The stock market's bull run isn't getting the respect it deserves, JPMorgan's chief U.S. equity strategist, Tom Lee, said Monday.
"This is a bull market people don't like, don't respect," he said.
"I think individuals, especially high-net-worth individuals, have huge cash positions. I just think that right now stocks don't have any respect. I think there's a feeling that the best way to make money is through fixed income or real return instruments. And I think people are forgetting over time equities have been a great real return vehicle."
On CNBC's "Halftime Report," Lee said that there would be a market tilt toward cyclical stocks.
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