ECO PORTFOLIO
PUBLISHED ON 14TH OF JUNE

Ecobay Investment B.V.

§ PERSONAL PORTFOLIO







Digital version
http://ecobay.blogspot.com



Name; Omer Faruk Ozbasaran
S.number; 20034187(1ibms-6)
E-mail; o.f.ozbasaran@ecobayinvestment.nl
E-mail2; o.f.ozbasaran@hotmail.com





INDEX

§ Part 1 (introduction)
1.1.Introduction of ecobay investment
1.2.the assignment to be made
1.2.1 Report of investment(intro)

§ Part 2 (planning)
2.1 Which stock markets.
2.2 introduction of the stock markets
2.3 Which shares?
2.4Why chosen this shares.
2.4.1 Some additional information of Research and Development departments innovations etc.of these companies(each company)


§ Part 3 (projection of shares)
3.1 Projection of the stable shares $700.000,-
3.1.1 Caterpillar corp.
3.1.1.1 Financial position
3.1.1.2 Graphic
3.1.1.3 Profits-losses
3.1.2 Microsoft corp.
3.1.2.1 Financial position
3.1.2.2 Graphic
3.1.2.3 Profits-losses
3.1.3 Bayer AG
3.1.3.1 Financial position
3.1.3.2 Graphic
3.1.3.3 Profits-losses
3.1.4 Klimasan ltd.sti.
3.1.4.1 Financial position
3.1.4.2 Graphic
3.1.4.3 Profits-losses


3.2 Projection of the changed shares every week $300.000,-
(week 1) 3.2.1 Garanti Bank
3.2.2 Bank Asya

(week2) 3.2.3 Borusan AS
3.2.4 Anadolu Isuzu


(week3)3.2.6 Siemens Turkiye
§ Part 4 (macro economic indicators)

§ Part 5 (summary)

§ Part 1 (introduction)


1.1.Introduction of ecobay investment


Ecobay investment B.V. is found in Netherlands by a student while he was studying business.

In generally an investment company is;
Firm that invests the pooled funds of retail investors for a fee. By aggregating the funds of a large number of small investors into a specific investments (in line with the objectives of the investors), an investment company gives individual access to a wider range of securities than the investors themselves would have been able to access. Also, individual investors should be able to save on trading costs since the investment company is able to gain economies of scale in operations.




1.2.the assignment to be made


While the founder of the company was studying he got an assignment from his lecturer.

First year assignment eco-2 portfolio

Start with 1 million U.S. dollars artificial capital . Buy min. 5 max. 10 companies on any stock exchange market in the world (Wall Street, U.S.; AEX Amsterdam; DAX, Germany paris,london,madrid, china etc etc.) .In between from week to week you have to sell minimum 2 companies and buy other companies however one company (chosen by your goodselves and related to the activity of yr business-plan project) is going to stay permanent in your portfolio. That company you make a simple marketing plan for in terms of their marketing management process and its strategic plan (if the company is too big u can choose to make the marketing plan for a subsidiary-(daughter) company or for one of the brands that they are carrying .
On top of that you describe the impact of developments in the financial markets on your company. That description is based on the economic concepts you have learned. (e.g. interest, inflation,recession, unemployment, productivity,demand,supply,economic growth, currencies,oil etc).
Stock prices of the companies are followed from week to week by registrating the closing price of the shares every friday.
-Week by week a description on the economic development (as explained above) of the financial markets and the impact that that has had on your share prices plus changes in yr stock portfolio. This is handed in to me every week. A copy is kept by yourself and these are later on added as appendix in the final report. Also these are included as appendix in yr final report.





Guidelines project/individual assignment Eco- 2 Portfolio

In your report you need to discuss and answer the following issues and questions:

1 Choose 5-10 companies, give some (financial) background information and explain shortly why you have chosen these companies.

2 Give background information of the stock market(s) you have chosen and explain why you trade on this specific stock market

3 Give a structured overview of the development of the changes in prices from week to week of the shares you have bought for the whole period.

4 Describe the financial situation of the company that is related to the activity of yr business-plan project and that stays in your portfolio permanently (short analysis of costs/revenues, profit prospects, innovations, investment in R&D, foreign investments etc., make a short desription of the company in terms of the marketing management process.).

5 Choose at least five macro-economic indicators and explain how they influence the stock market in general and your portfolio in particular.

6 At the end of the period you need to give a short summary of how the macro-economic indicators have influenced the developments of the prices of the shares you have bought.

