Finding the Right Way to Play Wind

We caught a moment earlier this week when it became clear to me that wind power may be the biggest sleeper out there. I was interviewing Warren Buffett for "Squawk Box" and the guy is so the real deal that it is actually a little frightening. He has an encyclopedic knowledge about pretty much every business that he invests in -- one of his strengths is to know his strengths. And he also has pull to get pretty much what he wants in the business world.

I had asked Becky Quick to ask him -- he did not have an earpiece on so could only hear me through Becky -- about how backing of wind power. He owns a Midwest utility and I heard that he was building up wind power as an important source of energy. His answer was a tad off: he seemed to like it but he said he couldn't get enough wind mills without the help of GE (GE - commentary - Cramer's Take) being gracious to him.

Hmmm. A product that is in short supply that nobody really knows about that he had to use pull to get.

I have been recommending Otter Tail Power (OTTR - commentary - Cramer's Take) as a play on this because of its wind division. James Altucher of Stockpickr did the same thing Monday on "Street Signs" with Erin Burnett. It's a pastiche of a utility but its windmill business seems very strong.

Right on the heels of that we got the Trinity (TRN - commentary - Cramer's Take) quarter and it was chock full of good news about wind demand. Make no mistake, wind is the cheapest form of power, although not geographically the most convenient. So the big backlog in windmills was heartening, even as Trinity's rail-car business is so-so.

So I have been casting about for more pure plays and I stumbled on Broadwind Energy (BWEN - commentary - Cramer's Take), a $13 OTC billboard stock with a rapidly ramping wind mill business with a giant last quarter for revenue. This billion dollar company seems to be doing it all including installing, which is a big deal.

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At the time of publication, Cramer was long NYX.

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