Our feral child

We found this cave-child while we were camping near Olallie Lake.

Backpacking at Olallie Lake

Our fourth backpacking trip of the season was in the Olallie Lake Scenic Area, one of my favorite places in Oregon. [This photo is from the Redwoods; haven't had time to download the Olallie Lake photos yet.] Olallie Lake is about 2.5 hours from Portland, and the trail starts at the Olallie Lake resort. We arrived at around 6:00 on a Friday, and since there were several other cars at the trailhead, we decided that Jeff should run ahead to check out the camping situation (we weren't sure which lake to head to - Timber Lake or Top Lake - or how many spots were at each lake).

"Olallie" means berry, and in August the trails are lined with huckleberry bushes - some with big powdery blue berries; some with dark purple, almost black, berries; some with tiny little red berries. They are all about two feet tall - just the right size for a two-year-old who could happily consume huckleberries for weeks on end. I purposely did not point out the huckleberries to Melina because I knew we wouldn't be going anywhere once she discovered them; and surprisingly, she didn't immediately realize they were. She hiked almost the entire 1+ mile to the campsite, stopping occasionally to point out a pine needle or a rock, and constantly asking "what'sat? What'sat?" Eventually we came across another group of hikers who commented on all the huckleberries and showed them to Melina. After that, progress was slow.

Once Jeff took off to find us a campsite (stashing his backpack behind a rock), it was just Melina and me in the wilderness. Even though there was no-one around, the trail was easy, there was plenty of light, and I had a good map and knew where we were going, I was a little nervous. During our last four backpacking trips I've had plenty of time to ponder all of the things that could go wrong during a trip:

• Angry bear could attack.
  
• Angry mountain lion could attack.
  
• Mosquito could carry West Nile virus, causing extended suffering.
  
• Tree could fall on tent (this happened to me when I was eight years old).
  
• Earthquake could cause rocks and trees to fall on hikers, tent.
  
• Melina could fall off a cliff.
  
• Melina could drown in a lake.
  
• Jeff or Melina could get lost. (I'm not worried about ME getting lost).
  
• Crazy mountain man or Yahoo could attack.
  
• Forest fire could trap us. (We were hiking at Olallie Lake when a large forest fire started once, so this fear is not completely unfounded).
  
• Unknown creature could grab leg while swimming in the lake.
  
• Giardia.
  
• Could experience heart attack while jumping into cold water.
  
• Jeff could get leg pinned between two boulders while searching for firewood, etc.
  
• UFO could hover over campsite, abducting occupants. (This seems completely real late at night under the spreading stars).
  
• Nuclear war could erupt and we wouldn't know about it.
  
• Could find dead body in remote location.
  
• Melina could freeze or suffocate in her sleeping bag (requiring me to check on her frequently during the night).
  

OK, so some of these are more likely than others. I've realized that being out in the (somewhat remote) wilderness is a good way to examine your fears and figure out which ones are worth the effort. In the end, none of these things happened, though I was a bit concerned about a "nearby" forest fire (actually about 60 miles away) that sent smoke our way when the wind was from the east.

Jeff found us a nice spot on Timber Lake. There were a few other parties there during the weekend, and we saw quite a few hikers during the day, but everyone was friendly and polite and there wasn't too much negative Yahoo energy. On the second day we did a loop hike and bushwhacked down to a couple of lakes that had no trails leading to them. We found some nice campsites on these remote lakes and plan to return; I'm pretty sure we would have the lakes completely to ourselves, even on a busy weekend.

Melina did great, as she has always done on hiking trips. I think she's a born hiker. She slept well, only waking up once on Sunday night; she climbed like a mountain goat over rocks and trees; she played in the dirt to hear heart's content and found new ways to pass the time with her little Playmobil people. I've found that's actually easier being with Melina when we're out in the wilderness - because there's less that I have to do, because Jeff is always around, and because she entertains herself really well. She becomes this self-reliant, confident, able-bodied kid who barely resembles the two-year-old I was afraid she might be. She's a pretty cool kid!

