Recommendation Updates

Follow the latest news on active Turnaround Letter purchase recommendations.

Banks / Mid Cap / Diversified Financials / Insurance

Old Republic Supervision Order Issued

On January 20, 2012, Old Republic International Corporation (NYSE: ORI) announced that its subsidiary, Republic Mortgage Insurance Company (RMIC) has been ordered into supervision by the North Carolina Department of Insurance (NCDOI). Pursuant to the Order of Supervision, RMIC is to reduce the cash payment on all claims paid after January 19, 2012, by 50% for an initial period not to exceed one year. The remaining 50% will be included in the statutory capital of RMIC to be paid at a future date as and when necessary funds are available. While the order remains in effect, the run-off of the business in these circumstances renders a collateral event of default with respect to ORI's existing debt obligations less likely due to any future impairment of the regulatory capital and concomitant receivership of RMIC. Under the Order, RMIC continues to manage the business through its employees, and retains its status as a wholly-owned subsidiary of its parent holding company, Old Republic International Corporation.

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Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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EV/EBITDA: What Is It & Why Are We Using It More?

In reading recent editions of The Turnaround Letter, you have probably noticed that we are increasingly using EV/EBITDA as a valuation measure, rather than the better-known price/earnings multiple.  We thought it might be useful to describe this measure and why we like it.

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Turnaround Letter Stock Pick Named Top Performer of 2017


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What Last Year's Top Stock Pickers Are Buying in 2018


This Forbes write-up follows up on the recent Top Stock Tips report--naming The Turnaround Letter's Crocs recommendation the top performer of 2017: With 90% gains, CROX beat out 100 other investment ideas included in the report; and the stock continues to have value investing appeal, according to Putnam.


George notes, "We see additional upside for the stock in 2018 as management's efforts continue to bear fruit, though the gains will likely be more muted than we saw in 2017."