Category Archives: Finance

Eurozone Crisis

European Union is an economic and political union or confederation of 27 members which are located in Europe. EU is an also monetary union but as currency based not 27 members are joint the union. A monetary union, the eurozone, using a single currency comprises 17 members. Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Spain are the members of eurozone.

During 2010-2012 period, Eurozone crisis stated in worldwide news and it’s effect on global economies. Global economies effected from Eurozone crisis because eurozone countries export many goods and services around the world and during the recession period, importers face difficulties about those goods and services which are provided from eurozone countries. Eurozone crisis erupt with Greece, which create reactions worldwide. After Greece, Spain, Italy and Ireland faced with crisis but it never effect these two countries’ economy like Greece. This crisis is about sovereign debts and it’s really hurts economies like Greece, Italy, Spain, Iceland which are not powerful as Germany, England and France. But what happended during a globalization period to Greece and other countries, which faced with great recession in their economies’? The European Sovereign debt crisis has resulted because of the many factors and I will state them with my opinions.

The European sovereign debt crisis has resulted from a combination of complex factors like followings:

1) Easy credit conditions during the 2002-2008 period that encouraged high-risk lending.
2) International trade imbalances exist.
3) Real-estate bubbles that have since “burst”!
4) Slow economic growth in 2008 and later
5) Fiscal policy ( G, T ) choices related to government revenues and expenses.
6) Approaches used by nations to bailout trouble banking industries and private sectors

The causes of the crisis begins with the great increase in savings available for investment during 2000-2007 period when the global pool of fixed income securities increased from $36 trillion in 2000 to $70 trillion by 2007. With savings people do not consume and keep economy alive. High interest rates cause saving which hurt eurozone economy. As I stated in 3rd factor of european sovereign debt crisis, real-estate bubbles that have burst, I will give an example about that. For instance, Ireland’s banks lent the money to property developers, generating a massive property bubble.

When the bubble burst, Ireland’s government and taxpayers assumed private debts. In Greece, the government increased it’s commitments to public workers in the form of huge generous pay and pension benefits. Iceland’s banking system grew and creating debts to global investors. In European Union, single country’s manner effect the others like contagion effect. There the contagion is not like the sickness but it’s like “financial contagion”. In my opinion as a union, it’s not have to be political or monetary union, every single manner that members of that union create will effect the others and at the beginning of the making being union decision, members or union makers consider this factor. Yes, in EU there is “financial contagion” exist. For instance, in October 2011 Italian borrowers owed French banks $366 billion. Should Italy be unable to finance itself but the French banking system and economky could make pressure which effect France’s creditors and so on. The “financial contagion” is not remain limited in European Union. As I stated at the beginning of my essay, many European countries export goods & services.

With respect to foreign trade and globalization, this financial contagion effect importers ( from EU ). France export goods and get $578,400 million, Italy earn $522,000 million, Belgium earn $332,000 million and Greece earn $26,640 million. But these “millions” fly away with crisis and importers also effected from EU crisis.

Eurozone leaders have agreed to a strong set of rules that will limit their governments “structural” borrowing to only 0,5% of their economies’ output each year. It will also limit their total borrowing to 3%. In 1997, they agreed the same 3% borrowing limit, when the euro was being set up. But, Italy was the worst offender about limiting it’s borrowing by 3%. It regularly broke the 3% annual borrowing limit. But actually Germany was the first big country to break the 3% rule. It’S really interesting that Germany break the rule as a big country because initially Germany present 3% borrowing limit rule but it break it fastly. About 3% limit, the table below shows us countries contribution of this “crime”.

Europe’S economic geography also effect the Eurozone crisis. Averape GDP per capita is not same even approximately around the European Union. Countries monetary policies and as Eurozone show themselves like “great economies” but the reality is not same as they stated in papers or economic reports. Europe highly centralised in terms of economic activity. For instance Western Germany, Benelux, N.E. France and S.England has high GDP but there is also “peripheries” exist. They have high poverty, high youth unemployment and we cannot expect from them huge developments in term of economic activity. An I firmly believe that Eurozone monetary policies are not fixed for periphery regions and this manner obviously cause crisis. Income distribution even more uneven at regional level. In 2002 GDP per capita in Luxembourg was 207% of EU average and in Bulgaria 29% of EU average. With these variables it’s obvious that economic, specifically GDP balance is not exist between EU countries and strong economies like Germany, France and England are damaged from poor economies like Greece, Slovakia, Ireland etc.

