{"version":"1.0.0","segments":[{"startTime":1.04,"endTime":1.444,"body":"You're"},{"startTime":1.444,"endTime":1.848,"body":"about"},{"startTime":1.848,"endTime":2.252,"body":"to"},{"startTime":2.252,"endTime":2.656,"body":"join"},{"startTime":2.656,"endTime":3.06,"body":"Niels"},{"startTime":3.06,"endTime":3.464,"body":"Kaastrup-Larsen"},{"startTime":3.464,"endTime":3.868,"body":"on"},{"startTime":3.868,"endTime":4.272,"body":"a"},{"startTime":4.272,"endTime":4.676,"body":"raw"},{"startTime":4.676,"endTime":5.08,"body":"and"},{"startTime":5.08,"endTime":5.484,"body":"honest"},{"startTime":5.484,"endTime":5.888,"body":"journey"},{"startTime":5.888,"endTime":6.292,"body":"into"},{"startTime":6.292,"endTime":6.696,"body":"the"},{"startTime":6.696,"endTime":7.1,"body":"world"},{"startTime":7.1,"endTime":7.504,"body":"of"},{"startTime":7.504,"endTime":7.908,"body":"systematic"},{"startTime":7.908,"endTime":8.312,"body":"investing"},{"startTime":8.312,"endTime":8.716,"body":"and"},{"startTime":8.716,"endTime":9.12,"body":"learn"},{"startTime":9.12,"endTime":9.524,"body":"about"},{"startTime":9.524,"endTime":9.928,"body":"the"},{"startTime":9.928,"endTime":10.332,"body":"most"},{"startTime":10.332,"endTime":10.736,"body":"dependable"},{"startTime":10.736,"endTime":11.14,"body":"and"},{"startTime":11.14,"endTime":11.544,"body":"consistent"},{"startTime":11.544,"endTime":11.948,"body":"yet"},{"startTime":11.948,"endTime":12.352,"body":"often"},{"startTime":12.352,"endTime":12.756,"body":"overlooked"},{"startTime":12.756,"endTime":13.16,"body":"investment"},{"startTime":13.16,"endTime":13.564,"body":"strategy."},{"startTime":13.564,"endTime":13.968,"body":"Welcome"},{"startTime":13.968,"endTime":14.372,"body":"to"},{"startTime":14.372,"endTime":14.776,"body":"the"},{"startTime":14.776,"endTime":15.18,"body":"Systematic"},{"startTime":15.18,"endTime":15.584,"body":"Investor"},{"startTime":15.584,"endTime":15.988,"body":"Series."},{"startTime":23.68,"endTime":24.73,"body":"Welcome"},{"startTime":24.73,"endTime":25.78,"body":"and"},{"startTime":25.78,"endTime":26.83,"body":"welcome"},{"startTime":26.83,"endTime":27.88,"body":"back"},{"startTime":27.88,"endTime":28.93,"body":"to"},{"startTime":28.93,"endTime":29.98,"body":"another"},{"startTime":29.98,"endTime":31.03,"body":"edition"},{"startTime":31.03,"endTime":32.08,"body":"of"},{"startTime":32.08,"endTime":33.13,"body":"the"},{"startTime":33.13,"endTime":34.18,"body":"Systematic"},{"startTime":34.18,"endTime":35.23,"body":"Investor"},{"startTime":35.23,"endTime":36.28,"body":"series"},{"startTime":36.28,"endTime":37.33,"body":"with"},{"startTime":37.33,"endTime":38.38,"body":"Nick"},{"startTime":38.38,"endTime":39.43,"body":"Baltas"},{"startTime":39.43,"endTime":40.48,"body":"and"},{"startTime":40.48,"endTime":41.53,"body":"I,"},{"startTime":41.53,"endTime":42.58,"body":"Niels"},{"startTime":42.58,"endTime":43.63,"body":"Kaastrup-Larsen,"},{"startTime":43.63,"endTime":44.68,"body":"where"},{"startTime":44.68,"endTime":45.73,"body":"each"},{"startTime":45.73,"endTime":46.78,"body":"week"},{"startTime":46.78,"endTime":47.83,"body":"we"},{"startTime":47.83,"endTime":48.88,"body":"take"},{"startTime":48.88,"endTime":49.93,"body":"the"},{"startTime":49.93,"endTime":50.98,"body":"pulse"},{"startTime":50.98,"endTime":52.03,"body":"of"},{"startTime":52.03,"endTime":53.08,"body":"the"},{"startTime":53.08,"endTime":54.13,"body":"global"},{"startTime":54.13,"endTime":55.18,"body":"market"},{"startTime":55.18,"endTime":56.23,"body":"through"},{"startTime":56.23,"endTime":57.28,"body":"the"},{"startTime":57.28,"endTime":58.33,"body":"lens"},{"startTime":58.33,"endTime":59.38,"body":"of"},{"startTime":59.38,"endTime":60.43,"body":"a"},{"startTime":60.43,"endTime":61.48,"body":"rules-based"},{"startTime":61.48,"endTime":62.53,"body":"investor."},{"startTime":23.68,"endTime":24.954,"body":"\rAndlet"},{"startTime":24.954,"endTime":25.591,"body":"me"},{"startTime":25.591,"endTime":26.228,"body":"just"},{"startTime":26.228,"endTime":26.865,"body":"say,"},{"startTime":26.865,"endTime":27.502,"body":"a"},{"startTime":27.502,"endTime":28.139,"body":"very"},{"startTime":28.139,"endTime":28.776,"body":"warm"},{"startTime":28.776,"endTime":29.413,"body":"welcome"},{"startTime":29.413,"endTime":30.05,"body":"if"},{"startTime":30.05,"endTime":30.687,"body":"today's"},{"startTime":30.687,"endTime":31.324,"body":"the"},{"startTime":31.324,"endTime":31.961,"body":"first"},{"startTime":31.961,"endTime":32.598,"body":"time"},{"startTime":32.598,"endTime":33.235,"body":"you're"},{"startTime":33.235,"endTime":33.872,"body":"joining"},{"startTime":33.872,"endTime":34.509,"body":"us,"},{"startTime":34.509,"endTime":35.146,"body":"and"},{"startTime":35.146,"endTime":35.783,"body":"if"},{"startTime":35.783,"endTime":36.42,"body":"someone"},{"startTime":36.42,"endTime":37.057,"body":"who"},{"startTime":37.057,"endTime":37.694,"body":"cares"},{"startTime":37.694,"endTime":38.331,"body":"about"},{"startTime":38.331,"endTime":38.968,"body":"you"},{"startTime":38.968,"endTime":39.605,"body":"and"},{"startTime":39.605,"endTime":40.242,"body":"your"},{"startTime":40.242,"endTime":40.879,"body":"portfolio"},{"startTime":40.879,"endTime":41.516,"body":"recommended"},{"startTime":41.516,"endTime":42.153,"body":"that"},{"startTime":42.153,"endTime":42.79,"body":"you"},{"startTime":42.79,"endTime":43.427,"body":"tune"},{"startTime":43.427,"endTime":44.064,"body":"into"},{"startTime":44.064,"endTime":44.701,"body":"the"},{"startTime":44.701,"endTime":45.338,"body":"podcast,"},{"startTime":45.338,"endTime":45.975,"body":"I"},{"startTime":45.975,"endTime":46.612,"body":"would"},{"startTime":46.612,"endTime":47.249,"body":"like"},{"startTime":47.249,"endTime":47.886,"body":"to"},{"startTime":47.886,"endTime":48.523,"body":"also"},{"startTime":48.523,"endTime":49.16,"body":"say"},{"startTime":49.16,"endTime":49.797,"body":"thank"},{"startTime":49.797,"endTime":50.434,"body":"you"},{"startTime":50.434,"endTime":51.071,"body":"to"},{"startTime":51.071,"endTime":51.708,"body":"the"},{"startTime":51.708,"endTime":52.345,"body":"person"},{"startTime":52.345,"endTime":52.982,"body":"for"},{"startTime":52.982,"endTime":53.619,"body":"sharing"},{"startTime":53.619,"endTime":54.256,"body":"the"},{"startTime":54.256,"endTime":54.893,"body":"episode"},{"startTime":54.893,"endTime":55.53,"body":"with"},{"startTime":55.53,"endTime":56.167,"body":"friends"},{"startTime":56.167,"endTime":56.804,"body":"and"},{"startTime":56.804,"endTime":57.441,"body":"colleagues."},{"startTime":57.441,"endTime":58.078,"body":"It"},{"startTime":58.078,"endTime":58.715,"body":"really"},{"startTime":58.715,"endTime":59.352,"body":"does"},{"startTime":59.352,"endTime":59.989,"body":"mean"},{"startTime":59.989,"endTime":60.626,"body":"a"},{"startTime":60.626,"endTime":61.263,"body":"lot"},{"startTime":61.263,"endTime":61.9,"body":"to"},{"startTime":61.9,"endTime":62.537,"body":"us."},{"startTime":23.68,"endTime":26.27,"body":"\rNick,it's"},{"startTime":26.27,"endTime":27.565,"body":"wonderful"},{"startTime":27.565,"endTime":28.86,"body":"to"},{"startTime":28.86,"endTime":30.155,"body":"be"},{"startTime":30.155,"endTime":31.45,"body":"back"},{"startTime":31.45,"endTime":32.745,"body":"with"},{"startTime":32.745,"endTime":34.04,"body":"you"},{"startTime":34.04,"endTime":35.335,"body":"this"},{"startTime":35.335,"endTime":36.63,"body":"week."},{"startTime":36.63,"endTime":37.925,"body":"It's"},{"startTime":37.925,"endTime":39.22,"body":"been"},{"startTime":39.22,"endTime":40.515,"body":"a"},{"startTime":40.515,"endTime":41.81,"body":"little"},{"startTime":41.81,"endTime":43.105,"body":"while."},{"startTime":43.105,"endTime":44.4,"body":"That's"},{"startTime":44.4,"endTime":45.695,"body":"how"},{"startTime":45.695,"endTime":46.99,"body":"it"},{"startTime":46.99,"endTime":48.285,"body":"feels."},{"startTime":48.285,"endTime":49.58,"body":"But"},{"startTime":49.58,"endTime":50.875,"body":"how"},{"startTime":50.875,"endTime":52.17,"body":"have"},{"startTime":52.17,"endTime":53.465,"body":"you"},{"startTime":53.465,"endTime":54.76,"body":"been?"},{"startTime":54.76,"endTime":56.055,"body":"How's"},{"startTime":56.055,"endTime":57.35,"body":"2026"},{"startTime":57.35,"endTime":58.645,"body":"treating"},{"startTime":58.645,"endTime":59.94,"body":"you"},{"startTime":59.94,"endTime":61.235,"body":"so"},{"startTime":61.235,"endTime":62.53,"body":"far?"},{"startTime":63.27,"endTime":63.639,"body":"Yeah,"},{"startTime":63.639,"endTime":64.008,"body":"it's"},{"startTime":64.008,"endTime":64.377,"body":"been"},{"startTime":64.377,"endTime":64.746,"body":"some"},{"startTime":64.746,"endTime":65.115,"body":"time."},{"startTime":65.115,"endTime":65.484,"body":"Good"},{"startTime":65.484,"endTime":65.853,"body":"to"},{"startTime":65.853,"endTime":66.222,"body":"see"},{"startTime":66.222,"endTime":66.591,"body":"you,"},{"startTime":66.591,"endTime":66.96,"body":"Niels."},{"startTime":66.96,"endTime":67.329,"body":"2026"},{"startTime":67.329,"endTime":67.698,"body":"has"},{"startTime":67.698,"endTime":68.067,"body":"been"},{"startTime":68.067,"endTime":68.436,"body":"quite"},{"startTime":68.436,"endTime":68.805,"body":"a"},{"startTime":68.805,"endTime":69.174,"body":"year"},{"startTime":69.174,"endTime":69.543,"body":"so"},{"startTime":69.543,"endTime":69.912,"body":"far."},{"startTime":69.912,"endTime":70.281,"body":"I"},{"startTime":70.281,"endTime":70.65,"body":"think"},{"startTime":70.65,"endTime":71.019,"body":"we"},{"startTime":71.019,"endTime":71.388,"body":"all"},{"startTime":71.388,"endTime":71.757,"body":"started"},{"startTime":71.757,"endTime":72.126,"body":"with"},{"startTime":72.126,"endTime":72.495,"body":"this"},{"startTime":72.495,"endTime":72.864,"body":"kind"},{"startTime":72.864,"endTime":73.233,"body":"of"},{"startTime":73.233,"endTime":73.602,"body":"booming"},{"startTime":73.602,"endTime":73.971,"body":"expectation"},{"startTime":73.971,"endTime":74.34,"body":"and"},{"startTime":74.34,"endTime":74.709,"body":"here"},{"startTime":74.709,"endTime":75.078,"body":"we"},{"startTime":75.078,"endTime":75.447,"body":"stand"},{"startTime":75.447,"endTime":75.816,"body":"debating"},{"startTime":75.816,"endTime":76.185,"body":"how"},{"startTime":76.185,"endTime":76.554,"body":"much"},{"startTime":76.554,"endTime":76.923,"body":"of"},{"startTime":76.923,"endTime":77.292,"body":"a"},{"startTime":77.292,"endTime":77.661,"body":"contagion"},{"startTime":77.661,"endTime":78.03,"body":"effect"},{"startTime":78.03,"endTime":78.399,"body":"we"},{"startTime":78.399,"endTime":78.768,"body":"have"},{"startTime":78.768,"endTime":79.137,"body":"ahead,"},{"startTime":79.137,"endTime":79.506,"body":"or"},{"startTime":79.506,"endTime":79.875,"body":"maybe"},{"startTime":79.875,"endTime":80.244,"body":"not."},{"startTime":80.244,"endTime":80.613,"body":"But"},{"startTime":80.613,"endTime":80.982,"body":"other"},{"startTime":80.982,"endTime":81.351,"body":"than"},{"startTime":81.351,"endTime":81.72,"body":"that,"},{"startTime":81.72,"endTime":82.089,"body":"it's"},{"startTime":82.089,"endTime":82.458,"body":"been"},{"startTime":82.458,"endTime":82.827,"body":"quite"},{"startTime":82.827,"endTime":83.196,"body":"busy"},{"startTime":83.196,"endTime":83.565,"body":"at"},{"startTime":83.565,"endTime":83.934,"body":"work,"},{"startTime":83.934,"endTime":84.303,"body":"busy"},{"startTime":84.303,"endTime":84.672,"body":"at"},{"startTime":84.672,"endTime":85.041,"body":"home,"},{"startTime":85.041,"endTime":85.41,"body":"some"},{"startTime":85.41,"endTime":85.779,"body":"travels"},{"startTime":85.779,"endTime":86.148,"body":"here"},{"startTime":86.148,"endTime":86.517,"body":"and"},{"startTime":86.517,"endTime":86.886,"body":"there."},{"startTime":86.886,"endTime":87.255,"body":"So,"},{"startTime":87.255,"endTime":87.624,"body":"good"},{"startTime":87.624,"endTime":87.993,"body":"so"},{"startTime":87.993,"endTime":88.362,"body":"far."},{"startTime":88.64,"endTime":88.84,"body":"Yeah,"},{"startTime":88.84,"endTime":88.96,"body":"I"},{"startTime":88.96,"endTime":89.08,"body":"would"},{"startTime":89.08,"endTime":89.28,"body":"say."},{"startTime":89.28,"endTime":89.48,"body":"How"},{"startTime":89.48,"endTime":89.64,"body":"about"},{"startTime":89.64,"endTime":89.92,"body":"you?"},{"startTime":90.32,"endTime":92.699,"body":"Yeah,"},{"startTime":92.699,"endTime":95.078,"body":"absolutely,"},{"startTime":95.078,"endTime":97.457,"body":"I"},{"startTime":97.457,"endTime":99.836,"body":"can't"},{"startTime":99.836,"endTime":102.215,"body":"complain."},{"startTime":102.215,"endTime":104.594,"body":"It's"},{"startTime":104.594,"endTime":106.973,"body":"been"},{"startTime":106.973,"endTime":109.352,"body":"busy."},{"startTime":109.352,"endTime":111.731,"body":"I"},{"startTime":111.731,"endTime":114.11,"body":"feel"},{"startTime":114.11,"endTime":116.489,"body":"that"},{"startTime":116.489,"endTime":118.868,"body":"the"},{"startTime":118.868,"endTime":121.247,"body":"conversations"},{"startTime":121.247,"endTime":123.626,"body":"are"},{"startTime":123.626,"endTime":126.005,"body":"highly"},{"startTime":126.005,"endTime":128.384,"body":"interesting."},{"startTime":128.384,"endTime":130.763,"body":"I"},{"startTime":130.763,"endTime":133.142,"body":"feel"},{"startTime":133.142,"endTime":135.521,"body":"investors"},{"startTime":135.521,"endTime":137.9,"body":"are,"},{"startTime":137.9,"endTime":140.279,"body":"yeah"},{"startTime":140.279,"endTime":142.658,"body":"leaning"},{"startTime":142.658,"endTime":145.037,"body":"a"},{"startTime":145.037,"endTime":147.416,"body":"little"},{"startTime":147.416,"endTime":149.795,"body":"bit"},{"startTime":149.795,"endTime":152.174,"body":"more"},{"startTime":152.174,"endTime":154.553,"body":"into"},{"startTime":154.553,"endTime":156.932,"body":"our"},{"startTime":156.932,"endTime":159.311,"body":"space."},{"startTime":159.311,"endTime":161.69,"body":"So,"},{"startTime":161.69,"endTime":164.069,"body":"so"},{"startTime":164.069,"endTime":166.448,"body":"far,"},{"startTime":166.448,"endTime":168.827,"body":"as"},{"startTime":168.827,"endTime":171.206,"body":"you"},{"startTime":171.206,"endTime":173.585,"body":"say,"},{"startTime":173.585,"endTime":175.964,"body":"so"},{"startTime":175.964,"endTime":178.343,"body":"far,"},{"startTime":178.343,"endTime":180.722,"body":"so"},{"startTime":180.722,"endTime":183.101,"body":"good."},{"startTime":90.32,"endTime":92.76,"body":"\rButyou"},{"startTime":92.76,"endTime":93.98,"body":"know"},{"startTime":93.98,"endTime":95.2,"body":"what,"},{"startTime":95.2,"endTime":96.42,"body":"by"},{"startTime":96.42,"endTime":97.64,"body":"the"},{"startTime":97.64,"endTime":98.86,"body":"way,"},{"startTime":98.86,"endTime":100.08,"body":"before"},{"startTime":100.08,"endTime":101.3,"body":"we"},{"startTime":101.3,"endTime":102.52,"body":"even"},{"startTime":102.52,"endTime":103.74,"body":"dive"},{"startTime":103.74,"endTime":104.96,"body":"into"},{"startTime":104.96,"endTime":106.18,"body":"some"},{"startTime":106.18,"endTime":107.4,"body":"of"},{"startTime":107.4,"endTime":108.62,"body":"the"},{"startTime":108.62,"endTime":109.84,"body":"things"},{"startTime":109.84,"endTime":111.06,"body":"we're"},{"startTime":111.06,"endTime":112.28,"body":"going"},{"startTime":112.28,"endTime":113.5,"body":"to"},{"startTime":113.5,"endTime":114.72,"body":"talk"},{"startTime":114.72,"endTime":115.94,"body":"about,"},{"startTime":115.94,"endTime":117.16,"body":"I"},{"startTime":117.16,"endTime":118.38,"body":"couldn't"},{"startTime":118.38,"endTime":119.6,"body":"help"},{"startTime":119.6,"endTime":120.82,"body":"noticing"},{"startTime":120.82,"endTime":122.04,"body":"(maybe"},{"startTime":122.04,"endTime":123.26,"body":"I"},{"startTime":123.26,"endTime":124.48,"body":"should"},{"startTime":124.48,"endTime":125.7,"body":"have"},{"startTime":125.7,"endTime":126.92,"body":"put"},{"startTime":126.92,"endTime":128.14,"body":"it"},{"startTime":128.14,"endTime":129.36,"body":"on"},{"startTime":129.36,"endTime":130.58,"body":"my"},{"startTime":130.58,"endTime":131.8,"body":"radar"},{"startTime":131.8,"endTime":133.02,"body":"in"},{"startTime":133.02,"endTime":134.24,"body":"the"},{"startTime":134.24,"endTime":135.46,"body":"next"},{"startTime":135.46,"endTime":136.68,"body":"section),"},{"startTime":136.68,"endTime":137.9,"body":"I"},{"startTime":137.9,"endTime":139.12,"body":"couldn't"},{"startTime":139.12,"endTime":140.34,"body":"help"},{"startTime":140.34,"endTime":141.56,"body":"noticing"},{"startTime":141.56,"endTime":142.78,"body":"that"},{"startTime":142.78,"endTime":144,"body":"there"},{"startTime":144,"endTime":145.22,"body":"was"},{"startTime":145.22,"endTime":146.44,"body":"an"},{"startTime":146.44,"endTime":147.66,"body":"article"},{"startTime":147.66,"endTime":148.88,"body":"out"},{"startTime":148.88,"endTime":150.1,"body":"only"},{"startTime":150.1,"endTime":151.32,"body":"a"},{"startTime":151.32,"endTime":152.54,"body":"couple"},{"startTime":152.54,"endTime":153.76,"body":"of"},{"startTime":153.76,"endTime":154.98,"body":"days"},{"startTime":154.98,"endTime":156.2,"body":"ago."},{"startTime":156.2,"endTime":157.42,"body":"I"},{"startTime":157.42,"endTime":158.64,"body":"think"},{"startTime":158.64,"endTime":159.86,"body":"it"},{"startTime":159.86,"endTime":161.08,"body":"was"},{"startTime":161.08,"endTime":162.3,"body":"a"},{"startTime":162.3,"endTime":163.52,"body":"Bloomberg"},{"startTime":163.52,"endTime":164.74,"body":"article"},{"startTime":164.74,"endTime":165.96,"body":"where"},{"startTime":165.96,"endTime":167.18,"body":"they"},{"startTime":167.18,"endTime":168.4,"body":"were"},{"startTime":168.4,"endTime":169.62,"body":"already"},{"startTime":169.62,"endTime":170.84,"body":"saying,"},{"startTime":170.84,"endTime":172.06,"body":"you"},{"startTime":172.06,"endTime":173.28,"body":"know,"},{"startTime":173.28,"endTime":174.5,"body":"CTAs"},{"startTime":174.5,"endTime":175.72,"body":"have"},{"startTime":175.72,"endTime":176.94,"body":"their"},{"startTime":176.94,"endTime":178.16,"body":"worst"},{"startTime":178.16,"endTime":179.38,"body":"drawdown"},{"startTime":179.38,"endTime":180.6,"body":"since"},{"startTime":180.6,"endTime":181.82,"body":"Liberation"},{"startTime":181.82,"endTime":183.04,"body":"Day."},{"startTime":90.32,"endTime":92.294,"body":"\rAndthey"},{"startTime":92.294,"endTime":93.281,"body":"were"},{"startTime":93.281,"endTime":94.268,"body":"quoting"},{"startTime":94.268,"endTime":95.255,"body":"like"},{"startTime":95.255,"endTime":96.242,"body":"the"},{"startTime":96.242,"endTime":97.229,"body":"trend"},{"startTime":97.229,"endTime":98.216,"body":"index"},{"startTime":98.216,"endTime":99.203,"body":"being"},{"startTime":99.203,"endTime":100.19,"body":"down"},{"startTime":100.19,"endTime":101.177,"body":"4%."},{"startTime":101.177,"endTime":102.164,"body":"And"},{"startTime":102.164,"endTime":103.151,"body":"at"},{"startTime":103.151,"endTime":104.138,"body":"the"},{"startTime":104.138,"endTime":105.125,"body":"time,"},{"startTime":105.125,"endTime":106.112,"body":"when"},{"startTime":106.112,"endTime":107.099,"body":"I"},{"startTime":107.099,"endTime":108.086,"body":"looked"},{"startTime":108.086,"endTime":109.073,"body":"it"},{"startTime":109.073,"endTime":110.06,"body":"said,"},{"startTime":110.06,"endTime":111.047,"body":"first"},{"startTime":111.047,"endTime":112.034,"body":"of"},{"startTime":112.034,"endTime":113.021,"body":"all,"},{"startTime":113.021,"endTime":114.008,"body":"the"},{"startTime":114.008,"endTime":114.995,"body":"number"},{"startTime":114.995,"endTime":115.982,"body":"was"},{"startTime":115.982,"endTime":116.969,"body":"wrong."},{"startTime":116.969,"endTime":117.956,"body":"The"},{"startTime":117.956,"endTime":118.943,"body":"index"},{"startTime":118.943,"endTime":119.93,"body":"was"},{"startTime":119.93,"endTime":120.917,"body":"down"},{"startTime":120.917,"endTime":121.904,"body":"like"},{"startTime":121.904,"endTime":122.891,"body":"2%"},{"startTime":122.891,"endTime":123.878,"body":"for"},{"startTime":123.878,"endTime":124.865,"body":"March"},{"startTime":124.865,"endTime":125.852,"body":"at"},{"startTime":125.852,"endTime":126.839,"body":"the"},{"startTime":126.839,"endTime":127.826,"body":"time."},{"startTime":127.826,"endTime":128.813,"body":"And"},{"startTime":128.813,"endTime":129.8,"body":"I"},{"startTime":129.8,"endTime":130.787,"body":"was"},{"startTime":130.787,"endTime":131.774,"body":"just"},{"startTime":131.774,"endTime":132.761,"body":"wondering,"},{"startTime":132.761,"endTime":133.748,"body":"oh"},{"startTime":133.748,"endTime":134.735,"body":"wow,"},{"startTime":134.735,"endTime":135.722,"body":"is"},{"startTime":135.722,"endTime":136.709,"body":"that,"},{"startTime":136.709,"endTime":137.696,"body":"you"},{"startTime":137.696,"endTime":138.683,"body":"know,"},{"startTime":138.683,"endTime":139.67,"body":"is"},{"startTime":139.67,"endTime":140.657,"body":"that"},{"startTime":140.657,"endTime":141.644,"body":"all"},{"startTime":141.644,"endTime":142.631,"body":"it"},{"startTime":142.631,"endTime":143.618,"body":"takes?"},{"startTime":143.618,"endTime":144.605,"body":"You"},{"startTime":144.605,"endTime":145.592,"body":"know,"},{"startTime":145.592,"endTime":146.579,"body":"a"},{"startTime":146.579,"endTime":147.566,"body":"couple"},{"startTime":147.566,"endTime":148.553,"body":"of"},{"startTime":148.553,"endTime":149.54,"body":"weeks"},{"startTime":149.54,"endTime":150.527,"body":"of"},{"startTime":150.527,"endTime":151.514,"body":"correction"},{"startTime":151.514,"endTime":152.501,"body":"after"},{"startTime":152.501,"endTime":153.488,"body":"eight"},{"startTime":153.488,"endTime":154.475,"body":"months"},{"startTime":154.475,"endTime":155.462,"body":"of"},{"startTime":155.462,"endTime":156.449,"body":"positive"},{"startTime":156.449,"endTime":157.436,"body":"returns,"},{"startTime":157.436,"endTime":158.423,"body":"that's"},{"startTime":158.423,"endTime":159.41,"body":"all"},{"startTime":159.41,"endTime":160.397,"body":"it"},{"startTime":160.397,"endTime":161.384,"body":"takes"},{"startTime":161.384,"endTime":162.371,"body":"for"},{"startTime":162.371,"endTime":163.358,"body":"these"},{"startTime":163.358,"endTime":164.345,"body":"headlines"},{"startTime":164.345,"endTime":165.332,"body":"to"},{"startTime":165.332,"endTime":166.319,"body":"come"},{"startTime":166.319,"endTime":167.306,"body":"out?"},{"startTime":167.306,"endTime":168.293,"body":"Maybe"},{"startTime":168.293,"endTime":169.28,"body":"I’m"},{"startTime":169.28,"endTime":170.267,"body":"not"},{"startTime":170.267,"endTime":171.254,"body":"surprised,"},{"startTime":171.254,"endTime":172.241,"body":"but"},{"startTime":172.241,"endTime":173.228,"body":"maybe"},{"startTime":173.228,"endTime":174.215,"body":"I"},{"startTime":174.215,"endTime":175.202,"body":"am"},{"startTime":175.202,"endTime":176.189,"body":"actually,"},{"startTime":176.189,"endTime":177.176,"body":"that"},{"startTime":177.176,"endTime":178.163,"body":"that's"},{"startTime":178.163,"endTime":179.15,"body":"really"},{"startTime":179.15,"endTime":180.137,"body":"what"},{"startTime":180.137,"endTime":181.124,"body":"they"},{"startTime":181.124,"endTime":182.111,"body":"find"},{"startTime":182.111,"endTime":183.098,"body":"interesting."},{"startTime":90.32,"endTime":94.634,"body":"\rButyou"},{"startTime":94.634,"endTime":96.791,"body":"and"},{"startTime":96.791,"endTime":98.948,"body":"I"},{"startTime":98.948,"endTime":101.105,"body":"are"},{"startTime":101.105,"endTime":103.262,"body":"going"},{"startTime":103.262,"endTime":105.419,"body":"to"},{"startTime":105.419,"endTime":107.576,"body":"talk"},{"startTime":107.576,"endTime":109.733,"body":"about"},{"startTime":109.733,"endTime":111.89,"body":"things"},{"startTime":111.89,"endTime":114.047,"body":"that"},{"startTime":114.047,"endTime":116.204,"body":"we"},{"startTime":116.204,"endTime":118.361,"body":"do"},{"startTime":118.361,"endTime":120.518,"body":"find"},{"startTime":120.518,"endTime":122.675,"body":"interesting,"},{"startTime":122.675,"endTime":124.832,"body":"at"},{"startTime":124.832,"endTime":126.989,"body":"the"},{"startTime":126.989,"endTime":129.146,"body":"moment,"},{"startTime":129.146,"endTime":131.303,"body":"and"},{"startTime":131.303,"endTime":133.46,"body":"let's"},{"startTime":133.46,"endTime":135.617,"body":"jump"},{"startTime":135.617,"endTime":137.774,"body":"into"},{"startTime":137.774,"endTime":139.931,"body":"kind"},{"startTime":139.931,"endTime":142.088,"body":"of"},{"startTime":142.088,"endTime":144.245,"body":"what's"},{"startTime":144.245,"endTime":146.402,"body":"been"},{"startTime":146.402,"endTime":148.559,"body":"on"},{"startTime":148.559,"endTime":150.716,"body":"our"},{"startTime":150.716,"endTime":152.873,"body":"radar"},{"startTime":152.873,"endTime":155.03,"body":"recently."},{"startTime":155.03,"endTime":157.187,"body":"I"},{"startTime":157.187,"endTime":159.344,"body":"know"},{"startTime":159.344,"endTime":161.501,"body":"you"},{"startTime":161.501,"endTime":163.658,"body":"have"},{"startTime":163.658,"endTime":165.815,"body":"an"},{"startTime":165.815,"endTime":167.972,"body":"interesting"},{"startTime":167.972,"endTime":170.129,"body":"observation"},{"startTime":170.129,"endTime":172.286,"body":"about"},{"startTime":172.286,"endTime":174.443,"body":"the"},{"startTime":174.443,"endTime":176.6,"body":"QIS"},{"startTime":176.6,"endTime":178.757,"body":"space,"},{"startTime":178.757,"endTime":180.914,"body":"I"},{"startTime":180.914,"endTime":183.071,"body":"think."},{"startTime":184.55,"endTime":186.311,"body":"Yes,"},{"startTime":186.311,"endTime":188.072,"body":"what's"},{"startTime":188.072,"endTime":189.833,"body":"been"},{"startTime":189.833,"endTime":191.594,"body":"on"},{"startTime":191.594,"endTime":193.355,"body":"my"},{"startTime":193.355,"endTime":195.116,"body":"radar."},{"startTime":195.116,"endTime":196.877,"body":"So,"},{"startTime":196.877,"endTime":198.638,"body":"I"},{"startTime":198.638,"endTime":200.399,"body":"would"},{"startTime":200.399,"endTime":202.16,"body":"say"},{"startTime":202.16,"endTime":203.921,"body":"I"},{"startTime":203.921,"endTime":205.682,"body":"can"},{"startTime":205.682,"endTime":207.443,"body":"start"},{"startTime":207.443,"endTime":209.204,"body":"professionally,"},{"startTime":209.204,"endTime":210.965,"body":"right,"},{"startTime":210.965,"endTime":212.726,"body":"and"},{"startTime":212.726,"endTime":214.487,"body":"speak"},{"startTime":214.487,"endTime":216.248,"body":"about"},{"startTime":216.248,"endTime":218.009,"body":"the"},{"startTime":218.009,"endTime":219.77,"body":"days"},{"startTime":219.77,"endTime":221.531,"body":"in"},{"startTime":221.531,"endTime":223.292,"body":"the"},{"startTime":223.292,"endTime":225.053,"body":"office"},{"startTime":225.053,"endTime":226.814,"body":"and"},{"startTime":226.814,"endTime":228.575,"body":"obviously"},{"startTime":228.575,"endTime":230.336,"body":"discussing"},{"startTime":230.336,"endTime":232.097,"body":"QIS"},{"startTime":232.097,"endTime":233.858,"body":"and"},{"startTime":233.858,"endTime":235.619,"body":"systematic"},{"startTime":235.619,"endTime":237.38,"body":"strategies"},{"startTime":237.38,"endTime":239.141,"body":"and,"},{"startTime":239.141,"endTime":240.902,"body":"obviously,"},{"startTime":240.902,"endTime":242.663,"body":"I"},{"startTime":242.663,"endTime":244.424,"body":"can"},{"startTime":244.424,"endTime":246.185,"body":"easily"},{"startTime":246.185,"endTime":247.946,"body":"give"},{"startTime":247.946,"endTime":249.707,"body":"like"},{"startTime":249.707,"endTime":251.468,"body":"a"},{"startTime":251.468,"endTime":253.229,"body":"personal"},{"startTime":253.229,"endTime":254.99,"body":"perspective"},{"startTime":254.99,"endTime":256.751,"body":"as"},{"startTime":256.751,"endTime":258.512,"body":"well."},{"startTime":258.512,"endTime":260.273,"body":"But"},{"startTime":260.273,"endTime":262.034,"body":"I"},{"startTime":262.034,"endTime":263.795,"body":"would"},{"startTime":263.795,"endTime":265.556,"body":"say,"},{"startTime":265.556,"endTime":267.317,"body":"obviously"},{"startTime":267.317,"endTime":269.078,"body":"something"},{"startTime":269.078,"endTime":270.839,"body":"that"},{"startTime":270.839,"endTime":272.6,"body":"is"},{"startTime":272.6,"endTime":274.361,"body":"top"},{"startTime":274.361,"endTime":276.122,"body":"of"},{"startTime":276.122,"endTime":277.883,"body":"mind"},{"startTime":277.883,"endTime":279.644,"body":"is"},{"startTime":279.644,"endTime":281.405,"body":"what"},{"startTime":281.405,"endTime":283.166,"body":"is"},{"startTime":283.166,"endTime":284.927,"body":"happening"},{"startTime":284.927,"endTime":286.688,"body":"in"},{"startTime":286.688,"endTime":288.449,"body":"the"},{"startTime":288.449,"endTime":290.21,"body":"Middle"},{"startTime":290.21,"endTime":291.971,"body":"East"},{"startTime":291.971,"endTime":293.732,"body":"and"},{"startTime":293.732,"endTime":295.493,"body":"how"},{"startTime":295.493,"endTime":297.254,"body":"that"},{"startTime":297.254,"endTime":299.015,"body":"is"},{"startTime":299.015,"endTime":300.776,"body":"impacting"},{"startTime":300.776,"endTime":302.537,"body":"performance,"},{"startTime":302.537,"endTime":304.298,"body":"and"},{"startTime":304.298,"endTime":306.059,"body":"how"},{"startTime":306.059,"endTime":307.82,"body":"that"},{"startTime":307.82,"endTime":309.581,"body":"is"},{"startTime":309.581,"endTime":311.342,"body":"impacting"},{"startTime":311.342,"endTime":313.103,"body":"specific"},{"startTime":313.103,"endTime":314.864,"body":"discussions"},{"startTime":314.864,"endTime":316.625,"body":"we"},{"startTime":316.625,"endTime":318.386,"body":"have"},{"startTime":318.386,"endTime":320.147,"body":"with"},{"startTime":320.147,"endTime":321.908,"body":"clients,"},{"startTime":321.908,"endTime":323.669,"body":"and"},{"startTime":323.669,"endTime":325.43,"body":"how"},{"startTime":325.43,"endTime":327.191,"body":"we"},{"startTime":327.191,"endTime":328.952,"body":"respond"},{"startTime":328.952,"endTime":330.713,"body":"to"},{"startTime":330.713,"endTime":332.474,"body":"the"},{"startTime":332.474,"endTime":334.235,"body":"current"},{"startTime":334.235,"endTime":335.996,"body":"environment"},{"startTime":335.996,"endTime":337.757,"body":"in"},{"startTime":337.757,"endTime":339.518,"body":"terms"},{"startTime":339.518,"endTime":341.279,"body":"of"},{"startTime":341.279,"endTime":343.04,"body":"commentary,"},{"startTime":343.04,"endTime":344.801,"body":"in"},{"startTime":344.801,"endTime":346.562,"body":"terms"},{"startTime":346.562,"endTime":348.323,"body":"of"},{"startTime":348.323,"endTime":350.084,"body":"performance"},{"startTime":350.084,"endTime":351.845,"body":"analysis,"},{"startTime":351.845,"endTime":353.606,"body":"so"},{"startTime":353.606,"endTime":355.367,"body":"on,"},{"startTime":355.367,"endTime":357.128,"body":"and"},{"startTime":357.128,"endTime":358.889,"body":"so"},{"startTime":358.889,"endTime":360.65,"body":"forth."