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- Stocks are in a "late secular bull market," BofA's Michael Hartnett said in a Friday research note.
- That'll end in either a bubble or a recession, he warned.
- Equities have sputtered recently, with investors fretting about stubborn inflation and slow growth.
The bull market that's pushed stock prices higher for the past year and a half will probably end in tears, Bank of America's Michael Hartnett warned.
Equities are in a "late secular bull market" that likely "ends with [a] bubble and/or recession," the bank's chief investment strategist wrote in a Friday research note seen by Business Insider.