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Investing in Turnaround Stocks with The Turnaround Letter
The Turnaround Letter is a monthly newsletter that makes money for its subscribers by providing investment insight, advice and stock purchase recommendations. Written for more than 30 years by George Putnam, III, The Turnaround Letter has had the longevity and proven track record necessary to gain the confidence of thousands of investors and industry experts.
- The Turnaround Letter's 2017's closed out stock picks gained an average of 37% to date (through 5/31/17).
- The Turnaround Letter's closed out stock picks from 2002 through 2017 have gained an average of 64% (through 5/31/17).
- Since inception, the annualized return on The Turnaround Letter's monthly stock purchase recommendations is 11.6% vs. the S&P 500's 10.5% (as of 5/31/17).
- The 15-year annualized return on The Turnaround Letter's onthly stock purchase recommendations is 10.3%, vs. the S&P 500's 7.5% (as of 5/31/17).
- A $10,000 investment in Turnaround Letter stock picks 15 years ago would be worth more than $45,300 today.
With your subscription you’ll receive George’s exclusive “Pick of the Month” along with articles highlighting stocks that have great turnaround potential. You’ll also gain access to the entire online archive of Turnaround Letter issues, picks and industry insights.
Meet George Putnam
A graduate of both Harvard Law School and Harvard Business School, George first became involved with distressed securities as a corporate bankruptcy attorney in the late 1970’s. Later he founded New Generation Research, Inc. and started publishing The Turnaround Letter in 1986.
The 10.3% annualized return (as of 5/31/17) on his Turnaround Letter stock recommendations over the last 15 years makes The Turnaround Letter one of the top-performing investment newsletters for that period of the approximately 200 on the market today. Putnam has been recognized as USA Today’s "Investment Advisor of the Year" and is frequently quoted in numerous financial publications and news outlets including the following:
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George's Stock Picks
Despite this large cap stock pick’s problems, its brand and core franchise remain strong: The restructuring efforts are beginning to show promising results although the pace remains slow. Costs are coming down, and the company is seeing better net inflows. Overall management is tighter; plus, capital raises have bolstered the balance sheet. While the shares carry significant risks due to the leveraged nature of operations and its sensitivity to the capital markets, we see considerable upside potential if the turnaround is successful. There’s also the added bonus of dividends: Although the annual dividend yield may vary, it is currently generous and will compensate investors while they wait for results to improve further.
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After a period of finger-pointing, this large-cap is now focusing on improving its business. The iconic automotive manufacturer has replaced key leadership, cooperated with investigators and continues to settle claims. New management has developed a reasonable plan to increase profit margins and reduce the company’s capital intensity while maintaining a steady new product cadence, and potential improvements in its governance could further boost shareholder value. The company's brands appear largely undamaged and business is growing. We believe this stock pick appears to be on the road to potential recovery.
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Turnaround Investing Blog
Because of special tax law provisions that exempt the territory’s debt from not only federal taxes but also state taxes in every state, the bonds are widely held by investors across the country. Since the legal action is under a new law that has never been tested, there is tremendous uncertainty about how much creditors will recover and how long the process will take, but there may be opportunities for stock investors to profit from the island’s restructuring as well--perhaps with less downside risk than in many of the bonds. We found four public companies based in Puerto Rico that could benefit from stabilization in the island’s finances as well as three major insurance companies with exposure to Puerto Rican debt.
Investing in Post-Bankruptcy Stocks
Post-bankruptcy stocks represent an interesting investing sector because they operate in such an inefficient niche and often move independent of the overall market. Even though many companies take advantage of the Chapter 11 process to reshape their businesses and balance sheets to emerge as a stronger and more competitive entity, investors are often biased against post-bankruptcy situations because of their troubled past. Learn more.
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