},{"startTime":360.65,"endTime":362.411,"body":"And,"},{"startTime":362.411,"endTime":364.172,"body":"you"},{"startTime":364.172,"endTime":365.933,"body":"know,"},{"startTime":365.933,"endTime":367.694,"body":"one"},{"startTime":367.694,"endTime":369.455,"body":"of"},{"startTime":369.455,"endTime":371.216,"body":"the"},{"startTime":371.216,"endTime":372.977,"body":"most"},{"startTime":372.977,"endTime":374.738,"body":"popular"},{"startTime":374.738,"endTime":376.499,"body":"trades"},{"startTime":376.499,"endTime":378.26,"body":"across"},{"startTime":378.26,"endTime":380.021,"body":"the"},{"startTime":380.021,"endTime":381.782,"body":"QIS"},{"startTime":381.782,"endTime":383.543,"body":"space,"},{"startTime":383.543,"endTime":385.304,"body":"and"},{"startTime":385.304,"endTime":387.065,"body":"maybe"},{"startTime":387.065,"endTime":388.826,"body":"it's"},{"startTime":388.826,"endTime":390.587,"body":"probably"},{"startTime":390.587,"endTime":392.348,"body":"the"},{"startTime":392.348,"endTime":394.109,"body":"most"},{"startTime":394.109,"endTime":395.87,"body":"long"},{"startTime":395.87,"endTime":397.631,"body":"standing"},{"startTime":397.631,"endTime":399.392,"body":"QIS"},{"startTime":399.392,"endTime":401.153,"body":"strategy"},{"startTime":401.153,"endTime":402.914,"body":"across"},{"startTime":402.914,"endTime":404.675,"body":"the"},{"startTime":404.675,"endTime":406.436,"body":"industry,"},{"startTime":406.436,"endTime":408.197,"body":"is"},{"startTime":408.197,"endTime":409.958,"body":"the"},{"startTime":409.958,"endTime":411.719,"body":"classic"},{"startTime":411.719,"endTime":413.48,"body":"short"},{"startTime":413.48,"endTime":415.241,"body":"commodity"},{"startTime":415.241,"endTime":417.002,"body":"spread;"},{"startTime":417.002,"endTime":418.763,"body":"the"},{"startTime":418.763,"endTime":420.524,"body":"curve"},{"startTime":420.524,"endTime":422.285,"body":"carry."},{"startTime":184.55,"endTime":192.098,"body":"\rSoa"},{"startTime":192.098,"endTime":195.872,"body":"few"},{"startTime":195.872,"endTime":199.646,"body":"days"},{"startTime":199.646,"endTime":203.42,"body":"ago,"},{"startTime":203.42,"endTime":207.194,"body":"I"},{"startTime":207.194,"endTime":210.968,"body":"think"},{"startTime":210.968,"endTime":214.742,"body":"it"},{"startTime":214.742,"endTime":218.516,"body":"was"},{"startTime":218.516,"endTime":222.29,"body":"last"},{"startTime":222.29,"endTime":226.064,"body":"week,"},{"startTime":226.064,"endTime":229.838,"body":"Bloomberg"},{"startTime":229.838,"endTime":233.612,"body":"came"},{"startTime":233.612,"endTime":237.386,"body":"out"},{"startTime":237.386,"endTime":241.16,"body":"with"},{"startTime":241.16,"endTime":244.934,"body":"an"},{"startTime":244.934,"endTime":248.708,"body":"article"},{"startTime":248.708,"endTime":252.482,"body":"specifically"},{"startTime":252.482,"endTime":256.256,"body":"quoting"},{"startTime":256.256,"endTime":260.03,"body":"the"},{"startTime":260.03,"endTime":263.804,"body":"back"},{"startTime":263.804,"endTime":267.578,"body":"correlation"},{"startTime":267.578,"endTime":271.352,"body":"dynamics"},{"startTime":271.352,"endTime":275.126,"body":"in"},{"startTime":275.126,"endTime":278.9,"body":"the"},{"startTime":278.9,"endTime":282.674,"body":"oil"},{"startTime":282.674,"endTime":286.448,"body":"market,"},{"startTime":286.448,"endTime":290.222,"body":"obviously,"},{"startTime":290.222,"endTime":293.996,"body":"as"},{"startTime":293.996,"endTime":297.77,"body":"a"},{"startTime":297.77,"endTime":301.544,"body":"consequence"},{"startTime":301.544,"endTime":305.318,"body":"of"},{"startTime":305.318,"endTime":309.092,"body":"the"},{"startTime":309.092,"endTime":312.866,"body":"supply"},{"startTime":312.866,"endTime":316.64,"body":"concerns"},{"startTime":316.64,"endTime":320.414,"body":"with"},{"startTime":320.414,"endTime":324.188,"body":"the"},{"startTime":324.188,"endTime":327.962,"body":"current"},{"startTime":327.962,"endTime":331.736,"body":"geopolitical"},{"startTime":331.736,"endTime":335.51,"body":"tensions,"},{"startTime":335.51,"endTime":339.284,"body":"and"},{"startTime":339.284,"endTime":343.058,"body":"how"},{"startTime":343.058,"endTime":346.832,"body":"that"},{"startTime":346.832,"endTime":350.606,"body":"has"},{"startTime":350.606,"endTime":354.38,"body":"impacted"},{"startTime":354.38,"endTime":358.154,"body":"quite"},{"startTime":358.154,"endTime":361.928,"body":"aggressively"},{"startTime":361.928,"endTime":365.702,"body":"and"},{"startTime":365.702,"endTime":369.476,"body":"maybe"},{"startTime":369.476,"endTime":373.25,"body":"kind"},{"startTime":373.25,"endTime":377.024,"body":"of"},{"startTime":377.024,"endTime":380.798,"body":"wrote"},{"startTime":380.798,"endTime":384.572,"body":"off"},{"startTime":384.572,"endTime":388.346,"body":"a"},{"startTime":388.346,"endTime":392.12,"body":"few"},{"startTime":392.12,"endTime":395.894,"body":"years"},{"startTime":395.894,"endTime":399.668,"body":"of"},{"startTime":399.668,"endTime":403.442,"body":"performance"},{"startTime":403.442,"endTime":407.216,"body":"in"},{"startTime":407.216,"endTime":410.99,"body":"a"},{"startTime":410.99,"endTime":414.764,"body":"commodity"},{"startTime":414.764,"endTime":418.538,"body":"curve"},{"startTime":418.538,"endTime":422.312,"body":"trade."},{"startTime":184.55,"endTime":192.748,"body":"\rObviously,implementation"},{"startTime":192.748,"endTime":196.847,"body":"matters"},{"startTime":196.847,"endTime":200.946,"body":"and"},{"startTime":200.946,"endTime":205.045,"body":"we"},{"startTime":205.045,"endTime":209.144,"body":"can"},{"startTime":209.144,"endTime":213.243,"body":"have"},{"startTime":213.243,"endTime":217.342,"body":"this"},{"startTime":217.342,"endTime":221.441,"body":"conversation"},{"startTime":221.441,"endTime":225.54,"body":"at"},{"startTime":225.54,"endTime":229.639,"body":"any"},{"startTime":229.639,"endTime":233.738,"body":"level"},{"startTime":233.738,"endTime":237.837,"body":"of"},{"startTime":237.837,"endTime":241.936,"body":"depth."},{"startTime":241.936,"endTime":246.035,"body":"But"},{"startTime":246.035,"endTime":250.134,"body":"this"},{"startTime":250.134,"endTime":254.233,"body":"came"},{"startTime":254.233,"endTime":258.332,"body":"pretty"},{"startTime":258.332,"endTime":262.431,"body":"much"},{"startTime":262.431,"endTime":266.53,"body":"weeks"},{"startTime":266.53,"endTime":270.629,"body":"after"},{"startTime":270.629,"endTime":274.728,"body":"another"},{"startTime":274.728,"endTime":278.827,"body":"drawdown"},{"startTime":278.827,"endTime":282.926,"body":"in"},{"startTime":282.926,"endTime":287.025,"body":"that"},{"startTime":287.025,"endTime":291.124,"body":"particular"},{"startTime":291.124,"endTime":295.223,"body":"strategy"},{"startTime":295.223,"endTime":299.322,"body":"was"},{"startTime":299.322,"endTime":303.421,"body":"caused"},{"startTime":303.421,"endTime":307.52,"body":"by"},{"startTime":307.52,"endTime":311.619,"body":"a"},{"startTime":311.619,"endTime":315.718,"body":"completely"},{"startTime":315.718,"endTime":319.817,"body":"different"},{"startTime":319.817,"endTime":323.916,"body":"event,"},{"startTime":323.916,"endTime":328.015,"body":"and"},{"startTime":328.015,"endTime":332.114,"body":"that"},{"startTime":332.114,"endTime":336.213,"body":"was"},{"startTime":336.213,"endTime":340.312,"body":"obviously"},{"startTime":340.312,"endTime":344.411,"body":"the"},{"startTime":344.411,"endTime":348.51,"body":"cold"},{"startTime":348.51,"endTime":352.609,"body":"weather"},{"startTime":352.609,"endTime":356.708,"body":"in"},{"startTime":356.708,"endTime":360.807,"body":"the"},{"startTime":360.807,"endTime":364.906,"body":"States"},{"startTime":364.906,"endTime":369.005,"body":"and"},{"startTime":369.005,"endTime":373.104,"body":"in"},{"startTime":373.104,"endTime":377.203,"body":"North"},{"startTime":377.203,"endTime":381.302,"body":"Europe"},{"startTime":381.302,"endTime":385.401,"body":"that"},{"startTime":385.401,"endTime":389.5,"body":"led"},{"startTime":389.5,"endTime":393.599,"body":"gas"},{"startTime":393.599,"endTime":397.698,"body":"prices"},{"startTime":397.698,"endTime":401.797,"body":"to"},{"startTime":401.797,"endTime":405.896,"body":"kind"},{"startTime":405.896,"endTime":409.995,"body":"of"},{"startTime":409.995,"endTime":414.094,"body":"skyrocket,"},{"startTime":414.094,"endTime":418.193,"body":"temporarily"},{"startTime":418.193,"endTime":422.292,"body":"still."},{"startTime":184.55,"endTime":190.278,"body":"\rButyou"},{"startTime":190.278,"endTime":193.142,"body":"know,"},{"startTime":193.142,"endTime":196.006,"body":"if"},{"startTime":196.006,"endTime":198.87,"body":"you"},{"startTime":198.87,"endTime":201.734,"body":"look"},{"startTime":201.734,"endTime":204.598,"body":"into"},{"startTime":204.598,"endTime":207.462,"body":"kind"},{"startTime":207.462,"endTime":210.326,"body":"of"},{"startTime":210.326,"endTime":213.19,"body":"a"},{"startTime":213.19,"endTime":216.054,"body":"back"},{"startTime":216.054,"endTime":218.918,"body":"to"},{"startTime":218.918,"endTime":221.782,"body":"back"},{"startTime":221.782,"endTime":224.646,"body":"events"},{"startTime":224.646,"endTime":227.51,"body":"of"},{"startTime":227.51,"endTime":230.374,"body":"substantial"},{"startTime":230.374,"endTime":233.238,"body":"backwardation"},{"startTime":233.238,"endTime":236.102,"body":"in"},{"startTime":236.102,"endTime":238.966,"body":"the"},{"startTime":238.966,"endTime":241.83,"body":"gas"},{"startTime":241.83,"endTime":244.694,"body":"market"},{"startTime":244.694,"endTime":247.558,"body":"and"},{"startTime":247.558,"endTime":250.422,"body":"eventually"},{"startTime":250.422,"endTime":253.286,"body":"in"},{"startTime":253.286,"endTime":256.15,"body":"the"},{"startTime":256.15,"endTime":259.014,"body":"oil"},{"startTime":259.014,"endTime":261.878,"body":"complex,"},{"startTime":261.878,"endTime":264.742,"body":"you"},{"startTime":264.742,"endTime":267.606,"body":"know,"},{"startTime":267.606,"endTime":270.47,"body":"for"},{"startTime":270.47,"endTime":273.334,"body":"a"},{"startTime":273.334,"endTime":276.198,"body":"strategy"},{"startTime":276.198,"endTime":279.062,"body":"that,"},{"startTime":279.062,"endTime":281.926,"body":"effectively"},{"startTime":281.926,"endTime":284.79,"body":"going"},{"startTime":284.79,"endTime":287.654,"body":"along"},{"startTime":287.654,"endTime":290.518,"body":"the"},{"startTime":290.518,"endTime":293.382,"body":"back"},{"startTime":293.382,"endTime":296.246,"body":"end"},{"startTime":296.246,"endTime":299.11,"body":"of"},{"startTime":299.11,"endTime":301.974,"body":"the"},{"startTime":301.974,"endTime":304.838,"body":"curve"},{"startTime":304.838,"endTime":307.702,"body":"and"},{"startTime":307.702,"endTime":310.566,"body":"short"},{"startTime":310.566,"endTime":313.43,"body":"the"},{"startTime":313.43,"endTime":316.294,"body":"front"},{"startTime":316.294,"endTime":319.158,"body":"end"},{"startTime":319.158,"endTime":322.022,"body":"of"},{"startTime":322.022,"endTime":324.886,"body":"the"},{"startTime":324.886,"endTime":327.75,"body":"curve,"},{"startTime":327.75,"endTime":330.614,"body":"historically"},{"startTime":330.614,"endTime":333.478,"body":"has"},{"startTime":333.478,"endTime":336.342,"body":"been"},{"startTime":336.342,"endTime":339.206,"body":"well"},{"startTime":339.206,"endTime":342.07,"body":"rewarded"},{"startTime":342.07,"endTime":344.934,"body":"because"},{"startTime":344.934,"endTime":347.798,"body":"that"},{"startTime":347.798,"endTime":350.662,"body":"is"},{"startTime":350.662,"endTime":353.526,"body":"the"},{"startTime":353.526,"endTime":356.39,"body":"risk"},{"startTime":356.39,"endTime":359.254,"body":"premium"},{"startTime":359.254,"endTime":362.118,"body":"that"},{"startTime":362.118,"endTime":364.982,"body":"is"},{"startTime":364.982,"endTime":367.846,"body":"shared"},{"startTime":367.846,"endTime":370.71,"body":"between"},{"startTime":370.71,"endTime":373.574,"body":"consumers"},{"startTime":373.574,"endTime":376.438,"body":"and"},{"startTime":376.438,"endTime":379.302,"body":"producers."},{"startTime":379.302,"endTime":382.166,"body":"It"},{"startTime":382.166,"endTime":385.03,"body":"leads"},{"startTime":385.03,"endTime":387.894,"body":"to"},{"startTime":387.894,"endTime":390.758,"body":"some"},{"startTime":390.758,"endTime":393.622,"body":"challenging"},{"startTime":393.622,"endTime":396.486,"body":"performance"},{"startTime":396.486,"endTime":399.35,"body":"that"},{"startTime":399.35,"endTime":402.214,"body":"you"},{"startTime":402.214,"endTime":405.078,"body":"know,"},{"startTime":405.078,"endTime":407.942,"body":"we"},{"startTime":407.942,"endTime":410.806,"body":"spend"},{"startTime":410.806,"endTime":413.67,"body":"time"},{"startTime":413.67,"endTime":416.534,"body":"kind"},{"startTime":416.534,"endTime":419.398,"body":"of"},{"startTime":419.398,"endTime":422.262,"body":"understanding."},{"startTime":184.55,"endTime":192.098,"body":"\rAnd,you"},{"startTime":192.098,"endTime":195.872,"body":"know,"},{"startTime":195.872,"endTime":199.646,"body":"we"},{"startTime":199.646,"endTime":203.42,"body":"spend"},{"startTime":203.42,"endTime":207.194,"body":"time"},{"startTime":207.194,"endTime":210.968,"body":"discussing"},{"startTime":210.968,"endTime":214.742,"body":"with"},{"startTime":214.742,"endTime":218.516,"body":"clients"},{"startTime":218.516,"endTime":222.29,"body":"positioning,"},{"startTime":222.29,"endTime":226.064,"body":"we"},{"startTime":226.064,"endTime":229.838,"body":"spend"},{"startTime":229.838,"endTime":233.612,"body":"time"},{"startTime":233.612,"endTime":237.386,"body":"discussing"},{"startTime":237.386,"endTime":241.16,"body":"the"},{"startTime":241.16,"endTime":244.934,"body":"recovery"},{"startTime":244.934,"endTime":248.708,"body":"dynamics."},{"startTime":248.708,"endTime":252.482,"body":"By"},{"startTime":252.482,"endTime":256.256,"body":"all"},{"startTime":256.256,"endTime":260.03,"body":"means"},{"startTime":260.03,"endTime":263.804,"body":"it's"},{"startTime":263.804,"endTime":267.578,"body":"a"},{"startTime":267.578,"endTime":271.352,"body":"trade"},{"startTime":271.352,"endTime":275.126,"body":"that"},{"startTime":275.126,"endTime":278.9,"body":"historically"},{"startTime":278.9,"endTime":282.674,"body":"had"},{"startTime":282.674,"endTime":286.448,"body":"very"},{"startTime":286.448,"endTime":290.222,"body":"strong"},{"startTime":290.222,"endTime":293.996,"body":"mean"},{"startTime":293.996,"endTime":297.77,"body":"reverting"},{"startTime":297.77,"endTime":301.544,"body":"properties"},{"startTime":301.544,"endTime":305.318,"body":"because"},{"startTime":305.318,"endTime":309.092,"body":"backwardation,"},{"startTime":309.092,"endTime":312.866,"body":"unless"},{"startTime":312.866,"endTime":316.64,"body":"the"},{"startTime":316.64,"endTime":320.414,"body":"supply"},{"startTime":320.414,"endTime":324.188,"body":"shock"},{"startTime":324.188,"endTime":327.962,"body":"is"},{"startTime":327.962,"endTime":331.736,"body":"permanent,"},{"startTime":331.736,"endTime":335.51,"body":"mean"},{"startTime":335.51,"endTime":339.284,"body":"reverts"},{"startTime":339.284,"endTime":343.058,"body":"very"},{"startTime":343.058,"endTime":346.832,"body":"quickly."},{"startTime":346.832,"endTime":350.606,"body":"So,"},{"startTime":350.606,"endTime":354.38,"body":"normalization"},{"startTime":354.38,"endTime":358.154,"body":"of"},{"startTime":358.154,"endTime":361.928,"body":"the"},{"startTime":361.928,"endTime":365.702,"body":"curves"},{"startTime":365.702,"endTime":369.476,"body":"would"},{"startTime":369.476,"endTime":373.25,"body":"bring"},{"startTime":373.25,"endTime":377.024,"body":"back"},{"startTime":377.024,"endTime":380.798,"body":"if"},{"startTime":380.798,"endTime":384.572,"body":"you"},{"startTime":384.572,"endTime":388.346,"body":"like,"},{"startTime":388.346,"endTime":392.12,"body":"on"},{"startTime":392.12,"endTime":395.894,"body":"a"},{"startTime":395.894,"endTime":399.668,"body":"mark"},{"startTime":399.668,"endTime":403.442,"body":"to"},{"startTime":403.442,"endTime":407.216,"body":"market"},{"startTime":407.216,"endTime":410.99,"body":"basis"},{"startTime":410.99,"endTime":414.764,"body":"the"},{"startTime":414.764,"endTime":418.538,"body":"lost"},{"startTime":418.538,"endTime":422.312,"body":"return."},{"startTime":184.55,"endTime":191.442,"body":"\rSoyeah,"},{"startTime":191.442,"endTime":194.888,"body":"that"},{"startTime":194.888,"endTime":198.334,"body":"is"},{"startTime":198.334,"endTime":201.78,"body":"a"},{"startTime":201.78,"endTime":205.226,"body":"topic"},{"startTime":205.226,"endTime":208.672,"body":"that,"},{"startTime":208.672,"endTime":212.118,"body":"you"},{"startTime":212.118,"endTime":215.564,"body":"know,"},{"startTime":215.564,"endTime":219.01,"body":"we"},{"startTime":219.01,"endTime":222.456,"body":"spend"},{"startTime":222.456,"endTime":225.902,"body":"a"},{"startTime":225.902,"endTime":229.348,"body":"lot"},{"startTime":229.348,"endTime":232.794,"body":"of"},{"startTime":232.794,"endTime":236.24,"body":"time."},{"startTime":236.24,"endTime":239.686,"body":"That"},{"startTime":239.686,"endTime":243.132,"body":"is"},{"startTime":243.132,"endTime":246.578,"body":"a"},{"startTime":246.578,"endTime":250.024,"body":"topic"},{"startTime":250.024,"endTime":253.47,"body":"that,"},{"startTime":253.47,"endTime":256.916,"body":"you"},{"startTime":256.916,"endTime":260.362,"body":"know,"},{"startTime":260.362,"endTime":263.808,"body":"it's"},{"startTime":263.808,"endTime":267.254,"body":"on"},{"startTime":267.254,"endTime":270.7,"body":"our"},{"startTime":270.7,"endTime":274.146,"body":"radar"},{"startTime":274.146,"endTime":277.592,"body":"for"},{"startTime":277.592,"endTime":281.038,"body":"sure."},{"startTime":281.038,"endTime":284.484,"body":"And"},{"startTime":284.484,"endTime":287.93,"body":"it's"},{"startTime":287.93,"endTime":291.376,"body":"a"},{"startTime":291.376,"endTime":294.822,"body":"consequence"},{"startTime":294.822,"endTime":298.268,"body":"of"},{"startTime":298.268,"endTime":301.714,"body":"the"},{"startTime":301.714,"endTime":305.16,"body":"macro"},{"startTime":305.16,"endTime":308.606,"body":"dynamics"},{"startTime":308.606,"endTime":312.052,"body":"that"},{"startTime":312.052,"endTime":315.498,"body":"literally"},{"startTime":315.498,"endTime":318.944,"body":"came"},{"startTime":318.944,"endTime":322.39,"body":"on"},{"startTime":322.39,"endTime":325.836,"body":"the"},{"startTime":325.836,"endTime":329.282,"body":"back"},{"startTime":329.282,"endTime":332.728,"body":"end"},{"startTime":332.728,"endTime":336.174,"body":"of"},{"startTime":336.174,"endTime":339.62,"body":"us"},{"startTime":339.62,"endTime":343.066,"body":"kind"},{"startTime":343.066,"endTime":346.512,"body":"of"},{"startTime":346.512,"endTime":349.958,"body":"defending"},{"startTime":349.958,"endTime":353.404,"body":"the"},{"startTime":353.404,"endTime":356.85,"body":"nat."},{"startTime":356.85,"endTime":360.296,"body":"gas"},{"startTime":360.296,"endTime":363.742,"body":"exposure"},{"startTime":363.742,"endTime":367.188,"body":"and"},{"startTime":367.188,"endTime":370.634,"body":"how"},{"startTime":370.634,"endTime":374.08,"body":"that"},{"startTime":374.08,"endTime":377.526,"body":"would"},{"startTime":377.526,"endTime":380.972,"body":"kind"},{"startTime":380.972,"endTime":384.418,"body":"of"},{"startTime":384.418,"endTime":387.864,"body":"turn"},{"startTime":387.864,"endTime":391.31,"body":"around"},{"startTime":391.31,"endTime":394.756,"body":"should"},{"startTime":394.756,"endTime":398.202,"body":"things"},{"startTime":398.202,"endTime":401.648,"body":"normalize,"},{"startTime":401.648,"endTime":405.094,"body":"I"},{"startTime":405.094,"endTime":408.54,"body":"guess,"},{"startTime":408.54,"endTime":411.986,"body":"on"},{"startTime":411.986,"endTime":415.432,"body":"the"},{"startTime":415.432,"endTime":418.878,"body":"weather"},{"startTime":418.878,"endTime":422.324,"body":"side."},{"startTime":184.55,"endTime":189.212,"body":"\rSoyeah,"},{"startTime":189.212,"endTime":191.543,"body":"there"},{"startTime":191.543,"endTime":193.874,"body":"was"},{"startTime":193.874,"endTime":196.205,"body":"this"},{"startTime":196.205,"endTime":198.536,"body":"coverage"},{"startTime":198.536,"endTime":200.867,"body":"on"},{"startTime":200.867,"endTime":203.198,"body":"Bloomberg."},{"startTime":203.198,"endTime":205.529,"body":"Obviously,"},{"startTime":205.529,"endTime":207.86,"body":"it"},{"startTime":207.86,"endTime":210.191,"body":"was"},{"startTime":210.191,"endTime":212.522,"body":"circulated"},{"startTime":212.522,"endTime":214.853,"body":"between"},{"startTime":214.853,"endTime":217.184,"body":"the"},{"startTime":217.184,"endTime":219.515,"body":"team."},{"startTime":219.515,"endTime":221.846,"body":"Obviously,"},{"startTime":221.846,"endTime":224.177,"body":"it"},{"startTime":224.177,"endTime":226.508,"body":"has"},{"startTime":226.508,"endTime":228.839,"body":"been"},{"startTime":228.839,"endTime":231.17,"body":"discussed"},{"startTime":231.17,"endTime":233.501,"body":"with"},{"startTime":233.501,"endTime":235.832,"body":"clients,"},{"startTime":235.832,"endTime":238.163,"body":"and"},{"startTime":238.163,"endTime":240.494,"body":"I"},{"startTime":240.494,"endTime":242.825,"body":"think"},{"startTime":242.825,"endTime":245.156,"body":"it's"},{"startTime":245.156,"endTime":247.487,"body":"a"},{"startTime":247.487,"endTime":249.818,"body":"topic"},{"startTime":249.818,"endTime":252.149,"body":"that"},{"startTime":252.149,"endTime":254.48,"body":"you"},{"startTime":254.48,"endTime":256.811,"body":"and"},{"startTime":256.811,"endTime":259.142,"body":"I"},{"startTime":259.142,"endTime":261.473,"body":"discussed"},{"startTime":261.473,"endTime":263.804,"body":"as"},{"startTime":263.804,"endTime":266.135,"body":"an"},{"startTime":266.135,"endTime":268.466,"body":"interesting"},{"startTime":268.466,"endTime":270.797,"body":"one"},{"startTime":270.797,"endTime":273.128,"body":"to"},{"startTime":273.128,"endTime":275.459,"body":"kind"},{"startTime":275.459,"endTime":277.79,"body":"of"},{"startTime":277.79,"endTime":280.121,"body":"bring"},{"startTime":280.121,"endTime":282.452,"body":"about."},{"startTime":282.452,"endTime":284.783,"body":"The"},{"startTime":284.783,"endTime":287.114,"body":"article"},{"startTime":287.114,"endTime":289.445,"body":"itself"},{"startTime":289.445,"endTime":291.776,"body":"obviously"},{"startTime":291.776,"endTime":294.107,"body":"quotes"},{"startTime":294.107,"endTime":296.438,"body":"a"},{"startTime":296.438,"endTime":298.769,"body":"number"},{"startTime":298.769,"endTime":301.1,"body":"of"},{"startTime":301.1,"endTime":303.431,"body":"players"},{"startTime":303.431,"endTime":305.762,"body":"in"},{"startTime":305.762,"endTime":308.093,"body":"the"},{"startTime":308.093,"endTime":310.424,"body":"space,"},{"startTime":310.424,"endTime":312.755,"body":"from"},{"startTime":312.755,"endTime":315.086,"body":"the"},{"startTime":315.086,"endTime":317.417,"body":"kind"},{"startTime":317.417,"endTime":319.748,"body":"of"},{"startTime":319.748,"endTime":322.079,"body":"a"},{"startTime":322.079,"endTime":324.41,"body":"buy"},{"startTime":324.41,"endTime":326.741,"body":"side,"},{"startTime":326.741,"endTime":329.072,"body":"the"},{"startTime":329.072,"endTime":331.403,"body":"sell"},{"startTime":331.403,"endTime":333.734,"body":"side."},{"startTime":333.734,"endTime":336.065,"body":"It"},{"startTime":336.065,"endTime":338.396,"body":"quotes,"},{"startTime":338.396,"endTime":340.727,"body":"obviously,"},{"startTime":340.727,"endTime":343.058,"body":"how"},{"startTime":343.058,"endTime":345.389,"body":"big"},{"startTime":345.389,"endTime":347.72,"body":"the"},{"startTime":347.72,"endTime":350.051,"body":"QI"},{"startTime":350.051,"endTime":352.382,"body":"space"},{"startTime":352.382,"endTime":354.713,"body":"has"},{"startTime":354.713,"endTime":357.044,"body":"become,"},{"startTime":357.044,"endTime":359.375,"body":"which"},{"startTime":359.375,"endTime":361.706,"body":"is"},{"startTime":361.706,"endTime":364.037,"body":"something"},{"startTime":364.037,"endTime":366.368,"body":"that"},{"startTime":366.368,"endTime":368.699,"body":"we"},{"startTime":368.699,"endTime":371.03,"body":"have"},{"startTime":371.03,"endTime":373.361,"body":"discussed."},{"startTime":373.361,"endTime":375.692,"body":"I"},{"startTime":375.692,"endTime":378.023,"body":"think"},{"startTime":378.023,"endTime":380.354,"body":"I"},{"startTime":380.354,"endTime":382.685,"body":"discussed"},{"startTime":382.685,"endTime":385.016,"body":"that"},{"startTime":385.016,"endTime":387.347,"body":"with"},{"startTime":387.347,"endTime":389.678,"body":"Moritz"},{"startTime":389.678,"endTime":392.009,"body":"back"},{"startTime":392.009,"endTime":394.34,"body":"in"},{"startTime":394.34,"endTime":396.671,"body":"November."},{"startTime":396.671,"endTime":399.002,"body":"It"},{"startTime":399.002,"endTime":401.333,"body":"is"},{"startTime":401.333,"endTime":403.664,"body":"probably"},{"startTime":403.664,"endTime":405.995,"body":"now"},{"startTime":405.995,"endTime":408.326,"body":"on"},{"startTime":408.326,"endTime":410.657,"body":"the"},{"startTime":410.657,"endTime":412.988,"body":"US$600"},{"startTime":412.988,"endTime":415.319,"body":"to"},{"startTime":415.319,"endTime":417.65,"body":"US$700"},{"startTime":417.65,"endTime":419.981,"body":"billion"},{"startTime":419.981,"endTime":422.312,"body":"mark."},{"startTime":184.55,"endTime":191.866,"body":"\rAgain,it's"},{"startTime":191.866,"endTime":195.524,"body":"quite"},{"startTime":195.524,"endTime":199.182,"body":"substantial."},{"startTime":199.182,"endTime":202.84,"body":"It's"},{"startTime":202.84,"endTime":206.498,"body":"quite"},{"startTime":206.498,"endTime":210.156,"body":"substantial."},{"startTime":210.156,"endTime":213.814,"body":"But"},{"startTime":213.814,"endTime":217.472,"body":"this"},{"startTime":217.472,"endTime":221.13,"body":"is"},{"startTime":221.13,"endTime":224.788,"body":"now"},{"startTime":224.788,"endTime":228.446,"body":"a"},{"startTime":228.446,"endTime":232.104,"body":"multi"},{"startTime":232.104,"endTime":235.762,"body":"asset"},{"startTime":235.762,"endTime":239.42,"body":"space,"},{"startTime":239.42,"endTime":243.078,"body":"delta"},{"startTime":243.078,"endTime":246.736,"body":"one"},{"startTime":246.736,"endTime":250.394,"body":"vol,"},{"startTime":250.394,"endTime":254.052,"body":"retail,"},{"startTime":254.052,"endTime":257.71,"body":"institutional,"},{"startTime":257.71,"endTime":261.368,"body":"so,"},{"startTime":261.368,"endTime":265.026,"body":"it"},{"startTime":265.026,"endTime":268.684,"body":"kind"},{"startTime":268.684,"endTime":272.342,"body":"of"},{"startTime":272.342,"endTime":276,"body":"spans"},{"startTime":276,"endTime":279.658,"body":"across"},{"startTime":279.658,"endTime":283.316,"body":"a"},{"startTime":283.316,"endTime":286.974,"body":"number"},{"startTime":286.974,"endTime":290.632,"body":"of"},{"startTime":290.632,"endTime":294.29,"body":"return"},{"startTime":294.29,"endTime":297.948,"body":"profiles."},{"startTime":297.948,"endTime":301.606,"body":"And"},{"startTime":301.606,"endTime":305.264,"body":"yeah,"},{"startTime":305.264,"endTime":308.922,"body":"I"},{"startTime":308.922,"endTime":312.58,"body":"mean,"},{"startTime":312.58,"endTime":316.238,"body":"I"},{"startTime":316.238,"endTime":319.896,"body":"mentioned"},{"startTime":319.896,"endTime":323.554,"body":"that"},{"startTime":323.554,"endTime":327.212,"body":"this"},{"startTime":327.212,"endTime":330.87,"body":"is"},{"startTime":330.87,"endTime":334.528,"body":"probably"},{"startTime":334.528,"endTime":338.186,"body":"one"},{"startTime":338.186,"endTime":341.844,"body":"of"},{"startTime":341.844,"endTime":345.502,"body":"the"},{"startTime":345.502,"endTime":349.16,"body":"oldest"},{"startTime":349.16,"endTime":352.818,"body":"because"},{"startTime":352.818,"endTime":356.476,"body":"it"},{"startTime":356.476,"endTime":360.134,"body":"is"},{"startTime":360.134,"endTime":363.792,"body":"perhaps"},{"startTime":363.792,"endTime":367.45,"body":"one"},{"startTime":367.45,"endTime":371.108,"body":"of"},{"startTime":371.108,"endTime":374.766,"body":"the"},{"startTime":374.766,"endTime":378.424,"body":"reasons"},{"startTime":378.424,"endTime":382.082,"body":"why"},{"startTime":382.082,"endTime":385.74,"body":"QIS"},{"startTime":385.74,"endTime":389.398,"body":"products"},{"startTime":389.398,"endTime":393.056,"body":"were"},{"startTime":393.056,"endTime":396.714,"body":"built"},{"startTime":396.714,"endTime":400.372,"body":"15"},{"startTime":400.372,"endTime":404.03,"body":"years"},{"startTime":404.03,"endTime":407.688,"body":"ago"},{"startTime":407.688,"endTime":411.346,"body":"or"},{"startTime":411.346,"endTime":415.004,"body":"20"},{"startTime":415.004,"endTime":418.662,"body":"years"},{"startTime":418.662,"endTime":422.32,"body":"ago."},{"startTime":184.55,"endTime":191.648,"body":"\rYoujust"},{"startTime":191.648,"endTime":195.197,"body":"want"},{"startTime":195.197,"endTime":198.746,"body":"to"},{"startTime":198.746,"endTime":202.295,"body":"have"},{"startTime":202.295,"endTime":205.844,"body":"commodity"},{"startTime":205.844,"endTime":209.393,"body":"exposure."},{"startTime":209.393,"endTime":212.942,"body":"You"},{"startTime":212.942,"endTime":216.491,"body":"don't"},{"startTime":216.491,"endTime":220.04,"body":"want"},{"startTime":220.04,"endTime":223.589,"body":"to"},{"startTime":223.589,"endTime":227.138,"body":"hold"},{"startTime":227.138,"endTime":230.687,"body":"physical"},{"startTime":230.687,"endTime":234.236,"body":"commodities."},{"startTime":234.236,"endTime":237.785,"body":"You're"},{"startTime":237.785,"endTime":241.334,"body":"going"},{"startTime":241.334,"endTime":244.883,"body":"to"},{"startTime":244.883,"endTime":248.432,"body":"go"},{"startTime":248.432,"endTime":251.981,"body":"to"},{"startTime":251.981,"endTime":255.53,"body":"the"},{"startTime":255.53,"endTime":259.079,"body":"futures"},{"startTime":259.079,"endTime":262.628,"body":"market,"},{"startTime":262.628,"endTime":266.177,"body":"you're"},{"startTime":266.177,"endTime":269.726,"body":"going"},{"startTime":269.726,"endTime":273.275,"body":"to"},{"startTime":273.275,"endTime":276.824,"body":"roll"},{"startTime":276.824,"endTime":280.373,"body":"systematically."},{"startTime":280.373,"endTime":283.922,"body":"That's"},{"startTime":283.922,"endTime":287.471,"body":"a"},{"startTime":287.471,"endTime":291.02,"body":"systematic"},{"startTime":291.02,"endTime":294.569,"body":"strategy."},{"startTime":294.569,"endTime":298.118,"body":"Then"},{"startTime":298.118,"endTime":301.667,"body":"you"},{"startTime":301.667,"endTime":305.216,"body":"realize"},{"startTime":305.216,"endTime":308.765,"body":"that"},{"startTime":308.765,"endTime":312.314,"body":"doing"},{"startTime":312.314,"endTime":315.863,"body":"it"},{"startTime":315.863,"endTime":319.412,"body":"on"},{"startTime":319.412,"endTime":322.961,"body":"the"},{"startTime":322.961,"endTime":326.51,"body":"front"},{"startTime":326.51,"endTime":330.059,"body":"has"},{"startTime":330.059,"endTime":333.608,"body":"negative"},{"startTime":333.608,"endTime":337.157,"body":"roll"},{"startTime":337.157,"endTime":340.706,"body":"yield."