Indeed, it's like robbing a bank while the bank is holding a party. Except its everyone's portfolios who are invested in the index funds with potential exposure in scope.

High level, it's concerning to observe this unfold while almost every asset class is at its peak and there is no one willing to purchase (office real estate [1] [2], private equity [3], us equities [4], crypto, etc). Late Stage Capital Markets when you've exhausted greater fools available.

[1] Office Real Estate Is Facing ‘a Year of Reckoning’ in 2025 - https://www.bloomberg.com/news/features/2024-12-18/commercia... | https://archive.today/fTPSY - December 18, 2024

[2] Blackstone Is About to Take a 54% Loss on Iconic Seattle Tower - https://www.bloomberg.com/news/articles/2026-05-29/blackston... | https://archive.today/fcA8W - May 29, 2026

[3] https://news.ycombinator.com/item?id=47049024 (citations)

[4] BlackRock Scales Back Equities After ‘Generational’ Earnings [Peak S&P] - https://www.bloomberg.com/news/articles/2026-05-29/blackrock... | https://archive.today/lMIcH - May 29th, 2026