Author: Smead Capital Management

The Great Scarcity: Stockpicking

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: As the chart below shows, correlations among the S&P 500 Index companies was the highest on October 10th of 2011 as it has been for 25 years. In the opinion of Smead Capital Management,

⟶ Keep Reading

No One to Answer To

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Two watershed events were announced in the last two weeks. First, Warren Buffett disclosed a massive amount of open market purchases of US large-cap stocks. Second, Legg Mason announced that Bill Miller is “stepping

⟶ Keep Reading

Grease (Greece) is the Word

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Everything you need to know about today’s circumstance in the US stock market is covered in the theme song to the movie, Grease.           I solve my problems and I see the light          

⟶ Keep Reading

Chinese Banks are Imitating Washington Mutual

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Once upon a time there was a bank based in Seattle, Washington called Washington Mutual. The bank grew by acquisitions in the 1990’s and enjoyed the prosperity of the United States of America. It

⟶ Keep Reading

The Blessing of Hitting the Skids First

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: They say that to make significant improvements or permanently change behavior you have to hit bottom. Once you hit bottom, you have to want to change. There is a special blessing in hitting bottom

⟶ Keep Reading

5 Questions with CIO Bill Smead

  The information contained in this video represents SCM’s opinions, and should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results. Some of the securities identified and described in this video are a sample of issuers being

⟶ Keep Reading

Money Manager Pride Goeth Before Destruction

William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: At Smead Capital Management we have made it a high priority to pay attention to the investors who have proven over decades that their work proves worthy of great respect and admiration. In baseball,

⟶ Keep Reading
Scroll to Top