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.

Enhanced Value Stock Analysis: Catalysts Report Published

In The Turnaround Letter's ongoing quest to bring the most timely and actionable value investing advice possible, we've introduced a new Catalysts Report feature. A catalyst is defined as "an agent that provokes or speeds significant change or action"; therefore, this report reflects George Putnam's contrarian investing approach--identifying companies that caught our attention as a result of some sort of recent event that could accelerate positive change.

The premise here is that some of these catalysts might signal a potential investment opportunity. As contrarians, The Turnaround Letter does not to follow the crowd: We avoid the "blue chips" and "hot" stocks, instead cherry-picking select "troubled" companies poised for a rebound, and these catalysts could indicate that a turnaround is on the horizon. Here are some of the catalyst categories we've identified for inclusion:

  • Activist
  • Buyout
  • Emerged
  • Executive Change
  • Merger
  • New CEO
  • Restructuring
  • Spin-Off
  • Turnaround

We cast a wide net in looking for catalysts, so these names have attractiveness ranging from "very interesting--worthy of further research" to "not interesting right now." The analysis and details contained in our Catalysts Report can be critically useful to value investors: Obviously, not every company named is going to turn into a success story. Many will liquidate and others languish with depressed stock prices for years. The key to stock profit in turnaround investing lies in skillful analysis and decades of proven experience, separating those companies that will recover and ultimately return to favor from those that will not.

This feature is just one more resource subscribers can use to identify potential turnaround opportunities and increase stock profit. Our list includes ticker, CUSIP and pricing to streamline your research burden--as well as thorough commentary further explaining each company included in the report. Subscribers can view and download the full report in both PDF and/or easy-to-sort Excel formats, and the file will be updated monthly to reflect status changes and as fresh catalysts emerge. Click here to view the first (of six pages) from our November 28th Catalyst Report--a brief overview of the depth and quality of our research. 

Subscribe now for immediate and ongoing access to The Turnaround Letter's Catalysts Report.

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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."