Smead Blog

The investment marketplace suffers from information overload. Smead Capital Management seeks to cut through the cacophony of other media resources to focus on what is important to long-term common stock ownership. This comes through our missives, quarterly newsletters and appearances in the media to provide thought leadership for our potential and current investors.

1Q21 Newsletter: Winning the Peace

Our outlook for 2021 is formed by the need to get away from the crowd and to expect some very stormy weather in the U.S. stock market. We are not afraid of drowning. Therefore, we will review the circumstances at the bottom of the market in 2009 with today’s market to see where the crowd is and where we need to go to avoid the coming storm.

04/15/21 by

Dumb and Dumber III

[…] Warren Buffett and Charlie Munger emphasize that the key to investment success is weak competition. Recently, two sets of investors, newbie investors through Reddit (and other chatrooms) and hedge fund managers running non-transparent portfolios of immense size, were both blessed and cursed by unusual success at the same time. One of the worst things a market can do to you is reward you for bad behavior and that has happened way more than normal. A quick review is necessary. […]

04/06/21 by

Business Insider: Cole Smead, CFA on Outlook for S&P 500

‘You’re going to see bad before you see good’: A portfolio manager at $2.3 billion firm breaks down why the S&P 500 is staring down a decade of negative returns – and says 10-year yields going to 7% is ‘not outlandish’ amid a wave of inflation By William Edwards For more information go to www.businessinsider.com. […]

04/05/21 by

Animal Spirits at Cocktail Parties

[…] A classical education and the texts that form its base have lasted because there is truth that has been tested time and time again. The reason value has lasted is because it has truth that has been tested time and time again. We may not quote stocks in eighths or quarters like John Maynard Keynes or Benjamin Graham did, but we think in congruent terms. Our work is “done to last forever.” Our clients benefit from the permanence of this. The public will be a victim In Sententia Tempore. We applaud our investors for having the gumption to stick to dead, but timeless thinking. They fear stock market failure and the opinion of the times.

03/30/21 by

Cheddar: Cole Smead, CFA on End of Bull Market Signals

Dow Closes at Record, But Other Major Indexes End Day Lower Host: Kristen Scholer For more information go to www.cheddar.com. Stocks mentioned: DISCA, BAC, JPM The information contained in this article 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 […]

03/29/21 by