Much of the reaction to those defeats has centred on the negative aspect of the Old Firm's performances.
Smith, whose side were taken to extra time in a Scottish Cup replay against Hamilton last month, told Rangers News: "We've scored against Accies in the past but we've also struggled to get them at times as well.
"Managers in Scotland have done an excellent job and that applies to Billy Reid too. He organises his teams very well.
"Hamilton are always difficult to play against. They have proved that over the last couple of seasons.
"They've got a lot of younger lads in their pool who are doing very well and they make things very difficult.
"I keep saying that people don't appreciate how difficult it is to overcome the sides we come up against.
"Because we and Celtic collectively have won so many championships, they underestimate the other teams.
"Looking in from the outside in Scotland, some just assume we turn up and win games but they don't understand it isn't that simple.
"Anyone who comes up here from England to work will testify that it's not as simple as some people believe."