As I stated in complex factors of the European sovereign debt crisis, international tarde balance is the cause of crisis. Financial Times journalist Martin Wolf have stated that the root of the crisis was growing trade balances and I really agree with him. From 1999 to 2007, Germany had a considerably better public debt and fiscal ( Government and tax factor ) deficit relative to GDP than the most affected Eurozone memebers. In some period, these countries ( like Portugal, Ireland, Italy and Spain ) had negative balance of payments positions. Trade imbalance, loss of confidence, monetary policy inflexibility and rising government debt levels are the main causes of Euro-zone crisis but the basic factor is “trade imbalances”. From following table I can determine current account imbalances in EU. As we can see Germany and Netherlands have great current account imbalances in terms of EU countries.

To sum up whole variables that I stated during the paper, the worst effected country from crisis in Eurozone is Greece. It has €0.4 trillion foreign debt ( Italy: €2.8 billion, Portugal: €7.5 billion, France: €41.4 billion, U.S.: €6.2 billion, U.K.: €9.4 billion, Germany: €15.9 billion ). An economist, Zderek Kudina states that “European union only takes action after the facts. They only address a situation when it has already become a problem”. In my opinion Mr. Zderek Kudina absolutely right because a few year ago we even don’t know anything about Greece economy’s weaknesses. Europe’s finance ministers on 9 May 2010 to approve a rescue package which is worth €750 billion aimed at ensuring financial stability across Europe by creating the European Financial Stability Facility ( FSF ). European countries nowadays make agreements or create bailouts for rescuing Eurozone but it’s too late for creating packages for weak economies. The most important point for Europe’s recovery package has to focus on “trade imbalances” and balance of payments situation in term of whole European union countries. 17 members of EU using Euro (€) currency but they don’t know anything about eachothers spendings but nowadays EU policy makers states that Greece and other critical economies ,which can collapse, have to report their transactions every three months to other members. It’s obvious that if there is 17 different fiscal policies exist, financial crisis will erupt. In my opinion for saving Eurozone countries from crisis, these 17 countries have to create a fiscal policy which can reflect the whole economic situation to eachother. Germany, England and France can understand the economic situation from those variables which are tated in new fiscal policy of weak economies. And the most interesting point is Germany’s manner. Germany as leading country, they want to limit their governments “structural” borrowing to just 0.5% of their economies’ output a year and they take a limit for 3% total borrowing but they disobey the rule. As storng economy,Germany and France cannot help other EU countries as a leader because they have high level of total debt ( stated in the graph below ).

I have an assumption about recovering Eurozone from crisis. With respect to simple GDP formula,

Y= C + G + I + (X – M) if Greece increase it’s government spending, GDP will also increases. In United States, during 1929 economic crisis for rescuing U.S. from recession govenrment increased it’S spending for instance with building new bridge. In my opinion Greece and other bad economies’ govenrments can make expenditures to make better off their economies.

As concequences fixing trade imbalance problem, creating new fiscal policy which reflect whole situation in eurozone countries and making fiscal policy choices related to government revenues and expenses are important factors for recovering Eurozone from crisis.

International Trade Concepts

With respect to globalization, international trade rates rising every year all over the world. Asia, America, Australia and Middle East countries are trading with eachother, considering that their economic welfare and evaluating their countries’ gains.If a country choose trading some goods and services with eachother, there have to be some advantages. In economics there exist many models, theorems and assumptions about methods of world trade. But when economists evaluate problems or events about world trade, they may prefer to use Adam Smith’s theory which is called absolute advantage theory or they may prefer to use David Richardo’s comparative advantage theory. Both theories are include different assumptions. For evaluating these assumptions, economists try to find the basic causes about international trade.

If a country join international trade adventure, it’s citizens can reach many goods and services which are not producing or serving in their country or they can reach these services with paying lower prices with respect to international trade. But how are they choosing these countries that they are going to import goods and services (or they can export goods and services)? Considering countries’ advantages and interests, with using classical economists’ theories, we can use absolute advantage theory and comparative advantage theory. These two trade theories include one important concept which is called specialization. For instance, U.S. and China not trading with eachother and they use their resources and labours inefficiently.

