Author: Smead Capital Management

Buffett on the Value of Patient Optimism

Like picking up the Good Book, a read of Berkshire Hathaway’s Annual Shareholder Letter yields
insight, wisdom, and encouragement for the long-duration common stock investor in a world of shortterm
thinking and 30-second sound bites.

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Bloomberg: Bill Smead talks about Pfizer’s purchase of Hospira

 Pfizer’s Hospira Deal Signals Preparation for Eventual Split By David Welch and Cynthia Koons 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 no

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Woody Hayes on Portfolio Management

“There are three things that can happen when you pass the football and two of them are bad,” observed The Ohio State University’s legendary coach Woody Hayes. All the Seahawk fans, myself included, know exactly what he is talking about since the Seahawks chose to pass the ball at the one-yard line. You can complete a pass, you can throw it for an incompletion, or you can throw it to the other team (an interception).

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