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.

The Boy Who Cried Wolf

In the business of common stock portfolio management, most of your time is spent practicing your own specific discipline. However, extremes of mass psychology force you to take very uncomfortable positions for extended periods of time. When folks are scared to death of owning common stocks, like in late 1987, late 1990, late 2008 to early 2009, and in March through May 2020, we must provide evidence to “be greedy when others are fearful.”

07/07/20 by

Bloomberg: Bill Smead on Commodities

Buffett’s Berkshire Ends Deal Drought With Dominion Bet (07/05/2020) By Katherine Chiglinsky 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 article do not […]

07/06/20 by

Sins of Omission

Dear fellow investors, With markets extremely difficult and volatile as we work through COVID-19, we thought it would be good to review important parts of our investment discipline. One way to do that is to consider stocks we found via our eight criteria for stock selection and did not keep long enough to get to […]

06/30/20 by

Barron’s: Tony Scherrer, CFA on Bank Stocks

Bank Dividends Face Manageable Stresses. But There Are Some Wild Cards. By Alexandra Scaggs For more information go to www.barrons.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 article do […]

06/30/20 by

Financial Times: Tony Scherrer, CFA on Banks

Fed stress tests US banks for the pandemic era By Laura Noonan For more information go to www.ft.com. Stocks mentioned: BAC, JPM, WFC The information contained in this article represents Smead Capital Management’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 […]

06/30/20 by