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Thank you for your interest in The Turnaround Letter, one of the industry’s most successful investment newsletters. The Turnaround Letter has been published since 1986 by George Putnam, III, the country’s most accomplished turnaround investor.

Each issue contains George Putnam’s monthly stock pick, articles on identifying turnaround investment opportunities in various sectors and industries, updates on the newsletter’s current portfolio, and more. Turnaround Letter’s subscribers also receive site wide access to, the largest collection of turnaround and distressed investing insight and advice on the web.

As an added bonus you’re also receiving 
A FREE Turnaround investing E-Report

sample turnaround newsletter
  • Actionable steps you can use right now to identify turnaround stocks that are poised for a recovery
  • 10 attributes to look for when identifying potential turnaround investments
  • Learn to differentiate which companies will recover and return to favor from those that won’t

Subscriber Benefits

  • Market-beating purchase recommendations. The annualized return of The Turnaround Letter’s purchase recommendations is 11.3% over the last 15 years ranking The Turnaround Letter among the top producing investment newsletters on the market during that stretch!
  • Timely market commentary and insight directly from George Putnam, III, the nation’s leading turnaround investor. George educates his readers on the ins and outs of turnaround opportunities and helps them understand the unlimited growth potential of these undervalued companies poised for reversal, rebound, and recovery.
  • Updated goal prices and tracking on recommended stocks.
  • 24/7 subscriber-only access to, which houses the industry’s largest collection of turnaround investing advice and commentary.


What is
Turnaround Investing?

what is turnaround investing

Turnaround investing is the process of looking for investment opportunities in solid but down-and-out companies that are poised to rebound: companies that Wall Street unjustly hates for one reason or another. Turnaround investors who get in when the stock prices are near bottom can ride these investments for hefty gains on the way back up.


Recent Stock Pick Returns

Each year many of Wall Street’s biggest gainers are established, yet troubled, companies that turn themselves around. Of course not all of our stock picks perform this well, but listed below are eight recent “closed out” recommendations and their corresponding return rates (from price at the time of purchase recommendation through that at the time of sale recommendation):

Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Is there value in bankrupt PG&E’s stock?

In nearly every case, the shares of a company in bankruptcy become worthless. In very rare cases, however, they can become great investments. W.R. Grace (NYSE:GRA) shares produced a 75-fold return, as an example. With California utility PG&E (NYSE:PCG) now in bankruptcy, the range of possible outcomes for its equity is wide.

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


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."