This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Prudent Bear's Tice Says the Plunge Is Coming

Global warming must be affecting the stock market as well. It isn't just polar bears that are in trouble. Bears of any kind are being wiped out left and right, and they're nearly extinct.

Someone call the World Wildlife Fund.

One of the few bears left in the wild is the so-called (symbol) Prudent Bear (BEARX) -- which, if my schoolboy Latin is correct, might also be known as Ursa Prudens.

It's been more than 10 years since Dallas-based investment manager David Tice launched this mutual fund to hoard gold, short the market and prepare ordinary investors for the coming economic Armageddon.

We spoke last week, just after the Dow topped 13,000.

"That's really irrelevant," Tice says of the landmark. "It's just a number." Does the market's seemingly inexorable rise shake his conviction that it's going to collapse? "It's been quite a rally," he acknowledged. "But it doesn't dissuade us in our opinion. We've never been more confident."

The Dow, he predicts, will fall "at least 50%" from these levels, and he says the market is only months away from beginning a sharp decline. "I think this is a topping pattern," he says.

"We think it's probably three to six months away from a significant decline." He calls the latest rally "a crack-up boom. At the tail end of credit excess it just gets crazier and crazier. It sucks people in, and it's an extremely dangerous scenario."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.04 0.00%
FB $80.55 0.00%
GOOG $539.79 0.00%
TSLA $247.43 0.00%
YHOO $43.38 0.00%

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs