Turnaround Investing Blog

George Putnam, one of the country's leading turnaround and distressed investing professionals, shares his timely insight on the economy and turnaround investing opportunities.

Post-Bankruptcy Stocks / Transportation

DAL Stock Pick Yields 227% Returns

Making Delta the Newest Member of “200 Club”

The Turnaround Letter recently suggested investors lock in stock profit and unload Delta Air Lines (DAL)—resulting in a 227% increase from its price at the time of our October 2011 purchase recommendation. We advised Delta’s sale after the Company reported good numbers and saw a nice rise in stock price. Although we’ve been enjoying this very good gain with DAL’s stock--and there’s always a temptation to ride all the way to the top--I wanted to follow my own contrarian investing advice offered in the November 2013 article “Sell When They Want to Buy; Buy When They Want to Sell.”

As our distressed investing blog explains, The Turnaround Letter often recommends selling stocks that are performing very well--like DAL. One of the keys to making money in the stock market is being content with taking solid profits and leaving the pigs to fight over the last few points. I’m very content with Delta’s impressive returns, which made this company the newest member of our esteemed “200 Club.”

Of course, not all purchase recommendations perform so well, but the list below reflects our value investing stock picks that have achieved returns of 200%—or better:

  Turnaround Letter 200 Club:
















* As of publication date, Bristow Group remains an active purchase recommendation, and the 11,020% returns reported above reflects the stock’s closing price as of 11/18/13.


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Boston Beer Company--Time for Investors to Step Up to the Bar?

Boston Beer Company is the nation's largest craft beer company, with 2017 revenues of over $900 million. Since its days as a start-up in 1984, it has led the nation's growing taste for craft beers; and shareholders have enjoyed tasty returns along the way. So why is The Turnaround Letter--which focuses on out-of-favor companies undergoing major positive changes--even thinking about this ostensible "growth" company? 

Read More.

Harnessing Activists to Help Find Turnaround Stocks

Activist investors often produce attractive returns for their clients; and you can still use their influence to help your position as a turnaround investor in two ways: Buy a position in a stock with the expectation that an activist will soon follow or buy after an activist takes a stake.


Value Investing


While one of the many dozens of activist funds might find their way to selecting your particular stock, this approach is likely to be frustrating and unrewarding. A better approach is to buy after the activist makes their move. Once an activist takes a stake in a company, how do you evaluate whether it is worthwhile to follow on? Admittedly, this is a bit of an art... Learn how you can harness the power of activist investors to find market-beating turnaround stocks.

Turnaround Letter Stock Pick Named Top Performer of 2017


stock market advicex


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."