If they choose one specific trading unit and try to specialize on that good or service, they will have more benefical production and they will use their resources efficiently. Specializing means that one country become expert of some goods and services. Instead of producing other goods and services which are diminishing resources and effecting labours negatively, with international trade and basically with specialization market will become more efficient and both countries will be better off. Specialization has some disadvantages and some advantages. Effecting scale positively, learning quality of production and using resources more efficiently, less change with over costs and there will be exist comparative advantage if we considering advantages of specialization.

But like every concept specialization has disadvantages. Duplication problems are exist with specialization. The fear of dependency lead to duplication and may be under-investment. Also this concept has disadvantages about motivation problems. For instance, specialization causes motivation and coordination problems with respect to countries’ welfare.
First, let’s start determine that what is the absolute advantage and how it works. Adam Smith who is a Scottish social philosopher and a pioneer of political economy, he has determined that if a country has greatest relative efficiency on producing a good or service, that country has absolute advantage on that good or service. Using resources, determining prices of goods and services and getting high profit from a good or from a service is depends on the level of production’s quality and the producer’s ability of specializing on specific goods and services.

In the market, many firms producing same goods and services with different prices. Price differences are exist with respect to high or low level of costs, number of labours and other firms’ production quality ( because of competition).

The ability of specializing, a country can start to produce one specific good or service with using it’s resources efficiently. If there exist two countries, and these countries are using same amout of resources about producing same goods we have to look the results of production, amout of outputs. If inputs amounts are same and outputs are different, producers of more product has absolute advantage. This means that a country has same amount of resources like other country and high amount of product than other country, first country is more productive than others. So specializing in producing one specific good or service provide absolute advantage.


İnternet üzerinden yapılan satışlardan haberdardık. Ancak bu gün firmalarla müşteriler arasındaki ilişki neredeyse tamamen internet üzerinden sağlanarak satışlar yapılıyor. “E-commerce” olarak bilinen bu ticari mekanizma günümüzde girişimcilerin ilgisini çekiyor. Tahim edileceği gibi “zaman değişiyor” ve bu süreç ile birlikte belki de alışveriş merkezleri alım-satım yaptığımız mekanlar olmaktan çok, boş zaman aktivitelerimizi gerçekleştirdiğimiz yerler arasına girmekle yetinecekler.

Amazon, Chapters, Ebay, Bol, Markafoni, Morhipo, Grupfoni, Şehirfırsatı gibi daha ismini yazmadığım birçok internet sitesi aracılığıyla, ihtiyaçlarınızı piyasadaki fiyatların aksine çok daha düşük ücretler ödeyerek giderebiliyorsunuz. İndirimli menüler, piyasada az bulunan giysiler, fiyatı oldukça yüksek olan çantalar, ülke sınırlarındaki yüksek vergilerden dolayı satın alamadığınız ancak internette ikinci elini gördüğünüz teknolojik cihazlar gibi birçok seçeneğe e-ticaret sayesinde sahip olma imkanınız var!

Her yeniliğin avantajlı taraflarının yanında dezavantajları da göze çarpar. Öncelikle e-ticaret yoluyla satın alma, ürün satma eylemlerini gerçekleştirirken sizi ne gibi avantajlar bekliyor?

-Öncelikle piyasadaki fiyatlar sizi o üründen uzaklaştırdıysa, ürünü görmüş olduğunuz internet sitesindeki cazip fiyatlarla ihtiyacınızı ( ya da isteğinizi ) giderebilirsiniz.

-İnternetten gerçekleşen birçok alım-satım eylemi sonunda eğer üründe bir hata, bozukluk varsa iade etme hakkına sahipsiniz. Kimi zaman ticari işletmelerden almış olduğunuz hatalı ürünü iade etmeniz güçleşirken, e-ticaret sayesinde böyle bir sorununuz kalmıyor!

-Piyasada nadiren bulunan bir kitaba ihtiyacınız var ancak bir türlü satıldığı yeri keşfedip, ona ulaşamadınız! İdefix, Amazon gibi sitelerden kitabı bulabilirsiniz. Söz konusu e-ticaret sitesi talep ettiğiniz kitabın yayın eviyle irtibata geçerek talebe göre basım işleminin gerçekleşmesini sağlar!

-Yapmış olduğunuz online alışverişlerin istatistiklerine sahip olan internet siteleri, ilgi duyduğunuz ürünler hakkındaki yenilikleri, gelişmeleri, kampanyaları size haberdar edebilir!