7 Summarize your findings and give a short conclusion.




NOTITIONS OF INVESTMENT


Ecobay investment B.V.
This assignment has to be completed in 3 weeks (approximately 21 days)
2 april 2006-24 april 2006
Amount ; $1.000.000 with the help of www.marketwatch.com














§ Part 2 (planning)

2.1 Which stock markets.

ü DAX (Xetra DAX)
Germany/Frankfurt
ü DJ (Dow Jones)
USA/New York
ü ISE (Istanbul stock exchange)
Turkey/Istanbul








2.2 introduction of the stock markets


Why Turkey?
Turkey is a growing emerging market.And the hope of the Turks of being a participant of the European Union makes the atmosphere profitable in short terms.

ISTANBUL STOCK EXCHANGE is the only securities exchange in Turkey. It is a dynamic and growing emerging market with an increasing number of publicly traded companies, state-of-the-art technology and strong foreign participation. The ISE provides a transparent and fair trading environment not only for domestic participants, but also for foreign issuers and investors.

DJ (Dow Jones)
It is an organization of more than 7000 well educated full-time employees, dedicated to pursuing excellence in all of Dow Jones operations. In fact, the people of Dow Jones are at the center of the world stocks. Many big companies in the world prefers to investigate by using Dow Jones stock index because of ots Dow Jones name has been synonymous with accuracy, Integrity and trust.


DAX (Xetra DAX)
The Frankfurt exchange, best known for its blue-chip stock index called the DAX, is one of the world’s most profitable equity markets for its owners. But it does a fraction of the volume of the New York Stock Exchange, the world’s largest equity market, which lists more than 3,000 companies with a combined market value of $12 trillion.






2.3 Which shares…
stable shares

ü Caterpillar corp.(Dow Jones) $200.000
ü Microsoft corp. (Dow Jones) $200.000
ü Bayer AG (Xetra Dax) $100.000
ü Klimasan ltd.sti. (ISE) $200.000

Variable shares first week WEEK 1 $300.000
ü Garanti Bank (ISE)
ü Bank Asya (ISE) *NEW
Variable shares second week WEEK 2 $300.000
ü Borusan (ISE)
ü Anadolu Isuzu (ISE)

Variable shares third week WEEK 3 $300.000
ü Siemens Turkiye (ISE)

TOTAL AMOUNT OF INVESTMENT $1.000.000






2.4Why chosen this shares.



Caterpillar


"Caterpillar's reputation for making a difference in the world is something we are proud of as a company—and as individuals. Whether it's caring for the safety of our fellow employees, improving the communities in which we live and work, or sustaining the environment we all share, Caterpillar people are fully committed to and engaged in good corporate citizenship. We are doing well by 'doing good' all around the world." - Jim Owens, Chairman & CEO

Why Caterpillar?(comments from the investor)

Makes large range of construction, agricultural, and forestry equipment, medium speed engines. Also Caterpillar is expecting sales agreement with the Indian Mittal steel company. This gives the firm many opportunities for making big profits. Caterpillar is also making good connections with many big manufacturing companies in the industry field for heavy transport materials. The last decennia shows us that China, India, Indonesia and Brazil shows us also that there is a big gap in globalizing of heavy transport machines.

Caterpillar is not only investing in machineries but they are also very active in textiles, energy and banking industry.
This is what gives caterpillar many opportunities in making profits. And that’s why Ecobay Investment B.V. has turned its objectives to this company.

Research and Development

"In the course of new product development, Caterpillar is awarded hundreds of patents each year that could be useful to other companies. has a necessary critical mass of organizations and technologies in our related industries to make an Internet marketplace for intellectual property licensing successful. This alliance will allow Caterpillar to put useful technologies to work in real products, with the added benefit of creating income for Caterpillar." -- Rennie Atterbury, Caterpillar's vice president and general counsel























Microsoft



The company said the plan for the one-time payout depends on shareholder approval of adjustments in employee stock plans to compensate them for the fact that a company's share price declines immediately after such a large one-time payout.

Microsoft is also busy with its new software program Windows Vista 2007 and Office 2007.

Why Microsoft?(comments from the investor)

Chosen for low risk but still could be surprising because of the new Origami Project which has been shown in the Cebit (the world's largest computer and information technology fair in Hannover/Germany)

Research and Development
Microsoft Research has grown from its 1991 founding as a small division into an entity that now employs about 700 researchers on five campuses: Redmond, San Francisco, Mountain View, Calif., Cambridge, England, and Beijing. Researchers — computer scientists, psychologists and even architects — are working on projects that cover more than 50 areas ranging from teaching a computer to recognize speech to studying how people in online communities relate to one another and exert peer pressure to encourage certain behaviors.

Microsoft Research is a potent weapon for the software giant in a time of economic distress for many technology companies. As many other companies are shrinking their research and development budgets in the prolonged economic downturn, Microsoft is raising the stakes. The company plans to spend more than $5 billion this fiscal year on research and development — although a minority of that is spent on Microsoft Research.








