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Investing 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 32% to date (through 8/31/17).
- The Turnaround Letter's closed out stock picks from 2002 through 2017 have gained an average of 63% (through 8/31/17).
- The 15-year annualized return on The Turnaround Letter's monthly stock purchase recommendations is 12.3%, vs. the S&P 500's 9.0% (as of 8/31/17).
- Since inception, the annualized return on The Turnaround Letter's monthly stock purchase recommendations is 11.7% (as of 8/31/17).
- A $10,000 investment in Turnaround Letter stock picks 15 years ago would be worth more than $55,000 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 8/31/17) 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 post-bankruptcy stock’s outlook is much more favorable than the market’s view. The company is now solidly profitable; and its new leadership team and board of directors is focusing on reducing its already low cost structure, improving its mine quality, repaying debt and returning capital to shareholders. As an added bonus, its regulatory burden is unlikely to increase under the Trump administration, and management is working to present a considerably more environmentally-friendly face to the public.
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We believe the stock market has missed several critical parts of this value stock's story. Plus, its cash flow is healthy and the balance sheet, with just $395 million of debt, is only about 1.2 times EBITDA and partly offset by $90 million of cash. The small-cap also holds a surplus real estate portfolio worth perhaps $80 million. Like any contrarian stock, this month's purchase recommendation is not without risks; however, with its heavily discounted valuation and tremendous brands it wouldn't take much good news to handsomely reward shareholders.
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Turnaround Investing Blog
Watch to see if ADP’s CEO Carlos Rodriguez inadvertently helps Pershing, and his aggressive and sometimes personal stance against Ackman could backfire. Overall, because of the stock’s strong returns and Ackman’s weak credibility, we would give this activist campaign a low chance of making ADP a successful turnaround investment. For turnaround investors, the Trian campaign appears to have a win-win opportunity for investors--either Peltz joins the board and learns enough to re-invigorate P&G, or loses and management must either execute (boosting earnings and the shares) or they will face a more drastic proxy campaign with higher odds of success down the road. We think the P&G campaign could turn out well for shareholders.
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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