A Book with Legs

How much trouble could a wind farm cause? Turns out, a lot. When Rick Jarrett decided to capitalize on strong gusts around his land in Big Timber, Montana, the prospect of a wind farm in the shadow of the Crazy Mountains upset hyper-wealthy neighbors who were more concerned about property aesthetics than multi-generation locals looking to make a living. It also caught the attention of Crow Tribe activists, for whom the Crazy Mountains held deep cultural significance.

In this week's episode of A Book with Legs Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Amy Gamerman, author of “The Crazies: The Cattleman, the Wind Prospector, and a War Out West." Gamerman has written about real estate and culture for The Wall Street Journal for more than two decades. Her work has earned multiple awards from the National Association of Real Estate Editors and has appeared in Vogue, Redbook, and Departures. She attended Yale University and King’s College, Cambridge.

Smead Capital Management Chairman and CIO Bill Smead and CEO and Portfolio Manager Cole Smead sat down with author and Columbia Law School professor Tim Wu for a special live taping of the A Book with Legs podcast at today’s Smead Investor Oasis. The three discuss Tim’s new book, titled “The Age of Extraction.”

The book unpacks one of the defining challenges of our time—the growing power of tech platforms. In this live episode, they explore the benefits and risks of that power, and what it will take to reclaim control and restore balance to the economy. Keep an eye out for a recording of the live episode, which will be posted today.

In this episode, learn how today’s geopolitics, climate change, and key happenings in the Arctic affect people and countries around the globe. The Arctic plays a complex role on the world stage, impacting everything from Russian national identity to shipping routes and military aspirations. Understanding these themes requires a comprehensive look at Arctic history, its exploration, and why it’s considered an important territory for major world powers.

Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Kenneth R. Rosen, author of “Polar War: Submarines, Spies, and the Struggle for Power in a Melting Arctic." Rosen is the recipient of the Kurt Schork Award for his reporting from Ukraine, Syria, and Malta, and has been featured in The New Yorker, The New York Times, and The Atlantic, among other publications.

In this episode, learn about how evergreen trees have uniquely shaped America as we know it today, impacting how we build our homes, celebrate holidays, and more. In fact, the American Revolutionary War might have really started with the Pine Tree Riot, which happened a year before the Boston Tea Party! Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Trent Preszler, author of “Evergreen: The Trees That Shaped America.” Trent is also a professor of practice in the Dyson School of Applied Economics and Management at Cornell University and serves as director of the Henry David Thoreau Foundation's Planetary Solutions Initiative. To hear more, check out the full episode!

In this special quarterly ‘book list’ episode, Cole Smead is joined by Smead Capital Management’s analyst team. Together, they discuss the books that they have recently finished and what they are reading now, including titles from authors such as Andrew Ross Sorkin, Roger Lowenstein, and more.

The Smead team also shares their perspectives on current markets and what shapes their points of view.

In this episode, Cole Smead is joined by economist and author David McWilliams to discuss his book, “The History of Money: A Story of Humanity.” McWilliams outlines the thesis of his book, that “money is the foundational technology that explains human progress.” The two examine through historical and contemporary lenses the meaningful ways that currency has shaped our society, impacted quality of life, and more.

In this episode, Bill Smead and Cole Smead are joined by author Charles Murray to discuss his book, “Taking Religion Seriously.” The three discuss Murray’s personal journey with religion and Christianity, as well as how modern explanations of the universe’s origins align with biblical accounts, what it means to be “tone-deaf spiritually,” and more.

In this episode, Cole Smead is joined by author James Grant to discuss his book, “Friends Until the End: Edmund Burke and Charles Fox in the Age of Revolution.” The book details the remarkable lives and friendship of British politicians Edmund Burke and Charles Fox, who often united in the pursuit of political causes, despite having wildly different lifestyles and backgrounds. Cole and James’ conversation also touches on their perspectives on today’s economy.

In this episode, Cole Smead is joined by author Brian Potter to discuss his book “The Origins of Efficiency.” The two discuss the importance and profound impact of efficiency when producing goods and services. Potter also explains how improved efficiency in penicillin production changed the world, the five factors of the production process, and more!

In this episode, author and professor Mark Blyth sits down with Cole Smead to discuss a book he co-authored with Nicolò Fraccaroli titled “Inflation: A Guide for Users and Losers.” Blyth unpacks the modern forces driving today’s economic shifts, explaining how they reach far beyond simple price increases. They also discuss modern means for managing the economy, energy trends, and more!