The Turnaround Letter

July 2018

Volume: 33
Edition: 1

Stock Pick & Stock Sales

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This small-cap meal kit delivery company is this month's stock pick.

Purchase Recommendation - July 2018

This month's purchase recommendation is a food company in a rapidly-growing segment, yet with its survival threatened by operational and strategic difficulties. An entirely new leadership team with impressive experience in critical areas is moving aggressively to bolster the business while pursuing new growth opportunities. While its challenges and risks are real, investors seem to be more focused on its past than on what the company is doing now to improve.
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Stock moved to sell recommendation after improved performance

Sale Recommendation - July 2018

This energy stock has performed well recently, and we recommend the sale of its shares.
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Stock moved to sell recommendation after successful plan implementation

Sale Recommendation - July 2018

This energy company is progressing through its turnaround plan, and we recommend the sale of its shares.
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Turnaround Investing Articles

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This article highlights a group of pharmaceutical stocks that are turnaround candidates

Pharmaceutical Stocks: Healing Some Self-Inflicted Wounds

For many large pharmaceutical companies, the past few years have been a struggle. Despite increases in overall healthcare spending and a wave of innovative treatments, more drugs are facing revenue-draining generic competition, regulators are tightening their scrutiny on pricing, and the pool of ailments yet to be conquered is shrinking. Some firms have navigated the changes reasonably well. Below we highlight six turnaround candidates in the pharmaceutical sector.
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This article discusses the first six months of 2018 in terms of bankruptcy activity

Mid-Year Bankruptcy Review and Outlook

Bankruptcy activity has slowed somewhat in the first half of 2018. As long as the debt markets remain robust (some might say “frothy”), the number of large public bankruptcies may stay low. However, we expect to see bankruptcy activity pick up significantly in the not-too-distant future.
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This article discusses the health of the stock market during the first six months of 2018

Mid-Year Stock Market Update

As we write this just before the middle of the year, the S&P500 has gained 2.5%, a relatively modest result compared to its impressive returns since 2009. It is hard to pinpoint any major drivers for the market performance.
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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

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.

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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."