'The US is in Transition to a Much Stronger Period' - Expert

5:50 AM ET Thu, 5 July 2012

Bill Smead, CEO Smead of Capital Management, commented for CNBC on the fact that this month US retail same-store sales could see the smallest gain in 3 years: "We're in a transition period, but just a transition to a much stronger period. The US is paradise in comparison to the rest of the world and people should not underestimate the recovery that we'll make."