Chinese Private Fund Founder Says Insurer Cut Tech Stocks After Buying July Highs

The anecdote matters less as a disclosure about insurers than as a window into behaviour: large, supposedly patient institutional money buying momentum at a peak and then de-risking into weakness. If that pattern is widespread, it undercuts the premise that long-horizon capital cushions drawdowns rather than deepening them. Insurers' refusal to discuss short-term moves leaves the claim unverified, and whether other allocators describe similar late-September exits is the open question.