The $7 Trillion Rotation No One on Wall Street Wants to Talk About

Every great rotation in financial history begins the same way: with silence, then denial, then panic.

Last year, global long-only funds sold roughly $160 billion of U.S. equities. At the same time, they added more than $160 billion to Asian and emerging market stocks, according to Bank of America.

That’s not a rebalance.
That’s a migration.

And it’s happeni…