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.

Throwing Caution

As we begin 2021, the investing public is tied up in a “frenzy,” to quote Charlie Munger from a recent interview. This “frenzy” can be captured a couple ways. Whether by the investment banking activities that usually coincide with poor market returns going forward (stock market failure), or by the sell-side research analysts playing hopscotch to raise their price targets over their competition in the most exciting stocks. Rather than look at Wall Street, who can often exact nefarious schemes and ideas on investors, we think it would be best to look at market participants to understand where we sit.

01/12/21 by

From the Impatient to the Patient

As we enter 2021, it appears that Buffett had things upside down in 2020. The things which had gone up the most by the end of 2019, went up the most in 2020. We invest on behalf of clients who want to avoid stock market failure and history shows most investors are impatient and are like a car stalled on the railroad tracks. […]

01/05/21 by

Bloomberg: Bill Smead on Value Performance

S&P 500 Should Get A Pink Slip for Adding Tesla: Bill Smead By Caroline Hyde For more information go to www.bloomberg.com. 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 and described in this […]

12/23/20 by

Famed Climatologist Charlie Munger

We were fortunate to watch a recent interview Charlie Munger did with Caltech as a distinguished alum. We consider him to be one of the most successful contrarian investment thinkers on the planet. At 96 years of age, he has no fear of being politically incorrect. We contrast this with the mountain of writing, media and rhetoric associated with the topic of climate change.

12/22/20 by