Bayer AG


"Bayer is committed to create sustained
value for its shareholders.
We want to convince through performance as well
as open, fair and honest communication."

Werner Wenning, Chairman of the
Board of Management of Bayer AG


Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Their products and services are designed to benefit people and improve their quality of life. At the same time they want to create value through innovation, growth and improved earning power.


Why Bayer AG?(comments from the investor)

Because Bayer AG is an very interesting company these times. Last there were many causes which effects the importancy of pharmaceutical companies. The bird flue which was a dangerous menace declared by the United Nations. Many pharmaceutical companies tries to find a solution for the bird flue. Because this manece influences the whole world and gives pharmaceutical companies an opportunity to make huge profits and even though that the competitors would find an pharmaceutical solution for the bird flue it would also give the opportunity to make profit for all pharmaceutical companies.

Research and Development and Innovation
t Bayer, individual researchers and scientists are the leaders in the drug discovery and development process. Their expertise and experience lends insight and vision to the research that ultimately turns molecules into medicine.

Disease causes change on a cellular level, producing substances within the body-mainly proteins-that can be identified as targets for future medicines. Drug development begins with these single proteins-the building blocks of the human genome. Scientists can focus on specific proteins from the outset of their research, eliminating inefficiencies and accelerating the pace of innovative drug development.

Bayer scientists work with state-of-the-art technology in facilities located in the world's research and development epicenters. This means access not only to the best equipment, but also to the best minds in the pharmaceuticals field. This translates into a pipeline of innovative therapies that are rapidly maturing. Now, better drugs can be available faster.

Key research partnerships and licensing agreements with leading research companies complement Bayer's core expertise. Together, Bayer and its partners develop products that are helping people everywhere.

Klimasan LTD






To be a company which provides the best quality and priced solutions for preserving and/or displaying food and beverage products in the most healthy and tasteful way; which values customer, employee and shareholder satisfaction as its highest priority; which is a leader in both Turkey and globalmarkets. .

To establish long-term business partnership with our customers, whom we consider the main reason for our company's existance and activities; and to create value for them by providing the best cooling and freezing solutions that will help them fulfil their needs to market their products or store their goods in the most efficent way.

BRIEF HISTORY
· Established as a small trade house in 1915,
· Started manufacturing commercial refrigerators under Senocak brand name as an industry pioneer in 1955 ,
· Re-established in 1969 under the name Klimasan A.S., and began to manufacture commercial type coolers and freezers ,
· Modernisation of the plant carried out and completed in 1993,
· Started to produce 100% CFC Free Products in 1996,
· The total Plant area increased to 30.900 m2 with an additional 15.000 m2 land in 1997,
· In August 1997 30% of shares were quoted to Istanbul Stock Exchange Market (IMKB) for all domestic and foreign investors.

Why Klimasan? (comments from the investor)

Klimasan is an very exciting company for making big profits. But big opportunity to mage huge profits brings the possibility of making big losses together.
Political climate effects the shareprices of Klimasan . This is why Klimasan is very interesting. Because the political atmosphere in Turkey is very strong and the hope of trading in the EU(European Union) makes it extra fun.

INNOVATION..
Klimasan will invest TL 8 trillion 893 billion in quality enhancement and upgrading.
CEO, Nacif Gule











§ Part 3 (projection of shares)
3.1 Projection of the stable shares
3.1.1 Caterpillar corp.
3.1.1.1 Financial position

















PERIOD ENDING
31-Dec-05
31-Dec-04
31-Dec-03
Total Revenue
36,339,000
30,251,000
22,763,000
Cost of Revenue
26,558,000
22,420,000
16,945,000

Gross Profit
9,781,000
7,831,000
5,818,000


Operating Expenses

Research Development
1,084,000
928,000
669,000

Selling General and Administrative
4,145,000
3,650,000
2,991,000

Non Recurring
-
-
-

Others
-
-
-



Total Operating Expenses
-
-
-





Operating Income or Loss
4,552,000
3,253,000
2,158,000




Income from Continuing Operations


Total Other Income/Expenses Net
377,000
204,000
35,000


Earnings Before Interest And Taxes
4,929,000
3,457,000
2,193,000


Interest Expense
1,028,000
750,000
716,000


Income Before Tax
3,901,000
2,707,000
1,477,000


Income Tax Expense
1,120,000
731,000
398,000


Minority Interest
-
-
-




Net Income From Continuing Ops
2,854,000
2,035,000
1,099,000




Non-recurring Events


Discontinued Operations
-
-
-


Extraordinary Items
-
-
-


Effect Of Accounting Changes
-
-
-


Other Items
-
-
-





Net Income
2,854,000
2,035,000
1,099,000

Preferred Stock And Other Adjustments
-
-
-



Net Income Applicable To Common Shares
$2,854,000
$2,035,000
$1,099,000





3.1.1.2 Graphic










3.1.1.3 Profits-losses









3.1.2 Microsoft corp.
3.1.2.1 Financial position


Financials (Microsoft corp.)
Quarterly (Mar '06)
Annual (2005)