},{"startTime":340.706,"endTime":344.255,"body":"You"},{"startTime":344.255,"endTime":347.804,"body":"do"},{"startTime":347.804,"endTime":351.353,"body":"it"},{"startTime":351.353,"endTime":354.902,"body":"on"},{"startTime":354.902,"endTime":358.451,"body":"the"},{"startTime":358.451,"endTime":362,"body":"back"},{"startTime":362,"endTime":365.549,"body":"end"},{"startTime":365.549,"endTime":369.098,"body":"of"},{"startTime":369.098,"endTime":372.647,"body":"the"},{"startTime":372.647,"endTime":376.196,"body":"curve,"},{"startTime":376.196,"endTime":379.745,"body":"you"},{"startTime":379.745,"endTime":383.294,"body":"realize"},{"startTime":383.294,"endTime":386.843,"body":"you"},{"startTime":386.843,"endTime":390.392,"body":"have"},{"startTime":390.392,"endTime":393.941,"body":"some"},{"startTime":393.941,"endTime":397.49,"body":"alpha,"},{"startTime":397.49,"endTime":401.039,"body":"you"},{"startTime":401.039,"endTime":404.588,"body":"short"},{"startTime":404.588,"endTime":408.137,"body":"the"},{"startTime":408.137,"endTime":411.686,"body":"front."},{"startTime":411.686,"endTime":415.235,"body":"Here's"},{"startTime":415.235,"endTime":418.784,"body":"your"},{"startTime":418.784,"endTime":422.333,"body":"curve."},{"startTime":422.98,"endTime":423.511,"body":"Talk"},{"startTime":423.511,"endTime":424.042,"body":"to"},{"startTime":424.042,"endTime":424.573,"body":"me"},{"startTime":424.573,"endTime":425.104,"body":"about"},{"startTime":425.104,"endTime":425.635,"body":"one"},{"startTime":425.635,"endTime":426.166,"body":"thing."},{"startTime":426.166,"endTime":426.697,"body":"I'm"},{"startTime":426.697,"endTime":427.228,"body":"definitely"},{"startTime":427.228,"endTime":427.759,"body":"not"},{"startTime":427.759,"endTime":428.29,"body":"an"},{"startTime":428.29,"endTime":428.821,"body":"expert"},{"startTime":428.821,"endTime":429.352,"body":"in"},{"startTime":429.352,"endTime":429.883,"body":"commodity"},{"startTime":429.883,"endTime":430.414,"body":"spreads"},{"startTime":430.414,"endTime":430.945,"body":"and"},{"startTime":430.945,"endTime":431.476,"body":"certainly"},{"startTime":431.476,"endTime":432.007,"body":"not"},{"startTime":432.007,"endTime":432.538,"body":"in"},{"startTime":432.538,"endTime":433.069,"body":"the"},{"startTime":433.069,"endTime":433.6,"body":"details"},{"startTime":433.6,"endTime":434.131,"body":"of"},{"startTime":434.131,"endTime":434.662,"body":"some"},{"startTime":434.662,"endTime":435.193,"body":"of"},{"startTime":435.193,"endTime":435.724,"body":"these"},{"startTime":435.724,"endTime":436.255,"body":"energy"},{"startTime":436.255,"endTime":436.786,"body":"markets"},{"startTime":436.786,"endTime":437.317,"body":"that"},{"startTime":437.317,"endTime":437.848,"body":"are"},{"startTime":437.848,"endTime":438.379,"body":"being"},{"startTime":438.379,"endTime":438.91,"body":"affected."},{"startTime":438.91,"endTime":439.441,"body":"But"},{"startTime":439.441,"endTime":439.972,"body":"I"},{"startTime":439.972,"endTime":440.503,"body":"did"},{"startTime":440.503,"endTime":441.034,"body":"hear"},{"startTime":441.034,"endTime":441.565,"body":"a"},{"startTime":441.565,"endTime":442.096,"body":"conversation"},{"startTime":442.096,"endTime":442.627,"body":"very,"},{"startTime":442.627,"endTime":443.158,"body":"very"},{"startTime":443.158,"endTime":443.689,"body":"recently"},{"startTime":443.689,"endTime":444.22,"body":"that"},{"startTime":444.22,"endTime":444.751,"body":"talked"},{"startTime":444.751,"endTime":445.282,"body":"about"},{"startTime":445.282,"endTime":445.813,"body":"something"},{"startTime":445.813,"endTime":446.344,"body":"that"},{"startTime":446.344,"endTime":446.875,"body":"I"},{"startTime":446.875,"endTime":447.406,"body":"had"},{"startTime":447.406,"endTime":447.937,"body":"never"},{"startTime":447.937,"endTime":448.468,"body":"really"},{"startTime":448.468,"endTime":448.999,"body":"thought"},{"startTime":448.999,"endTime":449.53,"body":"about"},{"startTime":449.53,"endTime":450.061,"body":"too"},{"startTime":450.061,"endTime":450.592,"body":"much."},{"startTime":450.592,"endTime":451.123,"body":"And"},{"startTime":451.123,"endTime":451.654,"body":"I've"},{"startTime":451.654,"endTime":452.185,"body":"noticed"},{"startTime":452.185,"endTime":452.716,"body":"obviously"},{"startTime":452.716,"endTime":453.247,"body":"the"},{"startTime":453.247,"endTime":453.778,"body":"price"},{"startTime":453.778,"endTime":454.309,"body":"differences"},{"startTime":454.309,"endTime":454.84,"body":"and"},{"startTime":454.84,"endTime":455.371,"body":"the,"},{"startTime":455.371,"endTime":455.902,"body":"and"},{"startTime":455.902,"endTime":456.433,"body":"the"},{"startTime":456.433,"endTime":456.964,"body":"volatility"},{"startTime":456.964,"endTime":457.495,"body":"differences"},{"startTime":457.495,"endTime":458.026,"body":"between"},{"startTime":458.026,"endTime":458.557,"body":"the"},{"startTime":458.557,"endTime":459.088,"body":"gases"},{"startTime":459.088,"endTime":459.619,"body":"and"},{"startTime":459.619,"endTime":460.15,"body":"the"},{"startTime":460.15,"endTime":460.681,"body":"oils."},{"startTime":460.681,"endTime":461.212,"body":"And"},{"startTime":461.212,"endTime":461.743,"body":"what's"},{"startTime":461.743,"endTime":462.274,"body":"quite"},{"startTime":462.274,"endTime":462.805,"body":"fascinating"},{"startTime":462.805,"endTime":463.336,"body":"about"},{"startTime":463.336,"endTime":463.867,"body":"this"},{"startTime":463.867,"endTime":464.398,"body":"conversation"},{"startTime":464.398,"endTime":464.929,"body":"was"},{"startTime":464.929,"endTime":465.46,"body":"really"},{"startTime":465.46,"endTime":465.991,"body":"that"},{"startTime":465.991,"endTime":466.522,"body":"the"},{"startTime":466.522,"endTime":467.053,"body":"person"},{"startTime":467.053,"endTime":467.584,"body":"explained"},{"startTime":467.584,"endTime":468.115,"body":"it's"},{"startTime":468.115,"endTime":468.646,"body":"very"},{"startTime":468.646,"endTime":469.177,"body":"different"},{"startTime":469.177,"endTime":469.708,"body":"dynamics"},{"startTime":469.708,"endTime":470.239,"body":"that"},{"startTime":470.239,"endTime":470.77,"body":"drives"},{"startTime":470.77,"endTime":471.301,"body":"those"},{"startTime":471.301,"endTime":471.832,"body":"two"},{"startTime":471.832,"endTime":472.363,"body":"because"},{"startTime":472.363,"endTime":472.894,"body":"whilst"},{"startTime":472.894,"endTime":473.425,"body":"the"},{"startTime":473.425,"endTime":473.956,"body":"oil"},{"startTime":473.956,"endTime":474.487,"body":"transportation"},{"startTime":474.487,"endTime":475.018,"body":"cost"},{"startTime":475.018,"endTime":475.549,"body":"is"},{"startTime":475.549,"endTime":476.08,"body":"really"},{"startTime":476.08,"endTime":476.611,"body":"not"},{"startTime":476.611,"endTime":477.142,"body":"a"},{"startTime":477.142,"endTime":477.673,"body":"big"},{"startTime":477.673,"endTime":478.204,"body":"part"},{"startTime":478.204,"endTime":478.735,"body":"of"},{"startTime":478.735,"endTime":479.266,"body":"the"},{"startTime":479.266,"endTime":479.797,"body":"setting"},{"startTime":479.797,"endTime":480.328,"body":"of"},{"startTime":480.328,"endTime":480.859,"body":"the"},{"startTime":480.859,"endTime":481.39,"body":"price,"},{"startTime":481.39,"endTime":481.921,"body":"but"},{"startTime":481.921,"endTime":482.452,"body":"in"},{"startTime":482.452,"endTime":482.983,"body":"the"},{"startTime":482.983,"endTime":483.514,"body":"gases"},{"startTime":483.514,"endTime":484.045,"body":"it"},{"startTime":484.045,"endTime":484.576,"body":"plays"},{"startTime":484.576,"endTime":485.107,"body":"a"},{"startTime":485.107,"endTime":485.638,"body":"huge"},{"startTime":485.638,"endTime":486.169,"body":"role,"},{"startTime":486.169,"endTime":486.7,"body":"is"},{"startTime":486.7,"endTime":487.231,"body":"my"},{"startTime":487.231,"endTime":487.762,"body":"understanding"},{"startTime":487.762,"endTime":488.293,"body":"in"},{"startTime":488.293,"endTime":488.824,"body":"terms"},{"startTime":488.824,"endTime":489.355,"body":"of"},{"startTime":489.355,"endTime":489.886,"body":"the"},{"startTime":489.886,"endTime":490.417,"body":"pricing"},{"startTime":490.417,"endTime":490.948,"body":"of"},{"startTime":490.948,"endTime":491.479,"body":"gas."},{"startTime":491.479,"endTime":492.01,"body":"And"},{"startTime":492.01,"endTime":492.541,"body":"with"},{"startTime":492.541,"endTime":493.072,"body":"this"},{"startTime":493.072,"endTime":493.603,"body":"week's,"},{"startTime":493.603,"endTime":494.134,"body":"I"},{"startTime":494.134,"endTime":494.665,"body":"think,"},{"startTime":494.665,"endTime":495.196,"body":"bombing"},{"startTime":495.196,"endTime":495.727,"body":"of"},{"startTime":495.727,"endTime":496.258,"body":"perhaps"},{"startTime":496.258,"endTime":496.789,"body":"the"},{"startTime":496.789,"endTime":497.32,"body":"largest"},{"startTime":497.32,"endTime":497.851,"body":"gas"},{"startTime":497.851,"endTime":498.382,"body":"facility"},{"startTime":498.382,"endTime":498.913,"body":"in"},{"startTime":498.913,"endTime":499.444,"body":"the"},{"startTime":499.444,"endTime":499.975,"body":"world,"},{"startTime":499.975,"endTime":500.506,"body":"in"},{"startTime":500.506,"endTime":501.037,"body":"Qatar,"},{"startTime":501.037,"endTime":501.568,"body":"I"},{"startTime":501.568,"endTime":502.099,"body":"think"},{"startTime":502.099,"endTime":502.63,"body":"it"},{"startTime":502.63,"endTime":503.161,"body":"was."},{"startTime":503.161,"endTime":503.692,"body":"And"},{"startTime":503.692,"endTime":504.223,"body":"I"},{"startTime":504.223,"endTime":504.754,"body":"think"},{"startTime":504.754,"endTime":505.285,"body":"that's,"},{"startTime":505.285,"endTime":505.816,"body":"that's"},{"startTime":505.816,"endTime":506.347,"body":"why"},{"startTime":506.347,"endTime":506.878,"body":"it"},{"startTime":506.878,"endTime":507.409,"body":"prompted"},{"startTime":507.409,"endTime":507.94,"body":"this"},{"startTime":507.94,"endTime":508.471,"body":"guest"},{"startTime":508.471,"endTime":509.002,"body":"to"},{"startTime":509.002,"endTime":509.533,"body":"be"},{"startTime":509.533,"endTime":510.064,"body":"invited"},{"startTime":510.064,"endTime":510.595,"body":"on"},{"startTime":510.595,"endTime":511.126,"body":"a"},{"startTime":511.126,"endTime":511.657,"body":"podcast"},{"startTime":511.657,"endTime":512.188,"body":"to"},{"startTime":512.188,"endTime":512.719,"body":"talk"},{"startTime":512.719,"endTime":513.25,"body":"about"},{"startTime":513.25,"endTime":513.781,"body":"it."},{"startTime":422.98,"endTime":426.688,"body":"\rButit's"},{"startTime":426.688,"endTime":428.542,"body":"quite"},{"startTime":428.542,"endTime":430.396,"body":"interesting,"},{"startTime":430.396,"endTime":432.25,"body":"something"},{"startTime":432.25,"endTime":434.104,"body":"I've"},{"startTime":434.104,"endTime":435.958,"body":"never"},{"startTime":435.958,"endTime":437.812,"body":"really"},{"startTime":437.812,"endTime":439.666,"body":"thought"},{"startTime":439.666,"endTime":441.52,"body":"about,"},{"startTime":441.52,"endTime":443.374,"body":"that"},{"startTime":443.374,"endTime":445.228,"body":"what"},{"startTime":445.228,"endTime":447.082,"body":"makes"},{"startTime":447.082,"endTime":448.936,"body":"up"},{"startTime":448.936,"endTime":450.79,"body":"the"},{"startTime":450.79,"endTime":452.644,"body":"price"},{"startTime":452.644,"endTime":454.498,"body":"is"},{"startTime":454.498,"endTime":456.352,"body":"quite"},{"startTime":456.352,"endTime":458.206,"body":"different"},{"startTime":458.206,"endTime":460.06,"body":"between"},{"startTime":460.06,"endTime":461.914,"body":"those"},{"startTime":461.914,"endTime":463.768,"body":"two"},{"startTime":463.768,"endTime":465.622,"body":"“energies”"},{"startTime":465.622,"endTime":467.476,"body":"that"},{"startTime":467.476,"endTime":469.33,"body":"we"},{"startTime":469.33,"endTime":471.184,"body":"just"},{"startTime":471.184,"endTime":473.038,"body":"take"},{"startTime":473.038,"endTime":474.892,"body":"for"},{"startTime":474.892,"endTime":476.746,"body":"granted"},{"startTime":476.746,"endTime":478.6,"body":"that,"},{"startTime":478.6,"endTime":480.454,"body":"you"},{"startTime":480.454,"endTime":482.308,"body":"know,"},{"startTime":482.308,"endTime":484.162,"body":"they're"},{"startTime":484.162,"endTime":486.016,"body":"either"},{"startTime":486.016,"endTime":487.87,"body":"in"},{"startTime":487.87,"endTime":489.724,"body":"the"},{"startTime":489.724,"endTime":491.578,"body":"pump,"},{"startTime":491.578,"endTime":493.432,"body":"or"},{"startTime":493.432,"endTime":495.286,"body":"they're"},{"startTime":495.286,"endTime":497.14,"body":"being"},{"startTime":497.14,"endTime":498.994,"body":"used"},{"startTime":498.994,"endTime":500.848,"body":"for"},{"startTime":500.848,"endTime":502.702,"body":"heating,"},{"startTime":502.702,"endTime":504.556,"body":"or"},{"startTime":504.556,"endTime":506.41,"body":"whatever"},{"startTime":506.41,"endTime":508.264,"body":"we"},{"startTime":508.264,"endTime":510.118,"body":"use"},{"startTime":510.118,"endTime":511.972,"body":"it"},{"startTime":511.972,"endTime":513.826,"body":"for."},{"startTime":514.19,"endTime":516.618,"body":"Yeah,"},{"startTime":516.618,"endTime":519.046,"body":"it's"},{"startTime":519.046,"endTime":521.474,"body":"quite"},{"startTime":521.474,"endTime":523.902,"body":"interesting."},{"startTime":523.902,"endTime":526.33,"body":"And"},{"startTime":526.33,"endTime":528.758,"body":"also,"},{"startTime":528.758,"endTime":531.186,"body":"from"},{"startTime":531.186,"endTime":533.614,"body":"a"},{"startTime":533.614,"endTime":536.042,"body":"portfolio"},{"startTime":536.042,"endTime":538.47,"body":"construction"},{"startTime":538.47,"endTime":540.898,"body":"risk"},{"startTime":540.898,"endTime":543.326,"body":"management"},{"startTime":543.326,"endTime":545.754,"body":"perspective,"},{"startTime":545.754,"endTime":548.182,"body":"you"},{"startTime":548.182,"endTime":550.61,"body":"think"},{"startTime":550.61,"endTime":553.038,"body":"of"},{"startTime":553.038,"endTime":555.466,"body":"them"},{"startTime":555.466,"endTime":557.894,"body":"as"},{"startTime":557.894,"endTime":560.322,"body":"like"},{"startTime":560.322,"endTime":562.75,"body":"energy"},{"startTime":562.75,"endTime":565.178,"body":"markets"},{"startTime":565.178,"endTime":567.606,"body":"but"},{"startTime":567.606,"endTime":570.034,"body":"in"},{"startTime":570.034,"endTime":572.462,"body":"reality"},{"startTime":572.462,"endTime":574.89,"body":"you"},{"startTime":574.89,"endTime":577.318,"body":"start"},{"startTime":577.318,"endTime":579.746,"body":"looking"},{"startTime":579.746,"endTime":582.174,"body":"into"},{"startTime":582.174,"endTime":584.602,"body":"even"},{"startTime":584.602,"endTime":587.03,"body":"statistical"},{"startTime":587.03,"endTime":589.458,"body":"correlations,"},{"startTime":589.458,"endTime":591.886,"body":"you"},{"startTime":591.886,"endTime":594.314,"body":"know,"},{"startTime":594.314,"endTime":596.742,"body":"there's"},{"startTime":596.742,"endTime":599.17,"body":"pretty"},{"startTime":599.17,"endTime":601.598,"body":"much"},{"startTime":601.598,"endTime":604.026,"body":"zero."},{"startTime":604.026,"endTime":606.454,"body":"There's"},{"startTime":606.454,"endTime":608.882,"body":"very"},{"startTime":608.882,"endTime":611.31,"body":"little"},{"startTime":611.31,"endTime":613.738,"body":"correlation"},{"startTime":613.738,"endTime":616.166,"body":"between"},{"startTime":616.166,"endTime":618.594,"body":"the"},{"startTime":618.594,"endTime":621.022,"body":"gases"},{"startTime":621.022,"endTime":623.45,"body":"and"},{"startTime":623.45,"endTime":625.878,"body":"the"},{"startTime":625.878,"endTime":628.306,"body":"oil"},{"startTime":628.306,"endTime":630.734,"body":"complex."},{"startTime":630.734,"endTime":633.162,"body":"The"},{"startTime":633.162,"endTime":635.59,"body":"oil"},{"startTime":635.59,"endTime":638.018,"body":"complex,"},{"startTime":638.018,"endTime":640.446,"body":"in"},{"startTime":640.446,"endTime":642.874,"body":"itself,"},{"startTime":642.874,"endTime":645.302,"body":"is"},{"startTime":645.302,"endTime":647.73,"body":"much"},{"startTime":647.73,"endTime":650.158,"body":"more"},{"startTime":650.158,"endTime":652.586,"body":"homogeneous."},{"startTime":652.586,"endTime":655.014,"body":"That"},{"startTime":655.014,"endTime":657.442,"body":"obviously"},{"startTime":657.442,"endTime":659.87,"body":"has"},{"startTime":659.87,"endTime":662.298,"body":"significant"},{"startTime":662.298,"endTime":664.726,"body":"implications"},{"startTime":664.726,"endTime":667.154,"body":"when"},{"startTime":667.154,"endTime":669.582,"body":"you"},{"startTime":669.582,"endTime":672.01,"body":"build"},{"startTime":672.01,"endTime":674.438,"body":"a"},{"startTime":674.438,"endTime":676.866,"body":"portfolio."},{"startTime":514.19,"endTime":517.044,"body":"\rSo,then"},{"startTime":517.044,"endTime":518.471,"body":"you"},{"startTime":518.471,"endTime":519.898,"body":"have"},{"startTime":519.898,"endTime":521.325,"body":"to"},{"startTime":521.325,"endTime":522.752,"body":"start"},{"startTime":522.752,"endTime":524.179,"body":"thinking,"},{"startTime":524.179,"endTime":525.606,"body":"obviously,"},{"startTime":525.606,"endTime":527.033,"body":"nat."},{"startTime":527.033,"endTime":528.46,"body":"gas"},{"startTime":528.46,"endTime":529.887,"body":"is"},{"startTime":529.887,"endTime":531.314,"body":"the"},{"startTime":531.314,"endTime":532.741,"body":"most"},{"startTime":532.741,"endTime":534.168,"body":"volatile"},{"startTime":534.168,"endTime":535.595,"body":"probably"},{"startTime":535.595,"endTime":537.022,"body":"of"},{"startTime":537.022,"endTime":538.449,"body":"them"},{"startTime":538.449,"endTime":539.876,"body":"all,"},{"startTime":539.876,"endTime":541.303,"body":"specifically"},{"startTime":541.303,"endTime":542.73,"body":"I"},{"startTime":542.73,"endTime":544.157,"body":"guess"},{"startTime":544.157,"endTime":545.584,"body":"on"},{"startTime":545.584,"endTime":547.011,"body":"the"},{"startTime":547.011,"endTime":548.438,"body":"right"},{"startTime":548.438,"endTime":549.865,"body":"tail."},{"startTime":549.865,"endTime":551.292,"body":"So,"},{"startTime":551.292,"endTime":552.719,"body":"it"},{"startTime":552.719,"endTime":554.146,"body":"spikes"},{"startTime":554.146,"endTime":555.573,"body":"quite"},{"startTime":555.573,"endTime":557,"body":"aggressively."},{"startTime":557,"endTime":558.427,"body":"For"},{"startTime":558.427,"endTime":559.854,"body":"oil,"},{"startTime":559.854,"endTime":561.281,"body":"we"},{"startTime":561.281,"endTime":562.708,"body":"can"},{"startTime":562.708,"endTime":564.135,"body":"have"},{"startTime":564.135,"endTime":565.562,"body":"a"},{"startTime":565.562,"endTime":566.989,"body":"conversation"},{"startTime":566.989,"endTime":568.416,"body":"on"},{"startTime":568.416,"endTime":569.843,"body":"both"},{"startTime":569.843,"endTime":571.27,"body":"sides"},{"startTime":571.27,"endTime":572.697,"body":"of"},{"startTime":572.697,"endTime":574.124,"body":"it"},{"startTime":574.124,"endTime":575.551,"body":"because"},{"startTime":575.551,"endTime":576.978,"body":"you"},{"startTime":576.978,"endTime":578.405,"body":"can"},{"startTime":578.405,"endTime":579.832,"body":"argue"},{"startTime":579.832,"endTime":581.259,"body":"that"},{"startTime":581.259,"endTime":582.686,"body":"there"},{"startTime":582.686,"endTime":584.113,"body":"is"},{"startTime":584.113,"endTime":585.54,"body":"a"},{"startTime":585.54,"endTime":586.967,"body":"supply"},{"startTime":586.967,"endTime":588.394,"body":"shock"},{"startTime":588.394,"endTime":589.821,"body":"as"},{"startTime":589.821,"endTime":591.248,"body":"it"},{"startTime":591.248,"endTime":592.675,"body":"currently"},{"startTime":592.675,"endTime":594.102,"body":"is"},{"startTime":594.102,"endTime":595.529,"body":"the"},{"startTime":595.529,"endTime":596.956,"body":"case,"},{"startTime":596.956,"endTime":598.383,"body":"but"},{"startTime":598.383,"endTime":599.81,"body":"also"},{"startTime":599.81,"endTime":601.237,"body":"there"},{"startTime":601.237,"endTime":602.664,"body":"is"},{"startTime":602.664,"endTime":604.091,"body":"a"},{"startTime":604.091,"endTime":605.518,"body":"macro"},{"startTime":605.518,"endTime":606.945,"body":"shock"},{"startTime":606.945,"endTime":608.372,"body":"that"},{"startTime":608.372,"endTime":609.799,"body":"can"},{"startTime":609.799,"endTime":611.226,"body":"drive"},{"startTime":611.226,"endTime":612.653,"body":"the"},{"startTime":612.653,"endTime":614.08,"body":"oil"},{"startTime":614.08,"endTime":615.507,"body":"price"},{"startTime":615.507,"endTime":616.934,"body":"further"},{"startTime":616.934,"endTime":618.361,"body":"down"},{"startTime":618.361,"endTime":619.788,"body":"because"},{"startTime":619.788,"endTime":621.215,"body":"of"},{"startTime":621.215,"endTime":622.642,"body":"reduced"},{"startTime":622.642,"endTime":624.069,"body":"productivity."},{"startTime":624.069,"endTime":625.496,"body":"So,"},{"startTime":625.496,"endTime":626.923,"body":"it"},{"startTime":626.923,"endTime":628.35,"body":"can"},{"startTime":628.35,"endTime":629.777,"body":"be"},{"startTime":629.777,"endTime":631.204,"body":"more"},{"startTime":631.204,"endTime":632.631,"body":"bidirectional"},{"startTime":632.631,"endTime":634.058,"body":"with"},{"startTime":634.058,"endTime":635.485,"body":"fat"},{"startTime":635.485,"endTime":636.912,"body":"tails."},{"startTime":636.912,"endTime":638.339,"body":"I"},{"startTime":638.339,"endTime":639.766,"body":"think"},{"startTime":639.766,"endTime":641.193,"body":"that"},{"startTime":641.193,"endTime":642.62,"body":"gas,"},{"startTime":642.62,"endTime":644.047,"body":"and"},{"startTime":644.047,"endTime":645.474,"body":"maybe"},{"startTime":645.474,"endTime":646.901,"body":"I'm"},{"startTime":646.901,"endTime":648.328,"body":"just"},{"startTime":648.328,"endTime":649.755,"body":"front"},{"startTime":649.755,"endTime":651.182,"body":"running"},{"startTime":651.182,"endTime":652.609,"body":"myself"},{"startTime":652.609,"endTime":654.036,"body":"here"},{"startTime":654.036,"endTime":655.463,"body":"without"},{"startTime":655.463,"endTime":656.89,"body":"having"},{"startTime":656.89,"endTime":658.317,"body":"looked"},{"startTime":658.317,"endTime":659.744,"body":"at"},{"startTime":659.744,"endTime":661.171,"body":"the"},{"startTime":661.171,"endTime":662.598,"body":"data"},{"startTime":662.598,"endTime":664.025,"body":"recently,"},{"startTime":664.025,"endTime":665.452,"body":"but"},{"startTime":665.452,"endTime":666.879,"body":"I"},{"startTime":666.879,"endTime":668.306,"body":"think"},{"startTime":668.306,"endTime":669.733,"body":"it's"},{"startTime":669.733,"endTime":671.16,"body":"more"},{"startTime":671.16,"endTime":672.587,"body":"of"},{"startTime":672.587,"endTime":674.014,"body":"a"},{"startTime":674.014,"endTime":675.441,"body":"right"},{"startTime":675.441,"endTime":676.868,"body":"skewed."},{"startTime":514.19,"endTime":519.704,"body":"\rButthat"},{"startTime":519.704,"endTime":522.461,"body":"level"},{"startTime":522.461,"endTime":525.218,"body":"of"},{"startTime":525.218,"endTime":527.975,"body":"volatility,"},{"startTime":527.975,"endTime":530.732,"body":"specifically,"},{"startTime":530.732,"endTime":533.489,"body":"because"},{"startTime":533.489,"endTime":536.246,"body":"it's"},{"startTime":536.246,"endTime":539.003,"body":"very"},{"startTime":539.003,"endTime":541.76,"body":"obviously"},{"startTime":541.76,"endTime":544.517,"body":"tough"},{"startTime":544.517,"endTime":547.274,"body":"to"},{"startTime":547.274,"endTime":550.031,"body":"foresee,"},{"startTime":550.031,"endTime":552.788,"body":"and"},{"startTime":552.788,"endTime":555.545,"body":"it's"},{"startTime":555.545,"endTime":558.302,"body":"also"},{"startTime":558.302,"endTime":561.059,"body":"driven"},{"startTime":561.059,"endTime":563.816,"body":"by,"},{"startTime":563.816,"endTime":566.573,"body":"obviously,"},{"startTime":566.573,"endTime":569.33,"body":"the"},{"startTime":569.33,"endTime":572.087,"body":"winter"},{"startTime":572.087,"endTime":574.844,"body":"more"},{"startTime":574.844,"endTime":577.601,"body":"than"},{"startTime":577.601,"endTime":580.358,"body":"anything,"},{"startTime":580.358,"endTime":583.115,"body":"it"},{"startTime":583.115,"endTime":585.872,"body":"has"},{"startTime":585.872,"endTime":588.629,"body":"implications"},{"startTime":588.629,"endTime":591.386,"body":"of"},{"startTime":591.386,"endTime":594.143,"body":"portfolio"},{"startTime":594.143,"endTime":596.9,"body":"design."},{"startTime":596.9,"endTime":599.657,"body":"So,"},{"startTime":599.657,"endTime":602.414,"body":"you"},{"startTime":602.414,"endTime":605.171,"body":"build"},{"startTime":605.171,"endTime":607.928,"body":"a"},{"startTime":607.928,"endTime":610.685,"body":"trend"},{"startTime":610.685,"endTime":613.442,"body":"following"},{"startTime":613.442,"endTime":616.199,"body":"strategy."},{"startTime":616.199,"endTime":618.956,"body":"How"},{"startTime":618.956,"endTime":621.713,"body":"do"},{"startTime":621.713,"endTime":624.47,"body":"you"},{"startTime":624.47,"endTime":627.227,"body":"think"},{"startTime":627.227,"endTime":629.984,"body":"of"},{"startTime":629.984,"endTime":632.741,"body":"those"},{"startTime":632.741,"endTime":635.498,"body":"markets?"},{"startTime":635.498,"endTime":638.255,"body":"How"},{"startTime":638.255,"endTime":641.012,"body":"do"},{"startTime":641.012,"endTime":643.769,"body":"you"},{"startTime":643.769,"endTime":646.526,"body":"think"},{"startTime":646.526,"endTime":649.283,"body":"of"},{"startTime":649.283,"endTime":652.04,"body":"clustering"},{"startTime":652.04,"endTime":654.797,"body":"them?"},{"startTime":654.797,"endTime":657.554,"body":"How"},{"startTime":657.554,"endTime":660.311,"body":"do"},{"startTime":660.311,"endTime":663.068,"body":"you"},{"startTime":663.068,"endTime":665.825,"body":"think"},{"startTime":665.825,"endTime":668.582,"body":"of"},{"startTime":668.582,"endTime":671.339,"body":"volatility"},{"startTime":671.339,"endTime":674.096,"body":"scaling"},{"startTime":674.096,"endTime":676.853,"body":"them?"},{"startTime":514.19,"endTime":519.614,"body":"\rYoulook"},{"startTime":519.614,"endTime":522.326,"body":"into"},{"startTime":522.326,"endTime":525.038,"body":"the"},{"startTime":525.038,"endTime":527.75,"body":"bitcoin"},{"startTime":527.75,"endTime":530.462,"body":"complex"},{"startTime":530.462,"endTime":533.174,"body":"that"},{"startTime":533.174,"endTime":535.886,"body":"has"},{"startTime":535.886,"endTime":538.598,"body":"specific"},{"startTime":538.598,"endTime":541.31,"body":"weights"},{"startTime":541.31,"endTime":544.022,"body":"that"},{"startTime":544.022,"endTime":546.734,"body":"are"},{"startTime":546.734,"endTime":549.446,"body":"driven"},{"startTime":549.446,"endTime":552.158,"body":"primarily"},{"startTime":552.158,"endTime":554.87,"body":"by,"},{"startTime":554.87,"endTime":557.582,"body":"if"},{"startTime":557.582,"endTime":560.294,"body":"you"},{"startTime":560.294,"endTime":563.006,"body":"like,"},{"startTime":563.006,"endTime":565.718,"body":"production"},{"startTime":565.718,"endTime":568.43,"body":"and"},{"startTime":568.43,"endTime":571.142,"body":"liquidity."},{"startTime":571.142,"endTime":573.854,"body":"It"},{"startTime":573.854,"endTime":576.566,"body":"doesn't"},{"startTime":576.566,"endTime":579.278,"body":"account"},{"startTime":579.278,"endTime":581.99,"body":"for"},{"startTime":581.99,"endTime":584.702,"body":"volatility."},{"startTime":584.702,"endTime":587.414,"body":"So,"},{"startTime":587.414,"endTime":590.126,"body":"then"},{"startTime":590.126,"endTime":592.838,"body":"you"},{"startTime":592.838,"endTime":595.55,"body":"end"},{"startTime":595.55,"endTime":598.262,"body":"up"},{"startTime":598.262,"endTime":600.974,"body":"being"},{"startTime":600.974,"endTime":603.686,"body":"exposed,"},{"startTime":603.686,"endTime":606.398,"body":"in"},{"startTime":606.398,"endTime":609.11,"body":"risk"},{"startTime":609.11,"endTime":611.822,"body":"terms,"},{"startTime":611.822,"endTime":614.534,"body":"more"},{"startTime":614.534,"endTime":617.246,"body":"than"},{"startTime":617.246,"endTime":619.958,"body":"what"},{"startTime":619.958,"endTime":622.67,"body":"your"},{"startTime":622.67,"endTime":625.382,"body":"notional"},{"startTime":625.382,"endTime":628.094,"body":"exposure"},{"startTime":628.094,"endTime":630.806,"body":"suggests."},{"startTime":630.806,"endTime":633.518,"body":"So,"},{"startTime":633.518,"endTime":636.23,"body":"all"},{"startTime":636.23,"endTime":638.942,"body":"these"},{"startTime":638.942,"endTime":641.654,"body":"are"},{"startTime":641.654,"endTime":644.366,"body":"important"},{"startTime":644.366,"endTime":647.078,"body":"questions"},{"startTime":647.078,"endTime":649.79,"body":"and"},{"startTime":649.79,"endTime":652.502,"body":"all"},{"startTime":652.502,"endTime":655.214,"body":"these"},{"startTime":655.214,"endTime":657.926,"body":"are"},{"startTime":657.926,"endTime":660.638,"body":"important"},{"startTime":660.638,"endTime":663.35,"body":"considerations"},{"startTime":663.35,"endTime":666.062,"body":"when"},{"startTime":666.062,"endTime":668.774,"body":"we"},{"startTime":668.774,"endTime":671.486,"body":"build"},{"startTime":671.486,"endTime":674.198,"body":"a"},{"startTime":674.198,"endTime":676.91,"body":"portfolio."},{"startTime":514.19,"endTime":518.064,"body":"\rAndI"},{"startTime":518.064,"endTime":520.001,"body":"should"},{"startTime":520.001,"endTime":521.938,"body":"say,"},{"startTime":521.938,"endTime":523.875,"body":"that"},{"startTime":523.875,"endTime":525.812,"body":"the"},{"startTime":525.812,"endTime":527.749,"body":"oil"},{"startTime":527.749,"endTime":529.686,"body":"complex"},{"startTime":529.686,"endTime":531.623,"body":"and"},{"startTime":531.623,"endTime":533.56,"body":"moves,"},{"startTime":533.56,"endTime":535.497,"body":"that"},{"startTime":535.497,"endTime":537.434,"body":"have"},{"startTime":537.434,"endTime":539.371,"body":"happened"},{"startTime":539.371,"endTime":541.308,"body":"recently,"},{"startTime":541.308,"endTime":543.245,"body":"may"},{"startTime":543.245,"endTime":545.182,"body":"be"},{"startTime":545.182,"endTime":547.119,"body":"bringing"},{"startTime":547.119,"endTime":549.056,"body":"that"},{"startTime":549.056,"endTime":550.993,"body":"kind"},{"startTime":550.993,"endTime":552.93,"body":"of"},{"startTime":552.93,"endTime":554.867,"body":"closer"},{"startTime":554.867,"endTime":556.804,"body":"to"},{"startTime":556.804,"endTime":558.741,"body":"home"},{"startTime":558.741,"endTime":560.678,"body":"for"},{"startTime":560.678,"endTime":562.615,"body":"us."