September Allocation

Economic outlook as of today is following;

USDTRY:           26,98

BIST100:           8042

TR10Y Yield:     %23,31

Policy Rate:       %25

Inflation:             %58,94

CDS 5Y TR:       382,27

To track current status of stock market valuations, I'm using some indicators. One of the most reliable one is following: (BIST:XUTUM/FX:USDTRY)/(1/TR10Y), which gives me a very strong signal whether stock market is overvalued or USDTRY is undervalued.

For me this is an extremely strong signal to sell because with current risk free rate, invesing in stock market, especially to the companies with pe value higher than 4 doesn't make sense, which is almost %80-90 of the stock market.

Banks are as of now offering %41 interest rate for the term deposit, so I'll allocate most of my investments into term deposit until this dimensionless value drops down to 3000s.

Portfolio allocation:

Term Deposit (%41 interest rate):     2,479,000.00  TRY (92,0060.00 USD)

Eurobonds:                                        300,000.00     TRY (11,118.00 USD)

Crowdfunding:

 - QCharge :44,600 TRY

 - SAASTECH.IO :50,000 TRY

 - Corpus Solar Enerji: 36,217.96TRY