Income Statement(in millions of USD)
EXTRA ******
Total Revenue
10,900.00
39,788.00
Gross Profit
8,872.00
33,588.00
Operating Income
3,846.00
14,409.00
Net Income
2,977.00
12,254.00

Balance Sheet(in millions of USD)
Total Current Assets
46,628.00
48,737.00
Total Assets
66,854.00
70,815.00
Total Current Liabilities
18,367.00
16,877.00
Total Liabilities
24,816.00
22,700.00
Total Equity
42,038.00
48,115.00

Cash Flow(in millions of USD)
Net Income/Starting Line
2,977.00
12,254.00
Cash from Operating
4,563.00
16,605.00
Cash from Investing
833.00
15,027.00
Cash from Financing
-5,135.00
-41,078.00
Net Change in Cash
268.00
-9,453.00



(******)
MICROSOFT CORP. INCOME STATEMENT
View: Annual Data Quarterly Data
All numbers in thousands

PERIOD ENDING
31-Dec-05
30-Sep-05
30-Jun-05
31-Mar-05
Total Revenue
29,928
27,780
11,663
16,162
Cost of Revenue
70,113
839,387
37,979
2,550,263

Gross Profit
(13,276)
45,935
146,421
78,719


Operating Expenses

Research Development
808,003
49,464
170,599
55,170

Selling General and Administrative
31,720
-
2,499
286,608

Non Recurring
-
-
-
-

Others
-
-
-
-



Total Operating Expenses
-
-
-
-





Operating Income or Loss
4,657,000
40,321
263,796
50,184




Income from Continuing Operations


Total Other Income/Expenses Net
-
506,000
872,000
496,000


Earnings Before Interest And Taxes
85,385
36,512
58,167
44,018


Interest Expense
-
-
-
-


Income Before Tax
85,385
36,512
58,167
44,018


Income Tax Expense
45,518
1,411,000
161,000
1,262,000


Minority Interest
-
-
-
-




Net Income From Continuing Ops
100,907
44,652
217,233
273,053




Non-recurring Events


Discontinued Operations
-
-
-
-


Extraordinary Items
-
-
-
-


Effect Of Accounting Changes
-
-
-
-


Other Items
-
-
-
-





Net Income
100,907
44,652
217,233
273,053

Preferred Stock And Other Adjustments
-
-
-
-



Net Income Applicable To Common Shares
$100,907
$44,652
$217,233
$273,053
























3.1.2.2 Graphic

3.1.2.3 Profits-losses







3.1.3 Bayer AG
3.1.3.1 Financial position

BAYER AG. FINANCIAL POSITION
All numbers in thousands

PERIOD ENDING
31-Dec-05
31-Dec-04
31-Dec-03
Total Revenue
32,432,425
40,601,815
35,871,582
Cost of Revenue
17,797,979
23,716,001
21,138,454

Gross Profit
14,634,446
16,885,814
14,733,128


Operating Expenses

Research Development
2,233,778
2,874,791
3,031,260

Selling General and Administrative
9,641,016
12,641,166
11,801,069

Non Recurring
(36,716)
(1,139,274)
1,806,952

Others
-
-
41,438



Total Operating Expenses
-
-
16,680,719





Operating Income or Loss
2,796,368
2,509,132
(1,947,591)




Income from Continuing Operations


Total Other Income/Expenses Net
(726,037)
(628,988)
440,751


Earnings Before Interest And Taxes
2,070,331
1,884,236
(1,536,977)


Interest Expense
-
590,785
1,225,563


Income Before Tax
2,070,331
1,293,451
(2,762,540)


Income Tax Expense
544,824
402,498
(932,985)


Minority Interest
2,369
4,093
(15,068)




Net Income From Continuing Ops
1,527,876
890,953
(1,814,487)




Non-recurring Events


Discontinued Operations
43,823
-
-


Extraordinary Items
-
-
-


Effect Of Accounting Changes
-
-
-


Other Items
-
-
-





Net Income
1,571,699
890,953
(1,814,487)

Preferred Stock And Other Adjustments
2,369
-
-



Net Income Applicable To Common Shares
$1,574,068
$890,953
($1,814,487)






