George Putnam, one of the country's leading turnaround and distressed investing professionals, answers your investing questions. This is your chance to find out everything you wanted to know--but were afraid to ask--about turnaround investing.
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Does the poor performance of the stock market in May indicate that the U.S. is headed for a new recession?
June 15, 2012
This question comes up frequently when the market takes a dip. While it is true that the stock market does sometimes anticipate a recession, the market is far from an accurate economic indicator. As the Nobel prizewinning economist Paul Samuelson once said, “The stock market has predicted nine of the last five recessions.” In fact, in the last few days as I was preparing to write this, the market has already staged a sharp turnaround. Bottom line: don’t try to time the market!
(Question submitted by Richard M.)
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Diverse Monthly Stock Picks Personally Selected by George Putnam
Distressed Investing Blog
Looking to cash in on timely tax loss selling and portfolio window dressing? These 10 year-end bounce stock picks represent the worst performers in the S&P 500 during calendar 2014, adjusted somewhat so that there is good diversification by industry group.
George Putnam has always followed the same straight-forward and highly-profitable investment philosophy. He published his first Turnaround Letter issue back in 1986, and readers have seen extraordinary long-term stock profit ever since.
In fact, 12 of 2014's 13 closed-out purchase recommendations saw gains--with five of those enjoying total returns greater than 100%. The Turnaround Letter's average return for 2014's stock picks is +82%:
2014 Closed Out Purchase Recommendations
* Calculation includes dividends and price changes between purchase recommendation and current price.
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