Univesity of Washington Football Team

William Smead
Chief Executive Officer
Chief Investment Officer 


 
 
  
Dear Clients and Prospective Clients: 
  1. It has a great balance sheet and massive alumni support.
  2. It has a long history of success, including numerous Rose Bowl victories and two National Championships.
  3. It has strong insider ownership and has had recent insider buying.
  4. It has a strong Moat, because it is the only major college football team in the Puget Sound Metropolitan Area and the stadium is surrounded by water.
  5. It generates such good free cash flow that it funds the non-revenue sports on both the Men’s and Women’s side.
  6. It is economically essential. Football is the single best way to mass advertise your college around the country.
  7. It is fan and donor friendly. There is something special about amateur athletics and going back to college six Saturday’s each year.
  8. It has never been more out of favor than now with a record of 0-10. The only time it has been this far out of favor was at the end of the Jim Owens era in the late 1960’s and early 1970’s when Don James came in to coach.

We own a bunch of stocks that fit the same criteria and we think that the football team and our stocks are going to have a great deal of success in the future.

Warmest regards, 
 

 


William Smead

We Advise Investors

Sign up to get our advice sent straight to your inbox.

Recent Missives

The Genesis of Our Stock Selection

June 11, 2024

We have gained a number of new investors and get regular vetting interest from investors who need to understand the roots of our stock-picking discipline. Our stock-picking discipline is built around our eight...

⟶ Keep Reading

The P.A. Conflict

June 4, 2024

[...] We should want customers of the investment industry to get good outcomes. Good outcomes come from good processes and aligned incentives. With US markets being the rage of the investment world, we...

⟶ Keep Reading

Bill Walton’s Insane Brilliance

May 29, 2024

[...] What Bill called “everyone thinking alike” we call a well-known fact. A well-known fact is a body of economic information that is not only known by all market participants but has been...

⟶ Keep Reading

Only Dave Cuts the Federal Budget

May 21, 2024

Back in 1993, a brilliant satirist by the name of Ivan Reitman produced a movie called "Dave." It was the story of a life-threatening stroke besetting the President of the United States of...

⟶ Keep Reading

Buffett and Munger Mark the End of An Era

May 7, 2024

At the Berkshire Hathaway Annual Meeting we marked what we believe is the end of an era both for Berkshire and for the S&P 500 Index. In Berkshire’s case, it is the loss...

⟶ Keep Reading

1968-1969: Buffett and Price Agreed

April 30, 2024

We’ve recently been making the case that the current circumstances in the stock market are most like the late 1960s and 1970s. Euphoric enthusiasm for the most aggressive stocks and an economic/national security...

⟶ Keep Reading

We Advise Investors

Sign up to get our advice sent straight to your inbox.

US INVESTORS

Individual Investors

OR

Financial Advisors, Family Offices,
and Institutional Investors

OR

NON-US INVESTORS

Individual Investors

OR

Financial Advisors, Family Offices,
and Institutional Investors

OR

Scroll to Top