News > Capital Markets

Deutsche Bank expects $7 billion losses after charges for the third quarter
Capital Markets
<p>Deutsche Bank AG (NYSE:DB) (ETR:DBK) (FRA:DB) is expecting to report a net loss of €6.2 billion (approximately $7 billion) after charges for the third quarter of this year.</p> <p>Deutsche Bank estimated an IBIT loss of approximately €3.3 billion and a net loss of €4.8 billion year-to-date through the third quarter.</p> <p>Excluding the impact of the impairment of goodwill and intangibles, its IBIT loss would be approximately €200 million and the net loss would be around €400 million.</p> <p>Deutsche Bank expects to remain profitable year-to-date until the third quarter with IBIT of approximately €2.5 billion and net income of approximately €900 million.</p> <p>The global investment bank also disclosed that its management board will recommend a reduction or possible elimination of the common share dividend for the fiscal year 2015. Deutsche Bank said the move was part of the planning for the implementation of its Strategy 2020.</p> <p>The stock price of Deutsche Bank declined more than 4% to $27.50 per share during the extended hours, around 4:55 in the afternoon in New York.<br /> Deutsche Bank huge write-down<br /> Deutsch Bank said its third quarter financial performance will be affected by a huge write down including a €5.8 billion of goodwill and certain intangibles related to its Securities (CB&amp;S) and Private &amp; Business Clients (PBC) divisions.</p> <p>The global investment bank also incurred a €600 million impairment of the carrying value of its 19.99% stake in Hua Xia Bank Co. Ltd. Deutsche Bank said its holding was no longer strategic.</p> <p>Additionally, Deutsche Bank said its litigation provisions are worth approximately €1.2 billion. The bank expected that majority of the amount are not tax deductible. It is also anticipating that its final litigation provisions in the quarter will be affected by further events prior to the release of its final results for the third quarter.<br /> Deutsche Bank regulatory capital ratios<br /> According to Deutsche Bank, the impairment of goodwill and intangibles as well as its Hua Xua investment has no material impact on its regulatory capital ratios.</p> <p>It is currently expecting to report a fully-loaded CRR/CRD4 Common Equity Tier 1 ratio of around 11% for the third quarter. The expected regulatory capital ratio included the impact of European Banking Authority Regulatory Technical Standards (Prudential Valuation) adopted during the period.</p> <p>This story first appeared in ValueWalk.<br /> Photo: </p>
Daily Scan: Shanghai up 3%; rest of Asia tanks
Capital Markets
<p>Updated throughout the day</p> <p>October 8</p> <p>Good evening everyone. A-shares did a mighty fine job of playing catch-up Thursday with the Shanghai Composite finishing the session up 3% at 3,143.35 – above the psychologically important 3,100 level.  The Shenzhen Composite rallied  4% tO 1,785.39. Hong Kong shares slids on what traders are calling profit-taking, while over in Japan, a slump in machinery orders continued to weigh on the region’s stocks. Here’s how they fared today:</p> <p> Hang Seng Index: -0.7%<br /> Hang Seng China Enterprises Index: -1%<br /> Nikkei 225: -1%<br /> Topix: -0.8%<br /> Straits Times Index: -0.4%</p> <p>Over in Europe, things aren’t looking so hot either. The U.K.’s FTSE 100 is down over 0.4% ahead of the Bank of England’s rate decision, while Germany’s DAX – spanked by a mixed bag of data – fluctuated throughout the day. Its currently up 0.2%.</p> <p>Here’s what else you need to know:</p> <p>Uber China is toast. Didi Kuaidi, Uber’s Beijing-based rival, scored a massive win against its San Francisco-based nemesis after it secured a license to operate private cars in Shanghai. This is a huge blow to Uber, not only because Shanghai is a major market, but also because other Chinese cities typically follow suit. Wall Street Journal (paywall)</p> <p>Glass one-quarter full: Greek unemployment…is better than expected. In the latest of Greece’s mounting good reports, the embattled nation’s unemployment rate was revised to 25% from 25.2%, beating analysts’ estimates of a 25.4% reading. That’s 2.75 million unemployed people. Financial Times (paywall)</p> <p>Sony to sell stake in world’s largest music publisher. Sony, the embattled Japanese electronics giant, is selling its stake in Sony/ATV Music Publishing – which it co-owns with the estate of Michael Jackson. Sony/ATV owns the copyrights to songs from the Beatles, Marvin Gaye, and Taylor Swift, and is currently pegged by music vets at $2 billion. Wall Street Journal (paywall)</p> <p>Largest Chinese private merger in the works. Meituan.com and Dianping Holdings, two of China’s largest online consumer service companies, are reportedly close to sealing the deal on the country’s largest private merger. The deal – valued at $20 billion – will create a combined entity that will dominate China’s online services market from movie tickets to food deliveries. Financial Times (paywall)</p> <p>President Obama apologizes for the Kunduz airstrike. Obama called and directly apologized to Dr. Joanne Liu, president of Doctors Without Borders, for the airstrike in Afghanistan that left 12 medical staff members and at least 10 patients dead. Doctors Without Borders has called the airstrike a war crime, and an "attack on the Geneva Conventions." CNN</p> <p>Deutsche Bank expects big losses. The German bank says it foresees a 6.2 billion euro loss when it reports its third-quarter earnings results on October 29. The board will recommend "a reduction or possible elimination" of its common-share dividend for 2015. </p>
Daily Scan: Stocks keep climbing up; Hillary reverses course and opposes TPP deal
Capital Markets
<p>&nbsp;</p> <p>Updated throughout the day</p> <p>October 7</p> <p>Good evening, U.S. stocks continued to rally Wednesday as healthcare companies rebounded. The Dow gained 0.7%. The S&amp;P 500 was up 0.8%, and the Nasdaq grew 0.9%. Rising oil and low interest are the magic ingredients for the upbeat mood. Oil got desperately close to breaking $50/barrel, but ended just below $48/barrel. We'll see how that lasts as the quarterly earning seasons ramps up. Meanwhile, home mortgage applications surged 25% for the week ended October 2 ahead of regulatory changes; nonetheless home buyer applications are surprisingly low, experts say.</p> <p>Here is what else you need to know:</p> <p>Hillary Clinton does turnabout and opposes TPP. Clinton had supported the deal while in the Obama Administration but now says the agreement doesn't "meet the high bar [she] has set." The reversal also puts her at odds with Vice President Joe Biden, who may still be mulling a run for the Democratic nomination. Labor unions, as well as other Democratic presidential candidates, have opposed the deal. Politico</p> <p>President Obama apologizes for the Kunduz airstrike. Obama called and directly apologized to Dr. Joanne Liu, president of Doctors Without Borders, for the airstrike in Afghanistan that left 12 medical staff members and at least 10 patients dead. Doctors Without Borders has called the airstrike a war crime, and an "attack on the Geneva Conventions." CNN</p> <p>Deutsche Bank expects big losses. The German bank says it foresees a 6.2 billion euro loss when it reports its third-quarter earnings results on October 29. The board will recommend "a reduction or possible elimination" of its common-share dividend for 2015. Wall Street Journal</p> <p>Central banks shed $123 billion in U.S. Treasurys, the most since 1978. The sales are a further sign of distress in emerging markets which once used trade surplus cash to purchase the debt. China sold an estimated $120 billion to $130 billion in August to prevent the yuan from tumbling further than it wanted. Traders suggest that the yield on the 10-year note has remained historically low because China was such a major buyer. Nonetheless, analysts say Treasury yields are unlikely to back up as domestic buyers are plentiful.  Wall Street Journal (paywall)</p> <p>AB InBev makes $104 billion bid for rival brewer in biggest deal of the year. SABMiller still isn't satisfied with the offer.Anheuser-Busch InBev, the world’s largest brewer, launched an improved offer for SABMiller on Wednesday, offering 42.15 pounds/share, up from its September offer of 38 pounds, for its largest rival to extend its reach into Africa and other markets. CNN Money</p> <p>Dollar falls to upper 119 yen zone after BOJ stands pat. Some market players had expected the central bank to decide on additional easing that could weaken the yen. Nikkei</p> <p>Trio wins Nobel Prize in chemistry.</p>
Daily Scan: Asia ends on a high, oil prices boost global stocks
Capital Markets
<p>Updated throughout the day</p> <p>October 7</p> <p>Good Evening. Asia finished on a high today as climbing oil prices bolstered energy stocks. Hong Kong's Hang Seng Index  got a 2.3% boost after China revealed that foreign-exchange reserves fell at a slower pace in September. Japan's Nikkei Stock Average meanwhile held out, gaining 0.8%, even after stocks struggled earlier in the day following the Bank of Japan's decision to keep its policy unchanged. There are still hopes that easing measures will be brought in at the end of the month.</p> <p>European markets have also been encouraged by rising oil prices, the Stoxx Europe 600 rose 0.3% in early trade while energy shares soared 1.5.%. The brent crude was up nearly 1% to $52.95 a barrel, on expected production cuts in the US and global markets.