Think about what just happened. Institutional players engineered a wave of retail FOMO into traditional hedges and recession plays. Precious metals, defensive positions, fear-driven allocations—all seeing inflows.

Then comes the curveball: the biggest tech rally in history.

That timing gap? It's going to feel brutal for those who bought protection right before the bull run. Rock holders will watch from the sidelines as risk-on tech assets explode over the next few years. The narrative flips, the market rotates, and those defensive positions become anchors rather than shields.

It's a classic wealth transfer setup.