Author: Smead Capital Management

2Q22 International Value Strategy Newsletter: The Rhythm of the Night

Corona’s 1995 classic “The Rhythm of the Night” rings in our ears as we stare at the circumstances that are likely to expose the darkness of the 2020’s. We saw the light in the 2010’s and will see the night in the 2020’s. Our aim for this letter is to give an understanding to investors of the rhythm of what we are likely to see in the road ahead. […]

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2Q22 U.S. Value Strategy Newsletter: Two-Headed Investment Monster

As we’ve hit the halftime mark for the investment year 2022, we are faced with a daunting two-headed monster. One head is the first full year of unwinding what Charlie Munger called, “the biggest financial euphoria episode in his career, because of the totality of it.” The second head is what we call “wolverine inflation,” which is mean and leaves a stench. This combination is powerful and, in many ways, unprecedented. How do we navigate a stock market which is dealing with a two-headed monster? […]

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Barron’s: Bill Smead on the Next Generation

The Wedding Boom Is Hiding a Troubling Trend for the Economy By Sabrina Escobar For more information go to www.barrons.com. Stocks mentioned: TGT The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance

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CNBC Squawk Box Europe: Bill Smead on Wolverine Inflation

This is ‘wolverine inflation’ because it has no natural predator, investor says Hosted by Geoff Cutmore For more information go to www.cnbc.com. The information contained in this tv appearance represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance

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