Sales Desk – US   877.701.2883
Sales Desk – International   +353 1 525 9677

US INVESTORS
Non-US INVESTORS

Sales Desk – US   877.701.2883
Sales Desk – International   +353 1 525 9677

US INVESTORS
Non-US INVESTORS

Author: Smead Capital Management

4Q18 Newsletter: Dr. Jekyll Economy Meets Mr. Hyde Markets

In the famous book, Strange Case of Dr. Jekyll and Mr. Hyde, Dr. Jekyll and Mr. Hyde were one human being with a split personality. Dr. Jekyll healed people and Mr. Hyde murdered them. This economic environment and the U.S. stock market have the same kind of split personality. The economic environment has been healing people with jobs, consumer confidence and a bright demographic future. At the same time, in the second half of 2018, the Mr. Hyde stock market took investors out back to a slaughter, knocking a swift 18-20% off major indexes and punishing over-priced glam tech stocks even more.

⟶ Keep Reading
January 15, 2019

Bloomberg Radio: Cole Smead, CFA on Picks in a Shifting Market

Stocks mentioned: AXP, DISCA The information contained in this interview represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results. The securities identified and described in this article do not represent all of

⟶ Keep Reading
January 9, 2019

Price for Clarity

The market hates ambiguity. That’s what we’re told, and on any short-term basis, we can see the market vote accordingly. In a world where investing has morphed towards algorithmic trading systems influencing daily volatility, many have come to accept this as a reasonable truth and participate by selling when things lose clarity or piling in when visibility is perceived.

⟶ Keep Reading
January 8, 2019

WSJ: Tony Scherrer on Starbucks

Starbucks CEO Kevin Johnson Reins In Predecessor’s Ambitions: ‘I’m Not Howard’ By Julie Jargon For more information go to www.wsj.com. Stocks mentioned: SBUX The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance

⟶ Keep Reading
January 7, 2019

Bloomberg Daybreak Asia: Tony Scherrer on Market Expansion

Bloomberg Daybreak Asia Hosted by Shery Ahn and Haidi Stroud-Watts For a link to the video go to www.bloomberg.com. The information contained in this interview represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of

⟶ Keep Reading
January 4, 2019

Barron’s: Bill Smead on Merck

Merck Stock Was the Best in the Dow in 2018 — by Far By Teresa Rivas For more information go to www.barrons.com. Stocks mentioned: MRK The information contained in this article represents SCM’s opinions, and should not be construed as personalized or individualized investment advice.

⟶ Keep Reading
December 31, 2018

CNBC Power Lunch: Bill Smead on the Fed’s Impact on Markets

Markets aren’t looking at the Fed’s flexibility, says Oxford Economics’… Hosted by Tyler Mathisen, Kelly Evans and Melissa Lee 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

⟶ Keep Reading
December 21, 2018

Academia vs. The Real World – Part 2

We are revisiting our discussion of what the real world is like versus what academics claim in papers and debates. A good way of putting this is “Academia has a tendency, when unchecked (from lack of skin in the game), to evolve into a ritualistic self-referential publishing game.” In 1984, this is exactly what Michael Jensen did in his talk at Columbia University in a debate with Warren Buffett. We know that reciting more and more of your colleagues’ papers is the best way to win in academia. We seek to finish this discussion on what works in the real world.

⟶ Keep Reading
December 18, 2018

Bloomberg: Bill Smead on Healthcare Stocks

Health Investors Get Selective as Markets Churn Into 2019 By Bailey Lipschultz Stocks mentioned: MRK, PFE For more information go to www.bloomberg.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

⟶ Keep Reading
December 14, 2018

CNBC Power Lunch: Bill Smead on Market Movement

Markets have yet to bottom, says investor Hosted by Tyler Mathisen and Kelly Evans For more information go to www.cnbc.com. Stocks mentioned: BAC, JPM, AMGN, DISCA The information contained in this tv appearance represents SCM’s opinions, and should not be construed as personalized or individualized

⟶ Keep Reading
December 12, 2018
Scroll to Top