David Tice sees multi-year depression coming
- Thread starter turkeyneck
- Start date
he has to be considered the king of perma bears. they have no more credibility than perma bulls.
How have his short sales since Dow 2000 done?
What I want to know is, how does this guy pay the bills? He has been wrong as wrong can be for most of his career. He has clearly never made a dime in long-run profit from the markets - obviously, if he actually traded his own recommendations, he would be a bankrupt several times over. How come he is not standing in line for food stamps? The only explanation is that he has non-market income, or he is fleecing investors with advisory fees. Either way, it kinda ruins his credibility as a market prognosticator.
What I want to know is, how does this guy pay the bills? He has been wrong as wrong can be for most of his career. He has clearly never made a dime in long-run profit from the markets - obviously, if he actually traded his own recommendations, he would be a bankrupt several times over. How come he is not standing in line for food stamps? The only explanation is that he has non-market income, or he is fleecing investors with advisory fees. Either way, it kinda ruins his credibility as a market prognosticator.
this fund of his does not seem to be doing too bad
http://www.prudentbearfunds.com/ind...unds&module=&task=globalPerformance&Itemid=30
http://www.prudentbearfunds.com/ind...unds&module=&task=globalPerformance&Itemid=30
His fund looks like it's doing well since 2005/2006 considering he's net short at all times (if he is, I am just assuming this). It could be a good means to lowering the overall volatility of a diversified portfolio for people that don't have access to short selling hedge funds.
Just annoying he is talking his book so aggressively whenever he gets a chance. Why not use the "lower your volatility" sales pitch rather than the "we're about to crash 50%" one?
Just annoying he is talking his book so aggressively whenever he gets a chance. Why not use the "lower your volatility" sales pitch rather than the "we're about to crash 50%" one?
A broken clock is right twice a day.
thanks for pointing that out.
so what.
That's a global income fund - totally different animal. It's his prudent bear fund that has the real performance - an average annual return of -0.22% since inception in December 1995, way below the S&P or even t-bills. You would actually have done better putting your money under the mattress. That, by any standards, is an atrocious record.
Now consider his expense ratio, of over 2%, and it is clear how Tice makes a living - delivering horrendous sub-cash returns, and fleecing investors with an extorionate annual charge for his diabolical results. This guy needs to retire and spare his investors further suffering.
A well managed short portfolio can be useful, but Tice clearly cannot deliver the goods. A good short seller should have done pretty well over the last decade or so, it has been the best environment for shorting since the 1970s, after all.