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Smead Looks To Take Advantage of 'Out of Favor' Large-Cap Stocks
August, 2007
By Matthew McCue
William Smead has launched an asset management firm for high-net-worth and institutional investors. The firm, Smead Capital Management, is based in Seattle and has plans to open another office in Scottsdale, Ariz. Smead most recently operated Smead Investment Group of Wachovia Securities, where he had $300 million under management.
Smead said he has an unusual opportunity in launching his firm.
“Most of the time, you don’t start a money management firm with about $300 million in assets under management,” he said. Smead said he feels now is an unusually good time for largecap stocks, as investors have been chasing hedge funds and high alternative returns.
“We think all of these forces have been unnaturally pulling money away from large quality,” he said. “We buy large capitalization quality companies when they fit our extensive criteria and are out of favor with a majority of investors for one reason or another,” said Smead.
“Our singular focus is to manage money through our discipline with our clients’ long term goals in mind. Our independence allows for added focus on portfolio management and client service thereby providing more time to communicate with and earn money for our clients.”
Smead said he runs money for about three or four foundations but the majority of his assets are with high-net-worth individuals. “We think there are a lot of avenues where we can manage money,” he said.
Reprinted with Permission of Emerging Manager Monthly
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