},{"startTime":562.615,"endTime":564.552,"body":"They"},{"startTime":564.552,"endTime":566.489,"body":"were"},{"startTime":566.489,"endTime":568.426,"body":"very"},{"startTime":568.426,"endTime":570.363,"body":"well"},{"startTime":570.363,"endTime":572.3,"body":"captured"},{"startTime":572.3,"endTime":574.237,"body":"by"},{"startTime":574.237,"endTime":576.174,"body":"trend"},{"startTime":576.174,"endTime":578.111,"body":"following"},{"startTime":578.111,"endTime":580.048,"body":"which,"},{"startTime":580.048,"endTime":581.985,"body":"in"},{"startTime":581.985,"endTime":583.922,"body":"itself,"},{"startTime":583.922,"endTime":585.859,"body":"given"},{"startTime":585.859,"endTime":587.796,"body":"the"},{"startTime":587.796,"endTime":589.733,"body":"rise"},{"startTime":589.733,"endTime":591.67,"body":"in"},{"startTime":591.67,"endTime":593.607,"body":"the"},{"startTime":593.607,"endTime":595.544,"body":"volatility,"},{"startTime":595.544,"endTime":597.481,"body":"it"},{"startTime":597.481,"endTime":599.418,"body":"is"},{"startTime":599.418,"endTime":601.355,"body":"reducing"},{"startTime":601.355,"endTime":603.292,"body":"risk"},{"startTime":603.292,"endTime":605.229,"body":"exposure"},{"startTime":605.229,"endTime":607.166,"body":"precisely"},{"startTime":607.166,"endTime":609.103,"body":"because,"},{"startTime":609.103,"endTime":611.04,"body":"yes,"},{"startTime":611.04,"endTime":612.977,"body":"it"},{"startTime":612.977,"endTime":614.914,"body":"might"},{"startTime":614.914,"endTime":616.851,"body":"be"},{"startTime":616.851,"endTime":618.788,"body":"spiking,"},{"startTime":618.788,"endTime":620.725,"body":"but"},{"startTime":620.725,"endTime":622.662,"body":"it's"},{"startTime":622.662,"endTime":624.599,"body":"spiking"},{"startTime":624.599,"endTime":626.536,"body":"so"},{"startTime":626.536,"endTime":628.473,"body":"aggressively"},{"startTime":628.473,"endTime":630.41,"body":"so"},{"startTime":630.41,"endTime":632.347,"body":"that"},{"startTime":632.347,"endTime":634.284,"body":"the"},{"startTime":634.284,"endTime":636.221,"body":"volatility"},{"startTime":636.221,"endTime":638.158,"body":"itself"},{"startTime":638.158,"endTime":640.095,"body":"suggests,"},{"startTime":640.095,"endTime":642.032,"body":"look,"},{"startTime":642.032,"endTime":643.969,"body":"there"},{"startTime":643.969,"endTime":645.906,"body":"is"},{"startTime":645.906,"endTime":647.843,"body":"a"},{"startTime":647.843,"endTime":649.78,"body":"trend,"},{"startTime":649.78,"endTime":651.717,"body":"but"},{"startTime":651.717,"endTime":653.654,"body":"maybe"},{"startTime":653.654,"endTime":655.591,"body":"you"},{"startTime":655.591,"endTime":657.528,"body":"should"},{"startTime":657.528,"endTime":659.465,"body":"be"},{"startTime":659.465,"endTime":661.402,"body":"more"},{"startTime":661.402,"endTime":663.339,"body":"conscious"},{"startTime":663.339,"endTime":665.276,"body":"of"},{"startTime":665.276,"endTime":667.213,"body":"the"},{"startTime":667.213,"endTime":669.15,"body":"amount"},{"startTime":669.15,"endTime":671.087,"body":"of"},{"startTime":671.087,"endTime":673.024,"body":"risk"},{"startTime":673.024,"endTime":674.961,"body":"you"},{"startTime":674.961,"endTime":676.898,"body":"deploy."},{"startTime":514.19,"endTime":520.698,"body":"\rSo,I"},{"startTime":520.698,"endTime":523.952,"body":"guess"},{"startTime":523.952,"endTime":527.206,"body":"in"},{"startTime":527.206,"endTime":530.46,"body":"the"},{"startTime":530.46,"endTime":533.714,"body":"broader"},{"startTime":533.714,"endTime":536.968,"body":"context"},{"startTime":536.968,"endTime":540.222,"body":"the"},{"startTime":540.222,"endTime":543.476,"body":"benefits"},{"startTime":543.476,"endTime":546.73,"body":"of"},{"startTime":546.73,"endTime":549.984,"body":"diversification"},{"startTime":549.984,"endTime":553.238,"body":"and"},{"startTime":553.238,"endTime":556.492,"body":"multi"},{"startTime":556.492,"endTime":559.746,"body":"strat"},{"startTime":559.746,"endTime":563,"body":"portfolio,"},{"startTime":563,"endTime":566.254,"body":"when"},{"startTime":566.254,"endTime":569.508,"body":"it"},{"startTime":569.508,"endTime":572.762,"body":"comes"},{"startTime":572.762,"endTime":576.016,"body":"to"},{"startTime":576.016,"endTime":579.27,"body":"commodity"},{"startTime":579.27,"endTime":582.524,"body":"systematic"},{"startTime":582.524,"endTime":585.778,"body":"strategies,"},{"startTime":585.778,"endTime":589.032,"body":"keeps"},{"startTime":589.032,"endTime":592.286,"body":"on"},{"startTime":592.286,"endTime":595.54,"body":"playing"},{"startTime":595.54,"endTime":598.794,"body":"out"},{"startTime":598.794,"endTime":602.048,"body":"quite"},{"startTime":602.048,"endTime":605.302,"body":"well."},{"startTime":605.302,"endTime":608.556,"body":"Like"},{"startTime":608.556,"endTime":611.81,"body":"now,"},{"startTime":611.81,"endTime":615.064,"body":"the"},{"startTime":615.064,"endTime":618.318,"body":"skewer"},{"startTime":618.318,"endTime":621.572,"body":"value"},{"startTime":621.572,"endTime":624.826,"body":"dynamics,"},{"startTime":624.826,"endTime":628.08,"body":"we"},{"startTime":628.08,"endTime":631.334,"body":"have"},{"startTime":631.334,"endTime":634.588,"body":"discussed"},{"startTime":634.588,"endTime":637.842,"body":"here,"},{"startTime":637.842,"endTime":641.096,"body":"have"},{"startTime":641.096,"endTime":644.35,"body":"been"},{"startTime":644.35,"endTime":647.604,"body":"benefiting"},{"startTime":647.604,"endTime":650.858,"body":"recently"},{"startTime":650.858,"endTime":654.112,"body":"because"},{"startTime":654.112,"endTime":657.366,"body":"they"},{"startTime":657.366,"endTime":660.62,"body":"are"},{"startTime":660.62,"endTime":663.874,"body":"benefiting"},{"startTime":663.874,"endTime":667.128,"body":"from"},{"startTime":667.128,"endTime":670.382,"body":"the"},{"startTime":670.382,"endTime":673.636,"body":"petroleum"},{"startTime":673.636,"endTime":676.89,"body":"sector."},{"startTime":514.19,"endTime":520.698,"body":"\rSo,in"},{"startTime":520.698,"endTime":523.952,"body":"a"},{"startTime":523.952,"endTime":527.206,"body":"way"},{"startTime":527.206,"endTime":530.46,"body":"strategy"},{"startTime":530.46,"endTime":533.714,"body":"level"},{"startTime":533.714,"endTime":536.968,"body":"details"},{"startTime":536.968,"endTime":540.222,"body":"and"},{"startTime":540.222,"endTime":543.476,"body":"nuances"},{"startTime":543.476,"endTime":546.73,"body":"are"},{"startTime":546.73,"endTime":549.984,"body":"always"},{"startTime":549.984,"endTime":553.238,"body":"open"},{"startTime":553.238,"endTime":556.492,"body":"to"},{"startTime":556.492,"endTime":559.746,"body":"question."},{"startTime":559.746,"endTime":563,"body":"The"},{"startTime":563,"endTime":566.254,"body":"benefits"},{"startTime":566.254,"endTime":569.508,"body":"of"},{"startTime":569.508,"endTime":572.762,"body":"the"},{"startTime":572.762,"endTime":576.016,"body":"diversification,"},{"startTime":576.016,"endTime":579.27,"body":"they"},{"startTime":579.27,"endTime":582.524,"body":"have"},{"startTime":582.524,"endTime":585.778,"body":"played"},{"startTime":585.778,"endTime":589.032,"body":"out"},{"startTime":589.032,"endTime":592.286,"body":"quite"},{"startTime":592.286,"endTime":595.54,"body":"nicely,"},{"startTime":595.54,"endTime":598.794,"body":"year"},{"startTime":598.794,"endTime":602.048,"body":"to"},{"startTime":602.048,"endTime":605.302,"body":"date,"},{"startTime":605.302,"endTime":608.556,"body":"at"},{"startTime":608.556,"endTime":611.81,"body":"least"},{"startTime":611.81,"endTime":615.064,"body":"from"},{"startTime":615.064,"endTime":618.318,"body":"a"},{"startTime":618.318,"endTime":621.572,"body":"QIS"},{"startTime":621.572,"endTime":624.826,"body":"or"},{"startTime":624.826,"endTime":628.08,"body":"systematic"},{"startTime":628.08,"endTime":631.334,"body":"standpoint."},{"startTime":631.334,"endTime":634.588,"body":"But"},{"startTime":634.588,"endTime":637.842,"body":"you're"},{"startTime":637.842,"endTime":641.096,"body":"very"},{"startTime":641.096,"endTime":644.35,"body":"right"},{"startTime":644.35,"endTime":647.604,"body":"on"},{"startTime":647.604,"endTime":650.858,"body":"the"},{"startTime":650.858,"endTime":654.112,"body":"volatility"},{"startTime":654.112,"endTime":657.366,"body":"dynamics."},{"startTime":657.366,"endTime":660.62,"body":"You're"},{"startTime":660.62,"endTime":663.874,"body":"very"},{"startTime":663.874,"endTime":667.128,"body":"right"},{"startTime":667.128,"endTime":670.382,"body":"on"},{"startTime":670.382,"endTime":673.636,"body":"this"},{"startTime":673.636,"endTime":676.89,"body":"one."},{"startTime":677.18,"endTime":678.8,"body":"Sure,"},{"startTime":678.8,"endTime":680.42,"body":"yeah,"},{"startTime":680.42,"endTime":682.04,"body":"super"},{"startTime":682.04,"endTime":683.66,"body":"interesting."},{"startTime":683.66,"endTime":685.28,"body":"I"},{"startTime":685.28,"endTime":686.9,"body":"mean,"},{"startTime":686.9,"endTime":688.52,"body":"I"},{"startTime":688.52,"endTime":690.14,"body":"think"},{"startTime":690.14,"endTime":691.76,"body":"Bloomberg"},{"startTime":691.76,"endTime":693.38,"body":"will"},{"startTime":693.38,"endTime":695,"body":"be"},{"startTime":695,"endTime":696.62,"body":"mentioned"},{"startTime":696.62,"endTime":698.24,"body":"quite"},{"startTime":698.24,"endTime":699.86,"body":"a"},{"startTime":699.86,"endTime":701.48,"body":"few"},{"startTime":701.48,"endTime":703.1,"body":"times,"},{"startTime":703.1,"endTime":704.72,"body":"on"},{"startTime":704.72,"endTime":706.34,"body":"my"},{"startTime":706.34,"endTime":707.96,"body":"radar"},{"startTime":707.96,"endTime":709.58,"body":"was"},{"startTime":709.58,"endTime":711.2,"body":"not"},{"startTime":711.2,"endTime":712.82,"body":"something"},{"startTime":712.82,"endTime":714.44,"body":"I"},{"startTime":714.44,"endTime":716.06,"body":"spent"},{"startTime":716.06,"endTime":717.68,"body":"a"},{"startTime":717.68,"endTime":719.3,"body":"lot"},{"startTime":719.3,"endTime":720.92,"body":"of"},{"startTime":720.92,"endTime":722.54,"body":"time"},{"startTime":722.54,"endTime":724.16,"body":"looking"},{"startTime":724.16,"endTime":725.78,"body":"at."},{"startTime":725.78,"endTime":727.4,"body":"It"},{"startTime":727.4,"endTime":729.02,"body":"was"},{"startTime":729.02,"endTime":730.64,"body":"just"},{"startTime":730.64,"endTime":732.26,"body":"an"},{"startTime":732.26,"endTime":733.88,"body":"interesting"},{"startTime":733.88,"endTime":735.5,"body":"headline"},{"startTime":735.5,"endTime":737.12,"body":"and"},{"startTime":737.12,"endTime":738.74,"body":"that"},{"startTime":738.74,"endTime":740.36,"body":"was"},{"startTime":740.36,"endTime":741.98,"body":"that"},{"startTime":741.98,"endTime":743.6,"body":"they"},{"startTime":743.6,"endTime":745.22,"body":"had"},{"startTime":745.22,"endTime":746.84,"body":"an"},{"startTime":746.84,"endTime":748.46,"body":"article"},{"startTime":748.46,"endTime":750.08,"body":"out,"},{"startTime":750.08,"endTime":751.7,"body":"today"},{"startTime":751.7,"endTime":753.32,"body":"or"},{"startTime":753.32,"endTime":754.94,"body":"yesterday,"},{"startTime":754.94,"endTime":756.56,"body":"about…"},{"startTime":756.56,"endTime":758.18,"body":"I"},{"startTime":758.18,"endTime":759.8,"body":"mean,"},{"startTime":759.8,"endTime":761.42,"body":"we"},{"startTime":761.42,"endTime":763.04,"body":"talk"},{"startTime":763.04,"endTime":764.66,"body":"a"},{"startTime":764.66,"endTime":766.28,"body":"lot,"},{"startTime":766.28,"endTime":767.9,"body":"at"},{"startTime":767.9,"endTime":769.52,"body":"least"},{"startTime":769.52,"endTime":771.14,"body":"we"},{"startTime":771.14,"endTime":772.76,"body":"refer"},{"startTime":772.76,"endTime":774.38,"body":"a"},{"startTime":774.38,"endTime":776,"body":"lot"},{"startTime":776,"endTime":777.62,"body":"to"},{"startTime":777.62,"endTime":779.24,"body":"these"},{"startTime":779.24,"endTime":780.86,"body":"pod"},{"startTime":780.86,"endTime":782.48,"body":"shops"},{"startTime":782.48,"endTime":784.1,"body":"and"},{"startTime":784.1,"endTime":785.72,"body":"the"},{"startTime":785.72,"endTime":787.34,"body":"success"},{"startTime":787.34,"endTime":788.96,"body":"they've"},{"startTime":788.96,"endTime":790.58,"body":"had"},{"startTime":790.58,"endTime":792.2,"body":"and"},{"startTime":792.2,"endTime":793.82,"body":"all"},{"startTime":793.82,"endTime":795.44,"body":"the"},{"startTime":795.44,"endTime":797.06,"body":"assets"},{"startTime":797.06,"endTime":798.68,"body":"they've"},{"startTime":798.68,"endTime":800.3,"body":"gathered."},{"startTime":800.3,"endTime":801.92,"body":"But"},{"startTime":801.92,"endTime":803.54,"body":"they"},{"startTime":803.54,"endTime":805.16,"body":"actually"},{"startTime":805.16,"endTime":806.78,"body":"had"},{"startTime":806.78,"endTime":808.4,"body":"an"},{"startTime":808.4,"endTime":810.02,"body":"article"},{"startTime":810.02,"endTime":811.64,"body":"out"},{"startTime":811.64,"endTime":813.26,"body":"talking"},{"startTime":813.26,"endTime":814.88,"body":"about"},{"startTime":814.88,"endTime":816.5,"body":"how"},{"startTime":816.5,"endTime":818.12,"body":"traders"},{"startTime":818.12,"endTime":819.74,"body":"are"},{"startTime":819.74,"endTime":821.36,"body":"now"},{"startTime":821.36,"endTime":822.98,"body":"ditching"},{"startTime":822.98,"endTime":824.6,"body":"these"},{"startTime":824.6,"endTime":826.22,"body":"pod"},{"startTime":826.22,"endTime":827.84,"body":"shops"},{"startTime":827.84,"endTime":829.46,"body":"and"},{"startTime":829.46,"endTime":831.08,"body":"much"},{"startTime":831.08,"endTime":832.7,"body":"prefer"},{"startTime":832.7,"endTime":834.32,"body":"to"},{"startTime":834.32,"endTime":835.94,"body":"go"},{"startTime":835.94,"endTime":837.56,"body":"their"},{"startTime":837.56,"endTime":839.18,"body":"own"},{"startTime":839.18,"endTime":840.8,"body":"way"},{"startTime":840.8,"endTime":842.42,"body":"instead."},{"startTime":677.18,"endTime":683.536,"body":"\rAndthey"},{"startTime":683.536,"endTime":686.714,"body":"have"},{"startTime":686.714,"endTime":689.892,"body":"numbers"},{"startTime":689.892,"endTime":693.07,"body":"for"},{"startTime":693.07,"endTime":696.248,"body":"‘23,"},{"startTime":696.248,"endTime":699.426,"body":"‘24"},{"startTime":699.426,"endTime":702.604,"body":"and"},{"startTime":702.604,"endTime":705.782,"body":"‘25."},{"startTime":705.782,"endTime":708.96,"body":"And"},{"startTime":708.96,"endTime":712.138,"body":"in"},{"startTime":712.138,"endTime":715.316,"body":"‘23,"},{"startTime":715.316,"endTime":718.494,"body":"according"},{"startTime":718.494,"endTime":721.672,"body":"to"},{"startTime":721.672,"endTime":724.85,"body":"their"},{"startTime":724.85,"endTime":728.028,"body":"numbers,"},{"startTime":728.028,"endTime":731.206,"body":"or"},{"startTime":731.206,"endTime":734.384,"body":"the"},{"startTime":734.384,"endTime":737.562,"body":"numbers"},{"startTime":737.562,"endTime":740.74,"body":"quoted"},{"startTime":740.74,"endTime":743.918,"body":"in"},{"startTime":743.918,"endTime":747.096,"body":"the"},{"startTime":747.096,"endTime":750.274,"body":"article,"},{"startTime":750.274,"endTime":753.452,"body":"9%"},{"startTime":753.452,"endTime":756.63,"body":"of"},{"startTime":756.63,"endTime":759.808,"body":"people"},{"startTime":759.808,"endTime":762.986,"body":"would"},{"startTime":762.986,"endTime":766.164,"body":"leave"},{"startTime":766.164,"endTime":769.342,"body":"and"},{"startTime":769.342,"endTime":772.52,"body":"set"},{"startTime":772.52,"endTime":775.698,"body":"up"},{"startTime":775.698,"endTime":778.876,"body":"their"},{"startTime":778.876,"endTime":782.054,"body":"own."},{"startTime":782.054,"endTime":785.232,"body":"In"},{"startTime":785.232,"endTime":788.41,"body":"‘24"},{"startTime":788.41,"endTime":791.588,"body":"it's"},{"startTime":791.588,"endTime":794.766,"body":"12%,"},{"startTime":794.766,"endTime":797.944,"body":"and"},{"startTime":797.944,"endTime":801.122,"body":"in"},{"startTime":801.122,"endTime":804.3,"body":"‘25"},{"startTime":804.3,"endTime":807.478,"body":"it"},{"startTime":807.478,"endTime":810.656,"body":"was"},{"startTime":810.656,"endTime":813.834,"body":"17%."},{"startTime":813.834,"endTime":817.012,"body":"So,"},{"startTime":817.012,"endTime":820.19,"body":"kind"},{"startTime":820.19,"endTime":823.368,"body":"of"},{"startTime":823.368,"endTime":826.546,"body":"an"},{"startTime":826.546,"endTime":829.724,"body":"interesting"},{"startTime":829.724,"endTime":832.902,"body":"little"},{"startTime":832.902,"endTime":836.08,"body":"take"},{"startTime":836.08,"endTime":839.258,"body":"on"},{"startTime":839.258,"endTime":842.436,"body":"that."},{"startTime":677.18,"endTime":681.708,"body":"\rAndalso,"},{"startTime":681.708,"endTime":683.972,"body":"I"},{"startTime":683.972,"endTime":686.236,"body":"think"},{"startTime":686.236,"endTime":688.5,"body":"they"},{"startTime":688.5,"endTime":690.764,"body":"have"},{"startTime":690.764,"endTime":693.028,"body":"some"},{"startTime":693.028,"endTime":695.292,"body":"numbers,"},{"startTime":695.292,"endTime":697.556,"body":"actually,"},{"startTime":697.556,"endTime":699.82,"body":"from"},{"startTime":699.82,"endTime":702.084,"body":"Goldman"},{"startTime":702.084,"endTime":704.348,"body":"Sachs."},{"startTime":704.348,"endTime":706.612,"body":"I"},{"startTime":706.612,"endTime":708.876,"body":"can"},{"startTime":708.876,"endTime":711.14,"body":"see"},{"startTime":711.14,"endTime":713.404,"body":"the"},{"startTime":713.404,"endTime":715.668,"body":"source"},{"startTime":715.668,"endTime":717.932,"body":"is"},{"startTime":717.932,"endTime":720.196,"body":"Goldman"},{"startTime":720.196,"endTime":722.46,"body":"Sachs."},{"startTime":722.46,"endTime":724.724,"body":"That"},{"startTime":724.724,"endTime":726.988,"body":"must"},{"startTime":726.988,"endTime":729.252,"body":"be"},{"startTime":729.252,"endTime":731.516,"body":"really,"},{"startTime":731.516,"endTime":733.78,"body":"really"},{"startTime":733.78,"endTime":736.044,"body":"good"},{"startTime":736.044,"endTime":738.308,"body":"reliable"},{"startTime":738.308,"endTime":740.572,"body":"data,"},{"startTime":740.572,"endTime":742.836,"body":"Nick,"},{"startTime":742.836,"endTime":745.1,"body":"I'm"},{"startTime":745.1,"endTime":747.364,"body":"sure"},{"startTime":747.364,"endTime":749.628,"body":"you"},{"startTime":749.628,"endTime":751.892,"body":"would"},{"startTime":751.892,"endTime":754.156,"body":"agree,"},{"startTime":754.156,"endTime":756.42,"body":"that"},{"startTime":756.42,"endTime":758.684,"body":"fewer"},{"startTime":758.684,"endTime":760.948,"body":"investors"},{"startTime":760.948,"endTime":763.212,"body":"are"},{"startTime":763.212,"endTime":765.476,"body":"actually"},{"startTime":765.476,"endTime":767.74,"body":"looking"},{"startTime":767.74,"endTime":770.004,"body":"to"},{"startTime":770.004,"endTime":772.268,"body":"invest"},{"startTime":772.268,"endTime":774.532,"body":"in"},{"startTime":774.532,"endTime":776.796,"body":"the"},{"startTime":776.796,"endTime":779.06,"body":"space"},{"startTime":779.06,"endTime":781.324,"body":"compared"},{"startTime":781.324,"endTime":783.588,"body":"to"},{"startTime":783.588,"endTime":785.852,"body":"before,"},{"startTime":785.852,"endTime":788.116,"body":"you"},{"startTime":788.116,"endTime":790.38,"body":"know,"},{"startTime":790.38,"endTime":792.644,"body":"and"},{"startTime":792.644,"endTime":794.908,"body":"a"},{"startTime":794.908,"endTime":797.172,"body":"few"},{"startTime":797.172,"endTime":799.436,"body":"more"},{"startTime":799.436,"endTime":801.7,"body":"expecting"},{"startTime":801.7,"endTime":803.964,"body":"to"},{"startTime":803.964,"endTime":806.228,"body":"actually"},{"startTime":806.228,"endTime":808.492,"body":"decrease"},{"startTime":808.492,"endTime":810.756,"body":"the"},{"startTime":810.756,"endTime":813.02,"body":"allocation"},{"startTime":813.02,"endTime":815.284,"body":"to"},{"startTime":815.284,"endTime":817.548,"body":"some"},{"startTime":817.548,"endTime":819.812,"body":"of"},{"startTime":819.812,"endTime":822.076,"body":"these"},{"startTime":822.076,"endTime":824.34,"body":"types"},{"startTime":824.34,"endTime":826.604,"body":"of"},{"startTime":826.604,"endTime":828.868,"body":"strategies."},{"startTime":828.868,"endTime":831.132,"body":"So,"},{"startTime":831.132,"endTime":833.396,"body":"just"},{"startTime":833.396,"endTime":835.66,"body":"a"},{"startTime":835.66,"endTime":837.924,"body":"little"},{"startTime":837.924,"endTime":840.188,"body":"fun"},{"startTime":840.188,"endTime":842.452,"body":"observation."},{"startTime":677.18,"endTime":680.42,"body":"\rTheother"},{"startTime":680.42,"endTime":682.04,"body":"thing"},{"startTime":682.04,"endTime":683.66,"body":"that"},{"startTime":683.66,"endTime":685.28,"body":"hit"},{"startTime":685.28,"endTime":686.9,"body":"my"},{"startTime":686.9,"endTime":688.52,"body":"sort"},{"startTime":688.52,"endTime":690.14,"body":"of"},{"startTime":690.14,"endTime":691.76,"body":"inbox"},{"startTime":691.76,"endTime":693.38,"body":"was"},{"startTime":693.38,"endTime":695,"body":"just,"},{"startTime":695,"endTime":696.62,"body":"obviously,"},{"startTime":696.62,"endTime":698.24,"body":"the"},{"startTime":698.24,"endTime":699.86,"body":"latest"},{"startTime":699.86,"endTime":701.48,"body":"FOMC"},{"startTime":701.48,"endTime":703.1,"body":"meeting"},{"startTime":703.1,"endTime":704.72,"body":"and"},{"startTime":704.72,"endTime":706.34,"body":"the"},{"startTime":706.34,"endTime":707.96,"body":"comments."},{"startTime":707.96,"endTime":709.58,"body":"It"},{"startTime":709.58,"endTime":711.2,"body":"was"},{"startTime":711.2,"endTime":712.82,"body":"interesting"},{"startTime":712.82,"endTime":714.44,"body":"that"},{"startTime":714.44,"endTime":716.06,"body":"Fed"},{"startTime":716.06,"endTime":717.68,"body":"Chair"},{"startTime":717.68,"endTime":719.3,"body":"Powell"},{"startTime":719.3,"endTime":720.92,"body":"kind"},{"startTime":720.92,"endTime":722.54,"body":"of"},{"startTime":722.54,"endTime":724.16,"body":"does"},{"startTime":724.16,"endTime":725.78,"body":"not"},{"startTime":725.78,"endTime":727.4,"body":"really"},{"startTime":727.4,"endTime":729.02,"body":"think"},{"startTime":729.02,"endTime":730.64,"body":"we're"},{"startTime":730.64,"endTime":732.26,"body":"in"},{"startTime":732.26,"endTime":733.88,"body":"a"},{"startTime":733.88,"endTime":735.5,"body":"stagflationary"},{"startTime":735.5,"endTime":737.12,"body":"environment"},{"startTime":737.12,"endTime":738.74,"body":"just"},{"startTime":738.74,"endTime":740.36,"body":"yet."},{"startTime":740.36,"endTime":741.98,"body":"I"},{"startTime":741.98,"endTime":743.6,"body":"think"},{"startTime":743.6,"endTime":745.22,"body":"he"},{"startTime":745.22,"endTime":746.84,"body":"made"},{"startTime":746.84,"endTime":748.46,"body":"the"},{"startTime":748.46,"endTime":750.08,"body":"distinction"},{"startTime":750.08,"endTime":751.7,"body":"that"},{"startTime":751.7,"endTime":753.32,"body":"when"},{"startTime":753.32,"endTime":754.94,"body":"the"},{"startTime":754.94,"endTime":756.56,"body":"term"},{"startTime":756.56,"endTime":758.18,"body":"was"},{"startTime":758.18,"endTime":759.8,"body":"invented,"},{"startTime":759.8,"endTime":761.42,"body":"or"},{"startTime":761.42,"endTime":763.04,"body":"coined,"},{"startTime":763.04,"endTime":764.66,"body":"back"},{"startTime":764.66,"endTime":766.28,"body":"in"},{"startTime":766.28,"endTime":767.9,"body":"the"},{"startTime":767.9,"endTime":769.52,"body":"1970s,"},{"startTime":769.52,"endTime":771.14,"body":"the"},{"startTime":771.14,"endTime":772.76,"body":"difference"},{"startTime":772.76,"endTime":774.38,"body":"was"},{"startTime":774.38,"endTime":776,"body":"really"},{"startTime":776,"endTime":777.62,"body":"that"},{"startTime":777.62,"endTime":779.24,"body":"we"},{"startTime":779.24,"endTime":780.86,"body":"also"},{"startTime":780.86,"endTime":782.48,"body":"had"},{"startTime":782.48,"endTime":784.1,"body":"very"},{"startTime":784.1,"endTime":785.72,"body":"high"},{"startTime":785.72,"endTime":787.34,"body":"unemployment."},{"startTime":787.34,"endTime":788.96,"body":"And"},{"startTime":788.96,"endTime":790.58,"body":"I"},{"startTime":790.58,"endTime":792.2,"body":"think,"},{"startTime":792.2,"endTime":793.82,"body":"for"},{"startTime":793.82,"endTime":795.44,"body":"him,"},{"startTime":795.44,"endTime":797.06,"body":"maybe"},{"startTime":797.06,"endTime":798.68,"body":"that"},{"startTime":798.68,"endTime":800.3,"body":"plays"},{"startTime":800.3,"endTime":801.92,"body":"a"},{"startTime":801.92,"endTime":803.54,"body":"role,"},{"startTime":803.54,"endTime":805.16,"body":"that"},{"startTime":805.16,"endTime":806.78,"body":"we're"},{"startTime":806.78,"endTime":808.4,"body":"not"},{"startTime":808.4,"endTime":810.02,"body":"quite"},{"startTime":810.02,"endTime":811.64,"body":"in"},{"startTime":811.64,"endTime":813.26,"body":"the"},{"startTime":813.26,"endTime":814.88,"body":"same"},{"startTime":814.88,"endTime":816.5,"body":"scenario."},{"startTime":816.5,"endTime":818.12,"body":"But"},{"startTime":818.12,"endTime":819.74,"body":"at"},{"startTime":819.74,"endTime":821.36,"body":"least"},{"startTime":821.36,"endTime":822.98,"body":"they're"},{"startTime":822.98,"endTime":824.6,"body":"talking"},{"startTime":824.6,"endTime":826.22,"body":"about"},{"startTime":826.22,"endTime":827.84,"body":"the"},{"startTime":827.84,"endTime":829.46,"body":"word"},{"startTime":829.46,"endTime":831.08,"body":"stagflation"},{"startTime":831.08,"endTime":832.7,"body":"even"},{"startTime":832.7,"endTime":834.32,"body":"from"},{"startTime":834.32,"endTime":835.94,"body":"central"},{"startTime":835.94,"endTime":837.56,"body":"bank's"},{"startTime":837.56,"endTime":839.18,"body":"point"},{"startTime":839.18,"endTime":840.8,"body":"of"},{"startTime":840.8,"endTime":842.42,"body":"view."},{"startTime":677.18,"endTime":681.418,"body":"\rSo,on"},{"startTime":681.418,"endTime":683.537,"body":"that"},{"startTime":683.537,"endTime":685.656,"body":"note,"},{"startTime":685.656,"endTime":687.775,"body":"I"},{"startTime":687.775,"endTime":689.894,"body":"mean,"},{"startTime":689.894,"endTime":692.013,"body":"interest"},{"startTime":692.013,"endTime":694.132,"body":"rates"},{"startTime":694.132,"endTime":696.251,"body":"have"},{"startTime":696.251,"endTime":698.37,"body":"been"},{"startTime":698.37,"endTime":700.489,"body":"moving"},{"startTime":700.489,"endTime":702.608,"body":"higher"},{"startTime":702.608,"endTime":704.727,"body":"in"},{"startTime":704.727,"endTime":706.846,"body":"the"},{"startTime":706.846,"endTime":708.965,"body":"last"},{"startTime":708.965,"endTime":711.084,"body":"few"},{"startTime":711.084,"endTime":713.203,"body":"days,"},{"startTime":713.203,"endTime":715.322,"body":"the"},{"startTime":715.322,"endTime":717.441,"body":"last"},{"startTime":717.441,"endTime":719.56,"body":"few"},{"startTime":719.56,"endTime":721.679,"body":"weeks."},{"startTime":721.679,"endTime":723.798,"body":"And"},{"startTime":723.798,"endTime":725.917,"body":"maybe"},{"startTime":725.917,"endTime":728.036,"body":"some"},{"startTime":728.036,"endTime":730.155,"body":"of"},{"startTime":730.155,"endTime":732.274,"body":"the"},{"startTime":732.274,"endTime":734.393,"body":"things"},{"startTime":734.393,"endTime":736.512,"body":"we've"},{"startTime":736.512,"endTime":738.631,"body":"talked"},{"startTime":738.631,"endTime":740.75,"body":"about"},{"startTime":740.75,"endTime":742.869,"body":"on"},{"startTime":742.869,"endTime":744.988,"body":"the"},{"startTime":744.988,"endTime":747.107,"body":"podcast,"},{"startTime":747.107,"endTime":749.226,"body":"not"},{"startTime":749.226,"endTime":751.345,"body":"least"},{"startTime":751.345,"endTime":753.464,"body":"people"},{"startTime":753.464,"endTime":755.583,"body":"like"},{"startTime":755.583,"endTime":757.702,"body":"Cem,"},{"startTime":757.702,"endTime":759.821,"body":"and"},{"startTime":759.821,"endTime":761.94,"body":"others,"},{"startTime":761.94,"endTime":764.059,"body":"in"},{"startTime":764.059,"endTime":766.178,"body":"terms"},{"startTime":766.178,"endTime":768.297,"body":"of"},{"startTime":768.297,"endTime":770.416,"body":"perhaps"},{"startTime":770.416,"endTime":772.535,"body":"the"},{"startTime":772.535,"endTime":774.654,"body":"wishes"},{"startTime":774.654,"endTime":776.773,"body":"of"},{"startTime":776.773,"endTime":778.892,"body":"the"},{"startTime":778.892,"endTime":781.011,"body":"White"},{"startTime":781.011,"endTime":783.13,"body":"House,"},{"startTime":783.13,"endTime":785.249,"body":"in"},{"startTime":785.249,"endTime":787.368,"body":"terms"},{"startTime":787.368,"endTime":789.487,"body":"of"},{"startTime":789.487,"endTime":791.606,"body":"low"},{"startTime":791.606,"endTime":793.725,"body":"interest"},{"startTime":793.725,"endTime":795.844,"body":"rate,"},{"startTime":795.844,"endTime":797.963,"body":"is"},{"startTime":797.963,"endTime":800.082,"body":"not"},{"startTime":800.082,"endTime":802.201,"body":"what"},{"startTime":802.201,"endTime":804.32,"body":"we're"},{"startTime":804.32,"endTime":806.439,"body":"going"},{"startTime":806.439,"endTime":808.558,"body":"to"},{"startTime":808.558,"endTime":810.677,"body":"see."},{"startTime":810.677,"endTime":812.796,"body":"We're"},{"startTime":812.796,"endTime":814.915,"body":"going"},{"startTime":814.915,"endTime":817.034,"body":"to"},{"startTime":817.034,"endTime":819.153,"body":"end"},{"startTime":819.153,"endTime":821.272,"body":"up"},{"startTime":821.272,"endTime":823.391,"body":"seeing"},{"startTime":823.391,"endTime":825.51,"body":"the"},{"startTime":825.51,"endTime":827.629,"body":"opposite."},{"startTime":827.629,"endTime":829.748,"body":"That"},{"startTime":829.748,"endTime":831.867,"body":"may"},{"startTime":831.867,"endTime":833.986,"body":"well"},{"startTime":833.986,"endTime":836.105,"body":"play"},{"startTime":836.105,"endTime":838.224,"body":"out"},{"startTime":838.224,"endTime":840.343,"body":"that"},{"startTime":840.343,"endTime":842.462,"body":"way."},{"startTime":843.03,"endTime":844.156,"body":"I"},{"startTime":844.156,"endTime":845.282,"body":"mean,"},{"startTime":845.282,"endTime":846.408,"body":"I"},{"startTime":846.408,"endTime":847.534,"body":"would"},{"startTime":847.534,"endTime":848.66,"body":"not"},{"startTime":848.66,"endTime":849.786,"body":"disagree."},{"startTime":849.786,"endTime":850.912,"body":"Some"},{"startTime":850.912,"endTime":852.038,"body":"of"},{"startTime":852.038,"endTime":853.164,"body":"the"},{"startTime":853.164,"endTime":854.29,"body":"discussions"},{"startTime":854.29,"endTime":855.416,"body":"we're"},{"startTime":855.416,"endTime":856.542,"body":"having"},{"startTime":856.542,"endTime":857.668,"body":"at"},{"startTime":857.668,"endTime":858.794,"body":"the"},{"startTime":858.794,"endTime":859.92,"body":"moment,"},{"startTime":859.92,"endTime":861.046,"body":"and"},{"startTime":861.046,"endTime":862.172,"body":"I"},{"startTime":862.172,"endTime":863.298,"body":"personally"},{"startTime":863.298,"endTime":864.424,"body":"have"},{"startTime":864.424,"endTime":865.55,"body":"had"},{"startTime":865.55,"endTime":866.676,"body":"with"},{"startTime":866.676,"endTime":867.802,"body":"our"},{"startTime":867.802,"endTime":868.928,"body":"colleagues"},{"startTime":868.928,"endTime":870.054,"body":"in"},{"startTime":870.054,"endTime":871.18,"body":"the"},{"startTime":871.18,"endTime":872.306,"body":"research,"},{"startTime":872.306,"endTime":873.432,"body":"as"},{"startTime":873.432,"endTime":874.558,"body":"well"},{"startTime":874.558,"endTime":875.684,"body":"as"},{"startTime":875.684,"endTime":876.81,"body":"with"},{"startTime":876.81,"endTime":877.936,"body":"investors."