Mid Cap / Diversified Financials / Software & Services
Online financial services provider improves balance sheet and benefits from strong branding.
Purchase Recommendation - August 2012
This mid-cap prospect pioneered Web-based stock trading. After taking hits from the tech bubble burst and sub-prime crisis, the company has made good progress on a number of fronts. The Turnaround Letter feels its strong brand recognition and delinquent loan shrinkage make for an appealing turnaround investing opportunity.
George Putnam's Favorite Stocks for 2016
Turnaround Investing Blog
Negative media headlines can be a great source of turnaround ideas. Stories about struggling companies, management turmoil, failed strategies, large financial losses, industrial accidents, lawsuits and the like can drive a stock to well-below reasonable levels and may provide a buying opportunity. Like all Wall Street axioms, however, “buy on bad news” must be accompanied by careful analysis to evaluate the potential for turnaround success.
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The Turnaround Letter's 15+-year returns were 11.2%--vs. S&P's 5.1%
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2016's Closed Out Purchase Recommendations Averaged 60% Stock Profit
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Banking on a Financial Sector Turnaround
MoneyShow.com recently tapped George's favorable opinion for a banking industry rebound. In "Turnaround Expert's Banking Bets," Steve Halpern highlights a trio of Putnam's top stock picks from the battered financial sector.
George reminds value investors: "Fortunately, many of the factors...just aren't present in the market, and the other reason that investors seem to be down on the banks is they sort of expected the Fed to raise interest rates a little faster than they have. And the banks do better when interest rates are rising because they have wider margins on their loans, but I think the Fed will gradually raise rates to we will see profits improve, and so I think this downturn is really temporary."
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