Bill Smead has been in the investing business for over 40 years and has seen multiple cycles. He has an idiosyncratic investing philosophy which seeks to buy high quality stocks when they are out of favour.
He has a concentrated portfolio of 26 stocks with 45-50% in the top 10 positions. Yet his holding period averages over 6 years. He explains why he thinks the stock market is going down over the next decade and offers his views on the stocks that will deliver great returns, focusing on demographics and out of favour sectors.
And he explains how to handicap a greyhound!
Show Notes
Behind the Balance Sheet is a fundamental investing podcast for serious investors. Each episode dives into how real‑world investors source ideas, build conviction and manage their portfolios.
You’ll hear frameworks for analysing industries, understanding business models, and thinking about risk, behaviour and incentives, so you can refine your own process rather than copy stock tips.
For full show notes, transcripts and additional resources, visit our website.If you value thoughtful, process-driven investing discussions, follow the show and consider leaving a short review, or even just a 5* rating on Spotify or Apple Podcasts. Please help spread the word.
