David Tice of Tice Capital is spot on with his analysis of the present market conditions. Although I don't completely agree that the market would decline 60%, I could see how the market could decline 30% and maybe even 40% if panic takes control of investor thinking. Stocks, and other assets, continue to become overvalued and analysts seem to only see the "potential" and best possible scenarios for companies. Some analysts are even looking towards the NASDAQ hitting 5,000 next year! Value investors should proceed with absolute caution as Wall Street anlaysts and pundits seem to be listening to their own bullish outlooks of 1999 and 2007. I can't say that the market will correct tommorrow, next week or next year, but when it does it will look awfully familiar.