Blue Chip Brand Turnarounds

The idea

I believe the market has given up too early on iconic consumer brands that are mid-turnaround under new leadership, so this basket owns the beaten-down names across apparel, coffee and burgers, beauty, retail and food where a new boss is cutting what's broken. It's weighted toward the most credible fixes like Nike and Starbucks, keeps McDonald's as the steady operator of the group, and holds a cash reserve to add if a quarter disappoints, since that happens in nearly every turnaround. I'm thinking in years here, not quarters, since these fixes take time to show up in the numbers.