Forget the wealthy. Why this value manager is betting on average Americans, and the stocks he’s buying now.

1. Bill Smead predicts bear markets in next seven to eight years. 2. SMVLX focuses on stable, undervalued businesses amid volatility. 3. Fund underperforms in the short term but excels in the long term. 4. Smead emphasizes average Americans' purchasing power as a key driver. 5. Healthcare sector remains out-of-favor, presenting potential investment opportunities.