</p> <p>Here is what else you need to know:</p> <p>US orders Bank of China to hand over counterfeit ring data. A New York judge has ordered the Bank of China to hand over detailed information about Chinese bank accounts used by a counterfeiting ring that allegedly sold millions of dollars of fake Gucci handbags and wallets in the United States. South China Morning Post (paywall)<br /> AB InBev makes $104 billion bid for rival brewer. Anheuser-Busch InBev, the world’s largest brewer, launched an improved offer for SABMiller on Wednesday, offering just over 68 billion pounds ($104 billion) for its largest rival to extend its reach into Africa and other markets. South China Morning Post (paywall)<br /> Dollar falls to upper 119 yen zone after BOJ stands pat. Some market players had expected the central bank to decide on additional easing that could weaken the yen. Nikkei<br /> Samsung flags nearly 80% jump in Q3 operating profit. Samsung Electronics Wednesday flagged a nearly 80% jump in its third-quarter operating profit, which analysts put down to a weaker Korean currency and improved sales of televisions and semiconductors. Asia One</p> <p>IMF warns on worst global growth since financial crisis. The world economy will this year grow at its slowest pace since the global financial crisis, the International Monetary Fund said on Tuesday, with a deep slowdown in China and other emerging economies masking a strengthening recovery in rich countries. The Financial Times (paywall)<br /> Hong Kong panda Ying Ying suffers miscarriage. Giant panda Ying Ying was due to give birth to Hong Kong's first giant panda cub. Doctors at the Ocean Park amusement park said they are very disappointed as they have been trying for four years to get Ying Ying pregnant. BBC<br /> Thailand to push for Asean-level efforts to rein in haze. Thailand has said it will push for Asean-level efforts to rein in the haze that comes from smoke-belching fires in neighbouring countries. Straits Times<br /> MSF demands Afghan war crimes probe. </p>
Daily Scan: Stocks waver; 6000 inmates go free
Capital Markets
<p>Updated throughout the day</p> <p>October 6</p> <p>Good evening. The global markets wavered Tuesday after a series of steady gains. The Dow rose just 0.1% after slight ups and downs throughout the day. The S&amp;P 500 dropped 0.4% and the Nasdaq fell 0.7%. The Stoxx Europe 600 gained 0.6%. The energy sector rallied, and oil was up, creeping close to $49/barrel. In an attempt to placate investors, Glencore disclosed more financial information about its company, but didn't answer many questions.</p> <p>Here is what else you need to know:</p> <p>About 6,000 inmates to go free. The US federal Bureau of Prisons will give earl release to about 6,000 inmates beginning this month. The largest release in the prison bureau's history will benefit drug offenders given harsh sentences that are no longer in effect. Thousands more could be freed. The releases are not automatic, and are being considered on a case by case basis. About one-third of the 6,000 inmates are not US nationals and will be turned over to immigration officials. CNN</p> <p>Europe-US data transfer shutdown. The highest EU court ruled that the Safe Harbour system that allows them to transfer data between the US and Europe is invalid. Data transferred between international offices includes HR information, payroll, and online advertising data. The court says that Safe Harbour doesn't protect EU citizen's personal information, as the US national security laws can trump the privacy safeguards in the system. Reuters</p> <p>Women in ISIS slavery commit suicide to escape. Maybe hundreds of captured women, including the Yazidi Iraqi minority, are killing themselves to escape ISIS. ISIS claims that the Quaran justifies taking non-Muslim women into slavery and allows their rape. Thousands of Yazidis women and girls were captured and the men murdered when ISIS took captured Mosul. CNN</p> <p>Ex-UN General Assembly president nailed for bribery. U.S. authorities have charged John Ashe, UN ambassador from Antigua and Barbuda, with taking more than $1.3 million in bribes from Chinese businessmen. Five others involved in the alleged bribery have been arrested. Reuters</p> <p>BP in $20b settlement over fatal US oil spillage. Oil giant BP has agreed to pay $20 billion to settle claims with the US stemming from the company's Deepwater Horizon oil spill. An explosion on BP's deep-water drill, off the coast of Louisiana in 2010 killed 11 workers. Millions of barrels of oil were spilled into the surrounding waters. BBC</p> <p>Hong Kong uni protests over academic freedoms. Around 2,000 protesters at Hong Kong University marched Tuesday to support academic freedom as fears grow that Beijing is interfering in the city's education system. Channel News Asia<br /> NATO denounces Russian incursion into Turkish airspace. The U.S. and NATO denounced have Russia for violating Turkish airspace along its frontier with Syria, and Ankara threatened to respond if provoked again, raising the prospect of direct confrontation between the </p>
Green shoots in China?
