Discover The Top Five Turnaround Stocks for 2017
Download this free report to read which value stocks George believes are primed for significant turnarounds in 2017.
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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 12-month trailing returns (as of 3/31/17) are 27.6%--vs. the S&P 500's 19.7%.
- The 15-year annualized return on our monthly stock purchase recommendations is 12.3%, vs. the S&P 500's 7.0% (as of 3/31/17).
- Since inception, the annualized return on our monthly stock purchase recommendations is 12.1% vs. the S&P 500's 10.6%.
- 2017's closed out stock picks gained an average of 37% (as of 3/31/17).
- A $10,000 investment in Turnaround Letter stock picks 15 years ago would be worth more than $56,963 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 12.3% annualized return (as of 3/31/17) 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
This mid-cap has many of the key traits of a successful spin-off--including healthy revenue, profit margins and cash flow, and its former parent bestowed it with a solid capital base. The leadership team is impressive and the stock pick comes with strong R&D, marketing and regulatory capabilities. While valuation is not cheap on an absolute basis at 20x 2017 earnings and 12.7x 2017 EBITDA, the stock trades at a considerable discount to its peers and to what we believe is a reasonable price given its attractive positioning. While not strictly speaking a turnaround, this pharmaceutical stock looks quite cheap relative to its potential.
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This turnaround investing opportunity's game plan looks promising, debt maturities are minimal through 2018 and cash flow is already showing significant improvement. Margins are likely to expand quickly with new revenues because the company’s cost structure will be lean. In addition, $1.7 billion in net operating loss carryforwards (NOLs) will largely eliminate any income taxes for several years--and if management can’t get results back on track, this value stock pick could be an acquisition target for healthier competitors.
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Turnaround Investing Blog
Investors here in the United States usually have plenty of turnaround opportunities to invest in; yet change is everywhere, and the trends that affect American-based companies can affect companies all over the globe. Just like many companies here, issues surrounding governance, scandals and complacency can create the need for new leadership and strategic re-positioning no matter where a firm is based. Since many of the foreign stock markets have not been as robust as the U.S. market in recent years, the stocks of some of these international turnarounds may be more compelling values right now compared to their U.S. counterparts.
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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