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David Tice

Landov

David Tice

President, Prudent Bear Fund

In 1999, Tice wrote a report questioning the "accounting intrigue" of $36 billion conglomerate Tyco International. Shares of the stock fell 75% in three years, and Chief Executive Officer Dennis Kozlowski was later convicted of skimming over $400 million from company funds. Years earlier, Tice had launched the short Prudent Bear Fund (BEARX) when he sensed the market was feasting on a diet of "cocaine and tequila," or propping itself up with excessive debt. It wasn't until an 18-year bull run for stocks came to an end in 2000 that his bearishness was validated.