3.1.3.3 Profits-losses
3.1.3.2 Graphic







3.1.4 Klimasan ltd.sti.
3.1.4.1 Financial position (annual DATA)
View: Annual Data Quarterly Data
All numbers in thousands

PERIOD ENDING
31-Dec-05
31-Dec-04
31-Dec-03
Total Revenue
4,268,492
3,200,765
2,219,237
Cost of Revenue
2,390,977
2,001,223
1,613,150

Gross Profit
19,877,515
16,199,542
606,087


Operating Expenses

Research Development
-
-
-

Selling General and Administrative
640,684
486,564
431,833

Non Recurring
-
-
-

Others
-
-
-



Total Operating Expenses
-
-
-





Operating Income or Loss
1,236,831
712,978
174,254




Income from Continuing Operations


Total Other Income/Expenses Net
136,926
150,591
24,765


Earnings Before Interest And Taxes
1,465,691
914,681
221,504


Interest Expense
147,367
121,500
483,622


Income Before Tax
1,318,324
793,181
(262,118)


Income Tax Expense
407,397
281,360
(477,285)


Minority Interest
24,335
7,466
3,558




Net Income From Continuing Ops
910,927
511,821
215,167




Non-recurring Events


Discontinued Operations
-
-
-


Extraordinary Items
-
-
-


Effect Of Accounting Changes
-
-
-


Other Items
-
-
-





Net Income
910,927
511,821
215,167

Preferred Stock And Other Adjustments
-
-
-



Net Income Applicable To Common Shares
$12910,927
$511,821
$215,167





3.1.4.2 Graphic
3.1.4.3 Profits-losses

3.2 Projection of the changed shares every week $300.000,-
(week 1) 3.2.1 Garanti Bank
3.2.2 Bank Asya

(week2) 3.2.3 Borusan AS
3.2.4 Anadolu Isuzu


(week3)3.2.6 Siemens Turkiye




3.2.1 Garanti Bank
(week1)

Why Garanti?
Investors expect that Garanti Bank will be bought by the greek banking corporations. The meaning of this gives investors in Turkey the feeling that the trading in the European Union is more guaranteed.

$250.000
total profit made by Ecobay investment B.V. à %2.36
total profit à$5900




3.2.2 Bank Asya
(week1)

Why Bank Asya?
Bank Asya is a very interesting company. Bank Asya has just arrives in the Istanbul Stock Exchange and there is many interest from Islamic (d-8) countries. It is a banking company for Islamic investors.

$50.000
total profit made by Ecobay investment B.V. à -%0.23
total loss à$115




3.2.3 Borusan AS
(week2)

Why Borusan AS?
Borusan AS is expecting the distribution rights of MINI and Volvo , still they have the monopoly of distributing cars in Turkey.


$200.000
total profit made by Ecobay investment B.V. à %4.68
total profit à$9360




3.2.4 Anadolu Isuzu
(week2)

Why Anadolu Isuzu?
Anadolu Isuzu wants to reveal its new model van and has made an agreement with Warsav (Poland) for delivering busses

$100.000
total profit made by Ecobay investment B.V. à %1.25
total profit à$1250






3.2.6 Siemens Turkiye
(week3)

Siemens AG is the main company of the Siemens Group. The Turkey department of this company has the name Siemens Turkiye.

There are now many discussions about the capacity of the innovation power of the Turkish Department of this company. On 2 February 2006 Siemens AG and BEN-Q made an collaborated mobile phone development department. It is possible that Siemens Turkiye gets this job.

Producing a mobile phone in Turkey makes the Turkish and foreign investors thinking. It can be surprising.


$300.000
total profit made by Ecobay investment B.V. à %0.86
total profit à$2580





Part 4 (macro economic indicators)

Macro-economic indicators are used to monitor the level of economic growth in an economy for further analysis. In order to respond to in-house requirements for macro-economic analysis, preparation of country briefs and regional, global and continental summaries, a database on selected macro-economic indicators








