More Turnaround Letter People


Bruce W. Kaser, CFA 

Associate Editor

Bruce brings to The Turnaround Letter over 25 years of equity investing experience managing institutional portfolios, mutual funds and private client accounts. He has led two successful investment platform turnarounds, co-founded an investment management firm and was principal of a $3 billion (AUM) employee-owned investment management company.

Previously he was Portfolio Manager with Boston-based Ironwood Investment Management where he managed the Ironwood Event-Driven Small/Midcap Value strategy, an innovative long-only, low-turnover equity strategy that he co-founded, focusing on event-driven companies at the intersection of depressed share prices and pending new prosperity. Prior to Ironwood, Bruce was Vice President and Senior Portfolio Manager with RBC Global Asset Management where he co-managed their $1.0 billion value/core equity platform. He joined RBC when they acquired Freedom Capital Management, where he was a principal and led the turnaround of their $800 million value/core equity platform.

Previous experience also includes Vice President and Portfolio Manager with Loomis Sayles where he turned around and lead-managed a $250 million institutional and private client equity strategy, and was a member of the six-person nationwide committee selecting stocks for the $3.5 billion Private Client program.

Bruce has been quoted in The New York Times, The Gartman Letter, The Wall Street Transcript and in web articles by Fox Business, US News & World Report and Interactive Brokers. Originally from Ohio, Bruce is a graduate of the University of Chicago Booth School of Business, where he earned the MBA in Finance and International Business and received the Bachelor of Science in Finance with Honors from Miami University (Ohio). He is a CFA charterholder. 

Bruce maintains an active volunteer schedule with the Cub Scouts, the Boy Scouts and the Lexington Little League baseball program and helps train English teachers in El Salvador. A frontier/emerging nation travel enthusiast, he has visited over 28 countries. A veteran Chicago Cubs baseball fan, Bruce is thrilled with their first World Series title in over a century.

Meet George Putnam, III

Identify & Profit from Distressed Investing

Free Report: Turnaround Investing Mistakes

Turnaround Investing Blog

Turnaround Investing Blog

Tupperware: Not a Good Fit as a Turnaround Stock

At first glance, the shares have decent appeal as a turnaround investment. Looking deeper, however, the fundamentals are not as strong and stable as they appear. Surplus cash flow is tight, a key driver is weakening, it is increasingly reliant on China and has other nagging issues. We don’t see the new CEO as a catalyst for change. Despite the “first glance appeal”, Tupperware isn’t a good fit as a turnaround stock. 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."