When the market narrative shifts to "liquidity will return and fortunes await," it's worth pausing on a fundamental question: where does that capital actually come from?

Capital isn't conjured into existence. In any market, gains for one participant mean losses elsewhere—that's the zero-sum math nobody wants to discuss during bull runs. The market doesn't distribute windfalls; it extracts them.

This is where retail traders often stumble. The ease of talking about profits rarely matches the friction of actually capturing them. Markets reward those who recognize asymmetry; they punish those chasing narratives. If your thesis centers on "easy money coming back," you're likely not positioned to profit from it—you're potentially positioned as the exit liquidity someone else needs.