},{"startTime":877.936,"endTime":879.062,"body":"The"},{"startTime":879.062,"endTime":880.188,"body":"year,"},{"startTime":880.188,"endTime":881.314,"body":"as"},{"startTime":881.314,"endTime":882.44,"body":"we"},{"startTime":882.44,"endTime":883.566,"body":"said"},{"startTime":883.566,"endTime":884.692,"body":"10"},{"startTime":884.692,"endTime":885.818,"body":"minutes"},{"startTime":885.818,"endTime":886.944,"body":"ago"},{"startTime":886.944,"endTime":888.07,"body":"when"},{"startTime":888.07,"endTime":889.196,"body":"we"},{"startTime":889.196,"endTime":890.322,"body":"started,"},{"startTime":890.322,"endTime":891.448,"body":"was"},{"startTime":891.448,"endTime":892.574,"body":"very,"},{"startTime":892.574,"endTime":893.7,"body":"I"},{"startTime":893.7,"endTime":894.826,"body":"guess,"},{"startTime":894.826,"endTime":895.952,"body":"bullish"},{"startTime":895.952,"endTime":897.078,"body":"in"},{"startTime":897.078,"endTime":898.204,"body":"the"},{"startTime":898.204,"endTime":899.33,"body":"sentiment"},{"startTime":899.33,"endTime":900.456,"body":"and"},{"startTime":900.456,"endTime":901.582,"body":"it's"},{"startTime":901.582,"endTime":902.708,"body":"now"},{"startTime":902.708,"endTime":903.834,"body":"kind"},{"startTime":903.834,"endTime":904.96,"body":"of"},{"startTime":904.96,"endTime":906.086,"body":"turning"},{"startTime":906.086,"endTime":907.212,"body":"around."},{"startTime":907.212,"endTime":908.338,"body":"I"},{"startTime":908.338,"endTime":909.464,"body":"don't"},{"startTime":909.464,"endTime":910.59,"body":"think"},{"startTime":910.59,"endTime":911.716,"body":"it's"},{"startTime":911.716,"endTime":912.842,"body":"yet"},{"startTime":912.842,"endTime":913.968,"body":"in"},{"startTime":913.968,"endTime":915.094,"body":"a"},{"startTime":915.094,"endTime":916.22,"body":"place"},{"startTime":916.22,"endTime":917.346,"body":"whereby"},{"startTime":917.346,"endTime":918.472,"body":"we"},{"startTime":918.472,"endTime":919.598,"body":"feel"},{"startTime":919.598,"endTime":920.724,"body":"that"},{"startTime":920.724,"endTime":921.85,"body":"kind"},{"startTime":921.85,"endTime":922.976,"body":"of"},{"startTime":922.976,"endTime":924.102,"body":"a"},{"startTime":924.102,"endTime":925.228,"body":"down"},{"startTime":925.228,"endTime":926.354,"body":"market"},{"startTime":926.354,"endTime":927.48,"body":"or"},{"startTime":927.48,"endTime":928.606,"body":"an"},{"startTime":928.606,"endTime":929.732,"body":"aggressive"},{"startTime":929.732,"endTime":930.858,"body":"down"},{"startTime":930.858,"endTime":931.984,"body":"market"},{"startTime":931.984,"endTime":933.11,"body":"is"},{"startTime":933.11,"endTime":934.236,"body":"coming."},{"startTime":843.03,"endTime":845.462,"body":"\rButto"},{"startTime":845.462,"endTime":846.678,"body":"your"},{"startTime":846.678,"endTime":847.894,"body":"point,"},{"startTime":847.894,"endTime":849.11,"body":"I"},{"startTime":849.11,"endTime":850.326,"body":"think"},{"startTime":850.326,"endTime":851.542,"body":"memories"},{"startTime":851.542,"endTime":852.758,"body":"of"},{"startTime":852.758,"endTime":853.974,"body":"2022"},{"startTime":853.974,"endTime":855.19,"body":"are"},{"startTime":855.19,"endTime":856.406,"body":"coming"},{"startTime":856.406,"endTime":857.622,"body":"back."},{"startTime":857.622,"endTime":858.838,"body":"I"},{"startTime":858.838,"endTime":860.054,"body":"think"},{"startTime":860.054,"endTime":861.27,"body":"the"},{"startTime":861.27,"endTime":862.486,"body":"discussion"},{"startTime":862.486,"endTime":863.702,"body":"around"},{"startTime":863.702,"endTime":864.918,"body":"trend"},{"startTime":864.918,"endTime":866.134,"body":"following"},{"startTime":866.134,"endTime":867.35,"body":"is"},{"startTime":867.35,"endTime":868.566,"body":"here,"},{"startTime":868.566,"endTime":869.782,"body":"the"},{"startTime":869.782,"endTime":870.998,"body":"discussion,"},{"startTime":870.998,"endTime":872.214,"body":"you"},{"startTime":872.214,"endTime":873.43,"body":"just"},{"startTime":873.43,"endTime":874.646,"body":"said"},{"startTime":874.646,"endTime":875.862,"body":"it"},{"startTime":875.862,"endTime":877.078,"body":"about"},{"startTime":877.078,"endTime":878.294,"body":"volatility"},{"startTime":878.294,"endTime":879.51,"body":"in"},{"startTime":879.51,"endTime":880.726,"body":"the"},{"startTime":880.726,"endTime":881.942,"body":"interest"},{"startTime":881.942,"endTime":883.158,"body":"rate"},{"startTime":883.158,"endTime":884.374,"body":"market,"},{"startTime":884.374,"endTime":885.59,"body":"inflation,"},{"startTime":885.59,"endTime":886.806,"body":"volatility,"},{"startTime":886.806,"endTime":888.022,"body":"is"},{"startTime":888.022,"endTime":889.238,"body":"back."},{"startTime":889.238,"endTime":890.454,"body":"The"},{"startTime":890.454,"endTime":891.67,"body":"question"},{"startTime":891.67,"endTime":892.886,"body":"as"},{"startTime":892.886,"endTime":894.102,"body":"to"},{"startTime":894.102,"endTime":895.318,"body":"how"},{"startTime":895.318,"endTime":896.534,"body":"central"},{"startTime":896.534,"endTime":897.75,"body":"banks"},{"startTime":897.75,"endTime":898.966,"body":"will"},{"startTime":898.966,"endTime":900.182,"body":"act"},{"startTime":900.182,"endTime":901.398,"body":"or"},{"startTime":901.398,"endTime":902.614,"body":"react"},{"startTime":902.614,"endTime":903.83,"body":"to"},{"startTime":903.83,"endTime":905.046,"body":"the"},{"startTime":905.046,"endTime":906.262,"body":"current"},{"startTime":906.262,"endTime":907.478,"body":"situation"},{"startTime":907.478,"endTime":908.694,"body":"is"},{"startTime":908.694,"endTime":909.91,"body":"here."},{"startTime":909.91,"endTime":911.126,"body":"Obviously,"},{"startTime":911.126,"endTime":912.342,"body":"some"},{"startTime":912.342,"endTime":913.558,"body":"of"},{"startTime":913.558,"endTime":914.774,"body":"that"},{"startTime":914.774,"endTime":915.99,"body":"is"},{"startTime":915.99,"endTime":917.206,"body":"quite"},{"startTime":917.206,"endTime":918.422,"body":"mechanical"},{"startTime":918.422,"endTime":919.638,"body":"with"},{"startTime":919.638,"endTime":920.854,"body":"the"},{"startTime":920.854,"endTime":922.07,"body":"oil"},{"startTime":922.07,"endTime":923.286,"body":"moves"},{"startTime":923.286,"endTime":924.502,"body":"that"},{"startTime":924.502,"endTime":925.718,"body":"fit"},{"startTime":925.718,"endTime":926.934,"body":"into,"},{"startTime":926.934,"endTime":928.15,"body":"I"},{"startTime":928.15,"endTime":929.366,"body":"guess,"},{"startTime":929.366,"endTime":930.582,"body":"a"},{"startTime":930.582,"endTime":931.798,"body":"forecast"},{"startTime":931.798,"endTime":933.014,"body":"of"},{"startTime":933.014,"endTime":934.23,"body":"inflation."},{"startTime":843.03,"endTime":934.27,"body":"\r"},{"startTime":843.03,"endTime":847.59,"body":"Iguessthe"},{"startTime":847.59,"endTime":849.11,"body":"bigger"},{"startTime":849.11,"endTime":850.63,"body":"question,"},{"startTime":850.63,"endTime":852.15,"body":"certainly,"},{"startTime":852.15,"endTime":853.67,"body":"I"},{"startTime":853.67,"endTime":855.19,"body":"don't"},{"startTime":855.19,"endTime":856.71,"body":"have"},{"startTime":856.71,"endTime":858.23,"body":"an"},{"startTime":858.23,"endTime":859.75,"body":"answer"},{"startTime":859.75,"endTime":861.27,"body":"for,"},{"startTime":861.27,"endTime":862.79,"body":"is"},{"startTime":862.79,"endTime":864.31,"body":"how"},{"startTime":864.31,"endTime":865.83,"body":"much"},{"startTime":865.83,"endTime":867.35,"body":"of"},{"startTime":867.35,"endTime":868.87,"body":"an"},{"startTime":868.87,"endTime":870.39,"body":"escalation"},{"startTime":870.39,"endTime":871.91,"body":"we"},{"startTime":871.91,"endTime":873.43,"body":"see"},{"startTime":873.43,"endTime":874.95,"body":"and"},{"startTime":874.95,"endTime":876.47,"body":"how"},{"startTime":876.47,"endTime":877.99,"body":"much"},{"startTime":877.99,"endTime":879.51,"body":"of"},{"startTime":879.51,"endTime":881.03,"body":"that"},{"startTime":881.03,"endTime":882.55,"body":"oil"},{"startTime":882.55,"endTime":884.07,"body":"shock"},{"startTime":884.07,"endTime":885.59,"body":"is"},{"startTime":885.59,"endTime":887.11,"body":"permanent"},{"startTime":887.11,"endTime":888.63,"body":"or"},{"startTime":888.63,"endTime":890.15,"body":"about"},{"startTime":890.15,"endTime":891.67,"body":"to"},{"startTime":891.67,"endTime":893.19,"body":"be"},{"startTime":893.19,"endTime":894.71,"body":"subdued."},{"startTime":894.71,"endTime":896.23,"body":"Historically,"},{"startTime":896.23,"endTime":897.75,"body":"those"},{"startTime":897.75,"endTime":899.27,"body":"events"},{"startTime":899.27,"endTime":900.79,"body":"take"},{"startTime":900.79,"endTime":902.31,"body":"some"},{"startTime":902.31,"endTime":903.83,"body":"time"},{"startTime":903.83,"endTime":905.35,"body":"before"},{"startTime":905.35,"endTime":906.87,"body":"they"},{"startTime":906.87,"endTime":908.39,"body":"die"},{"startTime":908.39,"endTime":909.91,"body":"out."},{"startTime":909.91,"endTime":911.43,"body":"Eventually"},{"startTime":911.43,"endTime":912.95,"body":"they"},{"startTime":912.95,"endTime":914.47,"body":"do,"},{"startTime":914.47,"endTime":915.99,"body":"but"},{"startTime":915.99,"endTime":917.51,"body":"I"},{"startTime":917.51,"endTime":919.03,"body":"think"},{"startTime":919.03,"endTime":920.55,"body":"that's"},{"startTime":920.55,"endTime":922.07,"body":"the"},{"startTime":922.07,"endTime":923.59,"body":"biggest"},{"startTime":923.59,"endTime":925.11,"body":"kind"},{"startTime":925.11,"endTime":926.63,"body":"of"},{"startTime":926.63,"endTime":928.15,"body":"question"},{"startTime":928.15,"endTime":929.67,"body":"mark"},{"startTime":929.67,"endTime":931.19,"body":"at"},{"startTime":931.19,"endTime":932.71,"body":"the"},{"startTime":932.71,"endTime":934.23,"body":"moment."},{"startTime":843.03,"endTime":851.324,"body":"\rButto"},{"startTime":851.324,"endTime":855.471,"body":"conclude,"},{"startTime":855.471,"endTime":859.618,"body":"I"},{"startTime":859.618,"endTime":863.765,"body":"think"},{"startTime":863.765,"endTime":867.912,"body":"the"},{"startTime":867.912,"endTime":872.059,"body":"stagflation,"},{"startTime":872.059,"endTime":876.206,"body":"maybe"},{"startTime":876.206,"endTime":880.353,"body":"the"},{"startTime":880.353,"endTime":884.5,"body":"stagflation"},{"startTime":884.5,"endTime":888.647,"body":"risk"},{"startTime":888.647,"endTime":892.794,"body":"is"},{"startTime":892.794,"endTime":896.941,"body":"probably"},{"startTime":896.941,"endTime":901.088,"body":"elevated"},{"startTime":901.088,"endTime":905.235,"body":"vis"},{"startTime":905.235,"endTime":909.382,"body":"a"},{"startTime":909.382,"endTime":913.529,"body":"vis"},{"startTime":913.529,"endTime":917.676,"body":"kind"},{"startTime":917.676,"endTime":921.823,"body":"of"},{"startTime":921.823,"endTime":925.97,"body":"two"},{"startTime":925.97,"endTime":930.117,"body":"months"},{"startTime":930.117,"endTime":934.264,"body":"ago."},{"startTime":935.341,"endTime":937.197,"body":"You"},{"startTime":937.197,"endTime":939.053,"body":"know"},{"startTime":939.053,"endTime":940.909,"body":"what?"},{"startTime":940.909,"endTime":942.765,"body":"There"},{"startTime":942.765,"endTime":944.621,"body":"was"},{"startTime":944.621,"endTime":946.477,"body":"also,"},{"startTime":946.477,"endTime":948.333,"body":"and"},{"startTime":948.333,"endTime":950.189,"body":"obviously"},{"startTime":950.189,"endTime":952.045,"body":"I'm"},{"startTime":952.045,"endTime":953.901,"body":"not"},{"startTime":953.901,"endTime":955.757,"body":"trying"},{"startTime":955.757,"endTime":957.613,"body":"to"},{"startTime":957.613,"endTime":959.469,"body":"make"},{"startTime":959.469,"endTime":961.325,"body":"any"},{"startTime":961.325,"endTime":963.181,"body":"forecast"},{"startTime":963.181,"endTime":965.037,"body":"or"},{"startTime":965.037,"endTime":966.893,"body":"political"},{"startTime":966.893,"endTime":968.749,"body":"statement"},{"startTime":968.749,"endTime":970.605,"body":"or"},{"startTime":970.605,"endTime":972.461,"body":"any"},{"startTime":972.461,"endTime":974.317,"body":"other"},{"startTime":974.317,"endTime":976.173,"body":"kind"},{"startTime":976.173,"endTime":978.029,"body":"of"},{"startTime":978.029,"endTime":979.885,"body":"statement,"},{"startTime":979.885,"endTime":981.741,"body":"but"},{"startTime":981.741,"endTime":983.597,"body":"just"},{"startTime":983.597,"endTime":985.453,"body":"an"},{"startTime":985.453,"endTime":987.309,"body":"observation"},{"startTime":987.309,"endTime":989.165,"body":"(we’re"},{"startTime":989.165,"endTime":991.021,"body":"both"},{"startTime":991.021,"endTime":992.877,"body":"becoming"},{"startTime":992.877,"endTime":994.733,"body":"very"},{"startTime":994.733,"endTime":996.589,"body":"neutral"},{"startTime":996.589,"endTime":998.445,"body":"here),"},{"startTime":998.445,"endTime":1000.301,"body":"but,"},{"startTime":1000.301,"endTime":1002.157,"body":"at"},{"startTime":1002.157,"endTime":1004.013,"body":"least"},{"startTime":1004.013,"endTime":1005.869,"body":"as"},{"startTime":1005.869,"endTime":1007.725,"body":"a"},{"startTime":1007.725,"endTime":1009.581,"body":"Swiss"},{"startTime":1009.581,"endTime":1011.437,"body":"person,"},{"startTime":1011.437,"endTime":1013.293,"body":"I"},{"startTime":1013.293,"endTime":1015.149,"body":"am"},{"startTime":1015.149,"endTime":1017.005,"body":"generally"},{"startTime":1017.005,"endTime":1018.861,"body":"quite"},{"startTime":1018.861,"endTime":1020.717,"body":"neutral,"},{"startTime":1020.717,"endTime":1022.573,"body":"as"},{"startTime":1022.573,"endTime":1024.429,"body":"people"},{"startTime":1024.429,"endTime":1026.285,"body":"would"},{"startTime":1025.214,"endTime":1028.141,"body":"know."},{"startTime":1028.141,"endTime":1029.997,"body":"But"},{"startTime":1029.997,"endTime":1031.853,"body":"anyways,"},{"startTime":1031.853,"endTime":1033.709,"body":"joking"},{"startTime":1033.709,"endTime":1035.565,"body":"aside,"},{"startTime":1035.565,"endTime":1037.421,"body":"you"},{"startTime":1037.421,"endTime":1039.277,"body":"know,"},{"startTime":1039.277,"endTime":1041.133,"body":"there's"},{"startTime":1041.133,"endTime":1042.989,"body":"one"},{"startTime":1042.989,"endTime":1044.845,"body":"thing"},{"startTime":1044.845,"endTime":1046.701,"body":"I"},{"startTime":1046.701,"endTime":1048.557,"body":"thought"},{"startTime":1048.557,"endTime":1050.413,"body":"about,"},{"startTime":1050.413,"endTime":1052.269,"body":"we"},{"startTime":1052.269,"endTime":1054.125,"body":"talk"},{"startTime":1054.125,"endTime":1055.981,"body":"about,"},{"startTime":1055.981,"endTime":1057.837,"body":"oh"},{"startTime":1057.837,"endTime":1059.693,"body":"yeah,"},{"startTime":1059.693,"endTime":1061.549,"body":"you"},{"startTime":1061.549,"endTime":1063.405,"body":"know,"},{"startTime":1063.405,"endTime":1065.261,"body":"the"},{"startTime":1065.261,"endTime":1067.117,"body":"war"},{"startTime":1067.117,"endTime":1068.973,"body":"can"},{"startTime":1068.973,"endTime":1070.829,"body":"stop"},{"startTime":1070.829,"endTime":1072.685,"body":"any"},{"startTime":1072.685,"endTime":1074.541,"body":"moment,"},{"startTime":1074.541,"endTime":1076.397,"body":"and"},{"startTime":1076.397,"endTime":1078.253,"body":"things"},{"startTime":1078.253,"endTime":1080.109,"body":"will"},{"startTime":1080.109,"endTime":1081.965,"body":"go"},{"startTime":1081.965,"endTime":1083.821,"body":"back"},{"startTime":1083.821,"endTime":1085.677,"body":"to"},{"startTime":1085.677,"endTime":1087.533,"body":"normal."},{"startTime":935.341,"endTime":939.511,"body":"\rButI"},{"startTime":939.511,"endTime":941.596,"body":"was"},{"startTime":941.596,"endTime":943.681,"body":"thinking"},{"startTime":943.681,"endTime":945.766,"body":"about"},{"startTime":945.766,"endTime":947.851,"body":"this,"},{"startTime":947.851,"endTime":949.936,"body":"people"},{"startTime":949.936,"endTime":952.021,"body":"who,"},{"startTime":952.021,"endTime":954.106,"body":"if"},{"startTime":954.106,"endTime":956.191,"body":"you"},{"startTime":956.191,"endTime":958.276,"body":"think"},{"startTime":958.276,"endTime":960.361,"body":"about"},{"startTime":960.361,"endTime":962.446,"body":"the"},{"startTime":962.446,"endTime":964.531,"body":"Gulf"},{"startTime":964.531,"endTime":966.616,"body":"states,"},{"startTime":966.616,"endTime":968.701,"body":"yes,"},{"startTime":968.701,"endTime":970.786,"body":"for"},{"startTime":970.786,"endTime":972.871,"body":"a"},{"startTime":972.871,"endTime":974.956,"body":"lot"},{"startTime":974.956,"endTime":977.041,"body":"of"},{"startTime":977.041,"endTime":979.126,"body":"them,"},{"startTime":979.126,"endTime":981.211,"body":"you"},{"startTime":981.211,"endTime":983.296,"body":"know,"},{"startTime":983.296,"endTime":985.381,"body":"oil"},{"startTime":985.381,"endTime":987.466,"body":"is"},{"startTime":987.466,"endTime":989.551,"body":"so"},{"startTime":989.551,"endTime":991.636,"body":"important."},{"startTime":991.636,"endTime":993.721,"body":"But"},{"startTime":993.721,"endTime":995.806,"body":"in"},{"startTime":995.806,"endTime":997.891,"body":"the"},{"startTime":997.891,"endTime":999.976,"body":"last"},{"startTime":999.976,"endTime":1002.061,"body":"two"},{"startTime":1002.061,"endTime":1004.146,"body":"or"},{"startTime":1004.146,"endTime":1006.231,"body":"three"},{"startTime":1006.231,"endTime":1008.316,"body":"decades,"},{"startTime":1008.316,"endTime":1010.401,"body":"what"},{"startTime":1010.401,"endTime":1012.486,"body":"has"},{"startTime":1012.486,"endTime":1014.571,"body":"also"},{"startTime":1014.571,"endTime":1016.656,"body":"become"},{"startTime":1016.656,"endTime":1018.741,"body":"super"},{"startTime":1018.741,"endTime":1020.826,"body":"important"},{"startTime":1020.826,"endTime":1022.911,"body":"to"},{"startTime":1022.911,"endTime":1024.996,"body":"them"},{"startTime":1023.925,"endTime":1027.081,"body":"is"},{"startTime":1027.081,"endTime":1029.166,"body":"tourism."},{"startTime":1029.166,"endTime":1031.251,"body":"And"},{"startTime":1031.251,"endTime":1033.336,"body":"I"},{"startTime":1033.336,"endTime":1035.421,"body":"just"},{"startTime":1035.421,"endTime":1037.506,"body":"wonder,"},{"startTime":1037.506,"endTime":1039.591,"body":"I"},{"startTime":1039.591,"endTime":1041.676,"body":"mean,"},{"startTime":1041.676,"endTime":1043.761,"body":"are"},{"startTime":1043.761,"endTime":1045.846,"body":"you"},{"startTime":1045.846,"endTime":1047.931,"body":"likely"},{"startTime":1047.931,"endTime":1050.016,"body":"to"},{"startTime":1050.016,"endTime":1052.101,"body":"say,"},{"startTime":1052.101,"endTime":1054.186,"body":"to"},{"startTime":1054.186,"endTime":1056.271,"body":"suggest"},{"startTime":1056.271,"endTime":1058.356,"body":"another"},{"startTime":1058.356,"endTime":1060.441,"body":"holiday"},{"startTime":1060.441,"endTime":1062.526,"body":"in"},{"startTime":1062.526,"endTime":1064.611,"body":"some"},{"startTime":1064.611,"endTime":1066.696,"body":"of"},{"startTime":1066.696,"endTime":1068.781,"body":"those"},{"startTime":1068.781,"endTime":1070.866,"body":"countries"},{"startTime":1070.866,"endTime":1072.951,"body":"even"},{"startTime":1072.951,"endTime":1075.036,"body":"if"},{"startTime":1075.036,"endTime":1077.121,"body":"the"},{"startTime":1077.121,"endTime":1079.206,"body":"war"},{"startTime":1079.206,"endTime":1081.291,"body":"stops?"},{"startTime":1081.291,"endTime":1083.376,"body":"I"},{"startTime":1083.376,"endTime":1085.461,"body":"don't"},{"startTime":1085.461,"endTime":1087.546,"body":"know."},{"startTime":935.341,"endTime":938.965,"body":"\rSo,I"},{"startTime":938.965,"endTime":940.777,"body":"just"},{"startTime":940.777,"endTime":942.589,"body":"think"},{"startTime":942.589,"endTime":944.401,"body":"that"},{"startTime":944.401,"endTime":946.213,"body":"these"},{"startTime":946.213,"endTime":948.025,"body":"aftereffects"},{"startTime":948.025,"endTime":949.837,"body":"in"},{"startTime":949.837,"endTime":951.649,"body":"terms"},{"startTime":951.649,"endTime":953.461,"body":"of"},{"startTime":953.461,"endTime":955.273,"body":"activity,"},{"startTime":955.273,"endTime":957.085,"body":"growth,"},{"startTime":957.085,"endTime":958.897,"body":"whatever,"},{"startTime":958.897,"endTime":960.709,"body":"could"},{"startTime":960.709,"endTime":962.521,"body":"be"},{"startTime":962.521,"endTime":964.333,"body":"much"},{"startTime":964.333,"endTime":966.145,"body":"more"},{"startTime":966.145,"endTime":967.957,"body":"impactful."},{"startTime":967.957,"endTime":969.769,"body":"Because"},{"startTime":969.769,"endTime":971.581,"body":"we"},{"startTime":971.581,"endTime":973.393,"body":"know"},{"startTime":973.393,"endTime":975.205,"body":"memories"},{"startTime":975.205,"endTime":977.017,"body":"are"},{"startTime":977.017,"endTime":978.829,"body":"long."},{"startTime":978.829,"endTime":980.641,"body":"If"},{"startTime":980.641,"endTime":982.453,"body":"you’d"},{"startTime":982.453,"endTime":984.265,"body":"just"},{"startTime":984.265,"endTime":986.077,"body":"been"},{"startTime":986.077,"endTime":987.889,"body":"in"},{"startTime":987.889,"endTime":989.701,"body":"an"},{"startTime":989.701,"endTime":991.513,"body":"area"},{"startTime":991.513,"endTime":993.325,"body":"where"},{"startTime":993.325,"endTime":995.137,"body":"there's"},{"startTime":995.137,"endTime":996.949,"body":"actually"},{"startTime":996.949,"endTime":998.761,"body":"real"},{"startTime":998.761,"endTime":1000.573,"body":"conflict,"},{"startTime":1000.573,"endTime":1002.385,"body":"and"},{"startTime":1002.385,"endTime":1004.197,"body":"bombs"},{"startTime":1004.197,"endTime":1006.009,"body":"are"},{"startTime":1006.009,"endTime":1007.821,"body":"falling,"},{"startTime":1007.821,"endTime":1009.633,"body":"and"},{"startTime":1009.633,"endTime":1011.445,"body":"whatever,"},{"startTime":1011.445,"endTime":1013.257,"body":"you're"},{"startTime":1013.257,"endTime":1015.069,"body":"not"},{"startTime":1015.069,"endTime":1016.881,"body":"likely"},{"startTime":1016.881,"endTime":1018.693,"body":"to"},{"startTime":1018.693,"endTime":1020.505,"body":"suggest"},{"startTime":1020.505,"endTime":1022.317,"body":"that"},{"startTime":1022.317,"endTime":1024.129,"body":"as"},{"startTime":1024.129,"endTime":1025.941,"body":"your"},{"startTime":1024.87,"endTime":1027.753,"body":"next"},{"startTime":1027.753,"endTime":1029.565,"body":"destination"},{"startTime":1029.565,"endTime":1031.377,"body":"for"},{"startTime":1031.377,"endTime":1033.189,"body":"your"},{"startTime":1033.189,"endTime":1035.001,"body":"family"},{"startTime":1035.001,"endTime":1036.813,"body":"holiday,"},{"startTime":1036.813,"endTime":1038.625,"body":"I"},{"startTime":1038.625,"endTime":1040.437,"body":"would"},{"startTime":1040.437,"endTime":1042.249,"body":"have"},{"startTime":1042.249,"endTime":1044.061,"body":"thought."},{"startTime":1044.061,"endTime":1045.873,"body":"So,"},{"startTime":1045.873,"endTime":1047.685,"body":"it'll"},{"startTime":1047.685,"endTime":1049.497,"body":"be"},{"startTime":1049.497,"endTime":1051.309,"body":"very"},{"startTime":1051.309,"endTime":1053.121,"body":"interesting"},{"startTime":1053.121,"endTime":1054.933,"body":"to"},{"startTime":1054.933,"endTime":1056.745,"body":"see"},{"startTime":1056.745,"endTime":1058.557,"body":"what"},{"startTime":1058.557,"endTime":1060.369,"body":"the"},{"startTime":1060.369,"endTime":1062.181,"body":"real"},{"startTime":1062.181,"endTime":1063.993,"body":"fallout"},{"startTime":1063.993,"endTime":1065.805,"body":"is,"},{"startTime":1065.805,"endTime":1067.617,"body":"in"},{"startTime":1067.617,"endTime":1069.429,"body":"my"},{"startTime":1069.429,"endTime":1071.241,"body":"opinion,"},{"startTime":1071.241,"endTime":1073.053,"body":"other"},{"startTime":1073.053,"endTime":1074.865,"body":"than"},{"startTime":1074.865,"endTime":1076.677,"body":"just"},{"startTime":1076.677,"endTime":1078.489,"body":"higher"},{"startTime":1078.489,"endTime":1080.301,"body":"oil"},{"startTime":1080.301,"endTime":1082.113,"body":"prices"},{"startTime":1082.113,"endTime":1083.925,"body":"at"},{"startTime":1083.925,"endTime":1085.737,"body":"the"},{"startTime":1085.737,"endTime":1087.549,"body":"moment."},{"startTime":935.341,"endTime":938.801,"body":"\rAnyways,let's"},{"startTime":938.801,"endTime":940.531,"body":"jump"},{"startTime":940.531,"endTime":942.261,"body":"over"},{"startTime":942.261,"endTime":943.991,"body":"to"},{"startTime":943.991,"endTime":945.721,"body":"the"},{"startTime":945.721,"endTime":947.451,"body":"trend"},{"startTime":947.451,"endTime":949.181,"body":"following"},{"startTime":949.181,"endTime":950.911,"body":"update"},{"startTime":950.911,"endTime":952.641,"body":"that"},{"startTime":952.641,"endTime":954.371,"body":"we"},{"startTime":954.371,"endTime":956.101,"body":"always"},{"startTime":956.101,"endTime":957.831,"body":"do."},{"startTime":957.831,"endTime":959.561,"body":"I"},{"startTime":959.561,"endTime":961.291,"body":"mean,"},{"startTime":961.291,"endTime":963.021,"body":"so"},{"startTime":963.021,"endTime":964.751,"body":"far"},{"startTime":964.751,"endTime":966.481,"body":"March,"},{"startTime":966.481,"endTime":968.211,"body":"not"},{"startTime":968.211,"endTime":969.941,"body":"surprising,"},{"startTime":969.941,"endTime":971.671,"body":"has"},{"startTime":971.671,"endTime":973.401,"body":"been"},{"startTime":973.401,"endTime":975.131,"body":"a"},{"startTime":975.131,"endTime":976.861,"body":"month"},{"startTime":976.861,"endTime":978.591,"body":"of"},{"startTime":978.591,"endTime":980.321,"body":"some"},{"startTime":980.321,"endTime":982.051,"body":"corrections."},{"startTime":982.051,"endTime":983.781,"body":"Nothing"},{"startTime":983.781,"endTime":985.511,"body":"too"},{"startTime":985.511,"endTime":987.241,"body":"dramatic,"},{"startTime":987.241,"endTime":988.971,"body":"I"},{"startTime":988.971,"endTime":990.701,"body":"think,"},{"startTime":990.701,"endTime":992.431,"body":"but"},{"startTime":992.431,"endTime":994.161,"body":"obviously"},{"startTime":994.161,"endTime":995.891,"body":"things"},{"startTime":995.891,"endTime":997.621,"body":"like"},{"startTime":997.621,"endTime":999.351,"body":"equities,"},{"startTime":999.351,"endTime":1001.081,"body":"where"},{"startTime":1001.081,"endTime":1002.811,"body":"markets"},{"startTime":1002.811,"endTime":1004.541,"body":"have"},{"startTime":1004.541,"endTime":1006.271,"body":"been"},{"startTime":1006.271,"endTime":1008.001,"body":"selling"},{"startTime":1008.001,"endTime":1009.731,"body":"off"},{"startTime":1009.731,"endTime":1011.461,"body":"bonds,"},{"startTime":1011.461,"endTime":1013.191,"body":"markets"},{"startTime":1013.191,"endTime":1014.921,"body":"have"},{"startTime":1014.921,"endTime":1016.651,"body":"been"},{"startTime":1016.651,"endTime":1018.381,"body":"selling"},{"startTime":1018.381,"endTime":1020.111,"body":"off"},{"startTime":1020.111,"endTime":1021.841,"body":"precious"},{"startTime":1021.841,"endTime":1023.571,"body":"metals"},{"startTime":1023.571,"endTime":1025.301,"body":"quite"},{"startTime":1024.23,"endTime":1027.031,"body":"severely"},{"startTime":1027.031,"endTime":1028.761,"body":"actually,"},{"startTime":1028.761,"endTime":1030.491,"body":"in"},{"startTime":1030.491,"endTime":1032.221,"body":"some"},{"startTime":1032.221,"endTime":1033.951,"body":"of"},{"startTime":1033.951,"endTime":1035.681,"body":"the"},{"startTime":1035.681,"endTime":1037.411,"body":"markets"},{"startTime":1037.411,"endTime":1039.141,"body":"where"},{"startTime":1039.141,"endTime":1040.871,"body":"maybe"},{"startTime":1040.871,"endTime":1042.601,"body":"it's"},{"startTime":1042.601,"endTime":1044.331,"body":"an"},{"startTime":1044.331,"endTime":1046.061,"body":"easy"},{"startTime":1046.061,"endTime":1047.791,"body":"way"},{"startTime":1047.791,"endTime":1049.521,"body":"for"},{"startTime":1049.521,"endTime":1051.251,"body":"people"},{"startTime":1051.251,"endTime":1052.981,"body":"to"},{"startTime":1052.981,"endTime":1054.711,"body":"raise"},{"startTime":1054.711,"endTime":1056.441,"body":"cash"},{"startTime":1056.441,"endTime":1058.171,"body":"and"},{"startTime":1058.171,"endTime":1059.901,"body":"therefore"},{"startTime":1059.901,"endTime":1061.631,"body":"they're"},{"startTime":1061.631,"endTime":1063.361,"body":"selling"},{"startTime":1063.361,"endTime":1065.091,"body":"those"},{"startTime":1065.091,"endTime":1066.821,"body":"markets"},{"startTime":1066.821,"endTime":1068.551,"body":"in"},{"startTime":1068.551,"endTime":1070.281,"body":"particular,"},{"startTime":1070.281,"endTime":1072.011,"body":"I"},{"startTime":1072.011,"endTime":1073.741,"body":"don't"},{"startTime":1073.741,"endTime":1075.471,"body":"know."},{"startTime":1075.471,"endTime":1077.201,"body":"But"},{"startTime":1077.201,"endTime":1078.931,"body":"yeah,"},{"startTime":1078.931,"endTime":1080.661,"body":"so"},{"startTime":1080.661,"endTime":1082.391,"body":"we"},{"startTime":1082.391,"endTime":1084.121,"body":"have"},{"startTime":1084.121,"endTime":1085.851,"body":"some"},{"startTime":1085.851,"endTime":1087.581,"body":"corrections."},{"startTime":935.341,"endTime":939.455,"body":"\rThisis"},{"startTime":939.455,"endTime":941.512,"body":"of"},{"startTime":941.512,"endTime":943.569,"body":"course"},{"startTime":943.569,"endTime":945.626,"body":"completely"},{"startTime":945.626,"endTime":947.683,"body":"normal,"},{"startTime":947.683,"endTime":949.74,"body":"especially"},{"startTime":949.74,"endTime":951.797,"body":"after"},{"startTime":951.797,"endTime":953.854,"body":"a"},{"startTime":953.854,"endTime":955.911,"body":"long"},{"startTime":955.911,"endTime":957.968,"body":"run"},{"startTime":957.968,"endTime":960.025,"body":"of"},{"startTime":960.025,"endTime":962.082,"body":"eight"},{"startTime":962.082,"endTime":964.139,"body":"consecutive"},{"startTime":964.139,"endTime":966.196,"body":"months"},{"startTime":966.196,"endTime":968.253,"body":"for"},{"startTime":968.253,"endTime":970.31,"body":"the"},{"startTime":970.31,"endTime":972.367,"body":"industry"},{"startTime":972.367,"endTime":974.424,"body":"to"},{"startTime":974.424,"endTime":976.481,"body":"deliver"},{"startTime":976.481,"endTime":978.538,"body":"positive"},{"startTime":978.538,"endTime":980.595,"body":"returns."},{"startTime":980.595,"endTime":982.652,"body":"So,"},{"startTime":982.652,"endTime":984.709,"body":"this"},{"startTime":984.709,"endTime":986.766,"body":"may"},{"startTime":986.766,"endTime":988.823,"body":"come"},{"startTime":988.823,"endTime":990.88,"body":"to"},{"startTime":990.88,"endTime":992.937,"body":"an"},{"startTime":992.937,"endTime":994.994,"body":"end"},{"startTime":994.994,"endTime":997.051,"body":"this"},{"startTime":997.051,"endTime":999.108,"body":"month,"},{"startTime":999.108,"endTime":1001.165,"body":"but"},{"startTime":1001.165,"endTime":1003.222,"body":"it"},{"startTime":1003.222,"endTime":1005.279,"body":"may"},{"startTime":1005.279,"endTime":1007.336,"body":"not."},{"startTime":1007.336,"endTime":1009.393,"body":"I"},{"startTime":1009.393,"endTime":1011.45,"body":"mean,"},{"startTime":1011.45,"endTime":1013.507,"body":"who"},{"startTime":1013.507,"endTime":1015.564,"body":"knows,"},{"startTime":1015.564,"endTime":1017.621,"body":"the"},{"startTime":1017.621,"endTime":1019.678,"body":"month"},{"startTime":1019.678,"endTime":1021.735,"body":"is"},{"startTime":1021.735,"endTime":1023.792,"body":"still"},{"startTime":1023.792,"endTime":1025.849,"body":"pretty"},{"startTime":1024.778,"endTime":1027.906,"body":"long."