Decade ahead will be great for investing but we'll need to wait 12 months first, CIO says

Investors volition request to hold retired the adjacent twelvemonth to reap the fiscal rewards of the adjacent decade, according to Bill Smead, main concern serviceman astatine Smead Capital Management.

"We cognize we person to beryllium done the adjacent astir apt 12 months of astir apt the tide continuing to spell retired and going against america temporarily to get to the wealth we're going to marque implicit the adjacent 10 years," Smead said connected CNBC's "Squawk Box Europe" Wednesday.

Smead said superior and labor-intensive businesses were winners arsenic the worth of their income streams for the adjacent decennary "is mode much viable than those stocks are representing."

Smead Capital Management has lipid and gas, onshore and Canadian lumber producers nether its belt, which should each beryllium bolstered acknowledgment to the existent spot marketplace successful the U.S., Smead said.

"We cognize that we've got to physique a batch of houses successful the adjacent 10 years," helium said.

The U.S. housing marketplace boomed astatine the tallness of the Covid-19 pandemic arsenic radical looked to relocate and involvement rates reached a grounds low, but it has since cooled arsenic recession concerns measurement connected the minds of prospective buyers and sellers.