‘I believe in the Austrian School of Economics which says that the magnitude of the decline is proportional to the excesses that occurred during the pre-boom. I was in 1998, 1999 and 2006 to early 2007 … when it breaks, it is likely to break hard ‘
He is David Tice, former manager of Prudent Beer Fund BEARX,
In a recent interview to CNBC, explaining why it believes the market will eventually take a 30% hit will last two years.
“We now have a Biden administration consisting of a Senate and a House. He said on Friday that he was likely to implement too many anti-capital policies. “They have already raised the minimum wage. This is going to hurt earnings on the cost side. ”
Tice, known for placing bearish bets through his career, has his share of misfires. In fact, the Advisershare Ranger Equity Bear ETF HDGE, where he now serves as an advisor, has lost about a third of its value in the last three months.
However, the fund benefits when the market is hit, and Tice believes the day is coming. There are problems, he said, whether they are elevated prices or there is too much trust to control the epidemic.
“Vaccines aren’t really a panacea,” Tice told CNBC. “We’ve seen a lot of optimism about it, but there are new strains of the virus, and there is definitely a risk going forward.” So what to do in this climate? Tissue thrust on gold GC00
And bitcoin BTCUSD,
“Gold is dramatically owned by individuals and portfolio managers,” he said. “I do not think bitcoin can be ignored. We have seen that the price of bitcoin is $ 10,000 to $ 40,000, which I think could possibly be in gold.
Here are his comments: