The Turnaround Letter

April 2018

Volume: 32
Edition: 10

Stock Pick & Stock Sales

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This Swiss-based, large-cap manufacturing company is this month's stock pick.

Purchase Recommendation - April 2018

Despite the impressive new management, these shares fell sharply. This value stock's shares trade at a relatively modest valuation of 8x current year EBITDA. Although waiting for a five-year plan to unfold may seem as dull as watching cement dry, the shares pay an appealing 3.7% yield and should provide rock solid gains when the recovery is completed.
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Turnaround Investing Articles

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This article names a diverse group of six REITs that have fallen out of favor.

Is It Time To Check Into REITs?

As the market worries about overpriced technology and industrial stocks, one group that has already corrected into undervalued territory is real estate investment trusts, or REITs. So far this year, the S&P500 Real Estate sector has declined over 7%, with a three-year return of just over zero compared to the broad market's return of 30% over the same period. Once largely ignored, REITs earned their own sector classification within the S&P500 Index in 2016, significantly raising their profile among investors.
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These value investing opportunities could produce considerable stock profit.

Bargains In Low-Priced Stocks

It has become fashionable in the stock market for companies to have high per-share prices. Notable examples include Amazon ($1,497), Alphabet ($1,005) and Blackrock ($541)--and, of course, Berkshire Hathaway Class A at $300,240. Companies with high per-share prices generally have successful and growing businesses and have chosen not to split their shares. What about companies whose per-share prices are at the other end of the spectrum, around $10 or less? This article details six value stock companies that fit the bill.
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Turnaround News & Updates

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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.

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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.

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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."