This weekend Barron's writer Reshma Kapadia interviewed several fund managers for stock and fund ideas outside the US, in Europe, and Japan. Her headline called for “a global rebound”. Only one of the tipped companies has a US-listed American Depositary Receipts share, luxury car-maker Ferrari, spun off by Fiat Chrysler. Recommended by Tom Davis of PGIM Jennison Global Opportunities Fund, RACE also trades a price/earnings ratio of 41.1. This undermines the sub-head “Bargains Abroad”. Bargains did not arise as European markets fell 3.1% in the past year while US ones went stratospheric. Their cheapness now depends on ratios.

Her stock list of other companies includes a Germany only stock, Team Viewer, with an even higher p/e ratio, and no US listing, a competitor for Zoom recommended by Carl Kawaja of Euro-Pacific Growth Fund. Others mentioned were not listed with their p/e ratios: French LVMH which dropped its bid for Tiffany last week, or Ørsted of Denmark with no ADRs.

Another weird pick was Spanish Amadeus IT, a beaten-down travel and hotel tech company. A German firm without an ADR or any data is Sartorius, a lab supplier likely to gain from the race to cure COVID-19, tipped by T. Rowe Price Global Fund's David Eiswert, at a p/e ratio of 61.8.

At 33.4x earnings, Shimano (SMNNY), Japan's maker of fishing gear and bike products, was pick of Ally Chen of UBS. The main reason for these ultra-high ratios is not because Europe and Japan typically are so pricey. It is because the analyst interviewed aims to lure Barron's readers into funds whose shares USA investors can neither analyze nor buy easily.

For really cheap foreign stocks you need to hit the ADR universe, what we do. Read on. The tech wreck spreading overseas led some excellent global companies to sell-offs. Our home market index, the Dow Jones, is off 800 points. Here are some worth buying now:

*Tomra Systems, TMRAY, maker of reverse vending machines (not being used now because of COVID-19 risks) and other sorting systems for pills to potatoes fell 2.82% today to $40 on low volume.

*Dr. Reddy's, Indian generics drug-maker, RDY, is down 4.3%. Last week it settled its patent case with Bristol-Myers BMY by delaying its Revlimid rollout to 2022 and 2026. Monetary terms were not revealed.

*Eisai with its US partner Merck today got US FDA approval for a combo of Keytruda and Lenvira to treat melanoma and solid tumors. ESALY fell 1.75% despite Alzheimer's and cancer drug hopes.

*Astra-Zeneca's lead in the COVID-19 vaccine race was reduced by its halting because of reactions to its virus in phase III trials, says SVB Leerink. AZN shares lost 2.36%. The cautious halt will help it.

*Israeli Compugen dropped 6.7% on no news, just that it has risen a lot lately. CGEN.

*Canadian Zymeworks lost 2.9% today on no news. ZYME.

*Beigene BGNE will use Leap Therapeutics to run adenocarcinoma cancer trials so its stock fell nearly 3%.

*Nokia and Ericsson lost a bit of their appeal after Samsung won a Verizon deal. But the European duo fell 4.4% and 4.7% today, way too much. NOK; ERIC. Vodafone lost 4.9%.

*Infrastructure plays CRH plc CRH of Ireland and Mexican Cemex (CX) are down 6.04% and 4.56% today although they serve global markets, not just ours.

*Swiss Roche sub Genentech reported to a virtual conference results from phase III trials of its triple-negative breast cancer drug Tecentriq plus chemotherapy. RHHBY also bought Irish Inflamazone, a private company working on NLRP3 inhibitor genes (nucleotide-binding domain-like receptor proteins), which stop cytokine storms in COVID-19 patients and others. Roche stock fell 1.6%. despite a higher Swiss franc.

*Global banks were caught in flagrante over their money laundering and JP Morgan, Deutsche Bank, and HSBC fell to a 25-yr low. Spain's Santander (SAN) lost 7.2% but was not among the launderers. It did cut its dividend to meet EU regulations.

*Standard Life Aberdeen, SLFPY, which combines insurance with fund management, fell 9.75%, the worst showing of all. Its latest results beat and was recommended by Berenberg to cope with inflation and generate cash earlier this month, quoted by the Wall Street Journal if not by Barron's.

*Finnish Sampo Oij SAXPY is down 5.2% again on no link to the banksters.

*Naspers NPSNY fell 5% on worries about Tencent ignoring all its other holdings. TCEHY is off 3.2%.

*Teva TEVA launched 2 digital inhalers for tracking and helping asthmatics aged over 12, both with flucasone propionate and one adding salmeterol. Its stock fell by 5.9%.

*Royal Dutch Shell added a second round of cost cuts to its earlier one aiming to lower production costs for its oil and gas production by up to $4 bn It will cut its LNG and gas station spending and focus on fields only in the North Sea, the Gulf of Mexico, and Nigeria. RDS-B is copying BP plc, down 2.7% while BP is down 2.9%.

*NIO, the electric car-maker, is down 4.8% on the resignation of Nicola's executive chairman Trevor Milton who has no role whatsoever with the Chinese firm.

*Mexico's Orbia Advance Corp (MXCHF) raised £300 mn in sterling bonds not listed anywhere. The yield was not given by my source, Sentidocomun.co.mx. Its stock yields 5.52% and its p/e ratio is 26.4—high but not by Barrons' standard.

*Microsoft is buying ZeniMax Media, the parent of Bethesda Softworks, maker of games for its Xbox digital console. This makes up for losing TikTok. It should boost our Nintendo NTDOY, Japanese maker of games and consoles, an Abimanyu pick,. It beat Xbox the last time they went head to head with 63 mn consoles to MSFT's 48 mn. So did Sony Playstation with 113 mn.