Insight & Perspective
Breaking News: March 12, 2020
Well-Known Money Manager David Tice Joins LMTR.Com to Contribute Market Insights Unavailable to Most Investors
LMTR.Com founders John DelVecchio and Brad Lamensdorf announced that well-known Dallas-based money manager and stock market analyst David Tice, known for advanced insights into major market turns, has joined the LMTR.com (https://lmtr.com/) to enhance the website’s mission of giving the average investor the unique kind of professional expertise and information on how to play the markets successfully that is not available to the general public.
Tice is known for predicting the credit bubble and the subsequent market crash of 2000, sponsoring the Credit Bubble & Its Aftermath on September 21, 1999 at the Waldorf Astoria Hotel, that was covered by the Wall Street Journal’s front page the next morning. In June 2001, He testified before Congress regarding conflicts of interest of Wall Street and the consequences of capital markets that lack integrity. He also predicted the 2008 global financial crisis & the mortgage finance bubble, blasting Fannie Mae & Freddie Mac & the reckless lending to the mortgage market & the eventual negative impact on the economy. More recently, based on a number of important credit statistics, other economic indicators, including geopolitical uncertainties, he has been warning about the fragile state of present markets and the economy that can be dangerous to the financial health of the average investor.
Tice first gained national recognition through several Barron’s articles he wrote, and from more than 200 appearances on business television networks. He has been described as taking the role of a Cassandra to warn investors about the dangers of investing near the end of a secular bull market and the problems with relying on credit growth to expand the economy. He has debated nearly every bullish Wall Street strategist.
Tice founded the Prudent Bear Fund (BEARX) and served as portfolio manager from 1996 to 2008 when, based on his success, he sold the fund plus the companion international fixed income fund, the Prudent Global Income Fund, to Federated Investors. Tice managed BEARX using short sales of overvalued common stocks and stock indices, as well as being long mining companies to achieve an excellent negatively-correlated investment return. For the ten years ended 12/2008 when Tice sold the fund, BEARX increased in value at a 7.97% annualized rate, while the S&P 500 lost 1.38% annually.
Tice began his investment career in 1988 by publishing Behind the Numbers, an investment research service that focused on “Quality of Earnings Warnings and Sell recommendations” for more than 150 money managers who collectively managed more than $2 trillion. This publication received great notoriety by first warning against Tyco for its aggressive accounting choices before the SEC investigation that eventually caused the company to lose tens of billions in market capitalization.
Tice currently serves as president of Tice Capital, LLC. He’s also on the advisory board of XBullion, a gold-backed secure token and the Vantage Point Australian Macro Fund, a fund designed to make money in an expected Australian mortgage crisis. He’s also been a very active board member and investor in a cybersecurity SaaS company that provides ‘intelligent data’ protection.
Says Brad Lamensdorf, “David is an enormous new resource for our mission at LMTR.Com to level the playing field for the average investor.”
Photo: David Tice