Day: February 9, 2016

I recently saw the movie, The Big Short. While the movie entertained as much as the book, the movie’s release coupled with the rough start to the year probably left a lot of investors feeling anxious. As long-duration common stock owners, we at Smead Capital Management believe a review of the circumstances preceding the financial meltdown of 2007-2009 and a comparison to where we are now in the U.S. economy would be helpful. Since residential real estate was the centerpiece of the movie, and traditionally is a centerpiece of our economy, we will dub our current view as “The Big Long.”