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☆ Current economic conditions can be thought of 'as being like the 1970s,' CIO says
▼ + stars: | 2023-09-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCurrent economic conditions can be thought of 'as being like the 1970s,' CIO saysBill Smead, founder and chairman of Smead Capital Management, says "all the things we learned in college about inflation no one talks about. Inflation is too many people with too much money chasing too few goods."

Persons: Bill Smead Organizations: Smead Capital Management

☆ 'Manias die in vicious ways': A pair of fund managers who have beaten 99% of their peers over the last 5 years warn the S&P 500 will shed at least 30% of its value when the current bubble pops
▼ + stars: | 2023-08-26 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

They likened the current environment to the dot-com bubble around 2000. Cole told Insider he thinks the S&P 500 will lose at least 30% of its value in the years ahead. "This financial euphoria episode has gone to a sustained high that makes the dot-com bubble look like small change," he wrote in the August 22 letter. Smead is the founder of Smead Capital Management and comanages the Smead Value Fund (SMVLX) with his son, Cole. Don't take that to mean the S&P 500 will deliver low returns every year until 2033.

Persons: Cole Smead, Cole, Bill Smead, Smead, Russell, Akin Oyedele, It's, Manias, Bill, Dubravko Lakos, Lakos Organizations: Smead Capital Management, Yahoo Finance, it's, Netflix, Visa, Mastercard, Paypal, Smead, Federal, JPMorgan, CNBC, Conference

☆ American's read on inflation comes from what they pay at the pump, says Bill Smead
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican's read on inflation comes from what they pay at the pump, says Bill SmeadBill Smead, chief investment officer at Smead Capital Management, joins 'The Exchange' to discuss the latest jobs report numbers, safe positioning strategies for stock investors and differentiating corporate success from stock success.

Persons: Bill Smead Bill Smead Organizations: Smead Capital Management

The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey, U.S., July 12, 2018. Merck said Keytruda sales for the quarter jumped 19% to $6.3 billion, surpassing analysts' average estimate of $5.9 billion. Sales of Gardasil, which prevents cancers caused by HPV, surged 47% to $2.5 billion, also well above Wall Street estimates of $2.1 billion. There is room for further Gardasil growth as its use expands into treating males and moves into smaller cities, he added. Despite those challenges, Merck raised its full-year sales forecast to $58.6 to $59.6 billion, from its prior view of $57.7 billion to $58.9 billion.

Persons: Brendan McDermid, Merck, Rob Davis, Davis, Keytruda, Caroline Litchfield, Litchfield, Bill Smead, Prometheus, drugmaker, Michael Erman, Leroy Leo, Bill Berkrot Organizations: Merck, Co, REUTERS, Reuters Connect Companies Merck, Merck & Co, Keytruda, Prometheus Biosciences, Analysts, Prometheus, Smead Capital Management, drugmaker, Thomson Locations: Rahway , New Jersey, U.S, United States, China, Europe, Germany, New York, Bengaluru

☆ A fund manager beating 99% of his peers over the last 5 years explains why value is gearing up for a rebound following AI-driven mania — and shares 7 cheap stocks to bet on
▼ + stars: | 2023-07-13 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

A common phrase you'll hear from folks at Smead Capital Management is "fear stock market failure." He manages the Smead Value Fund (SMVLX), which has beaten 99% of similar funds over the last five-year period, and 97% over the last 10- and 15-year periods, according to Morningstar data. Value stocks to buyWithin value stocks, Smead is most bullish on the energy sector, as he believes we're in the earlier stages of a "commodities super cycle." Another area of the market Smead is bullish on right now is shopping mall real-estate investment trusts, or REITs. "Collecting a 6% dividend from them and having upside potential in a stock market that might struggle looks like a winning hand."