-Bir işletme kurmaksızın öğrenci, ev hanımı, emekli vs. Bile olsanız satmak istediğiniz ürünü e-ticaret siteleri aracılığıyla satabilirsiniz!

-Merkez-şube-depo ilişkisi ortadan kalkıyor! Bu günlerde çoğu firma yetkilisi satışlarını yalnızca internet aracılığıyla yapacaklarını ve şubelerden vazgeçip yalnızca depoları kullanacaklarını bildiriyor.

Şimdi de bu sitelerin olumsuz taraflarını inceleyelim.

-Alım-satım işlemini gerçekleştirdiğiniz ülkenin sunucuları çeşitli ve güvenilir değilse maddi zarara uğrama durumunuz söz konusudur. Sunucu güvenliğiyle ilgili olarak ülkelere göre
çıkarılan istatistikleri aşağıdaki tablodan görebilirsiniz. Sunucuların mevcut altyapıları sitelerin güvenilirliğini işaret etmekteyken, alıcı ve satıcıların siteye olan rağbetini de etkileyen bir faktördür. Örneğin Amerika’da yer alan bir e-ticaret platformunun bir sunucusunun yalnızca 4000 nüfusu var. Bu demek oluyorki yoğun tıklanma oranlarına karşı sitede meydana gelebilecek olumsuz bir durum en aza indirgenmeye çalışılıyor. ( Sunuculara verilen önem ve sunucuların güvenilirliği ülkelerin gelişmişlik düzeyleriyle de ilişkilidir ).

-Söz konusu siteleri kullanan nüfus mevcut işletmelere ilgi göstermeyerek somut piyasa değerlerini olumsuz yönde etkileyerek iç pazara ilgi göstermeyebiliyor. Türkiye’yi baz alırsak esnaf kavramı e-ticaretten olumsuz yönde etkilenen taraf oluyor.

-E-ticaretle ilgilenen kişilerin dışında kalan meslek gruplarının değerini yitimesi ve işsizlik oranlarının artması durumu söz konusu olumsuz durumlar arasında yer alabilir.

-E-ticaret sebebiyle ülkelerde “üretim toplumlarının egemenliği” yerine “tüketim toplumlarının egemenliği” söz konusu olabilir.
Globalleşmeyle birlikte e-ticaretin olumlu ve olumsuz yönlerinin artacağı tartışılmaz bir gerçek olsa da bu hıza ayak uydurmayı başarabilecek insan topluluklarının var olup olmayacağı merak konusu..

Wealth & Profit

The foundation of financial management involve 5 basic principles of the economics. These principles are the followings:

1) Cash Flow is What Matters

2) Money has a time value

3) Risk requires a reward

4) Market prices are generally right

5) Conflicts of interest cause agency problems

These 5 basic concepts make countries’ or individuals’ financial statements better off.

As a student of finance you have to know foundations of financial movements. First of all you have to know that a firms, which need financial knowledge, basic

goal is to maximize shareholders wealth. For maximizing shareholders wealth we have to adjust security prices etc. If you increase price of a

common stock you also increase or maximize shareholders wealth directly. You may heard “maximizing” word from your economics or math


We were use this structure mainly for maximizing firms’ PROFIT! But right now you have to forget about it because we are considering just “maximizing

shareholders wealth”.

But why we didn’t choose pofit-maximization?

For the firms well being and with respect to basic principles of the economics we need knowledge of time frame,

reliable calculations of profit, we have to consider risk and timing of cash flows. Instead of considering these concepts profit maximization ignores them and it

can also manipulate the profit. Modern approach about finance is that, to maximizing the wealth. The wealth maximization approach is concerned with the

amount of cash flow generated by a course of action rather than the profit.

Let’s determine benefits of maximizing shareholders wealth. First, current resources used by firms efficiently because of the competition. Whole firms try to

produce more and qualify products, and earn huge profits but basicly for maximizing their wealth, they try to use their inputs efficiently. Second point is that,

they make good corporate decisions for creating wealth for shareholder.

Advantages of E-Shopping

What was the famous saying of Napoleon Bonaparte? “Money, money , money!”. As can be seen ,money is one of the most important inventions of human being history. In ancient times, there was no money. People traded or bartered goods that they have produced themselves in their farms. The first money was used over 2000 years ago.

