The last bear on Wall Street: Why JPMorgan's Marko Kolanovic is sticking by his forecast for a 20% market sell-off

Hollis Johnson/Insider

• JPMorgan's Marko Kolanovic sees no reason to turn bullish on the stock market despite record highs.
• In a Monday note, Kolanovic reiterated his view that the S&P 500 could fall 20% to 4,200.
• "We do not see equities as attractive investments at the moment and we don't see a reason to change our stance," Kolanovic said.

Just one day after Morgan Stanley CIO Mike Wilson abandoned his bearish stock market call, JPMorgan's Marko Kolanovic is digging his heels in.