Author: Smead Capital Management

3Q15 Newsletter: Red Room, Green Room, and Beige Room

One of the great investing books of the last 40 years was David Dreman’s, Contrarian Investment Strategy. He started it by telling of a hypothetical gaming casino with two separate, but adjoining, rooms: the red room and the green room. The red room was packed with people and excitement and almost every day someone hit a huge jackpot setting the building on fire with electricity. Every seat was packed, others waited their turn to play and the anticipation was palpable. Yet most of the players left the casino each night without their money, because the odds were stacked heavily in the house’s favor.

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CNBC Squawk Box: Bill Smead on the US economy and housing

Booming economy would kill bull market Closing Bell hosted Becky Quick and Joe Kernen For the full story, 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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What’s the Market’s Biggest Risk?

When meeting with clients throughout the country, investors ask if we are worried about various well-vetted and well-known negatives. The list includes what the Federal Reserve Board might or might not do, China’s slowdown, emerging market struggles, plummeting commodities, dollar strength and the uncertainty over who will become President of the U.S. in 2017. We think investors are really asking us, “what’s the market’s biggest risk?”

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CNBC Asia–Street Signs: Bill Smead on interest rates

Yellen’s speech means 2015 hike is back on the table Hosted by Martin Soong and Oriel Morrison 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

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CNBC–Closing Bell: Bill Smead on markets and millennials

Amgen looks spectacular Hosted by Kelly Evans. For more information go to www.cnbc.com. Stocks mentioned: AXP, BAC, AMGN The information contained in this tv appearance represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of

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Barron’s: Tony Scherrer discusses bio-techs

Amgen: Cheap Stock, Blockbuster Pipeline By Johanna Bennett 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 guarantee of future results. The securities identified

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Competing with the Alpha and the Omega

In the Bible, Jesus said, “I am the Alpha and the Omega, the first and the last, the beginning and the end.” While Jesus infers that he is at both the beginning and the end of time, we as investors can only operate in the present with a knowledge of what has come before. To better understand today’s commodity market circumstances, we believe investors should examine the herd mentality and the psychological backing that may lead to contrarian investment opportunities.

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CNBC Asia Squawk Box: Bill Smead on the US economy

Looking forward to normalizing rates Squawk Box hosted by Bernie Lo 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 is no guarantee of future

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Wall Street Journal: Tony Scherrer discusses media companies

Unplug From Media Stocks? Maybe Not By Saumya Vaishampayan For more information go to www.wsj.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 guarantee of future results. The securities

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