COMMENTS FROM THE INVESTOR

Businesses are affected by developments in the world economy as never before. The effects of economic change are felt by firms as the plan for the short and long-term. But the best firms plan in increasingly sophisticated ways. This section looks at how some businesses make use of macro-economic data to optimise the effectiveness of their decision-making.
Effective analysis of economic developments means a three-stage process where the firm:
· identifies the general impact of change on businesses
· narrows the analysis to the firm's operating environment
· only then, focuses in on the impact on the firm itself.
An identical macro-economic change can have radically different effects on different companies.
Let's illustrate this by referring to just one aspect of the macro-economy: economic growth itself:
The principal macro-economic indicator is to most analysts and planners the level of economic growth. Confidence among consumers and businesses tends to be stronger during periods of growth, of course. Company profits tend to grow more rapidly at these times; household incomes tend to rise, with resulting positive effects on consumer spending; and, because of the strength of corporate and consumer confidence, longer-term investment and expenditure plans tend to be brought forward or initiated.
But note the use of the phrase, 'tend to'...
The relationship between economic growth and consumer spending, or business profitability is not inevitable. Certain sectors of the economy are more closely linked to changes in economic growth than others. So-called 'pro-cyclical' firms and industries benefit from higher income elasticities of demand. The effect of this is that these firms and industries often experience faster growth in demand for their products and services, than occurs in the overall economy.
So, economic growth is one of the most important elements of macro-economic change. Can you identify some of the others?
Top of Form
Bottom of Form

UNITED STATES OF AMERICA
Gross National Product (GNP) and Gross Domestic Product (GDP)Growth Rate
Gross National Product:LATEST: 6.5% (3rd Qtr 2005)HIGH: 7.4% (4th Qtr 2002)LOW: 0.5% (4th Qtr 2001)
Gross Domestic Product:LATEST: 4.1% (3rd Qtr 2005)HIGH: 6.4% (1st Qtr 2004)LOW: 1.3% (1st Qtr 2001)
Source: National Statistical Coordination Board (NSCB)

Inflation RateJanuary 2003 to May 2006 (2000=100, in percent)
Headline Inflation RateLATEST: 6.9% (May 2006) HIGH: 8.6% (Dec 2004)LOW: 2.8% (Jan 2003) Core Inflation RateLATEST: 6.1% (May 2006)HIGH: 8.1% (Feb 2004)LOW: 2.4% (Mar 2003)
Source: National Statistics Office (NSO)

Unemployment RatEJanuary 1985 to January 2006 (in percent)
LATEST: 8.1% (Jan 2006) /p
HIGH: 14.4% (Apr 1991)LOW: 7.4% (Oct 1996)
Source: National Statistics Office (NSO)

Exports and Imports March 2006 (Freight on Board (FOB) value in million US$

ImportsLATEST: US$ 4,138 M (Mar 2006) /p HIGH: US$ 3,680 M (Apr 2005 LOW: US$ 2,090 M (Jan 2002)
ExportsLATEST: US$ 4,126 M ( Mar 2006) /p HIGH: US$ 3,750 M (Oct 2004)LOW: US$ 2,115 M (Jan 1998)
Gross International ReservesJanuary 2001 to April 2006 (in billion US$)
LATEST: US$20.906 B (Apr 2006) /p HIGH: US$17.4 B (Mar 2002)LOW: US$14.2 B (Feb 2001)








MACRO ECONOMIC INDICATORS (eurostat countries)
(FOR EXAMPLE)

1. Balance of payments
5. Industry commerce and services
2. Business and consumer surveys
6. Labour market
3. Consumer prices
7. Monetary and financial indicators
4. External trade
8. National account



























§ Part 5 Summary
When we got this assignment I had the feeling that I was studying Economics. Because some of the courses we get are not related to us but maybe I think so.
When we started the course for economics we learned many interesting things. They showed us what an inflation is, how we must analyze the global reactions of the markets. How some companies can influence the government etc.etc.etc.

In this assignment we used to deal with making a report. Researching the companies (as a result of; short analysis of costs/revenues, profit prospects, innovations, investment in R&B and innovation of companies.



Well we got $1.000.000,- And we had the opportunity to invest where we liked to invest. I like to use adrenaline …That’s what made it very exciting. But still I wanted to invest in companies which is very safe even in stock markets which is very safe. That’s why I was centralized in developed countries.

Still I used to invest highly risk shares but I tried to be professional and not investing with feelings. However sometimes you need that also…

Well now I will show a summarized result of my invested companies and its results.



Caterpillar à $200.000à$203.340

Very interesting and exciting company.











Microsoft à $200.000à$191.100

ü I expected much more then making a loss. Because the origami-project is something what differs the company then its competitors. Origami project can replace notebooks.




Bayer AG à $100.000à$100.560

ü Was not surprising good. Its very stable.. that was actually my goal to keep an share which was stable. But still surprising because the Price-earning ratio was not very high.







Klimasan ASà $200.000à$504.300

ü Actually I am shocked by this raise in profit. I expected something interesting. But the business agreement with the Indian company has made the shareholders very happy.









week 1
Garanti bank
$250.000
total profit made by Ecobay investment B.V. à %2.36
total profit à$5900

Bank Asya
$50.000
total profit made by Ecobay investment B.V. à -%0.23
total loss à$115


week 2
Borusan AS
$200.000
total profit made by Ecobay investment B.V. à %4.68
total profit à$9360


Anadolu Isuzu
$100.000
total profit made by Ecobay investment B.V. à %1.25
total profit à$1250



week 3

Siemens Turkiye AS
$300.000
total profit made by Ecobay investment B.V. à %0.86
total profit à$2580



The macro economic indicators that effected my shares..

