An Investing Lesson From 30 Pills of German Meth

Aimo Koivunen's survival came down to 30 pills of Nazi meth...

Koivunen was part of a Finnish ski patrol sent to harass Soviet forces deep in the wilderness. But on this particular day in 1944, the Soviets struck back hard... ambushing Koivunen's unit.

Outnumbered and outgunned, their only option was to flee.

As one of the group's most experienced skiers, Koivunen took the lead. His job was to cut tracks in the untouched snow, easing the way for his fellow soldiers.

The unit was on its third day of patrol. And the exhaustion, combined with treacherous, snow-covered terrain, was beginning to take its toll.

With desperation (and the Soviets) clawing at their heels, Koivunen turned to the group's rations – specifically, a pack of pills known as Pervitin.

What happened next was a fascinating tale from one of history's darkest chapters... and offers a surprising parallel for today's investors.

The Germans started marketing Pervitin as an energy tablet in the late 1930s...

It swept the nation as a miracle pill that could keep everyone from students to soldiers alert for days... without the need for food or sleep.

Before long, the drug – essentially pure crystal meth – was being mass-produced for Nazi soldiers and their allies.

The Nazis sent 35 million Pervitin pills to the front lines in the spring of 1940 alone. Some historians report Adolf Hitler himself took it regularly.

But Koivunen didn't know what was in Pervitin. And thanks to the freezing temperatures and his bulky gloves, he couldn't free just one tablet from the pack.

So he swallowed the entire 30-pill supply.

Right away, Koivunen's senses sharpened...

A surge of energy propelled him forward. The Soviets fell behind as his team matched his pace... at first.

Then the euphoria gave way to chaos.

Koivunen's heart began racing uncontrollably and he blacked out. When he regained consciousness 62 miles later, his unit was gone. He had no food or ammunition.

The soldier skied for another two weeks... fueled by nothing but pine buds, melted snow, one Siberian jay, and a meth-induced high.

He survived multiple run-ins with the Soviets. He didn't even stop when he triggered a German land mine, blowing up his leg so badly the bones stuck out.

By the time Koivunen made it to Finnish territory and was taken to the hospital, he had skied a total of 250 miles. His heart was still beating about 200 times per minute. His weight had dropped to a skeletal 94 pounds.

And yet, against all odds, this "left for dead" soldier survived. He lived to be 71 years old.

Now, we wouldn't recommend following Koivunen's lead and popping 30 pills of crystal meth...

But his story reminds us of countless stocks that have been left for dead, for one reason or another.

Some enter the market facing a huge uphill battle. For example, large companies sometimes spin off smaller parts of their business. They'll often insist it's for the benefit of both companies.

But that's not always true.

Car-turbocharger maker Garrett Motion (GTX) is a great example. Garrett was a subsidiary of industrial conglomerate Honeywell (HON)... which happened to own another automotive business that was being sued for asbestos use.

Honeywell had no interest in paying billions of dollars in liabilities. So it tacked those liabilities onto Garrett Motion and spun it off.

Garrett went public... and promptly filed for bankruptcy. It was set up to fail in the public markets.

Despite its challenges, Garrett's business itself is a great one...

It's one of the biggest turbocharger makers out there. And after emerging from bankruptcy in 2021, it was dirt cheap.

Folks who believed in Garrett have likely done very well. If you'd bought in post-bankruptcy and held through today, you'd be up more than 100% on this left-for-dead stock.

There are plenty of stocks like Garrett Motion... good businesses that had a tough start in the market.

We're not saying to buy every bankrupt company you come across. But the right beaten-down gem could become your portfolio's next diamond.   

Regards,

Joel Litman
May 27, 2025