Siemens (NASDAQOTH:SIEGY) is a major global industrial giant, but in the past that has not always been a good thing. In recent years, Siemens has been called "too idle" and "too slow" by insiders and investors. However, with the appointment of new CEO Joe Kaeser late last summer, Siemens already seems much more nimble, more proactive, leaner and more attractive, especially with a patent portfolio topping 60,000 patents.

I continue to be excited about Siemens' commitment to wind energy and believe this area could be a big growth story in 2014 along with new energy management systems for distributed resources. I'm also very intrigued by the company's grid alliance with Spain's Iberdrola to focus on adding renewable energy to the smart grid in the Middle East. Additionally, Kaeser was formerly the finance director for Siemens so I'm expecting the company to begin to boost margins across business segments, something that has plagued the company in the past. 

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John Licata has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway and General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.