthodox
polices� generates 29% downside. In line with the FX and rate changes envisaged
in the two scenarios, from a top-down equities view, we expect a big re-rating in the Strong Commitment case from 4.6xPE to 9.2x PE but still a 35% discount to
EM and no re-rating in the Modest Return case. The key drivers of equity returns
are FX and PE re-rating. We remain Neutral on Türkiye in our CEEMEA and EM
equity allocation. For investors looking at the upside, we would position in key
domestic sectors – banks and staples as well as Koc Holding, a diversified hold co.
The push-pull on equities will be the potential downside from a weaker TRY,
which is inevitable according to our FICC team, versus the potential upside of re-rating EM’s cheapest market, which is only likely with a Strong
Commitment to orthodoxy . Türkiye trades on 4.6x 12m fwd consensus PE on the non-financials and c2x for the financials. Should Türkiye stick to orthodox macro
policies, we think it should trade a) closer to its median PE over the last 15 years
and b) narrow the discount to EM. When we compare Turkish stocks to EM sector
averages, the median discount in the 2010’s was 28%, then 46% in the last 15 years
and is 65% now. Stocks would double if the discount reverted to the average of the 2010s. Meanwhile, the recent jump in trading volumes makes Türkiye liquid
enough even for the biggest GEM funds - its 5% of CEEMEA market cap and 40%
of trading volume with the MSCI stocks trading $1.4bn ADTV.
Positioning: Foreign ownership of the stock market has fallen sharply in the last the four years from >60% to only 29%. Looking at EM funds positioning,
we see that Türkiye is still in the middle of the EM pack in terms of OW and UWs
– at least comparing it to other small (i.e. sub-2%) EM markets. Pushing foreign
equity ownership back to 50% would mean c. $15-20bn FX inflows.

[lemur]

yuzde 20 civarı dusmus endeks bence maliyet dusurme adına yavastan topa girilebilir

[ariston]

Dün cumhurbaşkanı Kılıçdaroğlu'nun arkasında mekanizma var demişti, operasyon yapmak istiyorlarmış.

Serdar Akinan da kamudaki Çerkez ekip mevcut ekibe operasyon yapmak istiyor diyordu.

İktidar savaşlarında borsa karambole gidiyor.

Bugünün programı
>>>
14:30 Rize Mitingi (15 Temmuz Cumhuriyet ve Demokrasi Meydanı)

17:30 Yeni Zigana Tüneli Açılış Töreni (Meydan Parkı/Trabzon)

[cash_is_king]

Aynı rapordan:

We can also look at re-rating potential in the Turkish market by
looking at the valuation gap between local stocks and EM sector
indices – we find substantial upside between key local stocks in
banks and consumer staples and EM: BIM has 115% upside, Akbank
65% and CocaCola Icecek 133%. We show the charts of BIM,
Türkiye’s biggest cap food retailer when most EM markets have food
retailers, and Akbank, Türkiye’s biggest index weight bank, when
most EM markets have banks. Putting the PE gap back to the longterm
average – and remember the long-term average include a
prolonged period of de-rating – puts the market up 65%-133%, that is
in the range of the 74% upside we could see in the Strong
Commitment scenario.

Put Akbank or BIM on their EM sector average PE and the
stocks would more than double. And CCOLA would more than
triple. We can even see in the charts below there were periods when
Türkiye traded at par with or a premium to EM. Türkiye should be a
highly desirable EM stock market: strong demographic growth, nearshoring
beneficiary with its EU FTA, a good record of corporate
governance and high return companies. While it’s not our base case,
we think it’s a long-term bull case we would not dismiss out of hand
either.

The median discount of the Turkish stocks versus their respective
EM sector is 65% now – it was 45% on average in the last 15
years and 28% in the 2010s. The de-rating is a good explainer for
Türkiye’s long-term poor performance. Reversing that de-rating
offers an obvious route to outperformance. More orthodox monetary
policy should narrow the discount between Türkiye and its EM peers.
Flipping that median 65% discount back to the 28% discount of the
2010’s implies the market should more than double (108% upside),
while moving back to the 15-year average implies 57% upside –
that’s either side of the 74% of the upside in our Strong Commitment
scenario.