IMO, the second
I thought that you were the master of the subjunctive?
IMO, ft the fact behind the though is unsure or subsequently proven wrong, then it is subjunctive form and takes "to be"
The wreck was thought to be the missing cars"
The gas was thought to be the culprit in the sudden death of the woman.
The injury was not thought to be very serious.
The lake has a fish that was thought to be extinct.
The innonent man was mistakenly thought to be involved in the shooting.
If we know what the person is thinking, use "of as":
He was thought of as wise.
I am honored to be thought of as a leader of men.
Athletes are often thought of as role models, though some certainly do not deserve that moniker.
Former Senior Instructor, Manhattan GMAT and VeritasPrep
Vice President, Midtown NYC Investment Bank, Structured Finance IT
MFE, Haas School of Business, UC Berkeley, Class of 2005
MBA, Anderson School of Management, UCLA, Class of 1993