Capital Markets
<p>Those who follow our posts know that we see considerable secular growth potential in China. This view was again affirmed during my most recent trip to Hong Kong last month, where members of our team had the opportunity to meet with management teams throughout Asia that are benefiting from secular growth trends as they navigate near-term cyclical pressures. The country’s geopolitical aspirations (including its bid to internationalize the renminbi), as well as its commitment to transition its economy from public sector and investment-led growth to private sector and consumption-led growth are likely to provide many opportunities for long-term investors.<br /> In addition to this longer-term lens, we also consider risk/reward from short- and intermediate-term perspectives. In the third quarter, our focus on managing near-term volatility contributed to our decision to underweight China. However, as we enter the fourth quarter, we are starting to see some of signs of stabilization in economic data that is contributing to a more constructive near-term view on China.<br /> First, China’s primary measure of manufacturing PMI activity was 49.8 for September. While still hovering below an expansionary level of 50, the reading showed signs of stabilizing and came in ahead of the consensus of 49.7, which we view as positive. Moreover, we were expecting muted manufacturing data in September, due to the massive manufacturing shutdown mandated by the government to ensure blue skies for China’s commemoration of the 70th anniversary of the end of WWII. Our view has been that once the “Victory Blue” shutdown concluded, we would begin to see signs of recent stimulus working through to economic data. State-owned enterprises are likely to show the benefits of stimulus first, with a trickle down to small and medium enterprises in the coming months.<br /> As we’ve noted in the past, China has many tools at its disposal to support its economy. In recent weeks, we’ve seen several fiscal policy moves that demonstrate the country’s commitment to avoid a hard landing while promoting the transition to a more consumption-driven economy. These include an auto tax cut and a reduction in requirements for property down payments. We’ve also seen a stabilization of the renminbi after a sharp depreciation, with additional capital controls being implemented to manage the flow of capital and reduce the volatility of this exchange rate. Over the medium-term, we should expect further depreciation of the renminbi relative to the dollar, as this currency adjusts to the weakness of other major trading currencies like the euro and yen, but the rate of this depreciation will be important as companies and governments adjust to this new environment.<br /> To be clear, we still believe capital preservation remains paramount in the current environment. Nonetheless, we believe we are seeing encouraging signs that can improve investor perception about China by alleviating concerns about an imminent hard landing, while the correction we’ve seen in the equity markets seems to have more than discounted this risk. As a result, we are using this opportunity to gradually increase our exposure to China, both through equities that we believe have more than priced in this near-term risk and defensive convertibles that appear well positioned to participate in the eventual recovery of the Chinese equity markets.<br /> Over the next weeks, there will be a great deal more data for us to evaluate, including foreign reserves data on October 6. Signs of stabilization in foreign reserves and savings deposits would point to a reduced risk of capital flight, which would give us more confidence in a gradual depreciation of the renminbi. We’ll also be watching for </p>
Daily Scan: Hong Kong sees mixed results, Europe slumps on factory data
Capital Markets
<p>Updated throughout the day</p> <p>October 6</p> <p>Good evening. Asian market's broadly finished on postive territory today with only exception being Hong Kong, which had mixed results. The Hang Seng Index slipped 0.1%, dragged down by a 3.1% fall in China Resources Enterprise. On the other hand, a rally in energy stocks such as PetroChina saw the Chinese Enterpise Index climb 0.5%. Casino stock also continued their week-long rebound today with Sand China, Wynn Macau, and Galaxy Entertainment climbing 8.6%, 7.4%, and 3.9%, repsectively.</p> <p>Over in Europe the markets are trading mostly lower on the back of disappoinitng factory data coming out of Germany. The pull back comes after the continent saw some of its biggest gains in more than a month on Monday on speculation that the U.S. federal reserve would keep interest low for the rest of the year following last week's poor jobs data.  