As mentioned above, people were trading their goods to provide their needs. After the invention of the money people started to use firstly “coins” and then

the “banknotes” to buy what the need.So, trading is the first example of shopping. Shopping is the examining of goods and services from retailers with the

intent to purchase at that time1. In 20th century, people usually went to shopping malls where there were a lot of shops inside them and bought what they

needed. Nowadays a new type of shopping attracts people’s attention: Eletronic commerce. Electronic commerce , commonly known as e-commercec or e-

shopping, refers to the buying and selling of products or services over elevtronic systems such as Internet an other computer networks2.

E-shopping which can bi considered as one of the most popular shopping option today, is preferable becaouse of their advantages for both supplier and customer.

To begin with, e-shopping has three remarkable advantages for suppliers which are advantages in sales, economic and growing advantages. The first benefit is that merchandisers has rewards when they use Internet to sell their products.

Most importantly, suppliers can choose to sell the product in stock according to demand. The main target of a company is to make profit. It is not logical to produce more then can be sold. This can occur a very big damage to the profits of a company. If a firm anatomize how much products sold last month/year, it can avoid unsold goods.Moreover, companies get info’s easier about the preferences of customer. These companies usually have departments which search what people need. For example, they make researches about the sales of the companies. They look which product was sold more, which colour was more preferable, which model was more popular among buyers . They also prerare tests in their websites where included questions about the fashion of the year. After this researches they configure their products and set them on their online stores.

Apart from advantages is sales, the economic advantages is the second benefit of e-commerce.Primilarly, companies get rid of spending money to extra communication tools. In contrast to stores, shopping websites does not need tools like fax machines, pos machines, extra phones, checkout machine. Only one phone is sufficient for communication in case of a problem with the buyer and seller.

All other things can be done on Internet with a computer.Besides the unnecessary tools, there is no need to rent a big office. The big well-known shopping firms want a big shop or office to fascinate people and sell more products. In that way they can earn more and make a lot of profit.As an example,Teknosa is a store where sells technological products like Tv’s, computers, cameras, phones, batteries, loudspeakers and all other technological devices that can’t imagine. They also made an agreement with Megavizyon and started to sell boks Cd’s and Dvd’s. Having taken everything into consideration, all of these devices can’t be sold in a small store. Whereupon, all the Teknosa stores are multi-storey or distributed on a huge area. On the other hand,as mentioned above, online shopping is done over internet with a PC. That means that, there is no need for a big office. Even on Starbucks while drinking coffee supplier can sell his product.

The last benefit of e-shopping for the supplier is the advantages in growing. To start with,there is a large amount of customer (national and international) and e-shopping gives the opportunity to reach them easily. Over 8 billion people are living on the world. Furthermore, there are a lot of internet users. Nowadays, every house has a computer at minimum. If a company has a online shopping website , it can reach more people in their country and other countries. Therefore, they can sell more products ,they can make more profit and they can grow faster.

Although there are a lot of advantages for the supplier, e-commerce is popular among customers because of their economic advantages and advantages on buying. First of all,e-shopping has economic advantages. The first economic advatage is that shopping online allows people to not expense for transportation and save time. It is true that, nobody does not live inside a shopping mall. So people have to transport from their houses to the shops.

They use a taxi, bus or their own cars. That means that they spend extra money for shopping. However when they shop online they do not spend extra money and they save their time. Another point where e-shopping has economic advantages is that people can get great discount using coupon codes and reach cheaper products. Unlike local stores,people can avail discount coupons and get a thing at a lower-rate when shopping online. Also there are websites that sales products with discount which reaches to 90%such as markafoni and limango. For instance, a jean which costs 159,99$, with a coupon on website can cost 45$ with a 70% discount

The final outstanding superiority of e-shopping is the buying advantages which are 7/24 open stores and shopping from home, infinite self space available,ability to compare product price and ability to learn reviews of other customers. In the first place , people like this type of shopping because of convenience. For people working long hours it is difficult to go out for shopping during normal business hours. It’s also difficult for mothers with young children an no one to mind them Online shopping can bi done twenty four hours a day and shoppers are able to shop from their own place at their own free time. People can but whatevet they want even at 3 a.m in the morning.

The ability to shop from home allows many people who have trouble getting to real world shops such as elderly or disabled people or others with transport or mobility issues to still purchase the products and services they need. In addition, when you shop from home people are more comfortable because they don’t have to deal with the weather. Secondly, there is an infinite self-space available.

