Author: Smead Capital Management

Risk Mitigation

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: How did the job of an asset allocator move from seeking out undervalued asset classes and securities to one of seeking to mitigate risk? Is risk mitigation a worthy goal or even possible without

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Relative Value

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Everyone wants to wait for the perfect time to buy into the stock market or into any major investment market. They want to enter at historically cheap prices or at “absolute values”. We at

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Bloomberg TV: CIO Bill Smead on China’s Slowdown (8/9/2012)

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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Oil: Does Supply and Demand Matter?

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: If you are a long-time follower of our writing at Smead Capital Management (SCM), you are aware of our belief that a titanic shift is in process in the world economy. The fastest growing

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Stock Pickers: “Somebody I Used to Know”

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Art has a tendency to express culture. One of today’s catchiest songs does a great job of explaining the relationship between institutional/individual investors and US common stock picking. In Gotye’s, “Somebody I Used to

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The Price of Glamour

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: The list of glamorous growth stocks getting hit by what we call “minefield” price declines is getting fairly long. Some of the more influential names which have suffered sharp, swift declines include Nike (NKE),

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Only the Lonely Can Play

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Successful investing is the defeat of human nature. Human beings prefer to buy shares of a common stock which have gone up in price recently. They prefer to participate in styles and sectors which

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