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 ... more

ALL CONTRIBUTIONS

How Bizarre
“Every time I (we) look around,” we see buyers of expensive stocks and, as always, fear stock market failure.
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The McNealy Problem
We are using the corporate history of Microsoft (MSFT) and Cognizant Technologies (CTSH) to understand what other businesses like DocuSign will need to have in order to produce huge corporate success.
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Berkshire: Pinch Hit Weschler
We have argued for years that the biggest mistake being made by Berkshire Hathaway was not giving shareholders access to the thoughts and investment discipline of their two talented stock pickers, Ted Weschler and Todd Combs.
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COVID-19: Summer 2020 Versus Summer 2021
Between March and November of 2020, value investing and stock picking were pretty much left for dead.
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Tech: Always And Forever
Amazon, Apple, and Microsoft stock results are “just like a dream” to the investors who took that leap of faith ten years ago. Even a few years ago, like Warren Buffett’s Apple purchase, has been a “dream.”
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Good Medicine At Bargain Prices
The pandemic has provoked a rethinking of pharma-biotech in our society.
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STOCKS I FOLLOW

AFL AFLAC Incorporated
AMGN Amgen Inc.
APA Apache Corporation
APC Anadarko Petroleum Corporation
AZN AstraZeneca Group plc
BAC Bank of America Corporation
CAB Cabela's Incorporated
CB Chubb Corporation
CBS CBS Corporation
CMCSA Comcast Corp. Class A Common Stock
CMG Chipotle Mexican Grill Inc.
DIA SPDR Dow Jones Industrial Average
DIS The Walt Disney Company
EBAY eBay Inc.
GCI Gannett Co. Inc.
GLCNF GLENCORE INTERNATION
GLNCY GLENCORE INTERNATION
HD Home Depot Inc.
HRB H&R Block Inc.
JPM JPMorgan Chase & Co.
KMB Kimberly-Clark Corporation
KO The Coca-Cola Company
NAVI Navient Corp.
NFLX Netflix Inc.
NVR NVR Inc.
NWSA News Corporation
PM Philip Morris International Inc.
QQQ PowerShares QQQ Trust Series 1
SCHA Schwab U.S. Small-Cap ETF
SH ProShares Short S&P500
SLM SLM Corporation
SMVLX Smead Value Fund Investor Class Shares
SPY SPDR S&P 500
SSO ProShares Ultra S&P500
TGNA TEGNA Inc
USO United States Oil Fund, LP
VV Vanguard Large-Cap ETF
WBA Walgreens Boots Alliance, Inc.
WFC Wells Fargo & Co.
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Unforgettable And Uninvestable
It has been so long since value has reasserted its historical dominance that most investors have forgotten why price matters when you buy stocks.

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