Customers does not have to cope with stupid and bothersome salesman.Besides, when shopping online people can also avoid long lines to wait in and the

unnecessary contact with cranky people. Most of people are sometimes concerned with private shopping; online shopping offers a great platform to Also,

whenpeople are buying gifts, online mode is the perfect way to send distant friends or relatives the gift they wanted to send. Thirdly,e-shopping gives people

the ability to compare product price. The huge advantage of shopping online is that people have the opportunity to compare as many products and prices as

they want without having to spend the time and money to travel between several different shops.

This leads to a simple and quick way to perform price comparison unlike the dissatisfied and hurried shopping people do in local stores. Finally,people are able to learn reviews of other customers on e-commerce. People usually make comment for products. So, others can reads the reviews and can have an idea for the product they want to buy.

Autarchy and Hitler

International trade is increasingly important to the United States and other nation’s of the world; the percentage of total output traded has increased since the Second World War. International trade has many benefits for consumers and for also producers. This kind of trade enables nations to specialize, increase productivity, and increase output available for consumption. When governments make some choices about their countries economic activities they can use different policies. I’m gonna write something about Autarchy.

Autarchy is an economic policy that have closed economy and not allow any external trade. So we can assume that this policy is against of the free trade agreements. In practice a policy of autachy may refer to attempt to reduce a country’s dependece on external trade. For example, imposing tariffs and quotes may restrict trade even if it can not be entirely abolished.

In history Hitler did the most controversial choices and applications. Hitler pursued a policy of autarchy. It was his ambition to make Germany self-sufficient. However, this policy of autarchy was dependent on his other policy of lebensraum, which involved increasing the size of Hermany with conquest. But in practice, Hitler never achieved autarchy and Germnay continue its dependency on external trade about oil-industry.

Oyuncular Değişiyor: Ekonomide 2012 !

Yatırım araçlarını, GSYH’leri, para fiyatlarını, iktidarlık sistemlerini alt üst eden bir yılın ardından bu günlerde, ekonomi alanında gelecek öngörüleri yapılması olası eylemlerden.

2012 yılında Libya, Moğolistan, Makau gibi ülkelerin ekonomileri grafiklerde yükselen değerlerin temsilcisi olacak. Arap baharından cesaret alan birçok toplumda meydana gelecek toplu değişimler ( bu değişimlerin en başta Hindistan’da gerçekleşeceğini düşünüyorum ) ekonomik yapıyı da sarsacağı için 2012 yılının yükselen ekonomilerine sahip olacak ülkelerin isimlerini duymamış olmak normal karşılanacak.

Nijerya, Katar, Özbekistan gibi ülkeler kalkınacaklar ve bu gün yerlebir olan Avrupa ekonomilerinin düzelme çabasından fırsat elde edebilecekler. The Economist dergisinin 2012 öngörülerine dayanarak yazdığım bu ülkelerin büyüyecek ekonomilerinin grafiksel tasvirini sayfamda görmeniz mümkün.

Euro krizinden kurtulmaya çalışacak olan Avrupa ülkelerinde köklü değişimlerin meydana gelebilecek olması belki de AB sempatizanlığının sorgulanmasına, duyguların değişmesine neden olabilecek.

Ancak duruma global açıdan bakarsak, ülkelerin bir kısmının uzun süre sahnede yer almış olması, sahne arkasındakilerin canını artık sıkıyordu. Oyuncuların yer değiştirme vakti çoktan geldi.

Yeni Rekor!

Yeni yılda vatandaşlara moral vermek amacıyla yayımlandığını düşündüğüm bir haberin manşeti düşüncelerimi yeniden şekillendirdi.

Gelişmiş ülke statüsüne ulaşmak için ülkelerde cari açık seviyesi, teknolojik üstünlükler ve ne yazık ki kullanılan sömürgelerin sayısı baz alınabiliyor.Sömürgeleri olmamasına ve teknolojik üstünlükler açısından adını birinci sıralara yazdıramasada Türkiye geçtiğimiz yıl ihracatta rekor kırarak ekonomi notlarını düzeltmeye başladı!

Küresel krizin hakim olduğu şu yıllarda, AB’nin sonu meçhul olan ekonomisinden etkilenmeyen Türkiye %18.2 artışla ihracatta 134.6 milyar dolar seviyesine çıkarak kendi ihracat rekorunu kırdı. 2008 yılında küresel düzeyde meydana gelen ve Amerika’daki mortgage krizlerinden de etkilenen Türkiye daha önce elde ettiği 132 milyar dolarlık ihracat rekorunu bir adım ileri taşıyarak 134.6 milyar dolarlık yeni bir rekora imza attı.

