Stock Market Investors

WHAT WE DO

We advise investors who play the long game through a low-turnover, differentiated value discipline seeking wonderful companies to build wealth.

All investors aspire to build wealth in the stock market. Our company understands how frustrating and illogical the stock market can be. We have been involved in stock markets for 40 years and had success despite these shortcomings.

Smead Value Fund

Mutual fund for US investors who would like to invest with Smead Capital Management.

Smead International Value Fund

Mutual fund for US investors who would like to invest with Smead Capital Management.

Smead US Value UCITS Fund

Mutual fund for non-US investors who would like to invest with Smead Capital Management.

Smead Global ex-US Value UCITS Fund

Mutual fund for non-US investors who would like to invest with Smead Capital Management.

OUR ADVICE

Our company advises with a discipline that has proven success over long periods of time.

The Tsunami of European Bank Mergers

Most global investors are not attuned to what can be seen on the horizon, not far from shore. After the Great Financial Crisis, Europe was slow to address the underlying capital issues. Rather than guillotining the problems, they allowed a slow bleed to take place. They amortized problems out over a decade. The idea was to smooth the problems in their capital structure from soured loans. However, like our own personal lives, problems that are not directly addressed only get worse. […]

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Tech Stock Climax

In my 45 years in the investment business, we’ve observed numerous peaks of excitement. In 1987, a bull market that started at a 1982 bottom below 800 on the Dow Jones Industrial Average (DJIA) peaked at 2,722. It then crashed 43% in 78 days. In 1990, just following a nationwide Savings and Loan Crisis, the S&P 500 Index bottomed at 322 and peaked at 1,517 in June of 2000. The proceeding bear market took the index down to 916 on June 1, 2002. The index never officially bottomed until September 1, 2008 at 896. It has now hit a recent peak of 7,580. […]

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Late-Stage Mania: “The Worst Thing Ever”

There is a big difference between betting on something and investing in meritorious companies with long holding periods. Although we are no longer shareholders of Berkshire Hathaway, Warren Buffett shared some wisdom with everyone recently. He made a reference to the stock market looking like a “church with a casino attached” and the stock market in general looking less than “ideal.” Through the lens of our missives of the last six months, we will unpack these thoughts. […]

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