Backpacking baby

We have gone on four backpacking trips with Melina this summer, and it turns out that she's a natural. I don't know many two-year-olds who can hike a mile over rocky terrain... but then again, I don't know many two-year-olds at all, so maybe this is normal? Anyway, in late July we went on a weeklong trip to the Redwoods, with two two-night backpacking trips separated by two nights at the Patrick Creek Lodge. The first trip was a one-mile hike down to Redwood Creek, a beautiful, clear creek hemmed in by tall redwood stands. The water level was low, so you could hike for miles along the gravel bars, wading through the water when necessary. It felt very remote and wild; a bear crossed our path as we drove in on a gravel road. The stream was full of caddis fly larvae (a sign of a healthy stream) and baby trout, and we saw some interesting new bugs, including a little inchworm with big black eyes and a giant green grasshopper.

Redwood Creek is a great place to backpack with kids. The trail in is rather steep, but short; there are lots of hollowed out redwoods to play house in; the water in the creek is pretty shallow and not too cold in July; and because you're camping on gravel, there's a minimum of dirt. (Nevertheless, Melina managed to get completely filthy several times over).

Our second backpacking trip was along the Doe Flat trail to Buck Lake in the Six Rivers Recreation Area. This trail was 1.8 miles long, and the early stretches had some scary cliffs, so Melina rode on Jeff's shoulders much of the time. Other than that, this was another great trail for kids. The first day we had Buck Lake all to ourselves - just us, a tame doe that broke into our bag of gorp and continued creeping around the campsite at night, some chipmunks, and a bear (briefly) splashing in the lake the following morning. It was absolutely silent - almost too silent for someone used to hearing fans and air filters blowing at night. The second night, a large family showed up and camped on the other side of the lake. Even though they were fairly quiet, their presence brought out my xenophobic tendencies and I realized that I'd really like to go backpacking somewhere where you don't see other people. Isn't that the whole point of backpacking? Of course, when you can only go a mile or two in, you don't get all THAT remote.

While we were in the area we went on a day hike to Devil's Punchbowl, a higher elevation alpine lake three miles from our camp. We actually never made it to the lake because the trail became more and more rocky and steep, my fear of heights kicked in, and neither Jeff or I thought it was safe to continue on with Melina in the backpack. So instead we found a hidden pool, populated only by a garter snake, and had lunch there. Jeff skinny dipped and I stuck my head under a waterfall, and we were all entertained watching the ants carry away pieces of our lunch. On the way back, Melina developed some strong preferences about pine cones and kept asking for different pine cones along the way. There were some huge ones there, including Ponderosa pine cones that were about ten inches long.

One other thing: on our hike in, we saw a creature that I could only identify as a mountain beaver. Who knew there was such a thing as a mountain beaver? I learned about it in a wildlife book I bought at the ranger station office. It's not a beaver at all - more like a large fuzzy loaf of bread. I staked out a mountain beaver colony for a while in the early morning, but I didn't see a thing.

Melina's third Country Fair

It's hard to believe that Melina's only two and has already gone to three Oregon Country Fairs (the first when she was only three months old). The first time we used my parents' VW bus; the second time we camped; and this time we camped again. Next time I intend to use my parents' trailer (hint hint) because I just don't know if I can take another stretch of three sleepless nights, laying there in the tent listening to drunk twenty-somethings whoop around the camp at 3:00 a.m. That part just isn't fun anymore. Especially since I am essentially tent-bound at 11:00, trying (unsuccessfully) to sleep because I know that Melina will be waking me up at 7:30. (Jeff can stay out later because he seems to thrive on less sleep). Oh, the exquisite joy of being kept up until all hours, only to be woken at sunrise by a car alarm going off, somebody's baby screaming, or my own daughter wanting to jump on the bed.

I have to admit there were times during this OCF that I felt like I was just too old for this anymore. Or too something. (Nevermind the many aging hippies who thrive in that environment.) I told someone that it seemed less magical to me this time, and they pointed out that I had spent several days chasing a two-year-old around. Oh, yeah. During the 20 minutes when Jeff and Melina got lost trying to find the kids' area, it DID feel kind of magical. With a two-year-old there's never any time to actually get INTO anything, or relax, or go to a talk, or focus on the music...

Oh well. It was fun to watch Melina having fun. She LOVED it. She talked to lots of people, and ate corn on the cob, and ate tamales, and drank huge amounts of lemonade, and climbed on things, and rolled in the dust, and played with our friend's three sons, and darted out into the road, and got to sleep in a tent, and saw horses, and rode in a yellow school bus, and admired the water truck, and swam in the muddy lake, and saw a big striped bug, and ate illicit jellybeans for breakfast, and pretty much lived on fried things and sugar for a while. She even sat still long enough to watch some bellydancers, and part of a puppet show, and part of a couple juggling shows. By the end, she looked like a brown dusty little hippy baby who has never had a bath. (I took a shower at the fair for $8; Melina stood on a stool and mixed up the shampoo and body soap so I ended up washing my hair with Dr. Bronner's).

