Prominent macro strategist Tom Lee once took objection to what he viewed as a popular perception that if something isn’t working now, it will never work in the future.
Lee’s Pitches That Have Faced Pushback
During an interview aired Oct. 3, Lee was asked which of his ideas he believes are being “overlooked” by investors and still haven’t caught on.
The Head of Research at Fundstrat replied that Bitcoin (CRYPTO: BTC) has consistently received the most pushback.
Lee pointed out that the leading cryptocurrency has risen from $1,000 to $72,000 in just eight years, but people still tell him, “Bitcoin doesn’t do anything.”
Lee Objects To Small-Cap Pessimism
The other area where he faced opposition is small-cap stocks, which he felt were significantly “underowned.”
Small-cap stocks are assets with a market capitalization between $300 million and $3 billion.
“People in general think if something isn’t working now, it’ll never work,” Lee stated, adding that liquidity-centric investors tend to avoid small caps.
“I think small caps could really be the star of the next decade,” the analyst projected.
Lee: A Permabull?
Lee, who previously served as Chief Equity Strategist at JPMorgan, is renowned for his bullish forecasts on stocks and, more recently, cryptocurrencies.
Lee was one of the first major Wall Street strategists to provide formal research coverage of Bitcoin to his clients.
He became chairman of the board of directors of Bitmine Immersion Technologies Inc. (NYSE:BMNR), an Ethereum (CRYPTO: ETH) treasury firm.
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