Bill Smead | TalkMarkets | Page 6

Bill Smead

CEO, Smead Capital Management
Contributor's Links: Smead Capital Management
William is the founder of Smead Capital Management, where he oversees all activities of the firm. As Chief Investment Officer, he is the final decision-maker for all investment and portfolio decisions as well as reviewing the implementation of those decisions in the firm’s separate accounts ...more
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True Stories Of Financial Euphoria Circa 1998-1999
Tuesday, July 28, 2020 9:19 PM EDT
When you are in a financial euphoria episode, like the one we are in currently, it is hard to visualize the impact it has when it breaks. Historically, it is the leading cause of stock market failure.
In this article: C, HPQ, IBM, SPX
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The Boy Who Cried Wolf
Tuesday, July 7, 2020 9:11 PM EDT
We are not in this business to be popular; we are here to seek to outperform our benchmarks and create wealth over time. One important way you do that is to avoid financially euphoric common stocks and be intellectually honest with investors.
In this article: AAPL, AMZN, NFLX
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Sins Of Omission
Monday, June 29, 2020 8:14 PM EDT
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.
In this article: ACA, DIS, PFE, WFC, XOM, COST, DISCA, MSFT
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Amazon Vs. Ebay: A Case Study In Business Models
Tuesday, June 16, 2020 6:00 PM EDT
Over the last 20 years, EBAY’s consolidated e-commerce model has produced more earnings than AMZN’s but is a distinctly different business model. EBAY has a business model far different from Amazon, which is drastically easier to run and maintain.
In this article: AMZN, EBAY
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American Pie
Tuesday, June 2, 2020 1:28 PM EDT
We are not grieving the death of economic optimism in the U.S. The value-based “levee” has “gone dry” for extended periods in the past. However, the stock market suffers from the curse of mean reversion. Value investing did not die.
In this article: AAPL, AMZN, MSFT, NFLX, META, SPX, GOOGL
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Only The Lonely Can Play
Tuesday, May 26, 2020 1:53 PM EDT
Great investment opportunities are lonely. History shows us the crowd behaviors to avoid and the investment market circumstances to capitalize on.
In this article: AXP, BAC, JPM, MAC, SPG, WFC, BKNG, SPX
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Gruesome Stocks
Tuesday, May 19, 2020 7:30 PM EDT
This is a critical time to tack away from the obvious and visible winners and start to build positions in areas that are heavily doubted and have little clarity.
In this article: AXP, NVR, DISCA, AAPL, AMZN, MSFT, META, MA, V
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Berkshire Hathaway Annual Meeting 2020: Buffett Contradicts Himself
Monday, May 4, 2020 11:30 PM EDT
If the range of what happens ends up leaning toward the worst-case scenarios, stacking up cash will look smart. When Warren called himself a trustee of Berkshire Hathaway on Saturday evening, it sent chills down our spine.
In this article: BRK-B, SPX
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Munger’s Phone Is Not Ringing
Tuesday, April 21, 2020 3:20 AM EDT
Berkshire Hathaway is gigantic, owning vast swaths of the U.S. economy in wholly-owned businesses. It came into this with over $120 billion in cash and produces copious amounts of new cash each quarter.
In this article: BRK-A Also: AXP, BAC, DIS, JPM, KO, OXY, WFC, AAPL, SPY
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The Blutarsky Moment
Tuesday, March 31, 2020 2:18 PM EDT
The coronavirus has done a surprise attack on the U.S. stock market and economy over the last six weeks.
In this article: AXP, LEN, TGT, WFC
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Panic Selling Exacerbates Bargains
Tuesday, March 17, 2020 1:38 PM EDT
Many of the best opportunities could come from those sectors of the U.S. stock market which require economic optimism and have been punished the most in the current decline by the medicine that’s being applied.
In this article: AXP, BAC, CVX, JPM, LEN, WFC, CSCO, DISCA, INTC, MSFT
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Viral Collapse Of Economic Optimism
Tuesday, March 3, 2020 11:30 PM EDT
The coronavirus has sucked all the economic optimism out of a market that has hugged tightly to large growth companies providing reliable sales or earnings momentum.
In this article: DIS, LEN, OXY, TGT, DJI
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Berkshire Hathaway: No Urgency In The Urgent Zone
Monday, February 24, 2020 3:07 PM EDT
To us, W. Buffett is the greatest value investor of our time. He wrote the annual letter to his Berkshire Hathaway shareholders on Feb. 22. This letter happens to coincide with some of his worst relative performance in the last year to five years.
In this article: BRK-B Also: AMGN
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Ethics In Stock Picking
Tuesday, February 11, 2020 9:57 PM EDT
If ethics are going to be included in stock market analysis, there needs to be a huge movement by most ESG investors to do their research and get real about the obvious contradictions in the stock market.
In this article: MRK, AAPL, AMZN, NFLX, META, GOOGL
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Buffett On Aesop And Cinderella
Monday, February 3, 2020 8:36 PM EDT
The fast-growing spread between growth and value in the last 30 days looks to us very much like the first 67 days of 2000 and the entire year of 1999.
In this article: SPX
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Beverly (Value) Hillbillies
Tuesday, January 21, 2020 10:25 PM EDT
Value investing will come back into favor in the everlasting tug of war between growth and value. It is just going to an extreme this time which presses even the most optimistic person
In this article: AXP, MAC, OXY, TGT, WFC, AAPL, AMZN, DISCA, EBAY, NFLX, META, GOOGL
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