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.

WSJ Highlights The Turnaround Letter with Best 15-Year Returns Among Newsletters

A January 3rd publication of The Wall Street Journal highlighted the contrarian approach that many Turnaround Letter subscribers have become accustomed to. Author Mark Hulbert believes that “following last year’s stock market is a risky bet” and has cited George Putnam’s The Turnaround Letter with the best 15-year returns. 

"While there is no magical track-record length on which you should always focus, 15 years is a good rule of thumb,” says Hulbert. "The investment newsletter with the best 15-year returns, among those monitored by Hulbert Financial Digest, is a service titled The Turnaround Letter, edited by George Putnam.”

Many potential investors rush to the big winners from the year before, only to be disappointed by big losses, but Hulbert stresses the need for a reliable, knowledgeable adviser like George Putnam to guide investors for 15 years, rather than 12 months. For such long run strategies, The Turnaround Letter remains a top choice for distressed investing professionals. 

Read the full Wall Street Journal article here.

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Amazon = US GDP 1970

Amazon joined Apple in reaching a $1 trillion market capitalization. $1 trillion is about the same as the total value of New York City property and the total value of loans at JP Morgan, the nation’s largest bank in terms of assets. Jeff Bezos’ $160 billion stake would place him (personally) as the #33 largest company in the S&P 500 in terms of market cap, next to Coca-Cola, Disney and Netflix. We aren’t bold enough to predict whether the shares will continue upwards or if they are in a bubble reaching maximum inflation. Setting aside for a moment their investment prospects, let’s admire the truly remarkable milestone that these two companies have reached. Read More.

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.

Read More.

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."