Category: Missives

1982 or 2009: Pick Your Poison

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Fellow Investors: 1982 The stock market bottomed in August of 1982 just below 800 on the Dow Jones Industrial Average (DJIA) during the worst

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Battle of the Heavyweights

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Dear Fellow Investors: We are witnessing one of the greatest battles to control the hearts and minds of investors that we at Smead Capital Management have just about ever seen. In one

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Cult Stocks

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Fellow Investors: There are amazing financial and psychological rewards that can come from what we call Cult Stocks. At Smead Capital Management (SCM), we’ve

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Peak Oil Mini-Me Part 2

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: We at Smead Capital Management (SCM) wrote a piece a few months ago called “Peak Oil Mini-Me” in which we

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Bi-Polar Sentiment Readings

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: As many of our clients and investors know, we at Smead Capital Management are focused on owning outstanding companies for

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The Correction that Refreshes

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: Last week I was on a road trip through the states of New Mexico, Arizona, Nevada, California, Oregon, Idaho, Utah

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The S&P 500 Value Index Tells the Story

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: Oppenheimer’s Chief Market Strategist, Brian Belski, put out a great piece of research last week (“US Strategy Weekly: Shifting Focus

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Best Performing Sectors in Bull Markets

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: Paul Lim is a business writer for the New York Times and he had an interesting thesis in his article

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Playing Emerging Markets

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: There are very good reasons to avoid investing in emerging markets. Below is a list of some of those reasons:

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Long Bears

William Smead Chief Executive Officer Chief Investment Officer Subscribe to the Missives Podcast Click here to listen to this Missive Dear Clients and Prospective Clients: In prior missives, we at Smead Capital Management have shared with you that there is a large group of money

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