EXTERNAL TRADE:

The development of the far eastern countries are still affecting the external trade with big changes. Some of the developed countries are making big losses of this atmosphere and some are making profits.

Imagine that there are two bottles (empty) of 1000ml

But there is only 1000ml of water to fill in. Now the average waters in the bottles are changing. Globalization in the world begins giving us a dangerous look forward the world.

That’s why I always spread my shares in different countries.

INFLATION:
Because of this assignment is stated in short-term. There were not very different changes or my shares were not very affected by the inflation prices.

GOVERNMENT:
Turkish Government is waiting on a important decision of the European Parliament. On 20 april they will discuss about how to deal with Turkey and they will declare a definitively date of when they will go in the EU.


UNEMPLOYMENT:
In economics, a person who is able and willing to work at a prevailing wage rate yet is unable to find a paying job is considered to be unemployed. The unemployment rate is the number of unemployed workers divided by the total civilian labor force, which includes both the unemployed and those with jobs (all those willing and able to work for pay). In practice, measuring the number of unemployed workers actually seeking work is notoriously difficult. There are several different methods for measuring the number of unemployed workers, each with its own biases, making comparisons between methods difficult.

The history of unemployment is the history of industrialization. It was not considered an issue in rural areas, despite the "disguised unemployment" of rural laborers having little to do, especially in conditions of overpopulation.

The terms unemployment and unemployed are sometimes used to refer to other inputs to production that are not being fully used — for example, unemployed capital goods.


By investing in different stock markets in the world Ecobay Investment B.V. did not look up to the unemployment in t he world. On the beginning of investing we took a look into this map but then we preferred to buy shares in aggressive shares. Because
it was just a game!



$1.318.274

Name; Omer Faruk Ozbasaran
S.number; 20034187
E-mail; o.f.ozbasaran@ecobayinvestment.nl
E-mail2; o.f.ozbasaran@hotmail.com



INDEX

§ Part 1 (introduction)
1.1.Introduction of ecobay investment
1.2.the assignment to be made

§ Part 2 (planning)
2.1 Which stock markets.
2.2 introduction of the stock markets
2.3 Which shares?
2.4Why chosen this shares.


§ Part 3 (projection of shares)
3.1 Projection of the stable shares
3.1.1 Caterpillar corp.
3.1.1.1 Financial position
3.1.1.2 Graphic
3.1.1.3 Profits-losses
3.1.2 Microsoft corp.
3.1.1.1 Financial position
3.1.1.2 Graphic
3.1.1.3 Profits-losses
3.1.3 Bayer AG
3.1.1.1 Financial position
3.1.1.2 Graphic
3.1.1.3 Profits-losses
3.1.4 Klimasan ltd.sti.
3.1.1.1 Financial position
3.1.1.2 Graphic
3.1.1.3 Profits-losses


3.2 Projection of the changed shares every week
(week 1) 3.2.1 Garanti Bank
3.2.2 Borusan
3.2.3 Edip iplik
(week2) 3.2.4 Bank Asya
3.2.5 Anadolu Isuzu
3.2.6 Siemens Turkiye
§ Part 4 (macro indicators)

§ Part 5 (summary)

§ Part 1 (introduction)


1.1.Introduction of ecobay investment


Ecobay investment B.V. is found in Netherlands by a student while he was studying business.

In generally an investment company is;
Firm that invests the pooled funds of retail investors for a fee. By aggregating the funds of a large number of small investors into a specific investments (in line with the objectives of the investors), an investment company gives individual access to a wider range of securities than the investors themselves would have been able to access. Also, individual investors should be able to save on trading costs since the investment company is able to gain economies of scale in operations.




1.2.the assignment to be made


While the founder of the company was studying he got an assignment from his lecturer.