Türkiye’nin cari açığın hala oldukça yüksek olduğu gerçeğinin yanında, TÜİK aracılığıyla elde edilen istatistiklere göre ekonomik açıdan ilerlemeler kaydeden ülke ilerleyen yıllarda ihracat seviyesini artırarak yeni rekorlara imza atabilecek gibi görünüyor. Ülkede Kasım ayında elde edilen verilere göre ihracat % 18,5 artarak 11,1 milyar dolar düzeyini görmüş ve ithalat da % 8,8 artarak 18,6 milyar dolar seviyesinde seyretmiştir (TÜİK).

En büyük ihracatın otomobil sektöründe gerçekleştirildiğini gösteren istatistikler, giyim eşyası ve aksesuraların, elektronik aygıt parçalarının ihracatta boy gösteren diğer ürünler arasında olduğunu da veriler aracılığıyla gözler önüne seriyor.

Ancak hala önemli olan ve yapılması gereken ihracatı ithalatın önüne geçirebilmek ve güçlü devletlerin toparlanması durumda da bu rekor düzeyi elde tutabilmektir.

Melek Yatırımcı

Melek yatırımcı” kavramı Türkiye’de henüz yeni kullanılmaya başlayan bir kavram. Hatta bu kavram henüz gelişme çağına bile girmeyi başaramamış,tanıtım düzeyinde uygulanan kavramlar sınıfında yer almakta.

TOYP (Türkiye’nin On Başarılı Genci) gecesi ödül töreninde “Melek Yatırımcılar Derneği” ödül almıştı. Bu yatırım kavramıyla bir sene önce işletme kitabında tanışmıştım, Angel investor. Peki bu kavram ne demek? Geleceği var mıdır? Kimlerdir bu “melekler”? Ne yaparlar ne işe yararlar?

Melek yatırımcıların özelliklerinden birini bu günlerde bir çok bankanın reklamında yer alan “KOBİlere yardım” sloganıyla benzer bulsamda,bu tip yatırımcıların özelliklerini okuduktan sonra fikrim değişti.

Öyleyse bu kavramı açıklamaya başlamalıyım.

Melek yatırımcılar, gelecek vaad eden,iyi bir iş fikri olup da yeterli sermayeye sahip olmayan kişi ya da kişilere finansman sağlayan yatırımcılardır.
Peki bankaların küçük işletmelere,büyümek isteyen işletmelere verdikleri kredilere mi benziyor bu yatırım aracı diyebilirsiniz.Yanıtım hayır olacaktır.

Melek yatırımcılar finansal destek sağladıkları kişi veya kişilerin işletmelerine yönetim kurullarında yer alarak ya da gelişim temelli stratejik yollar çizerek büyümelerine yardımcı olurlar.Zaten melek yatırımcı olarak nitelendirilen kişiler ilgilendikleri sektörde tecrübe edinmiş insanlardır. Yatırımcılar finansman sağlamayı seçtikleri kişilerin işletmelerinin sektörde nasıl gelişebileceklerini önceden kestirebilen girişimcilerdir.

Girişimci niteliklere sahip sermaye konusunda sıkıntı çeken kişilere, girişimci niteliğine bürünmüş ve girişimci olmanın hakkını vermiş kişilerin yardım etmesi benim melek yatırımcı tanımımdır.

Ancak tabi ki bu “yardım” karşılıksız olmayan bir yardımı ve yalnızca yatırımı yapana fayda sağlamakla yetinmeyen bir eylemi niteliyor.
Genel olarak melek yatırımcıların hangi sektörlere ilgi duyduklarını da belirterek yazımı sonlandırmak isityorum. Bu tip yatırımcılar en çok sağlık hizmetleri,yazılım ve biyoteknoloji sektörlerine rağbet ediyorlar.

Zengin Baba Yoksul Baba

Eğer yatırım konusunda ilgiliyseniz, ancak yatırım yapmak için risk almaktan korkanlardansanız müjde, aranan kan bulundu!
Başarılı,çalışkan,zeki,hırslı öğrenciler genellikle bir toplulukta sivrilen tipler olarak bilinirler. Onlar her zaman yüksek notlar alır ve her daim parlak bir öğrencidir. Gün gelir mezun olunur,kepler havaya fırlatılır ve diploma alınır. Peki sonra?

