David Tice, the original creator of the Prudent Bear Fund (short stocks, long commodities), spoke with Fox Business News today regarding his outlook on the markets. His prediction:
Gold $2,500 in the next two to three years and S&P 1000 in the next 18 months.
"We feel just like we did in 1999 and 2007," said Tice "[During] both of those periods, people were positive about credit being created, the central banks were easy, everybody was complacent, and we ended up having a big accident. You also see emerging market stocks start to underperform. You see Europe slowing down dramatically. China is now slowing down. Oil prices are up. This is indicative of the slower economy in the U.S."
