# Any under the radar good corporate turnaround story?



## internalaudit (Jan 27, 2017)

I was thinking a company that has hit 2, 3, 5 or 10 year lows but is now on the mend -- paying down debt and showing top line growth. 

Even perhaps performing a accounting blood bath to clean worthless intangibles and get the books in order?


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## redsgomarching (Mar 6, 2016)

well you are basically describing valeant pharmaceuticals.


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## internalaudit (Jan 27, 2017)

^ Thanks redsgomarching. I was actually eyeing Valeant yesterday but decided to load up on PHM (Patient Home Monitoring) at 20 cents instead, averaging down from 40 cents bought months ago for one account. It's currently my only holding.

Not sure if it's still a good deal after the run up to 22.5 cents but there are some interesting things percolating -- splitting into two division dependent on share holder voting.

It also had an accounting blood bath for 2016 to expunge lots of good will and bad debt and current assets are 1-2x total debt so it's not at the brink of any collapse.



I did read a lot of comments on seekingalpha re VRX and yes it seems it's in the mend. 

There are probably a few other plays out there for the patient investor but I can't seem to find any. Been looking at companies listed in the US that have been hitting 2, 3, and 5 year lows but most have such a huge debt load that common shareholder value is currently negative.


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## nobleea (Oct 11, 2013)

internalaudit said:


> I was thinking a company that has hit 2, 3, 5 or 10 year lows but is now on the mend -- paying down debt and showing top line growth.
> 
> Even perhaps performing a accounting blood bath to clean worthless intangibles and get the books in order?


Weatherford.

Got rid of old CEO, new CEO in from Halliburton. Paying down debt, turnaround in operations.


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## Johnred (Dec 30, 2016)

nobleea said:


> Weatherford.
> 
> Got rid of old CEO, new CEO in from Halliburton. Paying down debt, turnaround in operations.


Interesting..reading up on them. High opinions on the new CEO it seems.


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## internalaudit (Jan 27, 2017)

Thanks for sharing nobleea.

I wonder if CSX under Harrison Hunter will prove to be a good bet as its stock price is bumpy unlike mainly railroad and infrastructure companies.


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## nobleea (Oct 11, 2013)

Johnred said:


> Interesting..reading up on them. High opinions on the new CEO it seems.


The top management level had been getting progressively bluer as of late (ie ex Schlumb people). They're great managers and numbers driven, but SLB is very military-like in its structure and authority. It can stifle creativity and ambition - impossible to question authority. Halliburton, and the new CEO, have a corporate culture that lines up a bit better with WFD.


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## Ag Driver (Dec 13, 2012)

Deleted


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