There were a few sweet moments after Melina went to bed where I got to roam around Zumwalt (our campground) with friends. (Usually that was when Jeff was putting Melina to bed, or shortly afterward. We did have about half an hour together when a friend babysat for us). Jeff's friends Monica and Cipriano were there, and I really enjoyed talking to them, sitting by the big bonfire and listening to music. Sibelia and Simon and their three sons camped next to us, and Jeff's friend Chris was also there. It was nice hanging out with them all. Zumwalt is great because it's next to Fern Ridge Reservoir, which cools the air in the evening and at night; and the same people go there year after year, so a community forms. A couple of my coworkers have started going there, which is nice.

Next time, if we go (and I'm sure Jeff and Melina will want to), I am going to bring a) ear plugs; b) my parents' trailer; c) sleeping pills and d) an eye shade. And a nanny. And THEN I will feel the magic.

Our first egg!

Today one of chickens laid her first egg, a nice little brown specimen, very clean and perfect looking. I'm not sure which chicken laid it, but this morning I did this "thing" that I learned on the Portland Backyard Chicken group where you sort of tap their backs and they hunker down if they're going to start laying eggs soon. Dolly and Abigail both hunkered down (Martha didn't), so I think it was one of them. Apparently this "hunkering" has to do with showing the proper respect towards a rooster.

We went to the Country Fair this weekend and it sounds like the chickens had a wild time in our absence. They wandered into our neighbor's yard for the first time ever (of course it had to be the neighbor who isn't crazy about chickens) and then they were let loose for several hours by a friend of one of the neighbor girls. Their mom didn't know the chickens had been let out until about 11:00 p.m. She came over here to search for them and couldn't find them anywhere - apparently she even went under the porch with a flashlight and drove around the neighborhood looking for them. She didn't sleep too well that night (and neither would I have if I had known!) but the chickens were found safe and sound in the garage the next morning. I think, given the number of poops I found, that they had slept under the wisteria vine on the deck. It's a very secure spot where they're almost invisible. Also, I should note that the little girls spread chicken feed all over the yard to try to lure them back to the coop. So now the yard is a patchwork of dead grass and chicken feed. I think we should just start over with it in the fall.

Tonight I worked on putting together a permanent pen for the girls to use when we're out of town, so I don't to ask a neighbor to let them out and round them up every evening. I have sort of a quasi-run now, but it's not very pretty and it still needs a lot of work.

By the way, our camera got lost at the Country Fair, so I don't have a photo of the Egg. I'm posting a photo of a similar (Portland, July) egg instead.

(And I'll post about the County Fair soon too).

Our first backpacking trip

We went on our first official backpacking trip with Melina last weekend, to the Salmon River trail near Mt. Hood. It's a beautiful low-elevation old growth forest and a great place to backpack with a kid. The trip started out a bit rough since Melina never napped on the way to the trailhead, and had a very short fuse. She refused to stay in the baby pack (which, since I was carrying all 27 pounds of her plus some gear, was fine with me) but she also refused to hold anyone's hand on the steep parts of the trail. Jeff ended up carrying her a lot of the way. About a mile in (yes, a mile) we found a really nice spot and decided to set up camp. Melina was very excited about sleeping in a tent, and she slept pretty well. Since we don't have a three-person backpacking tent, Jeff slept in his little one-person tent and I slept with Melina in the two-person tent. (When we go for two nights, we'll trade off). Melina went to bed around 8:00 and woke up around 7:40, just like she does at home.

While she was awake, there were lots of things in the forest to entertain her. She enjoyed climbing up on logs and jumping off them, looking for wild strawberries, throwing rocks in the river, staring at bugs, walking across the little stream near our campsite, and running down the forest trails. Jeff also got to take a dip in the ice-cold river, and I spent a nice hour sitting on some exposed tree roots in the river drinking a little airplane-sized Grand Marnier and watching the dusk gather while Jeff put Melina to bed. It's such a beautiful, wild river - obviously there has been a lot of change in the last few decades, with new gravel bars from flooding, new growth, and old stands of white alders looking like Russian birches along the riverbank. I waited for a family of Sasquatches to dart of the undergrowth to slurp water from the river, but they never came. Actually we didn't see much wildlife at all, apart from baby trout, caddis fly larvae in the rivers, crows, and a water ouzel.

