This blog was heavily influenced by Peter Lynch’s types of stock: slow growers, fast growers, stalwarts, cyclicals, turnarounds, and asset plays. Other blogs have carved niches in this classification: Greenbackd and Old School Value becoming the sitesfor assets plays, Wide Moat Investing is doing a fine job with growth with a moat investing, and there are plenty of dividend investment sites analyzing slow growers and stalwarts.
However, there was no special attention to cyclicals and turnarounds: two types of opportunities that I am very fond of but that are complex and time intensive. Cyclicals were my first investment successes. And turnarounds? I think it is interesting the perspective of someone that survived several of them to tell the tale.
- The Science and Art of Turnarounds: a personal view
- Eastman Kodak: turnarounds are difficult
- GEICO: cut the cancer
- Turnaround Lessons: when the tough gets going
- Penn Traffic: unrepentant alcoholics
- More on what to avoid: external threats
- Premier Exhibitions Part 1: picking targets
- Premier Exhibitions Part 2: one man rule
- Premier Exhibitions Part 3: change management
- Premier Exhibitions Part 4: the turnaround plan
- Premier Exhibitions Part 5: never never land and insiders
- Premier Exhibitions Part 6: resilient or lucky?
- Gramercy Capital Part 1: finding a margin of safety
- Gramercy Capital Part 2: valuation under uncertainty
- Gramercy Capital Part 3: evaluating a management team
- Gramercy Capital Part 4: details, details and more details