The new year has been off to a rocky start for Wall Street, with the Dow, S&P 500 and Nasdaq ending the week down more than 6 percent. Some investors are wondering if the U.S. is headed into bear market territory, while others hold that the fear is overblown.
"I'm still very bearish. I'm bearish on stocks, I still think we have a bubble," Tice Capital's president, David Tice, said Friday on CNBC's "Power Lunch." He thinks markets could fall as much as 30 or 40 percent over a period of six to 18 months.