Billabong’s road to recovery

Profits have collapsed, but a nascent turnaround is underway. What can we expect from a recovery? Jason Prowd goes searching for answers.

‘Sure there are potential fatalities’, advised famed investor Peter Lynch, ‘but turnaround stocks make up ground very quickly ... and the occasional major success makes the turnaround business very rewarding’.

Lynch, for example, made 15 times his money investing in Chrysler. Rewarding indeed. Like Lynch, this analyst is excited by turnarounds.

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