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Rio Tinto, our Sale Recommendation for May 2018, generated a 108% return for our subscribers.

"Over the last 20 years, according to my firm’s performance tracking, the Turnaround Letter has produced a 10.4% annualized return, versus 6.8% for the Wilshire 5000 index’s W5000." - Mark Hulbert, MarketWatch

The Turnaround Letter's return on stock purchase recommendations over the past 15 years (through 4/30/18) was 13%—vs. the S&P's 10.3%.

The contrarian rational is that investors overreact in the face of bad news. This gives turnaround stocks plenty of rebound potential even when their profit picture proves mediocre.

The Turnaround Letter sale recommendations returns have averaged 45% in 2018.

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

The 2018 Turnaround Letter YTD return through 4/30/18 is 13.8%.

"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 focuses on out-of-favor companies with real value that are undergoing significant positive change.

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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 through 2018 (to date) closed out stock picks gained an average of 52% to date (through 6/30/18).
  • The Turnaround Letter's closed out stock picks from 2003 through 2018 have gained an average of 58% (through 6/30/18).
  • The 15-year annualized return on The Turnaround Letter's monthly stock purchase recommendations is 12.5%, vs. the S&P 500's 9% (through 6/30/18).
  • Since inception, the annualized return on The Turnaround Letter's monthly stock purchase recommendations is 12.7% (through 6/30/18).
  • A $10,000 investment in Turnaround Letter stock picks 15 years ago would be worth just under $60,000 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 12.5% annualized return (through 5/31/18) 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

July Recommendation

This month's purchase recommendation is one of the country’s largest packaged food companies. Investors eagerly anticipated its initial public offering, but were soon turned off. The company’s challenges are real. But investors seem to be more focused on the past than on what the company is doing now to improve.

Learn More »

June Recommendation

This company is a consumer products conglomerate with a diverse portfolio of widely-recognized brands. The company’s growth-by-acquisition strategy has succeeded in making them a bigger company. But it hasn’t made it more valuable to shareholders. Nevertheless, we think the company’s highly recognized brands will fetch more than management’s expectations.

Learn More »

Turnaround Investing Blog

Lessons from the 1st Turnaround Letter of 32 Years ago

In July, 1986, exactly 32 years ago, George Putnam sent the first Turnaround Letter to subscribers. Technology back then seems like the Stone Age, with hard copy research and primitive CompuServe dial-up service. Wall Street ignored turnaround stocks back then and continues to ignore them today. While technology has changed immensely in 32 years, The Turnaround Letter’s philosophy of selecting out-of-favor companies on the verge of turning around hasn’t changed. Our timeless process helped driven The Turnaround Letter’s independently-verified market-beating returns. 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. 44% Gains