Stocks will fall at least 30% in a drawn-out bear market, investor David Tice warns

Stocks will fall at least 30% in a drawn-out bear market, investor David Tice warns

Long-time bear David Tice has new warning for investors.He expects stocks to fall at least 30% in a downturn that lasts two years. One of his major reasons: Business unfriendly policies from Washington."We now have a Biden administration that has a Senate and a House. They're likely to enact very much more anti-capitalist policies," the investor told "Trading Nation" on Friday. "They have already raised the minimum wage. That's going to hurt earnings on the cost side."According to Tice, easy monetary and fiscal policies that support money printing will also sting Wall Street."All of this is not good for financial markets," he added.Tice is known for running the Prudent Bear Fund before selling to Federated in 2008, just as the financial crisis was unfolding.Now as an advisor to the AdvisorShares Ranger Equity Bear ETF, Tice has spent much of his career making bearish bets during bull markets. His current fund, which is also designed to profit from underperformance, has been under pressure. It's down 32% in the last three months.In his latest warning, Tice contends the problems are piling higher. He also cites an overvalued market and coronavirus vaccine concerns for his pessimism."The vaccine is not really a panacea," he