First year assignment eco-2 portfolio

Start with 1 million U.S. dollars artificial capital . Buy min. 5 max. 10 companies on any stock exchange market in the world (Wall Street, U.S.; AEX Amsterdam; DAX, Germany paris,london,madrid, china etc etc.) .In between from week to week you have to sell minimum 2 companies and buy other companies however one company (chosen by your goodselves and related to the activity of yr business-plan project) is going to stay permanent in your portfolio. That company you make a simple marketing plan for in terms of their marketing management process and its strategic plan (if the company is too big u can choose to make the marketing plan for a subsidiary-(daughter) company or for one of the brands that they are carrying .
On top of that you describe the impact of developments in the financial markets on your company. That description is based on the economic concepts you have learned. (e.g. interest, inflation,recession, unemployment, productivity,demand,supply,economic growth, currencies,oil etc).
Stock prices of the companies are followed from week to week by registrating the closing price of the shares every friday.
-Week by week a description on the economic development (as explained above) of the financial markets and the impact that that has had on your share prices plus changes in yr stock portfolio. This is handed in to me every week. A copy is kept by yourself and these are later on added as appendix in the final report. Also these are included as appendix in yr final report.





Guidelines project/individual assignment Eco- 2 Portfolio

In your report you need to discuss and answer the following issues and questions:

1 Choose 5-10 companies, give some (financial) background information and explain shortly why you have chosen these companies.

2 Give background information of the stock market(s) you have chosen and explain why you trade on this specific stock market

3 Give a structured overview of the development of the changes in prices from week to week of the shares you have bought for the whole period.

4 Describe the financial situation of the company that is related to the activity of yr business-plan project and that stays in your portfolio permanently (short analysis of costs/revenues, profit prospects, innovations, investment in R&D, foreign investments etc., make a short desription of the company in terms of the marketing management process.).

5 Choose at least five macro-economic indicators and explain how they influence the stock market in general and your portfolio in particular.

6 At the end of the period you need to give a short summary of how the macro-economic indicators have influenced the developments of the prices of the shares you have bought.

7 Summarize your findings and give a short conclusion.

















§ Part 2 (planning)

2.1 Which stock markets.

ü DAX (Xetra DAX)
Germany/Frankfurt
ü DJ (Dow Jones)
USA/New York
ü ISE (Istanbul stock exchange)
Turkey/Istanbul








2.2 introduction of the stock markets


Why Turkey?
Turkey is a growing emerging market.And the hope of the Turks of being a participant of the European Union makes the atmosphere profitable in short terms.

ISTANBUL STOCK EXCHANGE is the only securities exchange in Turkey. It is a dynamic and growing emerging market with an increasing number of publicly traded companies, state-of-the-art technology and strong foreign participation. The ISE provides a transparent and fair trading environment not only for domestic participants, but also for foreign issuers and investors.

DJ (Dow Jones)
It is an organization of more than 7000 well educated full-time employees, dedicated to pursuing excellence in all of Dow Jones operations. In fact, the people of Dow Jones are at the center of the world stocks. Many big companies in the world prefers to investigate by using Dow Jones stock index because of ots Dow Jones name has been synonymous with accuracy, Integrity and trust.


DAX (Xetra DAX)
The Frankfurt exchange, best known for its blue-chip stock index called the DAX, is one of the world’s most profitable equity markets for its owners. But it does a fraction of the volume of the New York Stock Exchange, the world’s largest equity market, which lists more than 3,000 companies with a combined market value of $12 trillion.




2.3 Which shares…
stable shares

ü Caterpillar corp.(Dow Jones)
$200.000
ü Microsoft corp. (Dow Jones)
$200.000
ü Bayer AG (Xetra Dax)
$100.000
ü Klimasan ltd.sti. (ISE)
$200.000

Variable shares first week WEEK 1

$300.000
ü Garanti Bank (ISE)
ü Bank Asya (ISE) *NEW
Variable shares second week WEEK 2
$300.000
ü Borusan (ISE)
ü Anadolu Isuzu (ISE)

Variable shares third week WEEK 3

$300.000
ü Siemens Turkiye (ISE)
ü Edip iplik (ISE)

TOTAL AMOUNT OF INVESTMENT $1.000.000


2.4Why chosen this shares.

Caterpillar


"Caterpillar's reputation for making a difference in the world is something we are proud of as a company—and as individuals. Whether it's caring for the safety of our fellow employees, improving the communities in which we live and work, or sustaining the environment we all share, Caterpillar people are fully committed to and engaged in good corporate citizenship. We are doing well by 'doing good' all around the world." - Jim Owens, Chairman & CEO

Yes but why?

Makes large range of construction, agricultural, and forestry equipment, medium speed engines. Also Caterpillar is expecting sales agreement with the Indian Mittal steel company.


Microsoft



The company said the plan for the one-time payout depends on shareholder approval of adjustments in employee stock plans to compensate them for the fact that a company's share price declines immediately after such a large one-time payout.

Microsoft is also busy with its new software program Windows Vista 2007 and Office 2007.

Chosen for low risk but still could be surprising because of the new Origami Project which has been shown in the Cebit (the world's largest computer and information technology fair in Hannover/Germany)


Bayer AG

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