Surprise? March 9 (Bloomberg) -- David Tice, whose bet against U.S. stocks the past four years punished his Prudent Bear Fund, says the market is headed for a drop of as much as 50 percent. ``People ask me, `Doesn't it get lonely out there? Don't you feel like you're wrong?''' Tice said. ``It doesn't. I feel very, very comfortable going to sleep at night knowing we're going to be right.'' http://www.bloomberg.com/apps/news?pid=20601103&sid=aw8fu_i_jWek&refer=us
Doubt if the S&P will go anywhere near 730. However the PE ratio on the S&P could drop by 50% over the next 10 years, even if stock prices go up.
unbelievable that this loser is managing other people's money... and he isn't the only one... What a BS statement! What's his job then?
________________________________ Tice and Arnott are at odds with all 15 Wall Street strategists tracked by Bloomberg News, who stuck with their forecasts that the S&P 500 will advance in 2007 even after last week's tumble. The group includes advisers from Citigroup Inc., Goldman Sachs Group Inc. and Merrill Lynch & Co. ________________________________ There is a warning sign. The bullshit brokers holding onto their estimates is scary. These are the same brokers who held onto their $300 and $500 targets in 2000 while the tech stocks crashed... I also remember Shitman sachs making a $150 target on oil right at the top. Yea, just get the public excited and then dump it on them...fuckin devils
It was rather Shitman Sucks...if I recall correctly. This loser Tice is wrong for 4-5 years, and just because of an 1 day drop he is now a hero?!?! Those articles about those losers and their predictions are absolutely crap. Articles about Shitman Sucks and their targets are also crap.
I wonder if he hasnt been misquoted. In the article he quotes one stock GM, which might fall from $31 to 15. A 50%+ drop. If there is 10 to 20% correction in the broad market, then yes there will be many individual stocks that are down 50%+.
"It was rather Shitman Sucks...if I recall correctly. " you mean those reptialbe intregity abound gldman ballsacks? LOL there my heros