Parkson – light at the end of the tunnel?

[i4value]

Actually I buy turnarounds partly because I could not find better companies. Another reason is because I thought that I understood the business. Buy over the long run, turnarounds are like venturing into new businesses...you play the odds. I will say that while I have a few duds I still beat the market over a 20 years horizon. So I will not shy away from turnarounds. But I will say that because of the duds, I have learned to analyze turnarounds better. Ya. Expensive learning lessons.