Author: Smead Capital Management

Bloomberg TV: CIO Bill Smead talks about China (5/2/2012)

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

“Real” Career Risk

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Jeremy Grantham is a brilliant asset allocator, writer and thinker. He works for an organization (GMO) of great people in those disciplines. He released his quarterly letter to the public recently entitled “My Sister’s

⟶ Keep Reading

The Value of Sentiment Polls

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: We at Smead Capital Management (SCM) have made the case that the poor performance of the US stock market from the end of 1999 to the end of 2008 has caused most institutional and

⟶ Keep Reading

Has Anybody Here Seen My Old Friend Doomsday?

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: One of my favorite songs of the late 1960’s was “Abraham, Martin and John”. It reminded us that a number of our country’s leaders had been assassinated. Investments aren’t nearly as important as life

⟶ Keep Reading

Mr. BRIC Trade is on Our Side

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: A recent article in “The National” quoted Jim O’Neil as saying that current supply and demand for oil indicates that $80 to $100 per barrel for Brent Crude would be a fair price. For

⟶ Keep Reading

Defining Risk: Warren Buffett’s Three Kinds of Investments

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: In his recent 2011 shareholder letter, Warren Buffett explained the purpose behind investing, the “real” definition of risk, and the three types of investments which congregate the marketplace. At Smead Capital Management, we believe

⟶ Keep Reading

Is Popularity Ruining Indexing?

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: We have been traveling around the world delivering a talk to CFA Societies on why passive indexes beat most active equity funds. We start the talk with the following William Sharpe quote from 2002:

⟶ Keep Reading

Out of Bondage

William Smead Chief Executive Officer Chief Investment Officer Printable Version   Dear Fellow Investors: In the Bible’s books of Genesis and Exodus we are told that as Prime Minister of Egypt, Joseph was wise enough to store up massive amounts of grain in a seven–year

⟶ Keep Reading
Scroll to Top