Here's a recent photo of Little Miss M at a lake on Sauvie Island.

A dog in the chicken yard

The other day our neighbor's dog ran into the backyard and began chasing Abigail around. All the chickens were squawking and flying as high as they could, I was yelling, the neighbor was yelling, the dog was barking - I'm sure it was very entertaining to all the neighbors, most of whom seemed to be outside in their backyards. Luckily the dog gave up before he caught a chicken. I'm not sure if he was really set on a chicken dinner or if he was just curious and having fun, but it was a close call. I reinforced the fence and we haven't had any incidents since.

Mina do it

Melina is getting more and more independent and willful. We're definitely well into the Twos. Lately she has begun openly defying me on such issues as "can I walk on the neighbor's front porch," (not when the neighbor is home), "can I run over the kitty with my shopping cart," and "can I cross the street without holding your hand." When we get to this stage I usually get down on her level and speak to her firmly, and when she repeats the behavior I either take her home or take away the shopping cart (or put the cat out). I wonder if I should be using timeouts or some other disciplinary tool. I don't really believe in "punishment" because I think it ends up backfiring later, but on the other hand I can't let her get away with murder, either. I feel like I need to learn more about this.

There's also the question of what to do when she won't share, or when she gets in a tussle with one of her small friends. Apparently in Japan they have the philosophy that the parent never intervenes in these little dramas unless there's a question of safety. I kind of like that - let the kids work out their own problems - but if other parents don't share that philosophy then you can get into trouble. I know that two-year-olds just aren't into sharing, and that's that. I'll be glad when we're out of this stage. (Not that Melina NEVER shares; sometimes she willingly hands over crackers or toys - but she definitely has a strong sense of property rights!).

A trip to Foster City

I went down to Foster City, California, this week for work. I have to say it was a pretty boring trip. Usually we all go out somewhere interesting for dinner, but this time the energy never manifested and we settled for cocktails and hors d'oeuvres in the hotel bar. The committee meeting I staffed was kind of boring, too. But Melina and Jeff had fun while I was gone, and Melina got to see lots of planes at the airport. The big ones are called "Mama planes." I guess that means the little ones are baby planes. I was glad to come home.

Our first farm box

We received our first farm box (well, bag) today from Sungold Farm. As I mentioned before, Molly & I are splitting a share. We loaded the girls into Molly's red Radio Flyer wagon and wheeled them over to the park, where the farmer was delivering. Today's delivery included Hood strawberries (the best tasting of all), fava beans (which I plan to grill on Sunday), sugar snap peas, snow peas, rhubarb (which I traded with Molly for more fava beans), flowers, and bok choi. I stir fried the bok choi with garlic & sesame oil, and it was delicious. I can already tell this is going to lead to more vegetable consumption chez Melina.

Speaking of Melina, when we got the park she insisted on going down the Scary Slide several times. It's a very tall, old-fashioned, twisty slide that I'm sure many children have fallen from throughout the ages. Melina loves it. She is fearless, and she loves slides. The other day she figured out how to go down a baby slide backwards, sitting up. She also recently enjoyed coasting down the neighbor's driveway backwards on her trike. I fear.... I fear.

Turns out chickens aren't very smart.

I let the girls out this evening to see if they could figure out how to get back in their coop at dusk, which chickens are supposed to do. After about an hour of happy pecking in the yard (while I had a glass of wine and soaked my feet in the kiddy pool), they started a low peeping that got increasingly more urgent as the sun went down. They went over to their coop, then came back toward me, then went back to the coop, then came over to me again. If chickens could talk they would definitely have been saying "How the heck do we get back in the coop?" Well, you could go back in the way you came out, but I guess that's too obvious. I herded them over but they still couldn't figure out how to get in (and I have to say, in their defense, that the coop is backed up against some bushes so the door is kind of hidden; but they could have gone through the top, too, which was wide open...) Anyway, I was getting tired of the game, so I caught them all one by one and put them in. I wonder if they would have ever figured it out?

Dolley, the barred rock, is so tame that I can carry her around and pet her now. The other two are little more jumpy. I think Martha Washington, the golden-laced Wyandotte, is the dominant chicken, though it's hard to say. She keeps ruffling her feathers like you would think a dominant hen would do.

