In the summer of 2009, I was a regular guest on CNBC shows like “Larry Kudlow”. We believe we were invited to participate in those panel discussions because we were the token “bull” in the conversation and I am obnoxious enough to state my piece against significant mental and verbal opposition. The US stock market had bottomed in March of 2009 and rallied explosively into the late spring and early summer. We felt that the March lows and big first move of the bull market were similar to the move the US stock market made in August of 1982. However, the choruses of experts were screaming that we were in a “bear market rally” and that only fools would buy stocks at those “inflated” prices. The wide-spread consensus back then appeared to be that that the rally was only temporary. We believe the psychology of that group think was a great predictor of what has come to pass.
Berkshire Hathaway Annual Meeting Recap 5/7/2012 For more information go to watch.bnn.ca. The information contained in this tv appearance 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
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 are not afraid to admire people who disagree with us. If someone sincerely believes that
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: Among our most golden rules for investing is the rule that says to avoid or sell investments which are being