Vestas Wind Systems (VWS-DC)

The world's largest wind turbine company. He thinks wind turbines have a great future. The issue is their intermittency. The wind does not blow when we really need the power. Storage technologies will really benefit them. He really likes it, though.

Wind turbines saw continued price decreases but not as quickly as solar. He thinks there will be more wind turbines being installed going forward. There is a lot of competition. Choosing companies can be tricky so he prefers a wind turbine ETF (e.g. FAN-N).

(A Top Pick Nov 3/11. Down 52.04%.) (Denmark exchange) Sold his holdings. Too much competition.

Denmark Exchange. Wind turbines. Good balance sheet but has some debt. Currently losing money but has just renegotiated its credit line. Has a $2 billion credit line giving them 3-4 years of good credit coverage. Trades at 7X earnings. Quite risky so just nibble.

(Top Pick Nov 23/10, Up 13.85%) Alternative energy stocks getting a lift with Japan crisis. Cheap producers of power. Wind Power.

(Denmark Exchange) Wind power is a growing market. They have a 15% market share

(Denmark exchange) Biggest wind turbine manufacturer in the world. They were pummeled. They revised down their earnings significantly, recently. Biggest concern is subsidies. Coal is the cheapest. The world is not awash with money to finance this. Subsidies are being scaled back. GE is a competitor, but competition is getting less. GE’s product is considered less optimal compared to VWS’s. They have a year’s advantage over Siemans and GE. He is optimistic about the future.

Sells wind towers, biggest market share. Order rates for their latest product have been tremendous. They are living on orders from the recession. Current orders are for delivery in a couple of years. Thinks we are at the low for the stock.

(Denmark exchange) Manufacture wind turbines. They keep getting more and more contracts. They would have 35% of the market for wind turbines.

(Denmark exchange.) Largest wind turbine manufacturer globally. Growing top line north of 30% per year. Will be expanding capacity 40% by 2010. Have a market share of 23%. Margins are less than their peer groups so there is room for expansion.