how does a rightwing value fund manager talk about trump, who has destroyed his stock picks in multiple sectors? easy, he talks about problems manifesting from a window exactly 2-5 years past ! (and not just because its on fox )
further, smead touts his smaller int'nl fund offsetting some underperformance with no attribution at all .
its sad, because smead used to produce thoughtful insights on both sectors and specific names, but his disconnects lose a lot of credibility.
https://smeadcap.com/tv-appearances/fox-business-bill-smead-on-tarriff-threat-disruption/
Comments
The firm's founder, Bill Smead, was sometimes a guest on a locally-produced finance show.
Bill Smead's thoughts and comments were often very insightful.
The firm's original fund—Smead Value Fund—had performed extremely well until that time (>10 years ago).
I really liked Smead Value Fund but avoided it because of the high expense ratio.
I haven't been following the fund or the firm closely in recent years.
doesnt seem great again. but i read the quarterly letters, much shorter nowadays.
There are many good non political reasons to believe that Trump is bad for big tech and good for defense, but they were all mentioned a year or more ago. This interview would have been news in 2023 or 2024 not now.
Isn't his son taking over? Another red flag. BTW they have six sales mangers compared to five analysts.
My red flags in a mutual fund manager
Political bias showing
Manager starts wearing very expensive cloths ( exception seems to be Ron Baron as his funds are generally doing ok), shows up at Met Gala and the Riviera etc
Small firm being handed off to a family member ( Maybe Nicholas funds are and exception as the son has done a competent job)
Huge position in one stock ( occasionally this works out. Look at Kinetics and TPL)
Looks like an index
commentary is boilerplate blah blah