Persons: Bill Smead, Smead, he's, Smith Barney, Wells, Ben, we're, Stifel's Barry Bannister, millenials, it's Organizations: APA, DVN, MAC, Smead Capital Management, Morningstar, Smead Capital, Smead, Management, Occidental Petroleum, ConocoPhillips, Property Group, Simon Property Group Locations: OXY, Devon

☆ A fund manager who's beaten 99% of his peers over the last 5 years warns stocks face 'destruction' as hype around AI stocks lifts valuations to dot-com-bubble levels
▼ + stars: | 2023-07-01 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 is back within an earshot of its January 2021 all-time high as it rides what is now a 24% upward charge back into bull-market territory. And the founder of Smead Capital Management is betting his strategy work for him again when the hype around artificial-intelligence stocks sputters out. Smead Capital ManagementThat means bad news for the broader index when the episode is over, he said. Smead Capital ManagementSecond, the top seven stocks in the S&P 500 have a collective price-to-free cash-flow ratio near 70. Smead Capital ManagementAnd third, the tech sector of the S&P 500 is hitting valuation levels last seen during the dot-com bubble.

Persons: Bill Smead, you've, Smead, Mike Wilson, Morgan Stanley, José Torres Organizations: Morningstar, Smead Capital Management, Apple, Microsoft, Meta, Nvidia, RCA, Smead, Management, Interactive Brokers, Reserve

☆ Fund manager makes bold call that oil prices will double, picks stocks to cash in
▼ + stars: | 2023-06-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Bill Smead, chief investment officer at Smead Capital Management, has a bold market call: that oil prices could soar more than 100% in the next few years. The group expects global oil demand to hit 110 million barrels a day in about 20 years , pushing the world's energy demand up by 23%. Others have also taken a bullish stance on oil prices over recent weeks. Nevertheless, it said: "We believe that, at some point in the coming weeks, market fundamentals will drive the oil market. Nuttall likes Cenovus Energy and MEG Energy .

Persons: Bill Smead, Smead, CNBC's, Brent, Eric Nuttall, Nuttall, Warren Buffett, – CNBC's Ying Shan Lee Organizations: Smead Capital Management, OPEC, Ninepoint Partners, Saudi, Rystad Energy, Energy, Fund, Occidental Petroleum, Devon Energy, Cenovus, MEG Energy Locations: United States, Saudi Arabia, Europe

☆ Warren Buffett's rival for attention at Berkshire weekend: Squishmallows
▼ + stars: | 2023-05-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

[1/2] Investors and guests walk by a Squishmallow display during the Berkshire Hathaway Inc in Omaha, Nebraska, U.S. May 5, 2023. On Friday, the start of Berkshire Hathaway Inc's (BRKa.N) three-day shareholder weekend, thousands thronged a convention hall in downtown Omaha, Nebraska, for five hours to buy discounted products from many Berkshire-owned brands. For many, the $9.99 Squishmallows featuring Buffett and Munger, made by Berkshire's recently acquired toy company Jazwares, were the must-have memento. About 10,000 Buffett and Munger Squishmallows were sold, and by Monday they were fetching as much as $255 at auction on eBay. Reporting by Jonathan Stempel in Omaha, Nebraska Editing by Megan Davies and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Warren Buffett's successor Greg Abel is wooing shareholders, but some questions remain
▼ + stars: | 2023-05-05 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

To say that Warren Buffett's successor Greg Abel has big shoes to fill would be an understatement. The vice chairman for non-insurance operations at Berkshire Hathaway recently joined Buffett in Japan to visit the country's top trading houses. Skin in the gameAbel recently loaded up on Berkshire Hathaway shares with his personal assets. Berkshire acquired MidAmerican Energy in 1999, and Abel became CEO of MidAmerican Energy in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014. How does dispute resolution work if there is a dispute," said a Berkshire shareholder, who spoke on the condition of anonymity.

☆ Warren Buffett's Berkshire Hathaway has been a fortress stock during recessions and bear markets. Here's how
▼ + stars: | 2023-05-05 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Since 1980, Berkshire shares have beat the broader market over the course of six recessions by a median of 4.41 percentage points. The iPhone maker has outperformed throughout the bear market, similarly driving outperformance for Berkshire Hathaway as Apple accounts for roughly 45% of the firm's portfolio, according to CNBC's Berkshire Hathaway portfolio tracker. That has helped Berkshire Hathaway Class A shares climb more than 4% this year. That's who's gotten rich from owning Berkshire Hathaway," said Bill Smead, founder and chairman of Smead Capital Management and a Berkshire shareholder. "People held Berkshire Hathaway to a fault and they got that benefit."