The Stoxx Europe 600 index is on track for its first loss in three days, down 0.2% to 357.70.</p> <p>Here is what else you need to know:</p> <p>Hong Kong uni protests over academic freedoms. Around 2,000 protesters at Hong Kong University marched Tuesday to support academic freedom as fears grow that Beijing is interfering in the city's education system. Channel News Asia<br /> BP in $20b settlement over fatal US oil spillage. Oil giant BP has agreed to pay $20 billion to settle claims with the US stemming from the company's Deepwater Horizon oil spill. An explosion on BP's deep-water drill, off the coast of Louisiana in 2010 killed 11 workers. Millions of barrels of oil were spilled into the surrounding waters. BBC<br /> NATO denounces Russian incursion into Turkish airspace. The U.S. and NATO denounced have Russia for violating Turkish airspace along its frontier with Syria, and Ankara threatened to respond if provoked again, raising the prospect of direct confrontation between the former Cold War adversaries. Channel News Asia<br /> US accidently bombed Afghan Doctors Without Boarders hospital. The hospital was ‘accidentally struck’ by the US military after Afghan forces called for air support to eliminate a threat from the Taliban, a US commander said today. The strike in Kunduz on Saturday killed 12 medical staff and 10 patients, including three children. Daily Mail</p> <p>Greek PM pleads for debt relief with austerity budget. Greek Prime Minister Alexis Tsipras issued a resounding call for debt relief on Monday as his government unveiled an austere 2016 budget sticking strictly to international bailout targets in a new spirit of cooperation with European and IMF creditors. Reuters</p> <p>Chinese artist Ai Weiwei find bugging devices in studio. Ai Weiwei has posted a number of pictures of what he says are listening devices found in his Beijing studio. The Chinese dissident artist captioned one photo of a bug on Instagram with "There will always be surprises". BBC</p> <p>Flash floods in France kill at least 17 people. Four people are still missing after flash floods on the French Riviera killed at least 17 people over the weekend, prompting the government to declare a natural disaster in the southeastern tourist region.</p>
Daily Scan: Stocks buoy; Major TPP deal reached
Capital Markets
<p>Updated throughout the day</p> <p>October 5</p> <p>Good evening. Global stocks got a boost Monday. The Dow rose 1.85%, growing steadily from open. The S&amp;P 500 grew 1.83% and the Nasdaq was also up 1.56%. The Stoxx Europe 600 was up 2.8%. Shares of the embattled commodity giant Glencore surged as much as 71.6% today as word on the strasse spread that it was courting takeover offers. The company’s board however was quick to deny any knowledge of this but nevertheless, Glencore shares in the U.K. were still ripping higher. Over in FX, emerging market currencies continued their blitz against the greenback and among its biggest winners were the Korean won which added 0.7%, the Malaysian ringgit which jumped 0.5%, and the Russian ruble which spiked 0.4%. Doing even better though was the kiwi, which surged 0.9%.</p> <p>Here’s what else you need to know:</p> <p>Trans-Pacific Partnership reaches major trade deal. The TPP reached an agreement in Atlanta Monday that could effect 40% of the world's economy. A barrier-free, liberalized approach to commerce will effect everything from the price of cheese to cancer treatments. The agreement still faces an uphill battle with Congress. Democratic leaders worry that the agreement will hurt manufacturing jobs and the environment, and Republicans say it doesn't do enough. Reuters</p> <p>Yankees pitcher checks into rehab. Veteran starting pitcher CC Sabathia has checked into alcohol rehabilitation, meaning he will miss the postseason. The 35-year-old Sabathia is a six time All-Star and the winning pitcher of last week's game that clinched the Yankees' their postseason Wild Card. Reuters</p> <p>Search is on for missing cargo ship survivors. The U.S. Coast Guard belives that cargo ship El Faro sank during Hurricane Joaquin in the Caribbean Sea. The focus is now on trying to find survivors. The crew included 28 Americans and five Polish nationals. CNN</p> <p>American Apparel files for bankruptcy. The Los Angeles-based retail chain has faced falling sales, high debts, and a lawsuit with its founder. The company was hit with a $19.4 million loss in the second quarter. American Apparel has filed  for U.S. bankruptcy protection, and will restructure its 