Sales Desk – US  877.701.2883
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Sales Desk – US  877.701.2883
Sales Desk – International  +353 1 525 9677
William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: We are owners of both EBay (EBAY) and Amgen (AMGN). We believe the dividend policy and price action in the shares of these two companies can teach us about stock price performance over the
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,
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
William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Thanks to a super well-written piece from Emily Kaiser at Reuters, we can frame the discussion about the Chinese housing bubble as the difference between the US Savings and Loan/Bank debacle of the late
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         Â
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
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
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,
William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: A Wall Street Journal Op/Ed piece on July 9th explained why China was the developed country and the US was the emerging market. One of the examples was the high-speed rail system which has
William Smead Chief Executive Officer Chief Investment Officer Dear Fellow Investors: Scarcity creates value and scarce behavior, in the investment markets, creates value. We have repeated John Maynard Keynes great quote many times, but as an introduction to our topic today, it must be said:
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