☆ Watch CNBC’s full interview with Bill Smead on First Republic takeover and health of banking sector
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Bill Smead on First Republic takeover and health of banking sectorBill Smead, Smead Capital Management chief investment officer, joins 'The Exchange' to discuss the banking crisis and fallout and how investors should position.

☆ Bill Smead on SVB fallout: Free money created a lot of ignorant investments
▼ + stars: | 2023-05-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBill Smead on SVB fallout: Free money created a lot of ignorant investmentsBill Smead, Smead Capital Management chief investment officer, joins 'The Exchange' to discuss the banking crisis and fallout and how investors should position.

☆ Buffett's silence on certain sectors speaks volumes, says Bill Smead
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuffett's silence on certain sectors speaks volumes, says Bill SmeadBill Smead, chief investment officer at Smead Capital Management, joins 'The Exchange' to discuss energy names to watch, Warren Buffett's equity approach, and the potential for mega mergers in the energy space.

☆ The implosion of Silicon Valley's largest bank has investors worried worse is to come: 'There might be some kind of crack in the financial system'
▼ + stars: | 2023-03-10 | by ( Hasan Chowdhury | James Dean | ) www.businessinsider.com time to read: +5 min

The implosion of the California lenders Silicon Valley Bank and Silvergate has investors worried. Christopher Whalen, the chairman of Whalen Global Advisors, a financial consultancy, said Silicon Valley Bank was "just the tip of the iceberg." He added that the situation at Silicon Valley Bank was "a reminder that many institutions are sitting on large unrealized losses" on bond holdings. Mould said the "fire sale" of Silicon Valley Bank's bond portfolio raised broader concerns. Silicon Valley Bank CEO Greg Becker on Thursday implored customers to "stay calm" in an apparent bid to stave off further mass withdrawals and avert collapse.

☆ A fund manager who's beaten 99% of his peers over the last decade shares 5 energy stocks he's betting on right now as 'oil and gas profits could become one of the only games in town' during a recessio
▼ + stars: | 2023-03-02 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

Energy stocks still have more upside even after their big run, says Bill Smead. Energy stocks have soared since their pandemic lows, with the Energy Select Sector SPDR Fund (XLE) up 230% since March 2020 compared to the S&P 500's 71%. Further, Smead said an incoming recession could wipe out profits in other industries, leaving investors to flock to the oil industry. Nothing could be better than producing addictive fossil fuel energy at higher and higher prices for the next decade." 5 energy stocks to watchWhile Smead is bullish on energy broadly, he especially likes firms that aren't giants in the industry.

☆ Buffett's Berkshire has record annual operating profit despite inflation, rate pressures
▼ + stars: | 2023-02-25 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

Feb 25 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and rising interest rates contributed to lower earnings in the fourth quarter. Buffett called 2022 a "good year" for Berkshire in his annual shareholder letter, after the conglomerate's dozens of businesses generated $30.8 billion of profit despite rising inflation and supply chain disruptions, including from the war in Ukraine. Berkshire also bulked up its cash hoard, ending the year with $128.6 billion after selling about $16.3 billion of stocks in the fourth quarter. Quarterly operating profit fell 8% to $6.71 billion, or $4,596 per Class A share, from $7.29 billion. Berkshire projected that Geico, which shed 7% of its 41,000-person workforce last year, will generate an underwriting profit in 2023.

☆ Tech's on a roll. But some market pros aren't convinced
▼ + stars: | 2023-02-16 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Bill Smead, chief investment officer at Smead Capital Management, for example, says it has the hallmark of a bear market rally. "We believe that enthusiasm for aggressive technology-oriented stocks in the last couple of months is exactly what you get in a bear market rally. Whether it be Tesla or any of the aggressive growth stocks, they are in a bear market rally and they are going to try to convince people that the bear market is over. "And that's what a bear market rally looks like it. JPMorgan has also turned more bearish on the tech sector, just months after it turned positive on the sector in October.

