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.

The Turnaround Letter’s Value Stock Analysis Makes Headlines

Since the first issue of The Turnaround Letter hit the presses back in 1986, George Putnam has consistently practiced the same straight-forward and profitable value investing approach. He does not follow the crowd and is widely-recognized for this contrarian perspective, with media sources and financial publications frequently seeking out his insight, stock recommendations and unique turnaround investing expertise. Most recently, Forbes, equities and MoneyShow highlighted The Turnaround Letter in the following write-ups.

https://www.turnaroundletter.com/ext/resources/forbeslogo.pngForbes' "5 Stock Buys At Big Discounts" notes, "With major indexes trading at or near all-time highs, it's much harder than ever to find bargain stocks. And by bargain, we mean quality companies at a reasonable price. As Warren Buffett famously pointed out 'price is what you pay, value is what you get.'" Forbes goes on to detail five value stocks selected by The Turnaround Letter. Each of the stock picks has minimum $1 bb market caps and significant declines over 52-week highs—adding up to "real value that the market appears to be missing." Click here to read the related PDF report for "5 Stock Buys At Big Discounts."

https://www.turnaroundletter.com/ext/resources/aug-17/equities.png"How New CEO Steers Turnaround At Macy's" highlights Putnam's July 2016 Purchase Recommendation: Macy's (M). The article notes Putnam's assertion, "Macy's shares remain near multi-year lows despite the company's reasonably decent 2nd quarter 2017 results backed by fresh and more aggressive leadership….Valuation at 4.4x this year's estimated EBITDA, which understates the value of much of Macy's real estate, assumes an overly grim outlook for the company." Putnam believes this retailer is showing all the signs of a successful turnaround, and the stock remains bargain priced with an added bonus: Macy's generous dividend yield rewards patient investors.

best stockIn "5 REITs With Turnaround Potential," MoneyShow notes Putnam's assertion that turnaround investors frequently overlook REITs. The write-up explains, "Because REIT turnarounds often involve selling illiquid real estate, they can be measured in years, not quarters. However, for patient investors, they can offer substantial gains while often paying attractive dividends in the meantime." The article analyzes five of The Turnaround Letter's favorite REITs with attractive stock profit potential.

We'll continue to alert you when George Putnam and The Turnaround Letter make headlines, and you can always find his timely stock market advice and value investing recommendations.

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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."