},{"startTime":1027.906,"endTime":1029.963,"body":"But"},{"startTime":1029.963,"endTime":1032.02,"body":"is"},{"startTime":1032.02,"endTime":1034.077,"body":"there"},{"startTime":1034.077,"endTime":1036.134,"body":"anything"},{"startTime":1036.134,"endTime":1038.191,"body":"that"},{"startTime":1038.191,"endTime":1040.248,"body":"has"},{"startTime":1040.248,"endTime":1042.305,"body":"stood"},{"startTime":1042.305,"endTime":1044.362,"body":"out"},{"startTime":1044.362,"endTime":1046.419,"body":"to"},{"startTime":1046.419,"endTime":1048.476,"body":"you,"},{"startTime":1048.476,"endTime":1050.533,"body":"in"},{"startTime":1050.533,"endTime":1052.59,"body":"the"},{"startTime":1052.59,"endTime":1054.647,"body":"first"},{"startTime":1054.647,"endTime":1056.704,"body":"few"},{"startTime":1056.704,"endTime":1058.761,"body":"months,"},{"startTime":1058.761,"endTime":1060.818,"body":"from"},{"startTime":1060.818,"endTime":1062.875,"body":"changes"},{"startTime":1062.875,"endTime":1064.932,"body":"in"},{"startTime":1064.932,"endTime":1066.989,"body":"positioning"},{"startTime":1066.989,"endTime":1069.046,"body":"or"},{"startTime":1069.046,"endTime":1071.103,"body":"performance"},{"startTime":1071.103,"endTime":1073.16,"body":"wise"},{"startTime":1073.16,"endTime":1075.217,"body":"that"},{"startTime":1075.217,"endTime":1077.274,"body":"sort"},{"startTime":1077.274,"endTime":1079.331,"body":"of"},{"startTime":1079.331,"endTime":1081.388,"body":"stands"},{"startTime":1081.388,"endTime":1083.445,"body":"out"},{"startTime":1083.445,"endTime":1085.502,"body":"to"},{"startTime":1085.502,"endTime":1087.559,"body":"you?"},{"startTime":1089.251,"endTime":1090.834,"body":"So,"},{"startTime":1090.834,"endTime":1092.417,"body":"I"},{"startTime":1092.417,"endTime":1094,"body":"think"},{"startTime":1094,"endTime":1095.583,"body":"what"},{"startTime":1095.583,"endTime":1097.166,"body":"is"},{"startTime":1097.166,"endTime":1098.749,"body":"very"},{"startTime":1098.749,"endTime":1100.332,"body":"interesting,"},{"startTime":1100.332,"endTime":1101.915,"body":"from"},{"startTime":1101.915,"endTime":1103.498,"body":"my"},{"startTime":1103.498,"endTime":1105.081,"body":"perspective,"},{"startTime":1105.081,"endTime":1106.664,"body":"is"},{"startTime":1106.664,"endTime":1108.247,"body":"that"},{"startTime":1108.247,"endTime":1109.83,"body":"was"},{"startTime":1109.83,"endTime":1111.413,"body":"more"},{"startTime":1111.413,"endTime":1112.996,"body":"of"},{"startTime":1112.996,"endTime":1114.579,"body":"a"},{"startTime":1114.579,"endTime":1116.162,"body":"March"},{"startTime":1116.162,"endTime":1117.745,"body":"effect"},{"startTime":1117.745,"endTime":1119.328,"body":"rather"},{"startTime":1119.328,"endTime":1120.911,"body":"than"},{"startTime":1120.911,"endTime":1122.494,"body":"necessarily"},{"startTime":1122.494,"endTime":1124.077,"body":"a"},{"startTime":1124.077,"endTime":1125.66,"body":"year-to-date."},{"startTime":1125.66,"endTime":1127.243,"body":"But"},{"startTime":1127.243,"endTime":1128.826,"body":"I"},{"startTime":1128.826,"endTime":1130.409,"body":"guess"},{"startTime":1130.409,"endTime":1131.992,"body":"you"},{"startTime":1131.992,"endTime":1133.575,"body":"make"},{"startTime":1133.575,"endTime":1135.158,"body":"the"},{"startTime":1135.158,"endTime":1136.741,"body":"extrapolation,"},{"startTime":1136.741,"endTime":1138.324,"body":"it"},{"startTime":1138.324,"endTime":1139.907,"body":"can"},{"startTime":1139.907,"endTime":1141.49,"body":"be"},{"startTime":1141.49,"endTime":1143.073,"body":"like"},{"startTime":1143.073,"endTime":1144.656,"body":"a"},{"startTime":1144.656,"endTime":1146.239,"body":"year-to-date"},{"startTime":1146.239,"endTime":1147.822,"body":"realization,"},{"startTime":1147.822,"endTime":1149.405,"body":"you"},{"startTime":1149.405,"endTime":1150.988,"body":"know,"},{"startTime":1150.988,"endTime":1152.571,"body":"what"},{"startTime":1152.571,"endTime":1154.154,"body":"we're"},{"startTime":1154.154,"endTime":1155.737,"body":"discussing"},{"startTime":1155.737,"endTime":1157.32,"body":"back"},{"startTime":1157.32,"endTime":1158.903,"body":"in"},{"startTime":1158.903,"endTime":1160.486,"body":"December"},{"startTime":1160.486,"endTime":1162.069,"body":"and"},{"startTime":1162.069,"endTime":1163.652,"body":"pretty"},{"startTime":1163.652,"endTime":1165.235,"body":"much"},{"startTime":1165.235,"endTime":1166.818,"body":"I"},{"startTime":1166.818,"endTime":1168.401,"body":"would"},{"startTime":1168.401,"endTime":1169.984,"body":"say"},{"startTime":1169.984,"endTime":1171.567,"body":"over"},{"startTime":1171.567,"endTime":1173.15,"body":"the"},{"startTime":1173.15,"endTime":1174.733,"body":"last"},{"startTime":1174.733,"endTime":1176.316,"body":"couple"},{"startTime":1176.316,"endTime":1177.899,"body":"of"},{"startTime":1177.899,"endTime":1179.482,"body":"years"},{"startTime":1179.482,"endTime":1181.065,"body":"that"},{"startTime":1181.065,"endTime":1182.648,"body":"kind"},{"startTime":1182.648,"endTime":1184.231,"body":"of"},{"startTime":1184.231,"endTime":1185.814,"body":"slower"},{"startTime":1185.814,"endTime":1187.397,"body":"speeds"},{"startTime":1187.397,"endTime":1188.98,"body":"would"},{"startTime":1188.98,"endTime":1190.563,"body":"typically"},{"startTime":1190.563,"endTime":1192.146,"body":"allow"},{"startTime":1192.146,"endTime":1193.729,"body":"to"},{"startTime":1193.729,"endTime":1195.312,"body":"navigate"},{"startTime":1195.312,"endTime":1196.895,"body":"through"},{"startTime":1196.895,"endTime":1198.478,"body":"V"},{"startTime":1198.478,"endTime":1200.061,"body":"shapes."},{"startTime":1089.251,"endTime":1093.511,"body":"\rWhatwe're"},{"startTime":1093.511,"endTime":1095.641,"body":"seeing"},{"startTime":1095.641,"endTime":1097.771,"body":"at"},{"startTime":1097.771,"endTime":1099.901,"body":"the"},{"startTime":1099.901,"endTime":1102.031,"body":"moment"},{"startTime":1102.031,"endTime":1104.161,"body":"is"},{"startTime":1104.161,"endTime":1106.291,"body":"almost"},{"startTime":1106.291,"endTime":1108.421,"body":"like"},{"startTime":1108.421,"endTime":1110.551,"body":"the"},{"startTime":1110.551,"endTime":1112.681,"body":"flip"},{"startTime":1112.681,"endTime":1114.811,"body":"side."},{"startTime":1114.811,"endTime":1116.941,"body":"And"},{"startTime":1116.941,"endTime":1119.071,"body":"perhaps,"},{"startTime":1119.071,"endTime":1121.201,"body":"because"},{"startTime":1121.201,"endTime":1123.331,"body":"we're"},{"startTime":1123.331,"endTime":1125.461,"body":"in"},{"startTime":1125.461,"endTime":1127.591,"body":"the"},{"startTime":1127.591,"endTime":1129.721,"body":"middle"},{"startTime":1129.721,"endTime":1131.851,"body":"of"},{"startTime":1131.851,"endTime":1133.981,"body":"the"},{"startTime":1133.981,"endTime":1136.111,"body":"situation,"},{"startTime":1136.111,"endTime":1138.241,"body":"but"},{"startTime":1138.241,"endTime":1140.371,"body":"faster"},{"startTime":1140.371,"endTime":1142.501,"body":"speeds"},{"startTime":1142.501,"endTime":1144.631,"body":"at"},{"startTime":1144.631,"endTime":1146.761,"body":"the"},{"startTime":1146.761,"endTime":1148.891,"body":"moment"},{"startTime":1148.891,"endTime":1151.021,"body":"are"},{"startTime":1151.021,"endTime":1153.151,"body":"substantially"},{"startTime":1153.151,"endTime":1155.281,"body":"outperforming"},{"startTime":1155.281,"endTime":1157.411,"body":"slower"},{"startTime":1157.411,"endTime":1159.541,"body":"speeds."},{"startTime":1159.541,"endTime":1161.671,"body":"Like,"},{"startTime":1161.671,"endTime":1163.801,"body":"for"},{"startTime":1163.801,"endTime":1165.931,"body":"instance,"},{"startTime":1165.931,"endTime":1168.061,"body":"if"},{"startTime":1168.061,"endTime":1170.191,"body":"I"},{"startTime":1170.191,"endTime":1172.321,"body":"look"},{"startTime":1172.321,"endTime":1174.451,"body":"into"},{"startTime":1174.451,"endTime":1176.581,"body":"some"},{"startTime":1176.581,"endTime":1178.711,"body":"of"},{"startTime":1178.711,"endTime":1180.841,"body":"our"},{"startTime":1180.841,"endTime":1182.971,"body":"performance"},{"startTime":1182.971,"endTime":1185.101,"body":"in"},{"startTime":1185.101,"endTime":1187.231,"body":"March,"},{"startTime":1187.231,"endTime":1189.361,"body":"it's"},{"startTime":1189.361,"endTime":1191.491,"body":"close"},{"startTime":1191.491,"endTime":1193.621,"body":"to"},{"startTime":1193.621,"endTime":1195.751,"body":"being"},{"startTime":1195.751,"endTime":1197.881,"body":"flat,"},{"startTime":1197.881,"endTime":1200.011,"body":"frankly."},{"startTime":1089.251,"endTime":1094.287,"body":"\rSo,it's"},{"startTime":1094.287,"endTime":1096.805,"body":"not"},{"startTime":1096.805,"endTime":1099.323,"body":"that"},{"startTime":1099.323,"endTime":1101.841,"body":"it's"},{"startTime":1101.841,"endTime":1104.359,"body":"been"},{"startTime":1104.359,"endTime":1106.877,"body":"a"},{"startTime":1106.877,"endTime":1109.395,"body":"negative"},{"startTime":1109.395,"endTime":1111.913,"body":"performance,"},{"startTime":1111.913,"endTime":1114.431,"body":"and"},{"startTime":1114.431,"endTime":1116.949,"body":"obviously"},{"startTime":1116.949,"endTime":1119.467,"body":"commodities"},{"startTime":1119.467,"endTime":1121.985,"body":"have"},{"startTime":1121.985,"endTime":1124.503,"body":"been"},{"startTime":1124.503,"endTime":1127.021,"body":"the"},{"startTime":1127.021,"endTime":1129.539,"body":"big"},{"startTime":1129.539,"endTime":1132.057,"body":"driver"},{"startTime":1132.057,"endTime":1134.575,"body":"of"},{"startTime":1134.575,"endTime":1137.093,"body":"performance"},{"startTime":1137.093,"endTime":1139.611,"body":"here."},{"startTime":1139.611,"endTime":1142.129,"body":"And"},{"startTime":1142.129,"endTime":1144.647,"body":"to"},{"startTime":1144.647,"endTime":1147.165,"body":"your"},{"startTime":1147.165,"endTime":1149.683,"body":"point,"},{"startTime":1149.683,"endTime":1152.201,"body":"it's"},{"startTime":1152.201,"endTime":1154.719,"body":"the"},{"startTime":1154.719,"endTime":1157.237,"body":"oil"},{"startTime":1157.237,"endTime":1159.755,"body":"complex."},{"startTime":1159.755,"endTime":1162.273,"body":"So"},{"startTime":1162.273,"endTime":1164.791,"body":"literally"},{"startTime":1164.791,"endTime":1167.309,"body":"from"},{"startTime":1167.309,"endTime":1169.827,"body":"heating"},{"startTime":1169.827,"endTime":1172.345,"body":"oil,"},{"startTime":1172.345,"endTime":1174.863,"body":"gas,"},{"startTime":1174.863,"endTime":1177.381,"body":"oil,"},{"startTime":1177.381,"endTime":1179.899,"body":"branding"},{"startTime":1179.899,"endTime":1182.417,"body":"oil,"},{"startTime":1182.417,"endTime":1184.935,"body":"this"},{"startTime":1184.935,"endTime":1187.453,"body":"is"},{"startTime":1187.453,"endTime":1189.971,"body":"really"},{"startTime":1189.971,"endTime":1192.489,"body":"the"},{"startTime":1192.489,"endTime":1195.007,"body":"spectrum"},{"startTime":1195.007,"endTime":1197.525,"body":"of"},{"startTime":1197.525,"endTime":1200.043,"body":"performance."},{"startTime":1089.251,"endTime":1092.883,"body":"\rButyou"},{"startTime":1092.883,"endTime":1094.699,"body":"also"},{"startTime":1094.699,"endTime":1096.515,"body":"get"},{"startTime":1096.515,"endTime":1098.331,"body":"some"},{"startTime":1098.331,"endTime":1100.147,"body":"positive"},{"startTime":1100.147,"endTime":1101.963,"body":"return"},{"startTime":1101.963,"endTime":1103.779,"body":"from"},{"startTime":1103.779,"endTime":1105.595,"body":"some"},{"startTime":1105.595,"endTime":1107.411,"body":"of"},{"startTime":1107.411,"endTime":1109.227,"body":"the"},{"startTime":1109.227,"endTime":1111.043,"body":"rates"},{"startTime":1111.043,"endTime":1112.859,"body":"complex,"},{"startTime":1112.859,"endTime":1114.675,"body":"specifically,"},{"startTime":1114.675,"endTime":1116.491,"body":"you"},{"startTime":1116.491,"endTime":1118.307,"body":"know,"},{"startTime":1118.307,"endTime":1120.123,"body":"some"},{"startTime":1120.123,"endTime":1121.939,"body":"sort"},{"startTime":1121.939,"endTime":1123.755,"body":"short"},{"startTime":1123.755,"endTime":1125.571,"body":"positions"},{"startTime":1125.571,"endTime":1127.387,"body":"that"},{"startTime":1127.387,"endTime":1129.203,"body":"have"},{"startTime":1129.203,"endTime":1131.019,"body":"delivered"},{"startTime":1131.019,"endTime":1132.835,"body":"good"},{"startTime":1132.835,"endTime":1134.651,"body":"performance"},{"startTime":1134.651,"endTime":1136.467,"body":"month-to-date."},{"startTime":1136.467,"endTime":1138.283,"body":"Obviously,"},{"startTime":1138.283,"endTime":1140.099,"body":"equities"},{"startTime":1140.099,"endTime":1141.915,"body":"have"},{"startTime":1141.915,"endTime":1143.731,"body":"been"},{"startTime":1143.731,"endTime":1145.547,"body":"the"},{"startTime":1145.547,"endTime":1147.363,"body":"ones"},{"startTime":1147.363,"endTime":1149.179,"body":"that"},{"startTime":1149.179,"endTime":1150.995,"body":"have"},{"startTime":1150.995,"endTime":1152.811,"body":"been"},{"startTime":1152.811,"endTime":1154.627,"body":"hit,"},{"startTime":1154.627,"endTime":1156.443,"body":"but"},{"startTime":1156.443,"endTime":1158.259,"body":"net/net,"},{"startTime":1158.259,"endTime":1160.075,"body":"so"},{"startTime":1160.075,"endTime":1161.891,"body":"far,"},{"startTime":1161.891,"endTime":1163.707,"body":"the"},{"startTime":1163.707,"endTime":1165.523,"body":"month"},{"startTime":1165.523,"endTime":1167.339,"body":"is"},{"startTime":1167.339,"endTime":1169.155,"body":"not"},{"startTime":1169.155,"endTime":1170.971,"body":"just"},{"startTime":1170.971,"endTime":1172.787,"body":"within"},{"startTime":1172.787,"endTime":1174.603,"body":"statistical"},{"startTime":1174.603,"endTime":1176.419,"body":"ranges."},{"startTime":1176.419,"endTime":1178.235,"body":"It's"},{"startTime":1178.235,"endTime":1180.051,"body":"almost"},{"startTime":1180.051,"endTime":1181.867,"body":"like,"},{"startTime":1181.867,"endTime":1183.683,"body":"I"},{"startTime":1183.683,"endTime":1185.499,"body":"guess,"},{"startTime":1185.499,"endTime":1187.315,"body":"a"},{"startTime":1187.315,"endTime":1189.131,"body":"non-event"},{"startTime":1189.131,"endTime":1190.947,"body":"from"},{"startTime":1190.947,"endTime":1192.763,"body":"a"},{"startTime":1192.763,"endTime":1194.579,"body":"trend"},{"startTime":1194.579,"endTime":1196.395,"body":"following"},{"startTime":1196.395,"endTime":1198.211,"body":"standpoint."},{"startTime":1198.211,"endTime":1200.027,"body":"Right?"},{"startTime":1089.251,"endTime":1092.767,"body":"\rSo,I"},{"startTime":1092.767,"endTime":1094.525,"body":"mean"},{"startTime":1094.525,"endTime":1096.283,"body":"to"},{"startTime":1096.283,"endTime":1098.041,"body":"your"},{"startTime":1098.041,"endTime":1099.799,"body":"earlier"},{"startTime":1099.799,"endTime":1101.557,"body":"point,"},{"startTime":1101.557,"endTime":1103.315,"body":"the"},{"startTime":1103.315,"endTime":1105.073,"body":"4%"},{"startTime":1105.073,"endTime":1106.831,"body":"fine."},{"startTime":1106.831,"endTime":1108.589,"body":"I"},{"startTime":1108.589,"endTime":1110.347,"body":"mean,"},{"startTime":1110.347,"endTime":1112.105,"body":"we've"},{"startTime":1112.105,"endTime":1113.863,"body":"seen"},{"startTime":1113.863,"endTime":1115.621,"body":"4%"},{"startTime":1115.621,"endTime":1117.379,"body":"up"},{"startTime":1117.379,"endTime":1119.137,"body":"and"},{"startTime":1119.137,"endTime":1120.895,"body":"4%"},{"startTime":1120.895,"endTime":1122.653,"body":"down."},{"startTime":1122.653,"endTime":1124.411,"body":"I"},{"startTime":1124.411,"endTime":1126.169,"body":"mean,"},{"startTime":1126.169,"endTime":1127.927,"body":"I"},{"startTime":1127.927,"endTime":1129.685,"body":"would"},{"startTime":1129.685,"endTime":1131.443,"body":"not"},{"startTime":1131.443,"endTime":1133.201,"body":"get"},{"startTime":1133.201,"endTime":1134.959,"body":"any"},{"startTime":1134.959,"endTime":1136.717,"body":"concerns"},{"startTime":1136.717,"endTime":1138.475,"body":"in"},{"startTime":1138.475,"endTime":1140.233,"body":"this"},{"startTime":1140.233,"endTime":1141.991,"body":"regard."},{"startTime":1141.991,"endTime":1143.749,"body":"So,"},{"startTime":1143.749,"endTime":1145.507,"body":"that"},{"startTime":1145.507,"endTime":1147.265,"body":"is"},{"startTime":1147.265,"endTime":1149.023,"body":"maybe"},{"startTime":1149.023,"endTime":1150.781,"body":"the"},{"startTime":1150.781,"endTime":1152.539,"body":"one"},{"startTime":1152.539,"endTime":1154.297,"body":"point"},{"startTime":1154.297,"endTime":1156.055,"body":"I"},{"startTime":1156.055,"endTime":1157.813,"body":"would"},{"startTime":1157.813,"endTime":1159.571,"body":"kind"},{"startTime":1159.571,"endTime":1161.329,"body":"of"},{"startTime":1161.329,"endTime":1163.087,"body":"flag"},{"startTime":1163.087,"endTime":1164.845,"body":"here,"},{"startTime":1164.845,"endTime":1166.603,"body":"that"},{"startTime":1166.603,"endTime":1168.361,"body":"I've"},{"startTime":1168.361,"endTime":1170.119,"body":"seen"},{"startTime":1170.119,"endTime":1171.877,"body":"a"},{"startTime":1171.877,"endTime":1173.635,"body":"dispersion"},{"startTime":1173.635,"endTime":1175.393,"body":"in"},{"startTime":1175.393,"endTime":1177.151,"body":"the"},{"startTime":1177.151,"endTime":1178.909,"body":"speed"},{"startTime":1178.909,"endTime":1180.667,"body":"complex"},{"startTime":1180.667,"endTime":1182.425,"body":"that"},{"startTime":1182.425,"endTime":1184.183,"body":"is"},{"startTime":1184.183,"endTime":1185.941,"body":"almost"},{"startTime":1185.941,"endTime":1187.699,"body":"mirroring,"},{"startTime":1187.699,"endTime":1189.457,"body":"but"},{"startTime":1189.457,"endTime":1191.215,"body":"antithetically,"},{"startTime":1191.215,"endTime":1192.973,"body":"what"},{"startTime":1192.973,"endTime":1194.731,"body":"we"},{"startTime":1194.731,"endTime":1196.489,"body":"saw"},{"startTime":1196.489,"endTime":1198.247,"body":"last"},{"startTime":1198.247,"endTime":1200.005,"body":"year."},{"startTime":1200.061,"endTime":1200.427,"body":"So,"},{"startTime":1200.427,"endTime":1200.793,"body":"let"},{"startTime":1200.793,"endTime":1201.159,"body":"me"},{"startTime":1201.159,"endTime":1201.525,"body":"ask"},{"startTime":1201.525,"endTime":1201.891,"body":"you"},{"startTime":1201.891,"endTime":1202.257,"body":"just"},{"startTime":1202.257,"endTime":1202.623,"body":"to"},{"startTime":1202.623,"endTime":1202.989,"body":"put"},{"startTime":1202.989,"endTime":1203.355,"body":"some"},{"startTime":1203.355,"endTime":1203.721,"body":"context"},{"startTime":1203.721,"endTime":1204.087,"body":"on"},{"startTime":1204.087,"endTime":1204.453,"body":"that."},{"startTime":1204.453,"endTime":1204.819,"body":"When"},{"startTime":1204.819,"endTime":1205.185,"body":"you"},{"startTime":1205.185,"endTime":1205.551,"body":"say"},{"startTime":1205.551,"endTime":1205.917,"body":"it's"},{"startTime":1205.917,"endTime":1206.283,"body":"been"},{"startTime":1206.283,"endTime":1206.649,"body":"the"},{"startTime":1206.649,"endTime":1207.015,"body":"commodities."},{"startTime":1207.015,"endTime":1207.381,"body":"In"},{"startTime":1207.381,"endTime":1207.747,"body":"a"},{"startTime":1207.747,"endTime":1208.113,"body":"typical"},{"startTime":1208.113,"endTime":1208.479,"body":"QIS"},{"startTime":1208.479,"endTime":1208.845,"body":"portfolio,"},{"startTime":1208.845,"endTime":1209.211,"body":"what"},{"startTime":1209.211,"endTime":1209.577,"body":"would"},{"startTime":1209.577,"endTime":1209.943,"body":"you"},{"startTime":1209.943,"endTime":1210.309,"body":"say"},{"startTime":1210.309,"endTime":1210.675,"body":"the"},{"startTime":1210.675,"endTime":1211.041,"body":"split"},{"startTime":1211.041,"endTime":1211.407,"body":"is"},{"startTime":1211.407,"endTime":1211.773,"body":"between"},{"startTime":1211.773,"endTime":1212.139,"body":"commodities"},{"startTime":1212.139,"endTime":1212.505,"body":"and"},{"startTime":1212.505,"endTime":1212.871,"body":"financial"},{"startTime":1212.871,"endTime":1213.237,"body":"markets?"},{"startTime":1213.237,"endTime":1213.603,"body":"What"},{"startTime":1213.603,"endTime":1213.969,"body":"would,"},{"startTime":1213.969,"endTime":1214.335,"body":"typically,"},{"startTime":1214.335,"endTime":1214.701,"body":"be"},{"startTime":1214.701,"endTime":1215.067,"body":"what"},{"startTime":1215.067,"endTime":1215.433,"body":"you"},{"startTime":1215.433,"endTime":1215.799,"body":"would"},{"startTime":1215.799,"endTime":1216.165,"body":"expect?"},{"startTime":1216.165,"endTime":1216.531,"body":"Because,"},{"startTime":1216.531,"endTime":1216.897,"body":"obviously,"},{"startTime":1216.897,"endTime":1217.263,"body":"if"},{"startTime":1217.263,"endTime":1217.629,"body":"you"},{"startTime":1217.629,"endTime":1217.995,"body":"have,"},{"startTime":1217.995,"endTime":1218.361,"body":"like"},{"startTime":1218.361,"endTime":1218.727,"body":"we"},{"startTime":1218.727,"endTime":1219.093,"body":"do"},{"startTime":1219.093,"endTime":1219.459,"body":"at"},{"startTime":1219.459,"endTime":1219.825,"body":"Dunn,"},{"startTime":1219.825,"endTime":1220.191,"body":"we"},{"startTime":1220.191,"endTime":1220.557,"body":"have"},{"startTime":1220.557,"endTime":1220.923,"body":"a"},{"startTime":1220.923,"endTime":1221.289,"body":"higher"},{"startTime":1221.289,"endTime":1221.655,"body":"weight"},{"startTime":1221.655,"endTime":1222.021,"body":"to"},{"startTime":1222.021,"endTime":1222.387,"body":"commodities,"},{"startTime":1222.387,"endTime":1222.753,"body":"which"},{"startTime":1222.753,"endTime":1223.119,"body":"we"},{"startTime":1223.119,"endTime":1223.485,"body":"like,"},{"startTime":1223.485,"endTime":1223.851,"body":"but"},{"startTime":1223.851,"endTime":1224.217,"body":"not"},{"startTime":1224.217,"endTime":1224.583,"body":"everybody"},{"startTime":1224.583,"endTime":1224.949,"body":"likes"},{"startTime":1224.949,"endTime":1225.315,"body":"to"},{"startTime":1225.315,"endTime":1225.681,"body":"have"},{"startTime":1225.681,"endTime":1226.047,"body":"that,"},{"startTime":1226.047,"endTime":1226.413,"body":"of"},{"startTime":1226.413,"endTime":1226.779,"body":"course."},{"startTime":1226.779,"endTime":1227.145,"body":"So,"},{"startTime":1227.145,"endTime":1227.511,"body":"what"},{"startTime":1227.511,"endTime":1227.877,"body":"would"},{"startTime":1227.877,"endTime":1228.243,"body":"you"},{"startTime":1228.243,"endTime":1228.609,"body":"say"},{"startTime":1228.609,"endTime":1228.975,"body":"is"},{"startTime":1228.975,"endTime":1229.341,"body":"your"},{"startTime":1229.341,"endTime":1229.707,"body":"sweet"},{"startTime":1229.707,"endTime":1230.073,"body":"spot"},{"startTime":1230.073,"endTime":1230.439,"body":"in"},{"startTime":1230.439,"endTime":1230.805,"body":"terms"},{"startTime":1230.805,"endTime":1231.171,"body":"of"},{"startTime":1231.171,"endTime":1231.537,"body":"allocation"},{"startTime":1231.537,"endTime":1231.903,"body":"between"},{"startTime":1231.903,"endTime":1232.269,"body":"those"},{"startTime":1232.269,"endTime":1232.635,"body":"two"},{"startTime":1232.635,"endTime":1233.001,"body":"types"},{"startTime":1233.001,"endTime":1233.367,"body":"of"},{"startTime":1233.367,"endTime":1233.733,"body":"markets?"},{"startTime":1234.171,"endTime":1234.416,"body":"If"},{"startTime":1234.416,"endTime":1234.661,"body":"I"},{"startTime":1234.661,"endTime":1234.906,"body":"ask"},{"startTime":1234.906,"endTime":1235.151,"body":"for"},{"startTime":1235.151,"endTime":1235.396,"body":"one"},{"startTime":1235.396,"endTime":1235.641,"body":"clarification,"},{"startTime":1235.641,"endTime":1235.886,"body":"you"},{"startTime":1235.886,"endTime":1236.131,"body":"say"},{"startTime":1236.131,"endTime":1236.376,"body":"you"},{"startTime":1236.376,"endTime":1236.621,"body":"have"},{"startTime":1236.621,"endTime":1236.866,"body":"a"},{"startTime":1236.866,"endTime":1237.111,"body":"higher"},{"startTime":1237.111,"endTime":1237.356,"body":"allocation,"},{"startTime":1237.356,"endTime":1237.601,"body":"is"},{"startTime":1237.601,"endTime":1237.846,"body":"that…?"},{"startTime":1237.931,"endTime":1238.236,"body":"No,"},{"startTime":1238.236,"endTime":1238.541,"body":"I"},{"startTime":1238.541,"endTime":1238.846,"body":"mean"},{"startTime":1238.846,"endTime":1239.151,"body":"just"},{"startTime":1239.151,"endTime":1239.456,"body":"the"},{"startTime":1239.456,"endTime":1239.761,"body":"number"},{"startTime":1239.761,"endTime":1240.066,"body":"of"},{"startTime":1240.066,"endTime":1240.371,"body":"markets"},{"startTime":1240.371,"endTime":1240.676,"body":"in"},{"startTime":1240.676,"endTime":1240.981,"body":"the"},{"startTime":1240.981,"endTime":1241.286,"body":"portfolio"},{"startTime":1241.286,"endTime":1241.591,"body":"because"},{"startTime":1241.591,"endTime":1241.896,"body":"the"},{"startTime":1241.896,"endTime":1242.201,"body":"risk"},{"startTime":1242.201,"endTime":1242.506,"body":"allocation"},{"startTime":1242.506,"endTime":1242.811,"body":"is"},{"startTime":1242.811,"endTime":1243.116,"body":"obviously"},{"startTime":1243.116,"endTime":1243.421,"body":"dynamic,"},{"startTime":1243.421,"endTime":1243.726,"body":"right?"},{"startTime":1243.726,"endTime":1244.031,"body":"So,"},{"startTime":1244.031,"endTime":1244.336,"body":"we"},{"startTime":1244.336,"endTime":1244.641,"body":"obviously"},{"startTime":1244.641,"endTime":1244.946,"body":"don't"},{"startTime":1244.946,"endTime":1245.251,"body":"know"},{"startTime":1245.251,"endTime":1245.556,"body":"what"},{"startTime":1245.556,"endTime":1245.861,"body":"that's"},{"startTime":1245.861,"endTime":1246.166,"body":"going"},{"startTime":1246.166,"endTime":1246.471,"body":"to"},{"startTime":1246.471,"endTime":1246.776,"body":"be."},{"startTime":1246.776,"endTime":1247.081,"body":"I'm"},{"startTime":1247.081,"endTime":1247.386,"body":"just"},{"startTime":1247.386,"endTime":1247.691,"body":"thinking,"},{"startTime":1247.691,"endTime":1247.996,"body":"if"},{"startTime":1247.996,"endTime":1248.301,"body":"you"},{"startTime":1248.301,"endTime":1248.606,"body":"put"},{"startTime":1248.606,"endTime":1248.911,"body":"together"},{"startTime":1248.911,"endTime":1249.216,"body":"a"},{"startTime":1249.216,"endTime":1249.521,"body":"portfolio"},{"startTime":1249.521,"endTime":1249.826,"body":"of,"},{"startTime":1249.826,"endTime":1250.131,"body":"say,"},{"startTime":1250.131,"endTime":1250.436,"body":"60"},{"startTime":1250.436,"endTime":1250.741,"body":"markets,"},{"startTime":1250.741,"endTime":1251.046,"body":"or"},{"startTime":1251.046,"endTime":1251.351,"body":"however,"},{"startTime":1251.351,"endTime":1251.656,"body":"I"},{"startTime":1251.656,"endTime":1251.961,"body":"don't"},{"startTime":1251.961,"endTime":1252.266,"body":"even"},{"startTime":1252.266,"endTime":1252.571,"body":"know"},{"startTime":1252.571,"endTime":1252.876,"body":"how"},{"startTime":1252.876,"endTime":1253.181,"body":"many"},{"startTime":1253.181,"endTime":1253.486,"body":"markets"},{"startTime":1253.486,"endTime":1253.791,"body":"would"},{"startTime":1253.791,"endTime":1254.096,"body":"be"},{"startTime":1254.096,"endTime":1254.401,"body":"typical"},{"startTime":1254.401,"endTime":1254.706,"body":"in"},{"startTime":1254.706,"endTime":1255.011,"body":"a"},{"startTime":1255.011,"endTime":1255.316,"body":"QIS,"},{"startTime":1255.316,"endTime":1255.621,"body":"how"},{"startTime":1255.621,"endTime":1255.926,"body":"many"},{"startTime":1255.926,"endTime":1256.231,"body":"of"},{"startTime":1256.231,"endTime":1256.536,"body":"those"},{"startTime":1256.536,"endTime":1256.841,"body":"market"},{"startTime":1256.841,"endTime":1257.146,"body":"would"},{"startTime":1257.146,"endTime":1257.451,"body":"be"},{"startTime":1257.451,"endTime":1257.756,"body":"commodities"},{"startTime":1257.756,"endTime":1258.061,"body":"as"},{"startTime":1258.061,"endTime":1258.366,"body":"a"},{"startTime":1258.366,"endTime":1258.671,"body":"percentage?"},{"startTime":1259.911,"endTime":1263.279,"body":"I"},{"startTime":1263.279,"endTime":1266.647,"body":"would"},{"startTime":1266.647,"endTime":1270.015,"body":"say,"},{"startTime":1270.015,"endTime":1273.383,"body":"from"},{"startTime":1273.383,"endTime":1276.751,"body":"implementations"},{"startTime":1276.751,"endTime":1280.119,"body":"with"},{"startTime":1280.119,"endTime":1283.487,"body":"a"},{"startTime":1283.487,"endTime":1286.855,"body":"core"},{"startTime":1286.855,"endTime":1290.223,"body":"universe,"},{"startTime":1290.223,"endTime":1293.591,"body":"that"},{"startTime":1293.591,"endTime":1296.959,"body":"can"},{"startTime":1296.959,"endTime":1300.327,"body":"have"},{"startTime":1300.327,"endTime":1303.695,"body":"maybe"},{"startTime":1303.695,"endTime":1307.063,"body":"10"},{"startTime":1307.063,"endTime":1310.431,"body":"commodities"},{"startTime":1310.431,"endTime":1313.799,"body":"out"},{"startTime":1313.799,"endTime":1317.167,"body":"of"},{"startTime":1317.167,"endTime":1320.535,"body":"a"},{"startTime":1320.535,"endTime":1323.903,"body":"universe"},{"startTime":1323.903,"endTime":1327.271,"body":"of"},{"startTime":1327.271,"endTime":1330.639,"body":"like"},{"startTime":1330.639,"endTime":1334.007,"body":"20,"},{"startTime":1334.007,"endTime":1337.375,"body":"25"},{"startTime":1337.375,"endTime":1340.743,"body":"to"},{"startTime":1340.743,"endTime":1344.111,"body":"a"},{"startTime":1344.111,"endTime":1347.479,"body":"much"},{"startTime":1347.479,"endTime":1350.847,"body":"broader."},{"startTime":1350.847,"endTime":1354.215,"body":"You"},{"startTime":1354.215,"endTime":1357.583,"body":"can"},{"startTime":1357.583,"endTime":1360.951,"body":"have"},{"startTime":1360.951,"endTime":1364.319,"body":"up"},{"startTime":1364.319,"endTime":1367.687,"body":"to"},{"startTime":1367.687,"endTime":1371.055,"body":"maybe"},{"startTime":1371.055,"endTime":1374.423,"body":"even"},{"startTime":1374.423,"endTime":1377.791,"body":"40"},{"startTime":1377.791,"endTime":1381.159,"body":"markets"},{"startTime":1381.159,"endTime":1384.527,"body":"in"},{"startTime":1384.527,"endTime":1387.895,"body":"commodities."},{"startTime":1259.911,"endTime":1263.515,"body":"\rButI"},{"startTime":1263.515,"endTime":1265.317,"body":"mean,"},{"startTime":1265.317,"endTime":1267.119,"body":"if"},{"startTime":1267.119,"endTime":1268.921,"body":"I"},{"startTime":1268.921,"endTime":1270.723,"body":"were"},{"startTime":1270.723,"endTime":1272.525,"body":"to"},{"startTime":1272.525,"endTime":1274.327,"body":"make"},{"startTime":1274.327,"endTime":1276.129,"body":"a"},{"startTime":1276.129,"endTime":1277.931,"body":"guess,"},{"startTime":1277.931,"endTime":1279.733,"body":"and"},{"startTime":1279.733,"endTime":1281.535,"body":"that's"},{"startTime":1281.535,"endTime":1283.337,"body":"just"},{"startTime":1283.337,"endTime":1285.139,"body":"a"},{"startTime":1285.139,"endTime":1286.941,"body":"guess"},{"startTime":1286.941,"endTime":1288.743,"body":"about"},{"startTime":1288.743,"endTime":1290.545,"body":"the"},{"startTime":1290.545,"endTime":1292.347,"body":"industry,"},{"startTime":1292.347,"endTime":1294.149,"body":"I"},{"startTime":1294.149,"endTime":1295.951,"body":"would"},{"startTime":1295.951,"endTime":1297.753,"body":"imagine"},{"startTime":1297.753,"endTime":1299.555,"body":"something"},{"startTime":1299.555,"endTime":1301.357,"body":"like"},{"startTime":1301.357,"endTime":1303.159,"body":"a"},{"startTime":1303.159,"endTime":1304.961,"body":"BCOM"},{"startTime":1304.961,"endTime":1306.763,"body":"universe"},{"startTime":1306.763,"endTime":1308.565,"body":"maybe"},{"startTime":1308.565,"endTime":1310.367,"body":"tilted"},{"startTime":1310.367,"endTime":1312.169,"body":"more"},{"startTime":1312.169,"endTime":1313.971,"body":"towards"},{"startTime":1313.971,"endTime":1315.773,"body":"the"},{"startTime":1315.773,"endTime":1317.575,"body":"liquid"},{"startTime":1317.575,"endTime":1319.377,"body":"market."