2 Stocks Exposed to Wind Power That Are a Safe Bet (And Some Riskier Pure Plays)

James Altucher has written about two potential wind power plays in a recent Financial Times article. The two stocks are AeroVironment (AVAV) and Otter Tail (OTTR). Yes, strange names, but Altucher mentions that these stocks interest him in part because his: 

.... general approach when dealing with “hot topic of the day” type stocks is to look for back doors. Find stocks that have legitimate cash generating businesses, trade at cheap multiples and happen to be making serious moves in whatever the hot field is.

 AeroVironment and Otter Tail certainly fit this description since they both have other primary businesses that do something other than support the wind power industry. Therefore, if wind power ends up being a passing fad (not likely, but scale could be less or slower than expected), you still have something else to fall back on. Probably not a bad strategy given the recent introduction of numerous companies claiming to be in the wind industry, as well as the number of wind power-based companies that still trade over the counter and on the pink sheets.