“Around the globe, wind-generating capacity has been expanding at a rapid 30% clip in recent years,” notes value investor Nathan Slaughter.

The editor of Half-Priced Stocks looks at industrial products firm Trinity Industries, adding, “Its most promising division is the production of structural wind towers.” Here’s the latest “deep-discount’ buy.

“Led by states such as Texas and California, wind farms around the country will generate almost 50 billion kilowatt hours of electricity this year. Of course, the U.S. is still playing catch-up with many other regions.

“In fact, countries such as Spain, Portugal and Denmark all rely on wind farms for as much as one-quarter of their total power needs.

“Across Europe, wind turbines will account for roughly one-third of all new generating capacity installed over the next few years and could provide electricity for 90 million people by 2010.

“The outlook is even brighter in many booming, energy-hungry Asian markets. In China, installed wind

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We have reached a disturbing moment in financial markets, where the noise to signal ratio across all asset classes is probably at an all time high, the August effect notwithstanding. Never has it been more important to adopt a strategic mindset to investing, rather than stampeding after the latest momentum trade without a shred of conviction. I've been a skeptic on economic decoupling, and had bet the right way on the dramatic reversal in the dollar (where I strongly suspect we saw discreet US intervention last week, possibly as a quid pro quo to the Gulf States/Saudi for maintaining their dollar pegs after recent visits by Hank Paulson). I'd advised a short on oil and other commodities, where the deteriorating outlook triggered a sudden slump, but I fear that equity markets are still dangerously complacent as to the risk of the brakes slamming on global growth. We will probably ...