We are great admirers of the writing of the elite business publications like The New York Times and The Wall Street Journal. They recently stepped into one of our favorite subjects, technology company hegemony, which has developed in the business world in recent years.
A key element of global hegemony is the ability of a nation to project power. A nation that faces significant proximate threats will struggle to project power globally. In Part I, we examine American hegemony from a foreign nation’s perspective.
I traveled once to Africa, as you might have guessed by now, and it's been a part of me ever since. Being perhaps the cradle of civilization, if not life itself, Africa casts an eerie glow over the entire history and, indeed, meaning of existence.
A wave of euphoria has hit the markets, but fundamentals could be key in the year ahead.
Over a three-year time period, stock prices tend to mean revert. This has spawned numerous investment approaches which try to squeeze capital gains out of those reversions.
It was announced on December 15, 2016 that the current Chairman of the Federal Communications Commission (FCC), Thomas Wheeler, would be stepping down as of January 20, 2017. He has been the lead arbitrator and backer of a concept called “Net Neutrality.”
As is our custom, we close out the current year with our outlook for the next one. This report is less a series of predictions as it is a list of potential geopolitical issues that we believe will dominate the international landscape in the upcoming year.
In Part 1 of this report, published on November 21, we discussed the geography of the Philippines and examined the nation’s history, focusing on its relations with the U.S. In Part 2 of this report, we will discuss President Rodrigo Duterte’s recent foreign policy decisions and their impact on U.S. policy in the region.
We at Smead Capital Management are in the camp of long-duration investors who believe we’ve entered an extended period of intermittent interest rate increases, a reversal from the 35-year era of intermittent declining rates we have experienced since 1981.
As long-duration common stock pickers we seek to buy meritorious companies which fit our eight criteria for stock selection.