},{"startTime":1319.377,"endTime":1321.179,"body":"So,"},{"startTime":1321.179,"endTime":1322.981,"body":"I"},{"startTime":1322.981,"endTime":1324.783,"body":"don't"},{"startTime":1324.783,"endTime":1326.585,"body":"know,"},{"startTime":1326.585,"endTime":1328.387,"body":"15"},{"startTime":1328.387,"endTime":1330.189,"body":"to"},{"startTime":1330.189,"endTime":1331.991,"body":"20"},{"startTime":1331.991,"endTime":1333.793,"body":"is"},{"startTime":1333.793,"endTime":1335.595,"body":"the"},{"startTime":1335.595,"endTime":1337.397,"body":"reasonable"},{"startTime":1337.397,"endTime":1339.199,"body":"number."},{"startTime":1339.199,"endTime":1341.001,"body":"But"},{"startTime":1341.001,"endTime":1342.803,"body":"risk"},{"startTime":1342.803,"endTime":1344.605,"body":"wise,"},{"startTime":1344.605,"endTime":1346.407,"body":"and"},{"startTime":1346.407,"endTime":1348.209,"body":"again"},{"startTime":1348.209,"endTime":1350.011,"body":"that's"},{"startTime":1350.011,"endTime":1351.813,"body":"more"},{"startTime":1351.813,"endTime":1353.615,"body":"my"},{"startTime":1353.615,"endTime":1355.417,"body":"hunch,"},{"startTime":1355.417,"endTime":1357.219,"body":"would"},{"startTime":1357.219,"endTime":1359.021,"body":"be"},{"startTime":1359.021,"endTime":1360.823,"body":"that"},{"startTime":1360.823,"endTime":1362.625,"body":"people"},{"startTime":1362.625,"endTime":1364.427,"body":"allocate"},{"startTime":1364.427,"endTime":1366.229,"body":"a"},{"startTime":1366.229,"endTime":1368.031,"body":"quarter"},{"startTime":1368.031,"endTime":1369.833,"body":"of"},{"startTime":1369.833,"endTime":1371.635,"body":"the"},{"startTime":1371.635,"endTime":1373.437,"body":"risk"},{"startTime":1373.437,"endTime":1375.239,"body":"vis"},{"startTime":1375.239,"endTime":1377.041,"body":"a"},{"startTime":1377.041,"endTime":1378.843,"body":"vis"},{"startTime":1378.843,"endTime":1380.645,"body":"equities,"},{"startTime":1380.645,"endTime":1382.447,"body":"and"},{"startTime":1382.447,"endTime":1384.249,"body":"rates,"},{"startTime":1384.249,"endTime":1386.051,"body":"and"},{"startTime":1386.051,"endTime":1387.853,"body":"currencies."},{"startTime":1259.911,"endTime":1263.071,"body":"\rThereis"},{"startTime":1263.071,"endTime":1264.651,"body":"an"},{"startTime":1264.651,"endTime":1266.231,"body":"argument"},{"startTime":1266.231,"endTime":1267.811,"body":"to"},{"startTime":1267.811,"endTime":1269.391,"body":"be"},{"startTime":1269.391,"endTime":1270.971,"body":"had"},{"startTime":1270.971,"endTime":1272.551,"body":"that"},{"startTime":1272.551,"endTime":1274.131,"body":"commodities"},{"startTime":1274.131,"endTime":1275.711,"body":"are"},{"startTime":1275.711,"endTime":1277.291,"body":"much"},{"startTime":1277.291,"endTime":1278.871,"body":"more"},{"startTime":1278.871,"endTime":1280.451,"body":"diversifying"},{"startTime":1280.451,"endTime":1282.031,"body":"as"},{"startTime":1282.031,"endTime":1283.611,"body":"an"},{"startTime":1283.611,"endTime":1285.191,"body":"ecosystem."},{"startTime":1285.191,"endTime":1286.771,"body":"Specifically,"},{"startTime":1286.771,"endTime":1288.351,"body":"if"},{"startTime":1288.351,"endTime":1289.931,"body":"you"},{"startTime":1289.931,"endTime":1291.511,"body":"have"},{"startTime":1291.511,"endTime":1293.091,"body":"a"},{"startTime":1293.091,"endTime":1294.671,"body":"broader"},{"startTime":1294.671,"endTime":1296.251,"body":"universe,"},{"startTime":1296.251,"endTime":1297.831,"body":"and"},{"startTime":1297.831,"endTime":1299.411,"body":"therefore"},{"startTime":1299.411,"endTime":1300.991,"body":"there"},{"startTime":1300.991,"endTime":1302.571,"body":"is"},{"startTime":1302.571,"endTime":1304.151,"body":"a"},{"startTime":1304.151,"endTime":1305.731,"body":"reason"},{"startTime":1305.731,"endTime":1307.311,"body":"to"},{"startTime":1307.311,"endTime":1308.891,"body":"have"},{"startTime":1308.891,"endTime":1310.471,"body":"maybe"},{"startTime":1310.471,"endTime":1312.051,"body":"even"},{"startTime":1312.051,"endTime":1313.631,"body":"a"},{"startTime":1313.631,"endTime":1315.211,"body":"high-risk"},{"startTime":1315.211,"endTime":1316.791,"body":"budget"},{"startTime":1316.791,"endTime":1318.371,"body":"to"},{"startTime":1318.371,"endTime":1319.951,"body":"reflect"},{"startTime":1319.951,"endTime":1321.531,"body":"that"},{"startTime":1321.531,"endTime":1323.111,"body":"the"},{"startTime":1323.111,"endTime":1324.691,"body":"tagging"},{"startTime":1324.691,"endTime":1326.271,"body":"of"},{"startTime":1326.271,"endTime":1327.851,"body":"that"},{"startTime":1327.851,"endTime":1329.431,"body":"universe"},{"startTime":1329.431,"endTime":1331.011,"body":"being"},{"startTime":1331.011,"endTime":1332.591,"body":"commodities"},{"startTime":1332.591,"endTime":1334.171,"body":"is"},{"startTime":1334.171,"endTime":1335.751,"body":"not"},{"startTime":1335.751,"endTime":1337.331,"body":"as"},{"startTime":1337.331,"endTime":1338.911,"body":"similar"},{"startTime":1338.911,"endTime":1340.491,"body":"as"},{"startTime":1340.491,"endTime":1342.071,"body":"the"},{"startTime":1342.071,"endTime":1343.651,"body":"tagging"},{"startTime":1343.651,"endTime":1345.231,"body":"of"},{"startTime":1345.231,"endTime":1346.811,"body":"equities"},{"startTime":1346.811,"endTime":1348.391,"body":"being"},{"startTime":1348.391,"endTime":1349.971,"body":"equities,"},{"startTime":1349.971,"endTime":1351.551,"body":"because"},{"startTime":1351.551,"endTime":1353.131,"body":"in"},{"startTime":1353.131,"endTime":1354.711,"body":"equities"},{"startTime":1354.711,"endTime":1356.291,"body":"the"},{"startTime":1356.291,"endTime":1357.871,"body":"commonality"},{"startTime":1357.871,"endTime":1359.451,"body":"and"},{"startTime":1359.451,"endTime":1361.031,"body":"the"},{"startTime":1361.031,"endTime":1362.611,"body":"homogeneity"},{"startTime":1362.611,"endTime":1364.191,"body":"is"},{"startTime":1364.191,"endTime":1365.771,"body":"significantly"},{"startTime":1365.771,"endTime":1367.351,"body":"higher."},{"startTime":1367.351,"endTime":1368.931,"body":"So,"},{"startTime":1368.931,"endTime":1370.511,"body":"the"},{"startTime":1370.511,"endTime":1372.091,"body":"clustering"},{"startTime":1372.091,"endTime":1373.671,"body":"we"},{"startTime":1373.671,"endTime":1375.251,"body":"do"},{"startTime":1375.251,"endTime":1376.831,"body":"in"},{"startTime":1376.831,"endTime":1378.411,"body":"commodities"},{"startTime":1378.411,"endTime":1379.991,"body":"is"},{"startTime":1379.991,"endTime":1381.571,"body":"more"},{"startTime":1381.571,"endTime":1383.151,"body":"of"},{"startTime":1383.151,"endTime":1384.731,"body":"a"},{"startTime":1384.731,"endTime":1386.311,"body":"tagging"},{"startTime":1386.311,"endTime":1387.891,"body":"exercise."},{"startTime":1259.911,"endTime":1263.071,"body":"\rAndI"},{"startTime":1263.071,"endTime":1264.651,"body":"know"},{"startTime":1264.651,"endTime":1266.231,"body":"that"},{"startTime":1266.231,"endTime":1267.811,"body":"some"},{"startTime":1267.811,"endTime":1269.391,"body":"of"},{"startTime":1269.391,"endTime":1270.971,"body":"the"},{"startTime":1270.971,"endTime":1272.551,"body":"CTAs"},{"startTime":1272.551,"endTime":1274.131,"body":"would"},{"startTime":1274.131,"endTime":1275.711,"body":"think"},{"startTime":1275.711,"endTime":1277.291,"body":"of"},{"startTime":1277.291,"endTime":1278.871,"body":"commodities"},{"startTime":1278.871,"endTime":1280.451,"body":"as"},{"startTime":1280.451,"endTime":1282.031,"body":"kind"},{"startTime":1282.031,"endTime":1283.611,"body":"of"},{"startTime":1283.611,"endTime":1285.191,"body":"energy,"},{"startTime":1285.191,"endTime":1286.771,"body":"and"},{"startTime":1286.771,"endTime":1288.351,"body":"metals,"},{"startTime":1288.351,"endTime":1289.931,"body":"and"},{"startTime":1289.931,"endTime":1291.511,"body":"ags,"},{"startTime":1291.511,"endTime":1293.091,"body":"with"},{"startTime":1293.091,"endTime":1294.671,"body":"each"},{"startTime":1294.671,"endTime":1296.251,"body":"one"},{"startTime":1296.251,"endTime":1297.831,"body":"of"},{"startTime":1297.831,"endTime":1299.411,"body":"them"},{"startTime":1299.411,"endTime":1300.991,"body":"being"},{"startTime":1300.991,"endTime":1302.571,"body":"an"},{"startTime":1302.571,"endTime":1304.151,"body":"asset"},{"startTime":1304.151,"endTime":1305.731,"body":"class"},{"startTime":1305.731,"endTime":1307.311,"body":"in"},{"startTime":1307.311,"endTime":1308.891,"body":"isolation."},{"startTime":1308.891,"endTime":1310.471,"body":"So,"},{"startTime":1310.471,"endTime":1312.051,"body":"in"},{"startTime":1312.051,"endTime":1313.631,"body":"other"},{"startTime":1313.631,"endTime":1315.211,"body":"words,"},{"startTime":1315.211,"endTime":1316.791,"body":"instead"},{"startTime":1316.791,"endTime":1318.371,"body":"of"},{"startTime":1318.371,"endTime":1319.951,"body":"having"},{"startTime":1319.951,"endTime":1321.531,"body":"four"},{"startTime":1321.531,"endTime":1323.111,"body":"asset"},{"startTime":1323.111,"endTime":1324.691,"body":"classes"},{"startTime":1324.691,"endTime":1326.271,"body":"you"},{"startTime":1326.271,"endTime":1327.851,"body":"have"},{"startTime":1327.851,"endTime":1329.431,"body":"seven,"},{"startTime":1329.431,"endTime":1331.011,"body":"but"},{"startTime":1331.011,"endTime":1332.591,"body":"three"},{"startTime":1332.591,"endTime":1334.171,"body":"of"},{"startTime":1334.171,"endTime":1335.751,"body":"them"},{"startTime":1335.751,"endTime":1337.331,"body":"span"},{"startTime":1337.331,"endTime":1338.911,"body":"the"},{"startTime":1338.911,"endTime":1340.491,"body":"universe"},{"startTime":1340.491,"endTime":1342.071,"body":"of"},{"startTime":1342.071,"endTime":1343.651,"body":"commodities"},{"startTime":1343.651,"endTime":1345.231,"body":"whereas"},{"startTime":1345.231,"endTime":1346.811,"body":"the"},{"startTime":1346.811,"endTime":1348.391,"body":"correlation"},{"startTime":1348.391,"endTime":1349.971,"body":"between"},{"startTime":1349.971,"endTime":1351.551,"body":"those"},{"startTime":1351.551,"endTime":1353.131,"body":"classes"},{"startTime":1353.131,"endTime":1354.711,"body":"remains"},{"startTime":1354.711,"endTime":1356.291,"body":"as"},{"startTime":1356.291,"endTime":1357.871,"body":"low"},{"startTime":1357.871,"endTime":1359.451,"body":"as"},{"startTime":1359.451,"endTime":1361.031,"body":"it"},{"startTime":1361.031,"endTime":1362.611,"body":"is"},{"startTime":1362.611,"endTime":1364.191,"body":"between,"},{"startTime":1364.191,"endTime":1365.771,"body":"let's"},{"startTime":1365.771,"endTime":1367.351,"body":"say,"},{"startTime":1367.351,"endTime":1368.931,"body":"equities"},{"startTime":1368.931,"endTime":1370.511,"body":"and"},{"startTime":1370.511,"endTime":1372.091,"body":"currencies"},{"startTime":1372.091,"endTime":1373.671,"body":"or"},{"startTime":1373.671,"endTime":1375.251,"body":"bonds"},{"startTime":1375.251,"endTime":1376.831,"body":"and"},{"startTime":1376.831,"endTime":1378.411,"body":"ags,"},{"startTime":1378.411,"endTime":1379.991,"body":"and"},{"startTime":1379.991,"endTime":1381.571,"body":"so"},{"startTime":1381.571,"endTime":1383.151,"body":"on,"},{"startTime":1383.151,"endTime":1384.731,"body":"and"},{"startTime":1384.731,"endTime":1386.311,"body":"so"},{"startTime":1386.311,"endTime":1387.891,"body":"forth."},{"startTime":1259.911,"endTime":1262.755,"body":"\rSo,I"},{"startTime":1262.755,"endTime":1264.177,"body":"think"},{"startTime":1264.177,"endTime":1265.599,"body":"it's"},{"startTime":1265.599,"endTime":1267.021,"body":"a"},{"startTime":1267.021,"endTime":1268.443,"body":"significant"},{"startTime":1268.443,"endTime":1269.865,"body":"philosophical"},{"startTime":1269.865,"endTime":1271.287,"body":"divergence"},{"startTime":1271.287,"endTime":1272.709,"body":"between"},{"startTime":1272.709,"endTime":1274.131,"body":"models"},{"startTime":1274.131,"endTime":1275.553,"body":"that"},{"startTime":1275.553,"endTime":1276.975,"body":"is"},{"startTime":1276.975,"endTime":1278.397,"body":"not"},{"startTime":1278.397,"endTime":1279.819,"body":"heavily"},{"startTime":1279.819,"endTime":1281.241,"body":"typically"},{"startTime":1281.241,"endTime":1282.663,"body":"discussed."},{"startTime":1282.663,"endTime":1284.085,"body":"I"},{"startTime":1284.085,"endTime":1285.507,"body":"think"},{"startTime":1285.507,"endTime":1286.929,"body":"we"},{"startTime":1286.929,"endTime":1288.351,"body":"speak"},{"startTime":1288.351,"endTime":1289.773,"body":"about"},{"startTime":1289.773,"endTime":1291.195,"body":"the"},{"startTime":1291.195,"endTime":1292.617,"body":"speed,"},{"startTime":1292.617,"endTime":1294.039,"body":"and"},{"startTime":1294.039,"endTime":1295.461,"body":"the"},{"startTime":1295.461,"endTime":1296.883,"body":"risk"},{"startTime":1296.883,"endTime":1298.305,"body":"management,"},{"startTime":1298.305,"endTime":1299.727,"body":"and"},{"startTime":1299.727,"endTime":1301.149,"body":"kind"},{"startTime":1301.149,"endTime":1302.571,"body":"of"},{"startTime":1302.571,"endTime":1303.993,"body":"correlation"},{"startTime":1303.993,"endTime":1305.415,"body":"structure."},{"startTime":1305.415,"endTime":1306.837,"body":"I"},{"startTime":1306.837,"endTime":1308.259,"body":"don't"},{"startTime":1308.259,"endTime":1309.681,"body":"think"},{"startTime":1309.681,"endTime":1311.103,"body":"we"},{"startTime":1311.103,"endTime":1312.525,"body":"speak"},{"startTime":1312.525,"endTime":1313.947,"body":"too"},{"startTime":1313.947,"endTime":1315.369,"body":"often"},{"startTime":1315.369,"endTime":1316.791,"body":"as"},{"startTime":1316.791,"endTime":1318.213,"body":"to"},{"startTime":1318.213,"endTime":1319.635,"body":"how"},{"startTime":1319.635,"endTime":1321.057,"body":"many"},{"startTime":1321.057,"endTime":1322.479,"body":"or"},{"startTime":1322.479,"endTime":1323.901,"body":"in"},{"startTime":1323.901,"endTime":1325.323,"body":"what"},{"startTime":1325.323,"endTime":1326.745,"body":"context"},{"startTime":1326.745,"endTime":1328.167,"body":"commodities"},{"startTime":1328.167,"endTime":1329.589,"body":"are"},{"startTime":1329.589,"endTime":1331.011,"body":"part"},{"startTime":1331.011,"endTime":1332.433,"body":"of"},{"startTime":1332.433,"endTime":1333.855,"body":"a"},{"startTime":1333.855,"endTime":1335.277,"body":"trend"},{"startTime":1335.277,"endTime":1336.699,"body":"following"},{"startTime":1336.699,"endTime":1338.121,"body":"portfolio"},{"startTime":1338.121,"endTime":1339.543,"body":"and"},{"startTime":1339.543,"endTime":1340.965,"body":"it"},{"startTime":1340.965,"endTime":1342.387,"body":"can"},{"startTime":1342.387,"endTime":1343.809,"body":"have"},{"startTime":1343.809,"endTime":1345.231,"body":"a"},{"startTime":1345.231,"endTime":1346.653,"body":"significant"},{"startTime":1346.653,"endTime":1348.075,"body":"effect."},{"startTime":1348.075,"endTime":1349.497,"body":"And"},{"startTime":1349.497,"endTime":1350.919,"body":"specifically,"},{"startTime":1350.919,"endTime":1352.341,"body":"over"},{"startTime":1352.341,"endTime":1353.763,"body":"the"},{"startTime":1353.763,"endTime":1355.185,"body":"last"},{"startTime":1355.185,"endTime":1356.607,"body":"eight"},{"startTime":1356.607,"endTime":1358.029,"body":"months,"},{"startTime":1358.029,"endTime":1359.451,"body":"to"},{"startTime":1359.451,"endTime":1360.873,"body":"your"},{"startTime":1360.873,"endTime":1362.295,"body":"point,"},{"startTime":1362.295,"endTime":1363.717,"body":"it"},{"startTime":1363.717,"endTime":1365.139,"body":"was"},{"startTime":1365.139,"endTime":1366.561,"body":"a"},{"startTime":1366.561,"endTime":1367.983,"body":"very"},{"startTime":1367.983,"endTime":1369.405,"body":"strong"},{"startTime":1369.405,"endTime":1370.827,"body":"precious"},{"startTime":1370.827,"endTime":1372.249,"body":"metals"},{"startTime":1372.249,"endTime":1373.671,"body":"rally"},{"startTime":1373.671,"endTime":1375.093,"body":"and"},{"startTime":1375.093,"endTime":1376.515,"body":"now"},{"startTime":1376.515,"endTime":1377.937,"body":"oil"},{"startTime":1377.937,"endTime":1379.359,"body":"rally."},{"startTime":1379.359,"endTime":1380.781,"body":"So,"},{"startTime":1380.781,"endTime":1382.203,"body":"it's"},{"startTime":1382.203,"endTime":1383.625,"body":"been"},{"startTime":1383.625,"endTime":1385.047,"body":"big"},{"startTime":1385.047,"endTime":1386.469,"body":"and"},{"startTime":1386.469,"endTime":1387.891,"body":"actually…"},{"startTime":1387.921,"endTime":1391.366,"body":"I"},{"startTime":1391.366,"endTime":1394.811,"body":"would"},{"startTime":1394.811,"endTime":1398.256,"body":"say"},{"startTime":1398.256,"endTime":1401.701,"body":"probably"},{"startTime":1401.701,"endTime":1405.146,"body":"ever"},{"startTime":1405.146,"endTime":1408.591,"body":"since"},{"startTime":1408.591,"endTime":1412.036,"body":"2023"},{"startTime":1412.036,"endTime":1415.481,"body":"when"},{"startTime":1415.481,"endTime":1418.926,"body":"cocoa"},{"startTime":1418.926,"endTime":1422.371,"body":"started"},{"startTime":1422.371,"endTime":1425.816,"body":"sort"},{"startTime":1425.816,"endTime":1429.261,"body":"of"},{"startTime":1429.261,"endTime":1432.706,"body":"making"},{"startTime":1432.706,"endTime":1436.151,"body":"noises"},{"startTime":1436.151,"endTime":1439.596,"body":"in"},{"startTime":1439.596,"endTime":1443.041,"body":"the"},{"startTime":1443.041,"endTime":1446.486,"body":"portfolio,"},{"startTime":1446.486,"endTime":1449.931,"body":"and"},{"startTime":1449.931,"endTime":1453.376,"body":"then"},{"startTime":1453.376,"endTime":1456.821,"body":"came"},{"startTime":1456.821,"endTime":1460.266,"body":"coffee,"},{"startTime":1460.266,"endTime":1463.711,"body":"and"},{"startTime":1463.711,"endTime":1467.156,"body":"live"},{"startTime":1467.156,"endTime":1470.601,"body":"cattle,"},{"startTime":1470.601,"endTime":1474.046,"body":"and"},{"startTime":1474.046,"endTime":1477.491,"body":"all"},{"startTime":1477.491,"endTime":1480.936,"body":"of"},{"startTime":1480.936,"endTime":1484.381,"body":"that"},{"startTime":1484.381,"endTime":1487.826,"body":"stuff."},{"startTime":1487.826,"endTime":1491.271,"body":"So,"},{"startTime":1491.271,"endTime":1494.716,"body":"it's"},{"startTime":1494.716,"endTime":1498.161,"body":"been"},{"startTime":1498.161,"endTime":1501.606,"body":"an"},{"startTime":1501.606,"endTime":1505.051,"body":"interesting"},{"startTime":1505.051,"endTime":1508.496,"body":"period"},{"startTime":1508.496,"endTime":1511.941,"body":"for"},{"startTime":1511.941,"endTime":1515.386,"body":"sure."},{"startTime":1515.386,"endTime":1518.831,"body":"We"},{"startTime":1518.831,"endTime":1522.276,"body":"may"},{"startTime":1522.276,"endTime":1525.721,"body":"touch"},{"startTime":1525.721,"endTime":1529.166,"body":"on"},{"startTime":1529.166,"endTime":1532.611,"body":"this"},{"startTime":1532.611,"endTime":1536.056,"body":"a"},{"startTime":1536.056,"endTime":1539.501,"body":"little"},{"startTime":1539.501,"endTime":1542.946,"body":"bit"},{"startTime":1542.946,"endTime":1546.391,"body":"because"},{"startTime":1546.391,"endTime":1549.836,"body":"we"},{"startTime":1549.836,"endTime":1553.281,"body":"will"},{"startTime":1553.281,"endTime":1556.726,"body":"review"},{"startTime":1556.726,"endTime":1560.171,"body":"a"},{"startTime":1560.171,"endTime":1563.616,"body":"paper"},{"startTime":1563.616,"endTime":1567.061,"body":"that"},{"startTime":1567.061,"endTime":1570.506,"body":"talks"},{"startTime":1570.506,"endTime":1573.951,"body":"about"},{"startTime":1573.951,"endTime":1577.396,"body":"sort"},{"startTime":1577.396,"endTime":1580.841,"body":"of"},{"startTime":1580.841,"endTime":1584.286,"body":"the"},{"startTime":1584.286,"endTime":1587.731,"body":"importance"},{"startTime":1587.731,"endTime":1591.176,"body":"of"},{"startTime":1591.176,"endTime":1594.621,"body":"market"},{"startTime":1594.621,"endTime":1598.066,"body":"universe"},{"startTime":1598.066,"endTime":1601.511,"body":"for"},{"startTime":1601.511,"endTime":1604.956,"body":"sure."},{"startTime":1604.956,"endTime":1608.401,"body":"So,"},{"startTime":1608.401,"endTime":1611.846,"body":"we'll"},{"startTime":1611.846,"endTime":1615.291,"body":"probably"},{"startTime":1615.291,"endTime":1618.736,"body":"touch"},{"startTime":1618.736,"endTime":1622.181,"body":"on"},{"startTime":1622.181,"endTime":1625.626,"body":"that."},{"startTime":1387.921,"endTime":1399.809,"body":"\rSo,yeah,"},{"startTime":1399.809,"endTime":1405.753,"body":"from"},{"startTime":1405.753,"endTime":1411.697,"body":"my"},{"startTime":1411.697,"endTime":1417.641,"body":"perspective,"},{"startTime":1417.641,"endTime":1423.585,"body":"my"},{"startTime":1423.585,"endTime":1429.529,"body":"trend"},{"startTime":1429.529,"endTime":1435.473,"body":"barometer"},{"startTime":1435.473,"endTime":1441.417,"body":"finished"},{"startTime":1441.417,"endTime":1447.361,"body":"at"},{"startTime":1447.361,"endTime":1453.305,"body":"45"},{"startTime":1453.305,"endTime":1459.249,"body":"last"},{"startTime":1459.249,"endTime":1465.193,"body":"night,"},{"startTime":1465.193,"endTime":1471.137,"body":"so"},{"startTime":1471.137,"endTime":1477.081,"body":"that's"},{"startTime":1477.081,"endTime":1483.025,"body":"kind"},{"startTime":1483.025,"endTime":1488.969,"body":"of"},{"startTime":1488.969,"endTime":1494.913,"body":"neutral."},{"startTime":1494.913,"endTime":1500.857,"body":"So"},{"startTime":1500.857,"endTime":1506.801,"body":"obviously"},{"startTime":1506.801,"endTime":1512.745,"body":"not"},{"startTime":1512.745,"endTime":1518.689,"body":"really"},{"startTime":1518.689,"endTime":1524.633,"body":"showing"},{"startTime":1524.633,"endTime":1530.577,"body":"any"},{"startTime":1530.577,"endTime":1536.521,"body":"signs"},{"startTime":1536.521,"endTime":1542.465,"body":"of"},{"startTime":1542.465,"endTime":1548.409,"body":"stress"},{"startTime":1548.409,"endTime":1554.353,"body":"even"},{"startTime":1554.353,"endTime":1560.297,"body":"though"},{"startTime":1560.297,"endTime":1566.241,"body":"performance"},{"startTime":1566.241,"endTime":1572.185,"body":"is"},{"startTime":1572.185,"endTime":1578.129,"body":"probably"},{"startTime":1578.129,"endTime":1584.073,"body":"down"},{"startTime":1584.073,"endTime":1590.017,"body":"a"},{"startTime":1590.017,"endTime":1595.961,"body":"little"},{"startTime":1595.961,"endTime":1601.905,"body":"bit"},{"startTime":1601.905,"endTime":1607.849,"body":"so"},{"startTime":1607.849,"endTime":1613.793,"body":"far"},{"startTime":1613.793,"endTime":1619.737,"body":"this"},{"startTime":1619.737,"endTime":1625.681,"body":"month."},{"startTime":1387.921,"endTime":1397.065,"body":"\rNothingmajor"},{"startTime":1397.065,"endTime":1401.637,"body":"in"},{"startTime":1401.637,"endTime":1406.209,"body":"terms"},{"startTime":1406.209,"endTime":1410.781,"body":"of"},{"startTime":1410.781,"endTime":1415.353,"body":"changes,"},{"startTime":1415.353,"endTime":1419.925,"body":"as"},{"startTime":1419.925,"endTime":1424.497,"body":"I"},{"startTime":1424.497,"endTime":1429.069,"body":"can"},{"startTime":1429.069,"endTime":1433.641,"body":"tell,"},{"startTime":1433.641,"endTime":1438.213,"body":"exposure"},{"startTime":1438.213,"endTime":1442.785,"body":"wise,"},{"startTime":1442.785,"endTime":1447.357,"body":"just"},{"startTime":1447.357,"endTime":1451.929,"body":"yet."},{"startTime":1451.929,"endTime":1456.501,"body":"So,"},{"startTime":1456.501,"endTime":1461.073,"body":"no"},{"startTime":1461.073,"endTime":1465.645,"body":"real"},{"startTime":1465.645,"endTime":1470.217,"body":"changes"},{"startTime":1470.217,"endTime":1474.789,"body":"of"},{"startTime":1474.789,"endTime":1479.361,"body":"sector"},{"startTime":1479.361,"endTime":1483.933,"body":"exposure"},{"startTime":1483.933,"endTime":1488.505,"body":"perhaps,"},{"startTime":1488.505,"endTime":1493.077,"body":"maybe"},{"startTime":1493.077,"endTime":1497.649,"body":"fixed"},{"startTime":1497.649,"endTime":1502.221,"body":"income"},{"startTime":1502.221,"endTime":1506.793,"body":"being"},{"startTime":1506.793,"endTime":1511.365,"body":"one"},{"startTime":1511.365,"endTime":1515.937,"body":"where"},{"startTime":1515.937,"endTime":1520.509,"body":"we"},{"startTime":1520.509,"endTime":1525.081,"body":"may"},{"startTime":1525.081,"endTime":1529.653,"body":"see"},{"startTime":1529.653,"endTime":1534.225,"body":"some"},{"startTime":1534.225,"endTime":1538.797,"body":"changes"},{"startTime":1538.797,"endTime":1543.369,"body":"soon."},{"startTime":1543.369,"endTime":1547.941,"body":"I"},{"startTime":1547.941,"endTime":1552.513,"body":"have"},{"startTime":1552.513,"endTime":1557.085,"body":"seen"},{"startTime":1557.085,"endTime":1561.657,"body":"some"},{"startTime":1561.657,"endTime":1566.229,"body":"markets,"},{"startTime":1566.229,"endTime":1570.801,"body":"you"},{"startTime":1570.801,"endTime":1575.373,"body":"know,"},{"startTime":1575.373,"endTime":1579.945,"body":"going"},{"startTime":1579.945,"endTime":1584.517,"body":"from"},{"startTime":1584.517,"endTime":1589.089,"body":"long"},{"startTime":1589.089,"endTime":1593.661,"body":"to"},{"startTime":1593.661,"endTime":1598.233,"body":"short,"},{"startTime":1598.233,"endTime":1602.805,"body":"or"},{"startTime":1602.805,"endTime":1607.377,"body":"some"},{"startTime":1607.377,"endTime":1611.949,"body":"more"},{"startTime":1611.949,"endTime":1616.521,"body":"markets"},{"startTime":1616.521,"endTime":1621.093,"body":"for"},{"startTime":1621.093,"endTime":1625.665,"body":"sure."},{"startTime":1387.921,"endTime":1392.823,"body":"\rButanyways,"},{"startTime":1392.823,"endTime":1395.274,"body":"performance"},{"startTime":1395.274,"endTime":1397.725,"body":"wise,"},{"startTime":1397.725,"endTime":1400.176,"body":"as"},{"startTime":1400.176,"endTime":1402.627,"body":"of"},{"startTime":1402.627,"endTime":1405.078,"body":"Tuesday"},{"startTime":1405.078,"endTime":1407.529,"body":"this"},{"startTime":1407.529,"endTime":1409.98,"body":"week,"},{"startTime":1409.98,"endTime":1412.431,"body":"yesterday,"},{"startTime":1412.431,"endTime":1414.882,"body":"I"},{"startTime":1414.882,"endTime":1417.333,"body":"should"},{"startTime":1417.333,"endTime":1419.784,"body":"say,"},{"startTime":1419.784,"endTime":1422.235,"body":"was"},{"startTime":1422.235,"endTime":1424.686,"body":"probably"},{"startTime":1424.686,"endTime":1427.137,"body":"a"},{"startTime":1427.137,"endTime":1429.588,"body":"negative"},{"startTime":1429.588,"endTime":1432.039,"body":"day"},{"startTime":1432.039,"endTime":1434.49,"body":"for"},{"startTime":1434.49,"endTime":1436.941,"body":"sure"},{"startTime":1436.941,"endTime":1439.392,"body":"for"},{"startTime":1439.392,"endTime":1441.843,"body":"the"},{"startTime":1441.843,"endTime":1444.294,"body":"industry."},{"startTime":1444.294,"endTime":1446.745,"body":"I'm"},{"startTime":1446.745,"endTime":1449.196,"body":"pretty"},{"startTime":1449.196,"endTime":1451.647,"body":"sure"},{"startTime":1451.647,"endTime":1454.098,"body":"of"},{"startTime":1454.098,"endTime":1456.549,"body":"that."},{"startTime":1456.549,"endTime":1459,"body":"But"},{"startTime":1459,"endTime":1461.451,"body":"before"},{"startTime":1461.451,"endTime":1463.902,"body":"that"},{"startTime":1463.902,"endTime":1466.353,"body":"on"},{"startTime":1466.353,"endTime":1468.804,"body":"Tuesday"},{"startTime":1468.804,"endTime":1471.255,"body":"the"},{"startTime":1471.255,"endTime":1473.706,"body":"BTOP50"},{"startTime":1473.706,"endTime":1476.157,"body":"index…"},{"startTime":1476.157,"endTime":1478.608,"body":"Sorry"},{"startTime":1478.608,"endTime":1481.059,"body":"the"},{"startTime":1481.059,"endTime":1483.51,"body":"SGCTA"},{"startTime":1483.51,"endTime":1485.961,"body":"index"},{"startTime":1485.961,"endTime":1488.412,"body":"was"},{"startTime":1488.412,"endTime":1490.863,"body":"down"},{"startTime":1490.863,"endTime":1493.314,"body":"1.38%"},{"startTime":1493.314,"endTime":1495.765,"body":"for"},{"startTime":1495.765,"endTime":1498.216,"body":"the"},{"startTime":1498.216,"endTime":1500.667,"body":"month,"},{"startTime":1500.667,"endTime":1503.118,"body":"up"},{"startTime":1503.118,"endTime":1505.569,"body":"6.82%"},{"startTime":1505.569,"endTime":1508.02,"body":"so"},{"startTime":1508.02,"endTime":1510.471,"body":"far"},{"startTime":1510.471,"endTime":1512.922,"body":"this"},{"startTime":1512.922,"endTime":1515.373,"body":"year."},{"startTime":1515.373,"endTime":1517.824,"body":"SocGen"},{"startTime":1517.824,"endTime":1520.275,"body":"Trend"},{"startTime":1520.275,"endTime":1522.726,"body":"down"},{"startTime":1522.726,"endTime":1525.177,"body":"1.77%"},{"startTime":1525.177,"endTime":1527.628,"body":"for"},{"startTime":1527.628,"endTime":1530.079,"body":"the"},{"startTime":1530.079,"endTime":1532.53,"body":"month,"},{"startTime":1532.53,"endTime":1534.981,"body":"up"},{"startTime":1534.981,"endTime":1537.432,"body":"6.87%"},{"startTime":1537.432,"endTime":1539.883,"body":"for"},{"startTime":1539.883,"endTime":1542.334,"body":"the"},{"startTime":1542.334,"endTime":1544.785,"body":"year"},{"startTime":1544.785,"endTime":1547.236,"body":"and"},{"startTime":1547.236,"endTime":1549.687,"body":"the"},{"startTime":1549.687,"endTime":1552.138,"body":"Short-Term"},{"startTime":1552.138,"endTime":1554.589,"body":"Traders"},{"startTime":1554.589,"endTime":1557.04,"body":"Index,"},{"startTime":1557.04,"endTime":1559.491,"body":"as"},{"startTime":1559.491,"endTime":1561.942,"body":"you"},{"startTime":1561.942,"endTime":1564.393,"body":"suggested,"},{"startTime":1564.393,"endTime":1566.844,"body":"down"},{"startTime":1566.844,"endTime":1569.295,"body":"just"},{"startTime":1569.295,"endTime":1571.746,"body":"a"},{"startTime":1571.746,"endTime":1574.197,"body":"little"},{"startTime":1574.197,"endTime":1576.648,"body":"bit,"},{"startTime":1576.648,"endTime":1579.099,"body":"a"},{"startTime":1579.099,"endTime":1581.55,"body":"quarter"},{"startTime":1581.55,"endTime":1584.001,"body":"of"},{"startTime":1584.001,"endTime":1586.452,"body":"a"},{"startTime":1586.452,"endTime":1588.903,"body":"percent,"},{"startTime":1588.903,"endTime":1591.354,"body":"not"},{"startTime":1591.354,"endTime":1593.805,"body":"quite"},{"startTime":1593.805,"endTime":1596.256,"body":"keeping"},{"startTime":1596.256,"endTime":1598.707,"body":"up"},{"startTime":1598.707,"endTime":1601.158,"body":"for"},{"startTime":1601.158,"endTime":1603.609,"body":"the"},{"startTime":1603.609,"endTime":1606.06,"body":"year,"},{"startTime":1606.06,"endTime":1608.511,"body":"up"},{"startTime":1608.511,"endTime":1610.962,"body":"3.55%"},{"startTime":1610.962,"endTime":1613.413,"body":"but"},{"startTime":1613.413,"endTime":1615.864,"body":"still"},{"startTime":1615.864,"endTime":1618.315,"body":"doing"},{"startTime":1618.315,"endTime":1620.766,"body":"better"},{"startTime":1620.766,"endTime":1623.217,"body":"in"},{"startTime":1623.217,"endTime":1625.668,"body":"March."