Our Advice
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. Through our missives, quarterly newsletters and appearances in the media, we provide advice on how to play the long game.Â
Our Advice
Paying Software Prices for Refinery Economics
For a quarter of a century, the hyperscalers have been some of the most profitable...
Keep Reading ⟶No Country for Old (or Young) Men
As portfolio managers, we must practice what Charlie Munger called "ignorance avoidance!" Therefore, regardless of...
Keep Reading ⟶BNN Bloomberg: Cole Smead, CFA on Canadian Oil and the Economy
Oil tops US$100 per barrel Stocks mentioned: TVE.TO The information contained in this...
Keep Watching ⟶The Long and Winding Stock Market Road
In my 45 years in the investment business, we've observed numerous peaks of excitement. In...
Keep Reading ⟶
Reuters: Bill Smead on New ConocoPhillips CEO
 New ConocoPhillips CEO inherits $7 billion cash flow pledge riding on Alaska oil project...
Keep Reading ⟶Circle Of Competence
As many of you know, our team at Smead Capital Management has studied the thinking...
Keep Reading ⟶The Market: Cole Smead, CFA on European Bank Mergers
A Tsunami of Mergers Is Heading for European Banks By Christoph Gisiger For more information...
Keep Reading ⟶Investment Executive: Bill Smead on Magnificent Seven as a Stock Market Bubble
 Is the Magnificent Seven a stock market bubble? By Kevin Press For more information...
Keep Reading ⟶
2Q26 U.S. Value Strategy Newsletter: Diversification Circa 2026
Most of the studies we've seen argue that 90% of the benefit of diversification comes...
Keep Reading ⟶Most financial advisors believe ETFs hold a structural tax advantage over mutual funds. They don’t.
Â
Read our advice and learn why nobody has told you…
