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Drew Industries is the newest member of The Turnaround Letter's growing "200 Club"—yielding 204% stock profit. Other stock picks include Builders FirstSource, Delta, US Airways & Marvel.

"For almost three decades, George Putnam has been finding value at the bottom with his Turnaround Letter." ~Money Show

The Turnaround Letter's return on stock purchase recommendations over the past 15 years (as of 1/31/18) was 12.9%—vs. the S&P's 10.4%.

Beaten down stocks with real value will prevail regardless of the overall market. We focus on stock selection not market timing.

The Turnaround Letter's February sale recommendations, tronc & Bioverative, brought readers an average of 49% stock profit.

"By focusing on out-of-favor companies, his flagship publication, The Turnaround Letter, has achieved enormous success for its subscribers." ~Barron's

During 2017 and thus far in 2018, Putnam's sale recommendations have locked in an average of 43% stock profit for Turnaround Letter readers.

"Old fashioned common sense is always worth the price." ~Subscriber Richard S.

"Are you a contrarian—someone who can see value in stocks that no one else likes? If so,The Turnaround Letter is your baby." ~Kiplinger Personal Finance

The Turnaround Letter's approach is simple: Putnam avoids the "blue chips" and "hot" stocks that most investors are clamoring to buy.

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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.

Sample Newsletter

  • The Turnaround Letter's full year 2017 and 2018 (to date) closed out stock picks gained an average of 43% to date (through 1/31/18).
  • The Turnaround Letter's closed out stock picks from 2003 through 2018 have gained an average of 62% (through 1/31/18).
  • The 15-year annualized return on The Turnaround Letter's monthly stock purchase recommendations is 12.9%, vs. the S&P 500's 10.4% (as of 1/31/18).
  • Since inception, the annualized return on The Turnaround Letter's monthly stock purchase recommendations is 12.3% (as of 1/31/18).
  • A $10,000 investment in Turnaround Letter stock picks 15 years ago would be worth nearly $62,000 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

George Putnam’s Advice for Buying Turnaround Stocks

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 12.9% annualized return (as of 1/31/18) 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:

Click the logos below to see George in the news:

  • Market Watch's Reports on George Putnam’s Turnaround Stocks
  • MarketWrap on George Putnam’s ESG Stock Picks
  • Bottom Line Inc Reports on George Putnam’s Turnaround Stocks
  • Kiplinger Reports on George Putnam’s Turnaround Stocks
  • MoneyLife Radio
  • Money Show Reports on George Putnam’s Turnaround Stocks
  • Chicago Tribune

George's Stock Picks

February Recommendation

Like all small-caps, this stock carries significant risks; but this oil & gas value investing opportunity checks many of our turnaround candidate boxes. First, it recently emerged from bankruptcy, which usually brings a discounted price but also a fresh start. Additionally, the company is led by a new CEO. Importantly, the Company has maintained its strong post-exit balance sheet and its immediate plan is to increase its strategic options by boosting free cash flow and financial strength. The stock is trading at a low 3.6x EBITDA multiple, providing considerable discount for its risks. We expect mainstream investors to gradually come back to small-cap energy companies in general and post-reorganization energy stocks in particular. When that happens, it will significantly boost this pick's valuation metrics and stock price. . 

Learn More »

January Recommendation

This mid-cap stock pick's outlook is much healthier than the stock market is giving it credit for: Despite the lackluster summer, revenues will likely be flat from a year ago; and the company's upgrade program is showing very promising results. Management is focusing its cash flow on repaying down much of its elevated debt by 2019 as well as on high-return upgrade projects and repurchasing $100 million of its shares. With no significant debt maturities until 2022, the company has considerable runway—and the generous 5.6% dividend could provide strong returns to value investors.   

Learn More »

Turnaround Investing Blog

Free Turnaround Letter Research Report: Bioverativ (NYSE: BIVV)

We're sharing this complimentary copy of our full Research Report for Bioverativ (NYSE: BIVV)—20+ pages of financial analysis, investment philosophy and straightforward explanation. BIVV, our most recent closed out purchase recommendation, brought Turnaround Letter readers 95% stock profit in seven short months. Read More.

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.

2017-18 (to Date) Closed Out Stocks Avg. 43% Gains