Bill Smead looks ahead to the very best stock picks in 2023 and beyond.
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Investors might want to wait out the following 12 months to reap the financial rewards of the following decade, in response to Bill Smead, chief investment officer at Smead Capital Management.
“We all know we have now to sit down through the following probably 12 months of probably the tide continuing to exit and going against us temporarily to get to the cash we will make over the following 10 years,” Smead said on CNBC’s “Squawk Box Europe” Wednesday.
Smead said capital and labor-intensive businesses were winners as the worth of their income streams for the following decade “is far 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 because of the present property market within the U.S., Smead said.
“We all know that we have got to construct numerous houses in the following 10 years,” he said.
The U.S. housing market boomed at the peak of the Covid-19 pandemic as people looked to relocate and rates of interest reached a record low, however it has since cooled as recession concerns weigh on the minds of prospective buyers and sellers.