By the way, I have now informed all of my neighbors about the chicken project. Three of them were enthusiastic and one said "yuck," but I think she's coming around. (Interestingly, all of my neighbors are single women. Not that that has anything to do with chickens.)

My parents asked me to post a recent photo of Melina on the blog, so here it is. This was taken at Wahclella Falls on Mother's Day/Jeff's Birthday.

Welcome, baby Rebekah!

Our friends Aaron & Brenda are the proud parents of the sweet little girl pictured here. She is a really adorable little thing, 7 lbs. 7 oz. at birth. Funny to think that she and Melina will probably end up being friends. Welcome Rebekah!

The chickens go out

Last week the chickens went on their first excursion out of the coop. This is a photo of them thinkng about leaving the coop, but not really doing it. The first day I decided to let them out, they all refused to go except Dolley, who then spent most of the time worriedly conversing with her sisters on the other side of the chickenwire. The next day I tried again and they all came out and spent a good hour wandering around the backyard in close formation. Molly and Amanda, our neighbors, were over, and Melina and Amanda played in the kiddie pool while the chickens pecked around them. Then Molly's husband showed up, and then the construction guy came to work on the garage, and then Jeff showed up - it was a regular party at the farm. I have to say it's pretty funny seeing three chickens running around in the backyard. All we need is a goat or a pony to complete the effect.

Boondang!

For several months now Melina has been really into construction equipment (I think it started when Jeff rented a little frontloader for the garage work). Now whenever she sees a construction crane or construction equipment of any kind she says "Boondang!" or maybe "Boomdang!" Now we're all in the habit of exclaiming "boondang!" whenever we go by a construction site.

Here's the daddy!

Lately Melina calls Jeff "the daddy." Yesterday when he drove up she yelled "Here's the daddy!" Sometimes she'll say "Where's the daddy? There it is!!" I can't correct her because it's just too freakin' cute.

Lately she's also been saying "songing" instead of "singing," as in "more songing?" She also has musical preferences already. We were on a car trip this weekend and when we'd put on music she'd say "different baby song? Different baby song?" She seems to know which music is "baby songs," but she prefers reggae over just about everything else.

She also says "yeah" to just about everything. You can ask her just about any question (Did you see Elvis at the playground today? Are you a Martian?) and she'll say "Yeah," in a really knowing way. It's hilarious.

Our family holiday

Yesterday for our family holiday (Mother's Day plus Jeff's birthday) we took a hike at Wahclella Falls, a pretty waterfall not too far from Portland. The first quarter mile is a nice wide, flat gravel path (probably an old road) that was perfect for a running toddler. Then the trail got more steep and narrow, with big drop-offs, and we had to force - er, put - Melina in the backpack. For about five minutes she kept up a steady "out! out!" interspersed with general whining. Then I gave her part of a chocolate energy bar, and she was content until we reached the falls. [This raises the question of how we will manage backpacking this summer. I think we all want to do it - even Melina, who gets excited about a hike - but we won't be able to go very far if Little Miss M refuses to go in the backpack herself.]

When we got to the end of the trail, we let Melina out so she could crawl around on the smooth river rocks by the creek. She and Jeff threw rocks into the water while I took pictures. What is it about little kids throwing rocks in the water? We went hiking with six (count 'em - SIX) little boys last weekend (OK, so one was two months old) - but their main interest was in throwing boulders down cliffs and into the river. That, and playing with toy swords. Melina isn't so much into dislodging boulders yet, but she really enjoys throwing rocks and making big splashes.

After the hike we went to McMenamins Edgefield for brunch. Our reservation was at 3:00 and we didn't get there until 3:30, but this ended up being a good thing because it meant we could sit outside on their beautiful lawn under the clearing afternoon sky. We had the outdoor tables almost to ourselves, and Melina enjoyed running around randomly with a piece of bacon in her hand. I took a little break from my diet and enjoyed a truly marvelous Belgian waffle and a couple of mimosas, along with other typical brunch options. Yum! Afterward, we toured the grounds, Melina climbed up and down stairs, and she and Jeff played chase in the herb garden. All in all, a lovely day.