260 shops over 19 countries in the next six months. BBC</p> <p>Twitter names Jack Dorsey CEO, again. Dorsey has been working as interim CEO for the social media company since Dick Costolo stepped down in June. Dorsey founded Twitter and served as its first CEO from May 2007 to October 2008. He will also remain CEO of Square. Wall Street Journal</p> <p>Amtrak derails in Vermont. At least seven people were injured when the passenger train derailed and went over an embankment. CNN</p> <p>North Korea set to free NYU student. North Korea is set to release Won-moon Joo, a South Korean student at New York University whom it detained in April, the South Korean government said. The student is expected to be handed over to South Korean officials at the border today. </p>
Daily Scan: Asian equities rip higher; EM FX go on a tear
Capital Markets
<p>Updated throughout the day</p> <p>October 5</p> <p>Good evening everyone. Shares of the embattled commodity giant Glencore surged as much as 71.6% today as word on the strasse spread that it was courting takeover offers. The company’s board however was quick to deny any knowledge of this but nevertheless, Glencore shares in the U.K. are still ripping higher. It wasn’t the only one having a good day though – sure that ZIRP would stay place, Asian equities rallied across the board with Japanese shares chalking up its fourth day in the green. Here’s a quick snapshot:</p> <p> Nikkei 225: +1.6%<br /> Topix: +1.3%<br /> Hang Seng Index: +1.4%<br /> Hang Seng China Enterprises Index: +2%<br /> Straits Times Index: +1.4%</p> <p>Over in FX, emerging market currencies continued their blitz against the greenback and among its biggest winners were the Korean won which added 0.7%, the Malaysian ringgit which jumped 0.5%, and the Russian ruble which spiked 0.4%. Doing even better though was the kiwi, which surged 0.9%.</p> <p>Here’s what else you need to know:</p> <p>North Korea set to free NYU student. North Korea is set to release Won-moon Joo, a South Korean student at New York University whom it detained in April, the South Korean government said. The student is expected to be handed over to South Korean officials at the border today. CNN</p> <p>Flash floods in France kill at least 17 people. Four people are still missing after flash floods on the French Riviera killed at least 17 people over the weekend, prompting the government to declare a natural disaster in the southeastern tourist region. Reuters</p> <p>Former Hong Kong Chief Executive charged with misconduct. Donald Tsang, Hong Kong’s Chief Executive from 2005 to 2012, has been charged with two counts of misconduct in public office by the ICAC. He’s currently out on bail but he's scheduled to face the Eastern Court at 2.30pm. ICAC</p> <p>Japan service sector growth cools. In another blow to Japan’s economic outlook, the Nikkei Japan Services PMI came in at 51.4 in September, more than two points lower than August’s 53.7 reading. The accompanying Nikkei Composite Output Index meanwhile fell to 51.2, its lowest level since April. Everything’s still above the mark though, so nothing’s contracting. Yet. Markit</p> <p>Myanmar to sign peace deal with 8 rebel groups   Myanmar's government will sign a long-negotiated ceasefire on October 15 but with only eight rebel forces, officials said, as several major insurgent groups declined to ink an agreement that excludes some factions. Channel News Asia</p> <p>ISIS are smashing relics again.   Syrian activists said late Sunday that Islamic State (ISIS) militants have destroyed a nearly 2,000-year-old arch in the ancient city of Palmyra, the latest victim in the group's campaign to destroy historic sites across the territory it controls in Iraq and Syria. Fox News</p> <p>China “likely” to ramp up market reforms. While all signs point to </p>
Barron's Weekend Roundup: Volatility lovers and green energy ETFs
Capital Markets
<p>&nbsp;</p> <p>Not everyone's afraid of volatility. In this week's cover story, Barron's looks at the volatility lovers. These are the managers who have waited patiently for stocks to stop rising and start falling so they could snap up equities at a great price.</p> <p>Stocks aren't the only think looking attractive. High-yield bond are looking attractive, despite what Carl Icahn may think, writes Barron's.</p> <p>If commodities have gotten you down, it's time to rethink your strategy. Green energy stocks, such as solar or wind, have fallen with oil and natural gas, reports Barron's. While these companies may seem to fall in line, the green energy companies are really tech firms, and it's time to buy those ETFs.<br /> Photo:Global Panorama</p>