Author: Smead Capital Management

Voluntary Exile

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: The Bible is full of stories of God’s people living in exile on their own volition. A famine occurred in the land of “milk and honey”, so the Hebrews moved to Egypt at the

⟶ Keep Reading

Circle the Wagons

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: We spoke to two small groups in Spokane on September 21st, 2012. For better or worse, when I think of Spokane I think of my cousin Gary. It was 1981 and yours truly was

⟶ Keep Reading

The Predictive Power of Dividends

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: In an article published by Marketwatch.com on September 21, 2012, Mark Hulbert asks the question, “Where do you think the stock market will be ten years from now?” It was as a lead into

⟶ Keep Reading

Tax-Free Dividend Reinvestment

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Ten-Year US Treasury Yield since 1/1/1871  My career started as a stock brokerage trainee at Drexel Burnham Lambert in 1980. As you can see in the chart above, interest rates at that time were

⟶ Keep Reading

CNBC: CIO Bill Smead talks about the US markets (8/14/2012)

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

⟶ Keep Reading

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

⟶ Keep Reading

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

⟶ Keep Reading

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

⟶ Keep Reading
Scroll to Top