For a long time now, passive capital inflows have powered equities higher, especially the Magnificent 7, as a tremendous percent of every new dollar that flows into the market goes into these 7 stocks.

But some of these once-bulletproof companies are now starting to struggle.

And those passive capital inflows? There are emerging signs they may be stalling, perhaps even starting to reverse.

If true, could that take asset prices down just as powerfully as it drove them higher?

To help us find out, as investors have a lot riding on the answer, we have the good fortune of speaking with investor and analyst Bill Fleckenstein of Fleckenstein Capital.

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