Turnaround Investing Blog

George Putnam, one of the country's leading turnaround and distressed investing professionals, shares his timely insight on the economy and turnaround investing opportunities.

Emerging Markets/International Stocks

United States of Europe?

What’s the difference between Illinois and Greece? The biggest similarity is that they are both reported to be virtually bankrupt. But the big difference is that Illinois is part of the United States and Greece is part of the European Union. 

If the state of Illinois goes bust, it won’t be great for people holding its bonds, but otherwise economic life will go on pretty much as normal for Illinois residents. Moreover, there won’t be much fallout for residents of Indiana, or Wisconsin or any other state. And nobody is likely to worry about the problems in Illinois leading to the demise of the U.S. dollar. That’s because Illinois is part of the United States, and we have a federal government that can levy taxes and a strong central bank. The European Union lacks those features, and so the problems in Greece are raising fears of economic turmoil in Europe, perhaps leading to the collapse of the Euro.

It remains to be seen if the Euro-zone countries can agree on the strong measures that it will take to stem the turmoil. In the meantime, we would be very cautious about investing in most European securities. As turnaround investors, we would normally be tempted to jump into a situation like this, but right now we find the outcome too difficult to call and the downside risk still too great.

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The Turnaround Letter Takes a Look at Activist Investors

With nearly $180 billion in assets under management, “activist” investment funds have become a powerful force in the capital markets: Nearly 40% of companies in the S&P 500 attracted activist attention in recent years. According to Activist Insight, 320 companies in the U.S. experienced an activist campaign in just the first half of 2017; but who, exactly, are these activists, what are they after, and what role do they collectively serve? Read More.

Market-Beating Profit: The 200+ Club

Turnaround stocks present a unique opportunity for savvy investors to buy in at bargain prices. Take a look at this list of just a few of our purchase recommendations that have realized a return rate of 200% or better:

Value Investing Stock Profit

* Bristow remains in our active portfolio (currently as a Hold), and 1,390% gain is as of 7/19/17.

Five Struggling Stocks That Will Turn Around

 

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Kiplinger points out that despite the post-election stock market surge, not all stocks have benefited from the uptick: "More than 100 issues in the S&P 500 have fallen in price this year, including dozens that have slumped by more than 10%....Yet these stocks won’t all stay in the dumps forever. Some will mount a comeback in 2017, making it an opportune time to try to identify the best candidates."

 

Quoting George Putnam, Kiplinger details five value opportunities for the new year.

 

Learn more about Putnam's investing success with turnaround stocks.