The Way We Were
[…] We at Smead Capital Management have our faults, but we never “choose to forget” what has happened in past stock market cycles. For this reason, we are very over-weighted in energy and very under-weighted in the glam tech sectors which have totally dominated the first half of 2023 and the last 12 years in the stock market. “Memories may be beautiful and yet” we believe that forgetting what has happened in analogous situations is a ticket to stock market failure!
July 11, 2023