Zenginlerin,tanınmış zenginlerin hikayeleri vardır. Babadan kalma bir serveti olmayanlar kendi emekleriyle belirli bir gelir düzeyine ulaşırlar. Bu tarz insanların da öz geçmişi dillerde dolanır,ağızlar açık okunur,örnek gösterilir. Kimisi şans diyebilir kimisi de “bende olsam bende yapardım” der kibirli bir tavırla. Ancak kendimizi kandırmayalım burada değişik bir şeyler var. Cesaret ve donanımla “fare yarışı”ndan çıkmak hepimizin elinde.

Nasıl yani demiştim kitabın kapağına baktığımda. “Zengin baba,yoksul baba” nasıl olabilir ki ? Kendimce senaryolar ürettikten sonra kitabın kahramanı olan Robert T.Kiyosaki arkadaşı Mike’la birlikte küçükken ekonomi alanında edindiği bilgileri zengin babasından öğrendiklerini,yoksul babasından gördüklerini aktarıyordu.


Bayan Sharon L.Lechter bir muhasebeciydi. Çocuklarına iyi eğitim verilebilmesi için var gücüyle çalışıyordu ve kendini geliştirip “maaşına gelecek zam”mı bekliyordu. Ancak daha sonra Rovert T.Kiyosaki’nin verdiği bir konferans çıkışında beyninde bazı düşünceler şekillenmeye başladı.
Hem bir anne hem de muhasebeci olarak,çocuklarının okulda hesaplı olmayla ilgili bilgi edinmemelerinden dolayı kaygılanıyordu. Bugünün gençleri daha liseye gitmeden kredi kartı sahibi oluyorlar;gelgelelim,bırakın kredi kartlarında işleyen bileşik faizin nasıl hesaplandığını öğrenmeyi,ne parayla ne de yatırım yapmayla ilgili bir kurs görüyorlardı. Hesap ve paranın nasıl işlediği bilgisine sahip olmaksızın kendilerini bekleyen,para harcamanın birikimleri tükettiği dünyaya atılmaya hazır olamazlardı.

Tüm bu düşüncelerden sonra Robert T.Kiyosaki’yle özel olarak görüşme yapan bayan Sharon,uzun süredir bölükpörçük bir kenarda duran bay Kiyosaki’nin kitabının oluşmasına yardım etmeye karar verdi.Sonuç olarak da şu an kütüphanemde yer alan “Zengin Baba,Yoksul Baba” kitabı oluştu.

Bu kitapla birlikte gördüm ki yurt dışında da “para yönetimi” konusunda üniversiteler de yeterli donanımı öğrencilerine veremiyorlar.


Okulda gördüğümüz muhasebe derslerinde yalnızca harf notuna odaklı gelişi güzel çözülen sorulardan sonra geçilen bu derslerin zaman kaybı olduğu gerçeğini sayfalar ilerledikçe anlıyorsunuz. Bu kitap size eğitim almayın kalıplardan kurtulun demiyor. Aksine finansal eğitimizi alın ancak korkmayın! Cesaret edin! Diyor. Ve en önemlisi YATIRIM YAPMANIZ GEREKİYOR diyor. Bu görüşe kesinlikle katılıyorum çünkü elinizdeki parayla yaptığınız “mülk” temelli yatırımlar size vergi,apartman giderleri,ev bakımı şeklinde yaşamınız sonlanana dek geri gelecek “pasif” değerler olacaktır.

Bana kimse okulumda ( ekonomi ve finans öğrencisiyim) “bono ve tahvillere yaıtım yapın hisse senetleri alın,risk analizi yapın! Yapmalısınız! Demiyor. Bu durum değişmeli. Diplomalı mezunların yerini,nitelikli mezunlar almalı.

Öğrendim ki yatırım yapabilmek için milyonlara ihtiyacınız yok. Küçük birikimler (50 tl bile olabilir) yatırım yapmanız için iyi bir başlangıç olabilir. Ancak hiç bir şey bilmeden yatırım yapmak yüzme bilmeden denize atlamakla eş.İşin eğitimini alırken günlük hayatımda bunu nasıl kullanırım diye sorgulamalıyız.

Girişimci olmak,riskler alabilmek ve en önemlisi de kendini geliştirebilmek kişileirn karakterinde olan bir özelliktir,cüzdanlarda kesinlikle değil!