Our dollar is surging because the pos Bailout lost.
Besides the Dow/DIA, the S&P 500/SPY is doing even better.
Posted on 09/30/2008 1:08:55 PM PDT by Rufus2007
The doom and gloom crowd was piling on after a record one-day 777-point drop in the Dow Jones Industrial Average (DJIA).
David Tice, who manages the $1.1 billion Prudent Bear Mutual Funds from the Virgin Islands, offered a bleak assessment of the financial future in an interview with Bloomberg TV anchor Carol Massar on Sept. 30.
“Unfortunately Carol, we don’t believe that the pain is over,” Tice said. “We think that we’re going to have to pay for the excesses of really the last five to 10 years of this excessive credit growth with a dramatic slowdown in the economy, dramatically lower markets. We’re still above 10,000. We think we’re going to, you know, fall below 5- or- 6,000 on the Dow and we think we’re going to have to readjust the U.S. economy towards less consumption – where we pay for goods with goods.”
..more (w/video)..
(Excerpt) Read more at businessandmedia.org ...
He runs a Bear fund. What do you expect him to say?
I guess someone forgot to tell him the DJIA is up almost 500 today (so far).
Really? Why is all that European money rushing here? Why hasn’t OPEC gone tothe EURO? Poppycock..Fooled me once—not again.
And probably is heavy into gold.
Really? Why is all that European money rushing here? Why hasn’t OPEC gone tothe EURO? Poppycock..Fooled me once—not again.
the sky is falling, the sky is falling! BS
“probably is heavy into gold”
and, no doubt, a seasoned short-seller!
Never trust anything that comes out of the Virgin Islands, Maaann, except Estate Diamond RUM! (PS: there are NO virgins left down there!)
This is like Warren Buffet supporting the death tax
because his business is selling vehicles to avoid the death tax.
I swear, whenever these leftist bastids speak, I always know the opposite is good for the country.
I’ll have some of what he’s having! Must be good stuff.
What an idiot.
Tice is actually quite the expert on bear market rallies, especially vicious 62-78% Fibonacci ones. These rallies confirm the bear market is still alive. When the moonshot rallies stop, and the gradual climb begins, the bear market is probably over.
Isn’t this guy a big donor to Ron Paul’s presidential campaign?
Actually, Tice is very conservative. He wants the system washed clean, as do many here.
I say Dow 7,500, gold 4,000, but Tice is on the right track. Historically, the ratio between one share of the Dow and one ounce of gold always returns below 2/1 at the Dow’s secular bear market low.
Our dollar is surging because the pos Bailout lost.
Besides the Dow/DIA, the S&P 500/SPY is doing even better.
He’s just giving us more cr@p for that cr@p sandwich Congress has been making for us to swallow.
You’re right—I’d like to see a nice 6-8 week trend before making any sort of claim.
He’s on crack.
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