Investors have already written off their losses

"Investors Can't Stop Buying Every Dip": The WSJ Explains Why Markets Soar To New Highs Every Day

Didn't read this but here is my guess.

Wealthy investors have the edge, the rig, and they know it is unsustainable and will reverse.  They already expect this.  So, any dip or increment they can nab is a small risk relative to the losses they already expect, on the correction.