By Daily Crux Editor Sean Goldsmith:

The S&P's 28% rise since March 9 is a "sucker's rally," and the index may plunge 62% from here, according to David Tice of Federated Investors.

Stocks are overvalued relative to earnings, which won't increase for at least three quarters. "We are closing down factories and retailers and businesses all over the place. How in the world are earnings going to stabilize? We just don't see it."

Tice also expects companies to trade between 1 and 0.5 times their liquidation value, versus a current ratio of 1.9... "I've never been more confident that this market will fall back to at least book value," Tice said.

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