A room of her own

I am happy to report that Melina now has her very own bedroom. Until now, she has been sleeping first in our bed, then in a crib in our room, then in a crib in a nook off our bedroom. All of those arrangements meant that we had to be very quiet and very dark after 8:00 or so. Now Miss M is happily ensconced downstairs in our former guest room. I think we waited until just the right time to move here there. She's into the possessive stage, where she doesn't want anyone else to play with her toys (unless she gives them over herself). I think she likes the idea of having a room that's all hers. (Last week I made her a teepee out of a blanket and she pushed me out of it, saying "get out!" I didn't take it personally). She's transitioned really well. The first morning she woke up at 4:00 (and eventually ended up in our bed); the second morning she didn't wake up until her usual time. Today she woke up at 5:30 and I brought her in bed so we didn't have to go through a Monday-morning screamfest. I think she'll soon get used to waking up in her own room. Going to sleep there is no problem - she seems almost eager these days!

Octopus Jenny's Wind Energy Investment Report

(I did this research for a friend who was curious about wind energy investments. I'm not a pro; I just did this for fun and thought my other friends might be interested, so keep that in mind as you read...)

Wind power is the fastest growing energy source in the world. However, it is hard to invest in pure wind energy because many small companies are privately owned, most public companies are located in Europe, and the bigger companies (like GE) often do other things that progressive investors don't want to touch. (For example, GE Wind only makes up 1.5% of GE). Investing in wind energy is complex because wind companies range from turbine manufacturers (like Vestas) to parts manufacturers and utilities. In addition, the wind energy market in the U.S. depends on the existence of tax credits that serve as an incentive for wind developers and buyers.

Investing in Individual Stocks: Too hard, too risky for folks like us.

Aurora Investment News writes, "[This] kind of growth usually presents interesting opportunities for investors. But traders in the U.S. will find it frustrating to get in on it. The main reason is the mere absence of stocks available for U.S. investors."

Currently, most large, public wind energy companies are located in Europe (Denmark or Germany), and are listed on foreign stock exchanges. Germany has the largest wind market in the world.

Although there are two small U.S. based wind energy companies, they both have major drawbacks. U.S. Wind Farming (USWF.PK) is a penny stock that had a "nasty run-in" with the Securities and Exchange Commission. Western Wind Energy (WNDEF) is trading at $0.96 and has no apparent revenue.

According to Progressive Investor, the wind market is dominated by 10 major companies:

• Vestas (VWSYF.PK) - Danish company. The world's largest wind turbine manufacturer. 34% of market. Considered a "good long term investment" by Progressive Investor. However, Vestas is not listed by Charles Schwab (see below).
  
• Gamesa (GAM.MC) - Spanish company starting operations in the U.S. 18% of market. Considered a "good long term investment."
  
• Enercon (ENDC.PK) - Germany company. 15% of market.
  
• Nordex (NRDXF.PK) - Germany company. 2% of market. Considered a "good long term investment."
  
• GE Wind. 11% of market. (Impossible to invest solely in this sector of GE).
  
• Siemens. 6% of market. (Impossible to invest solely in this sector of Siemens).
  
• Suzlon. 4% of market.
  
• REpower. 3% of market. Considered a "good long term investment."
  
• Mitsubishi. 2% of market.
  
• Ecotecnia (Spain). 2% of market.
  

Other companies include:

• NEG Micon (NEGMF.PK) - Danish company
  
• Bonus (BONU.CO) - Danish company (appears to have been bought by Siemens)
  
• Accionia (ANA.MC) - a wind developer. Considered a "good long term investment."
  
• Novera (NVE.L) - a wind developer. Considered a "good long term investment."
  
• Boralex (BLX-A.TO) - a wind developer. Considered a "good long term investment." Their website points to the Boralex Income Fund - worth looking into later.
  
• Canadian Hydro Developers (KHD.TO) - an independent utility that develops and owns wind farms and market the electricity. Considered a "good long term investment."
  
• Clipper. Considered a "good long term investment." (But shares are not currently available to US residents, even though they are located in California).
  

Since most of these are foreign companies, they must bought "over the counter" using "pink sheets." (See this for information on how to buy OTC stocks).

What are Pink Sheets?

From what I can tell, buying something on the "Pink Sheets" is like going into a dark alley to buy drugs. The "Pink Sheet" is an electronic system published by Pink Sheets LLC that lists penny stocks and other OTC securities. Apparently, it's where good companies go to die. Companies listed there do not have to fulfill any requirements (audits, etc.) like they do to be listed on the NYSE and NASDAQ. The SEC sees companies listed on Pink Sheets as "among the most risky investments" and advises potential investors to heavily research the companies in which they plan to invest. However, some reputable foreign companies (Heineken, Volkswagen, Nestle) are also listed on the pink sheets. ("While these are hardly fly-by-night businesses, investors should still take extra care, because European accounting and disclosure laws are different.")

