Upfront disclosure: I am long PDEX. PDEX is a thinly traded micro-cap that requires a long time horizon and limit orders when purchasing or selling shares. This article is neither a recommendation to buy or sell shares, and investors should always do their own research.
Perhaps no type of investment is simultaneously as rewarding and risky as a turnaround. I believe the turnaround frame work was first popularized by Peter Lynch in One Up On Wall Street (great book), and everyone has their favorite story of a "ten bagger" that was left for dead but turned around and delivered rapid appreciation in an incredibly short time frame. Probably the most famous example at this point is Apple (NASDAQ:AAPL...
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