LISTEN TO THE EPISODE
Jonathan & Michael are joined by famed bear investor, David Tice. David Tice is well known for founding and managing the Prudent Bear Fund (BEARX) from 1996-2008. For the ten years ended 12/08 when Tice sold the fund, BEARX increased in value at a 7.97% annualized rate, while the S&P 500 lost 1.38% annually. The conversation spans:
- general bear market sentiment around Covid-19
- currency market
- digital assets & digital central bank currencies
- opportunities for investors in a trashed out bear market
- gold (you get the point).
About David Tice
Aside from his pioneering work with BEARX, David is also known for sponsoring the Credit Bubble & Its Aftermath on September 21, 1999 at the Waldorf Astoria Hotel, that was covered by the WSJ’s front page the next morning. David’s “Behind the Numbers” research report on Tyco Int’l prompted investor and regulator scrutiny that eventually caused the company to lose tens of billions in market capitalization.
David most recently became the Chief Investment Officer of Ranger Bear Fund (HDGE), an actively managed ETF that looks to profit from bearish sentiment. The conversation spans:The Ranger Bear fund (HDGE) establishes short positions in stocks chosen by the management team in companies that look likely to struggle. The managers look for low earnings quality or aggressive accounting (among other things) to help determine stocks that may be set to fall. Low earnings quality, as the fund’s home page notes, could include a negative forecast or downward revisions.