Author: Smead Capital Management

Marketwatch.com: Bill Smead on the Great Rotation (7/1/2013)

U.S. stock funds, ETFs celebrate Independence Day By Jonathan Burton For more information go to www.Marketwatch.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

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The Art of Low Turnover

We have argued vociferously that active managers have given up their preferred position in the investing marketplace to passive indexes because of high turnover. A recent Wall Street Journal article referenced 78% turnover as being the average among large-cap US equity funds. Studies have shown that as much as 144 basis points each year in return is chewed up by trading costs. Explaining turnover and its impact is one thing, but it is more important to ask a question. How do you practice low turnover while seeking maximal long-term performance?

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CNBC: Bill Smead on Where Cash Goes to Die (5-28-2013)

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 results. The securities identified and described in this tv appearance do not represent all of the securities

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Bloomberg: CIO, Bill Smead, on Merck’s share buyback

Merck to Buy Back $5 Billion of Its Shares From Goldman By Shannon Pettypiece 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 guarantee

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