Bankruptcy/Chapter 11

A legal procedure that gives a business temporary protection from its creditors while it gets back on its feet

ARTICLES

We remain very cautious about high yield bonds.

High Yield Bonds: Cloudy Outlook for 2016

Last year at this time we urged caution in approaching high yield bonds. That caution proved well-founded as the asset class had a poor year.
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Court Approves ZQKSQ Restructuring

Quiksilver Plan Confirmed

The U.S. Bankruptcy Court entered an order confirming Quiksilver's Third Amended Joint Chapter 11 Plan of Reorganization.
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TCECQ Emerges

TransCoastal Plan Effective

TransCoastal's First Amended Joint Prepackaged Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection.
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Boomerang Details Liquidation

Boomerang Systems Plan Filed

Boomerang Systems and its official creditors' committee filed with the U.S. Bankruptcy Court a First Amended Joint Combined Disclosure Statement and Plan of Liquidation.
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Xinergy Reorganizes

Xinergy Plan Confirmed

The U.S. Bankruptcy Court confirmed Xinergy's First Amended Chapter 11 Plan of Reorganization.
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DOCUMENTS AND FILES

Kodak Report

Bankruptcy Investing

George Putnam's Favorite Stocks for 2016

stock picks

Distressed Investing Blog

Distressed Investing Blog

2015 Bankruptcy Recap: 46% Increase Fueled by Oil & Gas/Mining Industry--Further Uptick Predicted

Looking back at 2015, research reveals a 14% decline in overall business bankruptcies but a 46% uptick in public company Chapter 11 filings—with a striking 51% of those filings coming from the battered Oil & Gas/Mining sectors. Economic indicators point to further increases in corporate bankruptcy, in general, and Energy-related filings, in particular. Just a few days into 2016, this viewpoint has already been validated by Arch Coal's long-awaited $8 billion Chapter 11 filing—and continuing oil price plummets severe enough that OPEC will likely convene an emergency meeting to address "shattered" economies. Read More.

Your Financial Security is Serious Business...

so why should you trust The Turnaround Letter?

  • The Turnaround Letter's 15-year returns were 11.0%--vs. S&P's 2.9%
  • 30 Years of Turnaround Investing Experience & Reliable Stock Market Advice
  • 2015's Closed Out Purchase Recommendations Averaged 53% Stock Profit
  • Diverse Monthly Stock Picks Personally Selected by George Putnam

Spotlight: Junk Bond Market

stock market advice

MarketWatch's Mark Hulbert recently tapped George's distressed investing expertise to determine the fate of the junk-bond market and what its nearly three-year decline likely means for your portfolio.

 

Hulbert writes, "What’s really going on? For insight, I turned to George Putnam, an expert in distressed-company investing. His Turnaround Letter advisory service has handily beaten the stock market over the past 15 years, according to the Hulbert Financial Digest’s tracking, by an impressive margin of 7.3 percentage points a year on an annualized basis."

 

Commenting on the rapid growth of high-yield exchange traded funds (ETF's), Putnam notes, "They have become the investment vehicle of choice for short-term investors….Those investors tend to be trend followers and, therefore, are just the opposite of being contrarian."

 

Read the full MarketWatch junk-bond article to find out what George thinks these recent indicators likely mean for future distressed investing profit.