From Wikipedia: "Buying Pink Sheets shares is supposed to be difficult; broker-dealers are enjoined to weed-out "widows and orphans" who may get an e-mail or word-of-mouth tip about a small stock." (Does that include us?)

To buy a stock from the Pink Sheets, you must get an account with a brokerage firm. Schwab does not sell Vestas stock. Other brokerage firms include E*Trade, Ameritrade, Accutrade, etc. (I briefly had some stocks through a broker and found that their fees were way, way too high to justify my small amount of stock.)

Cautions about Vestas (from Aurora Investment News, undated)

This year, [an analyst] estimates Vestas' revenue growth will slow to 6%... Vestas is also trying to broaden its reach into the U.S., winning a contract to supply Horizon Wind with 127 mills for the Wild Horse project in Washington state. Vestas is building a factory in China to supply the U.S. market.

While recent earnings have been stronger than analysts were expecting, Vestas still faces a number of obstacles ahead. ...The company faces quality problems in some of the turbines it recently shipped, it's suffering a supply bottleneck and component shortage among its suppliers, and competition is growing among Gamesa, GE Wind and New Dehli-based Suzlon.

"It will take time for Vestas to solve these problems," Frederiksen said, noting that the risks "are in our view not discounted in the currently high share price." Vestas' shares have only risen further since his report was issued last month.

Such caution is essential in a sector where certain growth attracts competitors who compete on price and innovation to gain an edge. A correction in Vestas' price might provide a good entry point should the company fix the problems facing it. That leaves Gamesa as the prime candidate for now.

Wind power is an industry that will continue to grow, if only because governments are willing to subsidize the technology as the only real viable alternative energy that can be easily deployed on a large scale. But extra caution is needed: Not only are most players based abroad, but the fortunes in the industry can change as fast as the wind itself.

Investing in Mutual Funds

I've found three mutual funds that invest in wind energy. There are probably more, but this is all I had time for for now.

Portfolio 21 (PORTX)

Portfolio 21 (PORTX) is a Portland-based socially responsible investment fund that focuses on energy. Three-year returns have been about 15% (though in 2006 they were 24%). PORTX's Morningstar rating is 3 stars (out of 5). Schwab lists it as "average return, above average risk." I generally try to pick stocks where the return is greater than the risk (using the simplified Schwab symbols), so this is not one I would normally pick. In addition, out of their top 10 holdings, only 4 seem to have anything to do with wind, though the other companies might be peripherally related to wind. (They include Staples, IBM, Nokia, Siemens, Canon, and others). Every holding is under 3%, so they must invest in a huge number of different companies, but I was disappointed to see that the majority of these are not directly related to wind power. This might be OK if you wanted a local, socially responsible fund with a decent return.

New Alternatives Fund (NALFX)

The New Alternatives Fund began operations in 1982 as "the first environmental mutual fund," and the first with a significant concentration in alternative energy. The Economist called it "the greenest fund in the U.S." Their list of investments is clearly focused on the alternative energy sector. (There is some hydro in there too). This fund has a front load, which means you pay up front when you buy it (max 4.75%). The Morningstar rating is 2 out of 5. Like PORTX, it's "average return, above average risk." In 2006, the fund grew 33%, which is great; so far this year it's grown about 16%. In 2002, it went *down* 30%. (Since inception, it's grown 10%). The Reuters site gives this mediocre ratings for returns and expenses. In general, this might be OK if you weren't trying to make a lot of money but wanted to get involved in alternative energy funds.

PowerShares

These include the CleanTech and WilderHill funds that I wrote about in the previous post. (I bought the Powershares WilderHill Clean Energy Portfolio yesterday and have already managed to lose $18 on it. But it's a bad day for the market).

So what to do?

At this point, I would say forget investing in individual wind power companies until more publicly traded companies are available in the US. You could try to go through a broker to buy Vestas or Gamena if you were really committed to buying wind power. Or you could just sign up to get wind energy at home through your local utility, which isn't exactly an investment, but it does support wind energy. It might be interesting to invest in one of the mutual funds or PowerShare stocks, but it would depend on whether you're doing it to earn a lot of money or just because you're excited about wind energy. Over time, of course, these may grow a lot, so perhaps it IS the right time to invest in them. But so far they haven't had spectacular returns.