I primarily invest in turnarounds in natural resource industries, where I have a typical holding period of 2–3 years. Focusing on value offers good downside protection and can still provide great upside participation. The portfolio has over the last 6 years had a compounded annual growth rate of 24% .If you like this article and are interested in more frequent analysis of my holding companies, real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage you to h ...