Eastman Kodak Added to Post-Bankruptcy Stock Index
Following the Company’s September 2013 emergence from Chapter 11 protection, Eastman-Kodak’s post-petition common stock (KODK) has been added to the Post-Bankruptcy Stock IndexTM (PBSI), which reflects the post-bankruptcy investing climate by tracking the 20-largest post-bankruptcy stocks within the four-year span immediately after their bankruptcy emergence date. The PBSI is a "capitalization-weighted" index that weighs each of its components based on its total market cap (number of shares outstanding multiplied by the price per share) each day. Recognizing that some post-bankruptcy stocks offer attractive valuationand generous returns, The Turnaround Letter developed the PBSI to provide for reliable, timely financial data for this under-appreciated—and often misunderstood sector.
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Identify & Profit from Distressed Investing
Turnaround Investing Blog
At best, the broad stock market’s 15.8% drop since its peak only three months ago on September 20 has been disconcerting. The deeper 23% plunge in small cap stocks, as measured by the Russell 2000 index: startling. For the weakest 9% of S&P500 stocks – often those with some type of unfavorable macro exposure – their average loss of 40% in such a brief time has been simply jaw-dropping.
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.
Turnaround Letter Stock Pick Named Top Performer of 2017
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."
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