☆ TSMC out of favor with slew of funds alongside Berkshire, filings show
▼ + stars: | 2023-02-15 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

The announcement drove shares in TSMC down 6% on Wednesday, although they remain up 23.5% this year. Equity long-short hedge fund Tiger entirely sold its 1.3 million shares in TSMC in the fourth quarter, a stake worth $119 million at current prices. Fund manager Capital Group also sold over 9.5 million shares in the chipmaker, regulatory filings showed. JPMorgan and BlackRock dumped roughly 4 million shares in TSMC each. On Tuesday, Charles Munder, a director and vice-chairman of Berkshire, said TSMC is the "strongest semiconductor company on earth," without elaborating on the reasons for the sale.

☆ The economy is going to be better than expected, says Smead Capital Management's Bill Smead
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy is going to be better than expected, says Smead Capital Management's Bill SmeadBill Smead of Smead Capital Management joins 'The Exchange' to discuss the economy and the homebuilder trade. He's been bullish on the homebuilders for nearly a decade.

☆ U.S. inflation is likely 'far stickier' and could last a decade, Bill Smead says
▼ + stars: | 2023-02-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

U.S. inflation is likely to be "far stickier" and could last a decade, according to Bill Smead, chief investment officer at Smead Capital Management. Wall Street is gearing up for key inflation data later Tuesday, when the Labor Department releases its January consumer price index. It is a widely followed inflation gauge that measures the cost for dozens of goods and services spanning the economy. "The enthusiasm … right now is the hope that we'll get a friendly Fed out of a soft landing, and we do not believe that is going to be the case," Smead told CNBC's "Streets Sign Asia." "We think the inflation is going to be far stickier and longer lasting — in fact, a decade because in the United States, we have incredibly favorable demographics."

☆ Inflation in the U.S. will be 'far stickier and longer lasting,' says portfolio manager
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation in the U.S. will be 'far stickier and longer lasting,' says portfolio managerBill Smead of Smead Capital Management says the U.S. Federal Reserve is going to have a hard time controlling inflation.

☆ Investors should be encouraged the Fed is serious about inflation, says Haverford's Hank Smith
▼ + stars: | 2022-12-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should be encouraged the Fed is serious about inflation, says Haverford's Hank SmithBill Smead, chief investment officer at Smead Capital Management, and Hank Smith, head of investment strategy at Haverford Trust, join CNBC's 'Squawk Box' to break down their investment strategies ahead of the open.

☆ Energy stock playbook for 2023: Here's what investors should expect
▼ + stars: | 2022-12-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy stock playbook for 2023: Here's what investors should expectBill Smead, chief investment officer at Smead Capital Management, joins 'The Exchange' to discuss the rationale behind his top energy picks, the performance expectations for energy as the electric transition is underway, and strategic positioning based off Fed policy.

☆ Watch CNBC's full interview with Bill Smead on his 2023 playbook for energy stocks
▼ + stars: | 2022-12-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bill Smead on his 2023 playbook for energy stocksBill Smead, chief investment officer at Smead Capital Management, joins 'The Exchange' to discuss the rationale behind his top energy picks, the performance expectations for energy as the electric transition is underway, and strategic positioning based off Fed policy.

☆ Decade ahead will be great for investing but we'll need to wait 12 months first, CIO says
▼ + stars: | 2022-12-14 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Bill Smead looks ahead to the best stock picks in 2023 and beyond. Investors will need to wait out the next year to reap the financial rewards of the next decade, according to Bill Smead, chief investment officer at Smead Capital Management. Smead said capital and labor-intensive businesses were winners as the value of their income streams for the next decade "is way more viable than those stocks are representing." Smead Capital Management has oil and gas, land and Canadian lumber producers under its belt, which should all be bolstered thanks to the current property market in the U.S., Smead said. "We know that we've got to build a lot of houses in the next 10 years," he said.

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