Last year, US News and World Report ran a list of stock picks if Democrats win the White House in 2016. After Kira Brecht touted how well stock markets do under Democrats, she pointed to alternative energy.
While Republicans are seen as big defenders of crude oil drilling and old-school coal energy production, Democrats are perceived as environmentalists favoring so-called clean energy, or the renewable energy sector.
Top alternative energy stock pick: "Our favorite is SunEdison," Stovall says. SunEdison (ticker: SUNE) is a leading solar system installer. The stock carries a five-star rating and a "strong buy" recommendation from S&P Capital IQ. After a 12 percent collapse last week, SUNE stock is trading for about $11 per share, but S&P Capital projects gains over 12 months to $32.
So how's that working out?
SunEdison Inc SUNE.N, once the fastest-growing U.S. renewable energy company, filed for Chapter 11 bankruptcy protection on Thursday after a short-lived but aggressive binge of debt-fueled acquisitions proved unsustainable.
Wait... a short-lived debt-fueled spree proved unsustainable? Well that's certainly bad news for Obama and the entire Democratic plan for the economy.
The Chapter 11 filing caps SunEdison Chief Executive Officer Ahmad Chatila's seven-year quest to transform a struggling maker of silicon wafers into a renewable energy giant able to capitalize on burgeoning demand for solar and wind energy amid growing concerns about climate change.
Ahmad Chatila has been listed as one of those CEOs who have to go. The same might be said of Barack Obama. And the two men have spent time together.