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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CNBC: Bill Smead on the Shift in Streaming Wars

The first act of the streaming wars saga is over — Netflix’s fall from grace has ushered in the pivotal second act By Alex Sherman For more information go to www.cnbc.com. Stocks mentioned: DISCA; DISCK The information contained in this article represents SCM’s opinions, and

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Barron’s: Cole Smead, CFA on Tech and Energy

Apple, Tesla, and These Stocks Are Buys Out of the Tech Wreck By Sabrina Escobar For more information go to www.barrons.com. The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no

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Bloomberg Markets: Cole Smead, CFA on Oil Earnings

Exxon, Chevron Ramp Up Stock Buybacks By Kailey Leinz and Guy Johnson For more information go to www.bloomberg.com. Stocks mentioned: CLR, COP, CVX 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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Reuters: Bill Smead on Berkshire Hathaway and Energy

  Berkshire investors nudge for better governance, social issues as meeting looms By Carolina Mandl and Jonathan Stempel For more information go to reuters.com. Stocks mentioned: BRK The information contained in this tv appearance represents SCM’s opinions, and should not be construed as personalized or

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