Tuesday, May 14, 2013

bond bubble



100/yield(%) ~ PER of stock

채권금리의 역수는 PER와 비교할 수 있다.
미국채 10년물은 60근처이고, 회사채는 20 중반이다.
S&P500은 fwd PER가 15정도, KOSPI는 10 정도 될 것이다.

이렇게 PER로 환산해서 보니 거품을 확인하기에 편하다.
채권의 거품이 더 지속된다고 해도, 미국채가 아니라 회사채가 그나마 조금 더 여력이 있어 보인다.


stratasys 1Q2013


http://investors.stratasys.com/releasedetail.cfm?ReleaseID=764122

"Our record first quarter results reflect a continuation of the strong worldwide demand we are observing for our innovative products and services," saidDavid Reis, chief executive officer of Stratasys. "Strong sales of our higher-margin products help drive a significant increase in non-GAAP gross margin, and a 40% increase in non-GAAP net income in the first quarter over last year. We are pleased with our strong start to 2013."


http://files.shareholder.com/downloads/AMDA-FNA1K/2475778058x0x640685/b9f94f94-cdf2-42b7-8a82-3b922b026a8d/SSYS%20Q4-2012%20CC%20Slide%20Presentation%20FINAL.pdf

http://files.shareholder.com/downloads/AMDA-FNA1K/2475778058x0x560087/39653365-fbf2-440d-ae05-64bee367161c/SSYS_webcast_presentation_041612.PDF

http://news.investors.com/technology/051313-655798-stratasys-earnings-beat-as-revenue-meets.htm?ven=yahoocp,yahoo

http://www.mideasttime.com/stratasys-given-overweight-rating-at-piper-jaffray-ssys/20876/


DDD, SSYS: William Blair Says Sell, Hype Exceeds Fundamentals


http://blogs.barrons.com/techtraderdaily/2013/05/16/ddd-ssys-william-blair-says-sell-hype-exceeds-fundamentals/



Why 3D Printing Is Overhyped (I Should Know, I Do It For a Living)


http://gizmodo.com/why-3d-printing-is-overhyped-i-should-know-i-do-it-fo-508176750