},{"startTime":1387.921,"endTime":1394.617,"body":"\rMSCIWorld,"},{"startTime":1394.617,"endTime":1397.965,"body":"on"},{"startTime":1397.965,"endTime":1401.313,"body":"the"},{"startTime":1401.313,"endTime":1404.661,"body":"other"},{"startTime":1404.661,"endTime":1408.009,"body":"hand,"},{"startTime":1408.009,"endTime":1411.357,"body":"having"},{"startTime":1411.357,"endTime":1414.705,"body":"a"},{"startTime":1414.705,"endTime":1418.053,"body":"tougher"},{"startTime":1418.053,"endTime":1421.401,"body":"time,"},{"startTime":1421.401,"endTime":1424.749,"body":"down"},{"startTime":1424.749,"endTime":1428.097,"body":"4.64%"},{"startTime":1428.097,"endTime":1431.445,"body":"so"},{"startTime":1431.445,"endTime":1434.793,"body":"far"},{"startTime":1434.793,"endTime":1438.141,"body":"this"},{"startTime":1438.141,"endTime":1441.489,"body":"month,"},{"startTime":1441.489,"endTime":1444.837,"body":"down"},{"startTime":1444.837,"endTime":1448.185,"body":"now"},{"startTime":1448.185,"endTime":1451.533,"body":"for"},{"startTime":1451.533,"endTime":1454.881,"body":"the"},{"startTime":1454.881,"endTime":1458.229,"body":"year"},{"startTime":1458.229,"endTime":1461.577,"body":"1.34%."},{"startTime":1461.577,"endTime":1464.925,"body":"The"},{"startTime":1464.925,"endTime":1468.273,"body":"US"},{"startTime":1468.273,"endTime":1471.621,"body":"Aggregate"},{"startTime":1471.621,"endTime":1474.969,"body":"Bond"},{"startTime":1474.969,"endTime":1478.317,"body":"index"},{"startTime":1478.317,"endTime":1481.665,"body":"also"},{"startTime":1481.665,"endTime":1485.013,"body":"no"},{"startTime":1485.013,"endTime":1488.361,"body":"diversification"},{"startTime":1488.361,"endTime":1491.709,"body":"benefit"},{"startTime":1491.709,"endTime":1495.057,"body":"there,"},{"startTime":1495.057,"endTime":1498.405,"body":"down"},{"startTime":1498.405,"endTime":1501.753,"body":"1"},{"startTime":1501.753,"endTime":1505.101,"body":"1/2%"},{"startTime":1505.101,"endTime":1508.449,"body":"in"},{"startTime":1508.449,"endTime":1511.797,"body":"March,"},{"startTime":1511.797,"endTime":1515.145,"body":"up"},{"startTime":1515.145,"endTime":1518.493,"body":"17"},{"startTime":1518.493,"endTime":1521.841,"body":"basis"},{"startTime":1521.841,"endTime":1525.189,"body":"points"},{"startTime":1525.189,"endTime":1528.537,"body":"though"},{"startTime":1528.537,"endTime":1531.885,"body":"for"},{"startTime":1531.885,"endTime":1535.233,"body":"the"},{"startTime":1535.233,"endTime":1538.581,"body":"year."},{"startTime":1538.581,"endTime":1541.929,"body":"And"},{"startTime":1541.929,"endTime":1545.277,"body":"the"},{"startTime":1545.277,"endTime":1548.625,"body":"S&P"},{"startTime":1548.625,"endTime":1551.973,"body":"500"},{"startTime":1551.973,"endTime":1555.321,"body":"Total"},{"startTime":1555.321,"endTime":1558.669,"body":"Return"},{"startTime":1558.669,"endTime":1562.017,"body":"down"},{"startTime":1562.017,"endTime":1565.365,"body":"3.61%"},{"startTime":1565.365,"endTime":1568.713,"body":"as"},{"startTime":1568.713,"endTime":1572.061,"body":"of"},{"startTime":1572.061,"endTime":1575.409,"body":"last"},{"startTime":1575.409,"endTime":1578.757,"body":"night,"},{"startTime":1578.757,"endTime":1582.105,"body":"up"},{"startTime":1582.105,"endTime":1585.453,"body":"almost"},{"startTime":1585.453,"endTime":1588.801,"body":"3%..."},{"startTime":1588.801,"endTime":1592.149,"body":"sorry,"},{"startTime":1592.149,"endTime":1595.497,"body":"down"},{"startTime":1595.497,"endTime":1598.845,"body":"almost"},{"startTime":1598.845,"endTime":1602.193,"body":"3%"},{"startTime":1602.193,"endTime":1605.541,"body":"I"},{"startTime":1605.541,"endTime":1608.889,"body":"should"},{"startTime":1608.889,"endTime":1612.237,"body":"say,"},{"startTime":1612.237,"endTime":1615.585,"body":"so"},{"startTime":1615.585,"endTime":1618.933,"body":"far"},{"startTime":1618.933,"endTime":1622.281,"body":"this"},{"startTime":1622.281,"endTime":1625.629,"body":"year."},{"startTime":1387.921,"endTime":1411.697,"body":"\rBeforewe"},{"startTime":1411.697,"endTime":1423.585,"body":"jump"},{"startTime":1423.585,"endTime":1435.473,"body":"into"},{"startTime":1435.473,"endTime":1447.361,"body":"the"},{"startTime":1447.361,"endTime":1459.249,"body":"topics,"},{"startTime":1459.249,"endTime":1471.137,"body":"we"},{"startTime":1471.137,"endTime":1483.025,"body":"have"},{"startTime":1483.025,"endTime":1494.913,"body":"a"},{"startTime":1494.913,"endTime":1506.801,"body":"couple"},{"startTime":1506.801,"endTime":1518.689,"body":"of"},{"startTime":1518.689,"endTime":1530.577,"body":"questions"},{"startTime":1530.577,"endTime":1542.465,"body":"from"},{"startTime":1542.465,"endTime":1554.353,"body":"Tim"},{"startTime":1554.353,"endTime":1566.241,"body":"that"},{"startTime":1566.241,"endTime":1578.129,"body":"we're"},{"startTime":1578.129,"endTime":1590.017,"body":"going"},{"startTime":1590.017,"endTime":1601.905,"body":"to"},{"startTime":1601.905,"endTime":1613.793,"body":"deal"},{"startTime":1613.793,"endTime":1625.681,"body":"with."},{"startTime":1387.921,"endTime":1393.791,"body":"\rButbefore"},{"startTime":1393.791,"endTime":1396.726,"body":"I"},{"startTime":1396.726,"endTime":1399.661,"body":"do"},{"startTime":1399.661,"endTime":1402.596,"body":"that,"},{"startTime":1402.596,"endTime":1405.531,"body":"I"},{"startTime":1405.531,"endTime":1408.466,"body":"just"},{"startTime":1408.466,"endTime":1411.401,"body":"want"},{"startTime":1411.401,"endTime":1414.336,"body":"to"},{"startTime":1414.336,"endTime":1417.271,"body":"mention"},{"startTime":1417.271,"endTime":1420.206,"body":"to"},{"startTime":1420.206,"endTime":1423.141,"body":"everyone"},{"startTime":1423.141,"endTime":1426.076,"body":"that"},{"startTime":1426.076,"endTime":1429.011,"body":"if"},{"startTime":1429.011,"endTime":1431.946,"body":"they"},{"startTime":1431.946,"endTime":1434.881,"body":"haven't"},{"startTime":1434.881,"endTime":1437.816,"body":"been"},{"startTime":1437.816,"endTime":1440.751,"body":"on"},{"startTime":1440.751,"endTime":1443.686,"body":"the"},{"startTime":1443.686,"endTime":1446.621,"body":"website"},{"startTime":1446.621,"endTime":1449.556,"body":"recently,"},{"startTime":1449.556,"endTime":1452.491,"body":"there"},{"startTime":1452.491,"endTime":1455.426,"body":"is"},{"startTime":1455.426,"endTime":1458.361,"body":"a"},{"startTime":1458.361,"endTime":1461.296,"body":"new"},{"startTime":1461.296,"endTime":1464.231,"body":"version"},{"startTime":1464.231,"endTime":1467.166,"body":"of"},{"startTime":1467.166,"endTime":1470.101,"body":"what"},{"startTime":1470.101,"endTime":1473.036,"body":"we"},{"startTime":1473.036,"endTime":1475.971,"body":"call"},{"startTime":1475.971,"endTime":1478.906,"body":"the"},{"startTime":1478.906,"endTime":1481.841,"body":"Top"},{"startTime":1481.841,"endTime":1484.776,"body":"Traders"},{"startTime":1484.776,"endTime":1487.711,"body":"Ultimate"},{"startTime":1487.711,"endTime":1490.646,"body":"Guide"},{"startTime":1490.646,"endTime":1493.581,"body":"and"},{"startTime":1493.581,"endTime":1496.516,"body":"that's"},{"startTime":1496.516,"endTime":1499.451,"body":"essentially"},{"startTime":1499.451,"endTime":1502.386,"body":"a"},{"startTime":1502.386,"endTime":1505.321,"body":"guide"},{"startTime":1505.321,"endTime":1508.256,"body":"to"},{"startTime":1508.256,"endTime":1511.191,"body":"about"},{"startTime":1511.191,"endTime":1514.126,"body":"600"},{"startTime":1514.126,"endTime":1517.061,"body":"books"},{"startTime":1517.061,"endTime":1519.996,"body":"now"},{"startTime":1519.996,"endTime":1522.931,"body":"and"},{"startTime":1522.931,"endTime":1525.866,"body":"hopefully"},{"startTime":1525.866,"endTime":1528.801,"body":"there"},{"startTime":1528.801,"endTime":1531.736,"body":"will"},{"startTime":1531.736,"endTime":1534.671,"body":"be"},{"startTime":1534.671,"endTime":1537.606,"body":"some"},{"startTime":1537.606,"endTime":1540.541,"body":"of"},{"startTime":1540.541,"endTime":1543.476,"body":"those"},{"startTime":1543.476,"endTime":1546.411,"body":"that"},{"startTime":1546.411,"endTime":1549.346,"body":"will"},{"startTime":1549.346,"endTime":1552.281,"body":"be"},{"startTime":1552.281,"endTime":1555.216,"body":"inspirational"},{"startTime":1555.216,"endTime":1558.151,"body":"and"},{"startTime":1558.151,"endTime":1561.086,"body":"we"},{"startTime":1561.086,"endTime":1564.021,"body":"put"},{"startTime":1564.021,"endTime":1566.956,"body":"it"},{"startTime":1566.956,"endTime":1569.891,"body":"all"},{"startTime":1569.891,"endTime":1572.826,"body":"together"},{"startTime":1572.826,"endTime":1575.761,"body":"in"},{"startTime":1575.761,"endTime":1578.696,"body":"one"},{"startTime":1578.696,"endTime":1581.631,"body":"resource."},{"startTime":1581.631,"endTime":1584.566,"body":"So,"},{"startTime":1584.566,"endTime":1587.501,"body":"you"},{"startTime":1587.501,"endTime":1590.436,"body":"can"},{"startTime":1590.436,"endTime":1593.371,"body":"go"},{"startTime":1593.371,"endTime":1596.306,"body":"to"},{"startTime":1596.306,"endTime":1599.241,"body":"toptradersunplugged.com/ultimate"},{"startTime":1599.241,"endTime":1602.176,"body":"and"},{"startTime":1602.176,"endTime":1605.111,"body":"then"},{"startTime":1605.111,"endTime":1608.046,"body":"you"},{"startTime":1608.046,"endTime":1610.981,"body":"can"},{"startTime":1610.981,"endTime":1613.916,"body":"get"},{"startTime":1613.916,"endTime":1616.851,"body":"the"},{"startTime":1616.851,"endTime":1619.786,"body":"guide"},{"startTime":1619.786,"endTime":1622.721,"body":"for"},{"startTime":1622.721,"endTime":1625.656,"body":"free."},{"startTime":1387.921,"endTime":1400.113,"body":"\rAnyways,Tim,"},{"startTime":1400.113,"endTime":1406.209,"body":"who"},{"startTime":1406.209,"endTime":1412.305,"body":"has"},{"startTime":1412.305,"endTime":1418.401,"body":"been"},{"startTime":1418.401,"endTime":1424.497,"body":"following"},{"startTime":1424.497,"endTime":1430.593,"body":"the"},{"startTime":1430.593,"endTime":1436.689,"body":"podcast"},{"startTime":1436.689,"endTime":1442.785,"body":"for"},{"startTime":1442.785,"endTime":1448.881,"body":"a"},{"startTime":1448.881,"endTime":1454.977,"body":"long"},{"startTime":1454.977,"endTime":1461.073,"body":"time"},{"startTime":1461.073,"endTime":1467.169,"body":"and"},{"startTime":1467.169,"endTime":1473.265,"body":"is"},{"startTime":1473.265,"endTime":1479.361,"body":"very"},{"startTime":1479.361,"endTime":1485.457,"body":"kind"},{"startTime":1485.457,"endTime":1491.553,"body":"to"},{"startTime":1491.553,"endTime":1497.649,"body":"share"},{"startTime":1497.649,"endTime":1503.745,"body":"and"},{"startTime":1503.745,"endTime":1509.841,"body":"like"},{"startTime":1509.841,"endTime":1515.937,"body":"our"},{"startTime":1515.937,"endTime":1522.033,"body":"content"},{"startTime":1522.033,"endTime":1528.129,"body":"on"},{"startTime":1528.129,"endTime":1534.225,"body":"social"},{"startTime":1534.225,"endTime":1540.321,"body":"media,"},{"startTime":1540.321,"endTime":1546.417,"body":"sent"},{"startTime":1546.417,"endTime":1552.513,"body":"a"},{"startTime":1552.513,"endTime":1558.609,"body":"couple"},{"startTime":1558.609,"endTime":1564.705,"body":"of"},{"startTime":1564.705,"endTime":1570.801,"body":"questions"},{"startTime":1570.801,"endTime":1576.897,"body":"in"},{"startTime":1576.897,"endTime":1582.993,"body":"and"},{"startTime":1582.993,"endTime":1589.089,"body":"I"},{"startTime":1589.089,"endTime":1595.185,"body":"think"},{"startTime":1595.185,"endTime":1601.281,"body":"it's"},{"startTime":1601.281,"endTime":1607.377,"body":"quite"},{"startTime":1607.377,"endTime":1613.473,"body":"an"},{"startTime":1613.473,"endTime":1619.569,"body":"interesting"},{"startTime":1619.569,"endTime":1625.665,"body":"question."},{"startTime":1387.921,"endTime":1394.617,"body":"\rSo,he"},{"startTime":1394.617,"endTime":1397.965,"body":"writes,"},{"startTime":1397.965,"endTime":1401.313,"body":"“The"},{"startTime":1401.313,"endTime":1404.661,"body":"options"},{"startTime":1404.661,"endTime":1408.009,"body":"markets"},{"startTime":1408.009,"endTime":1411.357,"body":"have"},{"startTime":1411.357,"endTime":1414.705,"body":"experienced"},{"startTime":1414.705,"endTime":1418.053,"body":"incredible"},{"startTime":1418.053,"endTime":1421.401,"body":"growth"},{"startTime":1421.401,"endTime":1424.749,"body":"in"},{"startTime":1424.749,"endTime":1428.097,"body":"recent"},{"startTime":1428.097,"endTime":1431.445,"body":"years,"},{"startTime":1431.445,"endTime":1434.793,"body":"especially"},{"startTime":1434.793,"endTime":1438.141,"body":"post"},{"startTime":1438.141,"endTime":1441.489,"body":"COVID"},{"startTime":1441.489,"endTime":1444.837,"body":"and"},{"startTime":1444.837,"endTime":1448.185,"body":"the"},{"startTime":1448.185,"endTime":1451.533,"body":"widespread"},{"startTime":1451.533,"endTime":1454.881,"body":"of"},{"startTime":1454.881,"endTime":1458.229,"body":"use"},{"startTime":1458.229,"endTime":1461.577,"body":"of"},{"startTime":1461.577,"endTime":1464.925,"body":"zero"},{"startTime":1464.925,"endTime":1468.273,"body":"day"},{"startTime":1468.273,"endTime":1471.621,"body":"options."},{"startTime":1471.621,"endTime":1474.969,"body":"Trend"},{"startTime":1474.969,"endTime":1478.317,"body":"followers"},{"startTime":1478.317,"endTime":1481.665,"body":"mostly"},{"startTime":1481.665,"endTime":1485.013,"body":"only"},{"startTime":1485.013,"endTime":1488.361,"body":"use"},{"startTime":1488.361,"endTime":1491.709,"body":"futures"},{"startTime":1491.709,"endTime":1495.057,"body":"price"},{"startTime":1495.057,"endTime":1498.405,"body":"data"},{"startTime":1498.405,"endTime":1501.753,"body":"as"},{"startTime":1501.753,"endTime":1505.101,"body":"their"},{"startTime":1505.101,"endTime":1508.449,"body":"inputs"},{"startTime":1508.449,"endTime":1511.797,"body":"to"},{"startTime":1511.797,"endTime":1515.145,"body":"their"},{"startTime":1515.145,"endTime":1518.493,"body":"models."},{"startTime":1518.493,"endTime":1521.841,"body":"Have"},{"startTime":1521.841,"endTime":1525.189,"body":"we"},{"startTime":1525.189,"endTime":1528.537,"body":"reached"},{"startTime":1528.537,"endTime":1531.885,"body":"a"},{"startTime":1531.885,"endTime":1535.233,"body":"point"},{"startTime":1535.233,"endTime":1538.581,"body":"or"},{"startTime":1538.581,"endTime":1541.929,"body":"will"},{"startTime":1541.929,"endTime":1545.277,"body":"we"},{"startTime":1545.277,"endTime":1548.625,"body":"reach"},{"startTime":1548.625,"endTime":1551.973,"body":"a"},{"startTime":1551.973,"endTime":1555.321,"body":"point"},{"startTime":1555.321,"endTime":1558.669,"body":"in"},{"startTime":1558.669,"endTime":1562.017,"body":"the"},{"startTime":1562.017,"endTime":1565.365,"body":"near"},{"startTime":1565.365,"endTime":1568.713,"body":"future"},{"startTime":1568.713,"endTime":1572.061,"body":"where"},{"startTime":1572.061,"endTime":1575.409,"body":"trend"},{"startTime":1575.409,"endTime":1578.757,"body":"followers"},{"startTime":1578.757,"endTime":1582.105,"body":"should"},{"startTime":1582.105,"endTime":1585.453,"body":"be"},{"startTime":1585.453,"endTime":1588.801,"body":"looking"},{"startTime":1588.801,"endTime":1592.149,"body":"more"},{"startTime":1592.149,"endTime":1595.497,"body":"closely"},{"startTime":1595.497,"endTime":1598.845,"body":"at"},{"startTime":1598.845,"endTime":1602.193,"body":"the"},{"startTime":1602.193,"endTime":1605.541,"body":"option"},{"startTime":1605.541,"endTime":1608.889,"body":"markets"},{"startTime":1608.889,"endTime":1612.237,"body":"and"},{"startTime":1612.237,"endTime":1615.585,"body":"the"},{"startTime":1615.585,"endTime":1618.933,"body":"information"},{"startTime":1618.933,"endTime":1622.281,"body":"within"},{"startTime":1622.281,"endTime":1625.629,"body":"those?”"},{"startTime":1387.921,"endTime":1400.773,"body":"\rAndthen"},{"startTime":1400.773,"endTime":1407.199,"body":"he"},{"startTime":1407.199,"endTime":1413.625,"body":"says,"},{"startTime":1413.625,"endTime":1420.051,"body":"as"},{"startTime":1420.051,"endTime":1426.477,"body":"a"},{"startTime":1426.477,"endTime":1432.903,"body":"follow"},{"startTime":1432.903,"endTime":1439.329,"body":"up"},{"startTime":1439.329,"endTime":1445.755,"body":"question,"},{"startTime":1445.755,"endTime":1452.181,"body":"Do"},{"startTime":1452.181,"endTime":1458.607,"body":"you"},{"startTime":1458.607,"endTime":1465.033,"body":"think"},{"startTime":1465.033,"endTime":1471.459,"body":"that"},{"startTime":1471.459,"endTime":1477.885,"body":"by"},{"startTime":1477.885,"endTime":1484.311,"body":"ignoring"},{"startTime":1484.311,"endTime":1490.737,"body":"options"},{"startTime":1490.737,"endTime":1497.163,"body":"data"},{"startTime":1497.163,"endTime":1503.589,"body":"the"},{"startTime":1503.589,"endTime":1510.015,"body":"performance"},{"startTime":1510.015,"endTime":1516.441,"body":"of"},{"startTime":1516.441,"endTime":1522.867,"body":"existing"},{"startTime":1522.867,"endTime":1529.293,"body":"trend"},{"startTime":1529.293,"endTime":1535.719,"body":"following"},{"startTime":1535.719,"endTime":1542.145,"body":"models"},{"startTime":1542.145,"endTime":1548.571,"body":"could"},{"startTime":1548.571,"endTime":1554.997,"body":"deteriorate"},{"startTime":1554.997,"endTime":1561.423,"body":"or"},{"startTime":1561.423,"endTime":1567.849,"body":"that"},{"startTime":1567.849,"endTime":1574.275,"body":"incorporating"},{"startTime":1574.275,"endTime":1580.701,"body":"options"},{"startTime":1580.701,"endTime":1587.127,"body":"information"},{"startTime":1587.127,"endTime":1593.553,"body":"would"},{"startTime":1593.553,"endTime":1599.979,"body":"produce"},{"startTime":1599.979,"endTime":1606.405,"body":"improvements"},{"startTime":1606.405,"endTime":1612.831,"body":"on"},{"startTime":1612.831,"endTime":1619.257,"body":"existing"},{"startTime":1619.257,"endTime":1625.683,"body":"models?”"},{"startTime":1387.921,"endTime":1447.363,"body":"\rSo,who"},{"startTime":1447.363,"endTime":1477.084,"body":"better"},{"startTime":1477.084,"endTime":1506.805,"body":"to"},{"startTime":1506.805,"endTime":1536.526,"body":"ask"},{"startTime":1536.526,"endTime":1566.247,"body":"than"},{"startTime":1566.247,"endTime":1595.968,"body":"you,"},{"startTime":1595.968,"endTime":1625.689,"body":"Nick?"},{"startTime":1627.451,"endTime":1633.659,"body":"Okay,"},{"startTime":1633.659,"endTime":1639.867,"body":"I"},{"startTime":1639.867,"endTime":1646.075,"body":"would"},{"startTime":1646.075,"endTime":1652.283,"body":"need"},{"startTime":1652.283,"endTime":1658.491,"body":"Cem"},{"startTime":1658.491,"endTime":1664.699,"body":"on"},{"startTime":1664.699,"endTime":1670.907,"body":"this"},{"startTime":1670.907,"endTime":1677.115,"body":"one"},{"startTime":1677.115,"endTime":1683.323,"body":"but"},{"startTime":1683.323,"endTime":1689.531,"body":"I'll"},{"startTime":1689.531,"endTime":1695.739,"body":"give"},{"startTime":1695.739,"endTime":1701.947,"body":"it"},{"startTime":1701.947,"endTime":1708.155,"body":"a"},{"startTime":1708.155,"endTime":1714.363,"body":"go."},{"startTime":1714.363,"endTime":1720.571,"body":"I'll"},{"startTime":1720.571,"endTime":1726.779,"body":"give"},{"startTime":1726.779,"endTime":1732.987,"body":"it"},{"startTime":1732.987,"endTime":1739.195,"body":"a"},{"startTime":1739.195,"endTime":1745.403,"body":"go."},{"startTime":1745.403,"endTime":1751.611,"body":"I'll"},{"startTime":1751.611,"endTime":1757.819,"body":"give"},{"startTime":1757.819,"endTime":1764.027,"body":"it"},{"startTime":1764.027,"endTime":1770.235,"body":"a"},{"startTime":1770.235,"endTime":1776.443,"body":"go."},{"startTime":1776.443,"endTime":1782.651,"body":"I"},{"startTime":1782.651,"endTime":1788.859,"body":"mean"},{"startTime":1788.859,"endTime":1795.067,"body":"the"},{"startTime":1795.067,"endTime":1801.275,"body":"observation"},{"startTime":1801.275,"endTime":1807.483,"body":"that"},{"startTime":1807.483,"endTime":1813.691,"body":"options"},{"startTime":1813.691,"endTime":1819.899,"body":"markets"},{"startTime":1819.899,"endTime":1826.107,"body":"have"},{"startTime":1826.107,"endTime":1832.315,"body":"become,"},{"startTime":1832.315,"endTime":1838.523,"body":"to"},{"startTime":1838.523,"endTime":1844.731,"body":"a"},{"startTime":1844.731,"endTime":1850.939,"body":"good"},{"startTime":1850.939,"endTime":1857.147,"body":"extent,"},{"startTime":1857.147,"endTime":1863.355,"body":"dominated"},{"startTime":1863.355,"endTime":1869.563,"body":"by"},{"startTime":1869.563,"endTime":1875.771,"body":"the"},{"startTime":1875.771,"endTime":1881.979,"body":"zero"},{"startTime":1881.979,"endTime":1888.187,"body":"DTE"},{"startTime":1888.187,"endTime":1894.395,"body":"is"},{"startTime":1894.395,"endTime":1900.603,"body":"not"},{"startTime":1900.603,"endTime":1906.811,"body":"just"},{"startTime":1906.811,"endTime":1913.019,"body":"something"},{"startTime":1913.019,"endTime":1919.227,"body":"that"},{"startTime":1919.227,"endTime":1925.435,"body":"we"},{"startTime":1925.435,"endTime":1931.643,"body":"read"},{"startTime":1931.643,"endTime":1937.851,"body":"in"},{"startTime":1937.851,"endTime":1944.059,"body":"the"},{"startTime":1944.059,"endTime":1950.267,"body":"news."},{"startTime":1950.267,"endTime":1956.475,"body":"You"},{"startTime":1956.475,"endTime":1962.683,"body":"look"},{"startTime":1962.683,"endTime":1968.891,"body":"into"},{"startTime":1968.891,"endTime":1975.099,"body":"the"},{"startTime":1975.099,"endTime":1981.307,"body":"hard"},{"startTime":1981.307,"endTime":1987.515,"body":"data."},{"startTime":1627.451,"endTime":1642.455,"body":"\rInanticipation"},{"startTime":1642.455,"endTime":1649.957,"body":"of"},{"startTime":1649.957,"endTime":1657.459,"body":"this"},{"startTime":1657.459,"endTime":1664.961,"body":"discussion,"},{"startTime":1664.961,"endTime":1672.463,"body":"I"},{"startTime":1672.463,"endTime":1679.965,"body":"kind"},{"startTime":1679.965,"endTime":1687.467,"body":"of"},{"startTime":1687.467,"endTime":1694.969,"body":"pulled"},{"startTime":1694.969,"endTime":1702.471,"body":"up"},{"startTime":1702.471,"endTime":1709.973,"body":"some"},{"startTime":1709.973,"endTime":1717.475,"body":"numbers."},{"startTime":1717.475,"endTime":1724.977,"body":"So,"},{"startTime":1724.977,"endTime":1732.479,"body":"currently"},{"startTime":1732.479,"endTime":1739.981,"body":"the"},{"startTime":1739.981,"endTime":1747.483,"body":"volume"},{"startTime":1747.483,"endTime":1754.985,"body":"in"},{"startTime":1754.985,"endTime":1762.487,"body":"S&P"},{"startTime":1762.487,"endTime":1769.989,"body":"options,"},{"startTime":1769.989,"endTime":1777.491,"body":"60%"},{"startTime":1777.491,"endTime":1784.993,"body":"of"},{"startTime":1784.993,"endTime":1792.495,"body":"it"},{"startTime":1792.495,"endTime":1799.997,"body":"is"},{"startTime":1799.997,"endTime":1807.499,"body":"zero"},{"startTime":1807.499,"endTime":1815.001,"body":"DTEs"},{"startTime":1815.001,"endTime":1822.503,"body":"and"},{"startTime":1822.503,"endTime":1830.005,"body":"40%"},{"startTime":1830.005,"endTime":1837.507,"body":"is"},{"startTime":1837.507,"endTime":1845.009,"body":"anything"},{"startTime":1845.009,"endTime":1852.511,"body":"from"},{"startTime":1852.511,"endTime":1860.013,"body":"daily"},{"startTime":1860.013,"endTime":1867.515,"body":"up"},{"startTime":1867.515,"endTime":1875.017,"body":"to"},{"startTime":1875.017,"endTime":1882.519,"body":"longer"},{"startTime":1882.519,"endTime":1890.021,"body":"term"},{"startTime":1890.021,"endTime":1897.523,"body":"tenures."},{"startTime":1897.523,"endTime":1905.025,"body":"And"},{"startTime":1905.025,"endTime":1912.527,"body":"in"},{"startTime":1912.527,"endTime":1920.029,"body":"that"},{"startTime":1920.029,"endTime":1927.531,"body":"zero"},{"startTime":1927.531,"endTime":1935.033,"body":"DTE"},{"startTime":1935.033,"endTime":1942.535,"body":"complex"},{"startTime":1942.535,"endTime":1950.037,"body":"more"},{"startTime":1950.037,"endTime":1957.539,"body":"than"},{"startTime":1957.539,"endTime":1965.041,"body":"half"},{"startTime":1965.041,"endTime":1972.543,"body":"is"},{"startTime":1972.543,"endTime":1980.045,"body":"digital"},{"startTime":1980.045,"endTime":1987.547,"body":"participation."},{"startTime":1627.451,"endTime":1638.363,"body":"\rSo,we"},{"startTime":1638.363,"endTime":1643.819,"body":"can"},{"startTime":1643.819,"endTime":1649.275,"body":"make"},{"startTime":1649.275,"endTime":1654.731,"body":"the"},{"startTime":1654.731,"endTime":1660.187,"body":"argument"},{"startTime":1660.187,"endTime":1665.643,"body":"that"},{"startTime":1665.643,"endTime":1671.099,"body":"it's"},{"startTime":1671.099,"endTime":1676.555,"body":"a"},{"startTime":1676.555,"endTime":1682.011,"body":"place"},{"startTime":1682.011,"endTime":1687.467,"body":"that"},{"startTime":1687.467,"endTime":1692.923,"body":"almost"},{"startTime":1692.923,"endTime":1698.379,"body":"democratized"},{"startTime":1698.379,"endTime":1703.835,"body":"access"},{"startTime":1703.835,"endTime":1709.291,"body":"to"},{"startTime":1709.291,"endTime":1714.747,"body":"intraday"},{"startTime":1714.747,"endTime":1720.203,"body":"leverage"},{"startTime":1720.203,"endTime":1725.659,"body":"and"},{"startTime":1725.659,"endTime":1731.115,"body":"equally"},{"startTime":1731.115,"endTime":1736.571,"body":"access"},{"startTime":1736.571,"endTime":1742.027,"body":"to"},{"startTime":1742.027,"endTime":1747.483,"body":"those,"},{"startTime":1747.483,"endTime":1752.939,"body":"I"},{"startTime":1752.939,"endTime":1758.395,"body":"guess,"},{"startTime":1758.395,"endTime":1763.851,"body":"cheap"},{"startTime":1763.851,"endTime":1769.307,"body":"bets"},{"startTime":1769.307,"endTime":1774.763,"body":"that"},{"startTime":1774.763,"endTime":1780.219,"body":"you"},{"startTime":1780.219,"endTime":1785.675,"body":"can"},{"startTime":1785.675,"endTime":1791.131,"body":"put"},{"startTime":1791.131,"endTime":1796.587,"body":"on"},{"startTime":1796.587,"endTime":1802.043,"body":"the"},{"startTime":1802.043,"endTime":1807.499,"body":"day;"},{"startTime":1807.499,"endTime":1812.955,"body":"out"},{"startTime":1812.955,"endTime":1818.411,"body":"of"},{"startTime":1818.411,"endTime":1823.867,"body":"the"},{"startTime":1823.867,"endTime":1829.323,"body":"money"},{"startTime":1829.323,"endTime":1834.779,"body":"put"},{"startTime":1834.779,"endTime":1840.235,"body":"or"},{"startTime":1840.235,"endTime":1845.691,"body":"out"},{"startTime":1845.691,"endTime":1851.147,"body":"of"},{"startTime":1851.147,"endTime":1856.603,"body":"the"},{"startTime":1856.603,"endTime":1862.059,"body":"money"},{"startTime":1862.059,"endTime":1867.515,"body":"call,"},{"startTime":1867.515,"endTime":1872.971,"body":"depending"},{"startTime":1872.971,"endTime":1878.427,"body":"on"},{"startTime":1878.427,"endTime":1883.883,"body":"the"},{"startTime":1883.883,"endTime":1889.339,"body":"view,"},{"startTime":1889.339,"endTime":1894.795,"body":"for"},{"startTime":1894.795,"endTime":1900.251,"body":"a"},{"startTime":1900.251,"endTime":1905.707,"body":"significant"},{"startTime":1905.707,"endTime":1911.163,"body":"premium"},{"startTime":1911.163,"endTime":1916.619,"body":"to"},{"startTime":1916.619,"endTime":1922.075,"body":"be"},{"startTime":1922.075,"endTime":1927.531,"body":"had,"},{"startTime":1927.531,"endTime":1932.987,"body":"or"},{"startTime":1932.987,"endTime":1938.443,"body":"significant"},{"startTime":1938.443,"endTime":1943.899,"body":"payout"},{"startTime":1943.899,"endTime":1949.355,"body":"to"},{"startTime":1949.355,"endTime":1954.811,"body":"be"},{"startTime":1954.811,"endTime":1960.267,"body":"had"},{"startTime":1960.267,"endTime":1965.723,"body":"at"},{"startTime":1965.723,"endTime":1971.179,"body":"a"},{"startTime":1971.179,"endTime":1976.635,"body":"very"},{"startTime":1976.635,"endTime":1982.091,"body":"small"},{"startTime":1982.091,"endTime":1987.547,"body":"premium."},{"startTime":1627.451,"endTime":1987.561,"body":"\r"},{"startTime":1627.451,"endTime":1639.727,"body":"Iguessthe"},{"startTime":1639.727,"endTime":1643.819,"body":"question"},{"startTime":1643.819,"endTime":1647.911,"body":"on"},{"startTime":1647.911,"endTime":1652.003,"body":"how"},{"startTime":1652.003,"endTime":1656.095,"body":"this,"},{"startTime":1656.095,"endTime":1660.187,"body":"I"},{"startTime":1660.187,"endTime":1664.279,"body":"guess,"},{"startTime":1664.279,"endTime":1668.371,"body":"market"},{"startTime":1668.371,"endTime":1672.463,"body":"evolution"},{"startTime":1672.463,"endTime":1676.555,"body":"in"},{"startTime":1676.555,"endTime":1680.647,"body":"the"},{"startTime":1680.647,"endTime":1684.739,"body":"option"},{"startTime":1684.739,"endTime":1688.831,"body":"space"},{"startTime":1688.831,"endTime":1692.923,"body":"can,"},{"startTime":1692.923,"endTime":1697.015,"body":"to"},{"startTime":1697.015,"endTime":1701.107,"body":"a"},{"startTime":1701.107,"endTime":1705.199,"body":"certain"},{"startTime":1705.199,"endTime":1709.291,"body":"extent,"},{"startTime":1709.291,"endTime":1713.383,"body":"impact"},{"startTime":1713.383,"endTime":1717.475,"body":"trend"},{"startTime":1717.475,"endTime":1721.567,"body":"followers."},{"startTime":1721.567,"endTime":1725.659,"body":"I"},{"startTime":1725.659,"endTime":1729.751,"body":"will"},{"startTime":1729.751,"endTime":1733.843,"body":"look"},{"startTime":1733.843,"endTime":1737.935,"body":"at"},{"startTime":1737.935,"endTime":1742.027,"body":"it"},{"startTime":1742.027,"endTime":1746.119,"body":"in"},{"startTime":1746.119,"endTime":1750.211,"body":"two"},{"startTime":1750.211,"endTime":1754.303,"body":"ways."},{"startTime":1754.303,"endTime":1758.395,"body":"The"},{"startTime":1758.395,"endTime":1762.487,"body":"first"},{"startTime":1762.487,"endTime":1766.579,"body":"one"},{"startTime":1766.579,"endTime":1770.671,"body":"is"},{"startTime":1770.671,"endTime":1774.763,"body":"how"},{"startTime":1774.763,"endTime":1778.855,"body":"we"},{"startTime":1778.855,"endTime":1782.947,"body":"calculate"},{"startTime":1782.947,"endTime":1787.039,"body":"signals,"},{"startTime":1787.039,"endTime":1791.131,"body":"how"},{"startTime":1791.131,"endTime":1795.223,"body":"we"},{"startTime":1795.223,"endTime":1799.315,"body":"think"},{"startTime":1799.315,"endTime":1803.407,"body":"about"},{"startTime":1803.407,"endTime":1807.499,"body":"establishing"},{"startTime":1807.499,"endTime":1811.591,"body":"market"},{"startTime":1811.591,"endTime":1815.683,"body":"trends,"},{"startTime":1815.683,"endTime":1819.775,"body":"that"},{"startTime":1819.775,"endTime":1823.867,"body":"we"},{"startTime":1823.867,"endTime":1827.959,"body":"kind"},{"startTime":1827.959,"endTime":1832.051,"body":"of"},{"startTime":1832.051,"endTime":1836.143,"body":"capture"},{"startTime":1836.143,"endTime":1840.235,"body":"them,"},{"startTime":1840.235,"endTime":1844.327,"body":"and"},{"startTime":1844.327,"endTime":1848.419,"body":"then"},{"startTime":1848.419,"endTime":1852.511,"body":"we"},{"startTime":1852.511,"endTime":1856.603,"body":"end"},{"startTime":1856.603,"endTime":1860.695,"body":"up"},{"startTime":1860.695,"endTime":1864.787,"body":"deciding"},{"startTime":1864.787,"endTime":1868.879,"body":"to"},{"startTime":1868.879,"endTime":1872.971,"body":"go"},{"startTime":1872.971,"endTime":1877.063,"body":"long"},{"startTime":1877.063,"endTime":1881.155,"body":"or"},{"startTime":1881.155,"endTime":1885.247,"body":"short."},{"startTime":1885.247,"endTime":1889.339,"body":"But"},{"startTime":1889.339,"endTime":1893.431,"body":"secondly,"},{"startTime":1893.431,"endTime":1897.523,"body":"I"},{"startTime":1897.523,"endTime":1901.615,"body":"would"},{"startTime":1901.615,"endTime":1905.707,"body":"also"},{"startTime":1905.707,"endTime":1909.799,"body":"look"},{"startTime":1909.799,"endTime":1913.891,"body":"at"},{"startTime":1913.891,"endTime":1917.983,"body":"it"},{"startTime":1917.983,"endTime":1922.075,"body":"in"},{"startTime":1922.075,"endTime":1926.167,"body":"that"},{"startTime":1926.167,"endTime":1930.259,"body":"the"},{"startTime":1930.259,"endTime":1934.351,"body":"use"},{"startTime":1934.351,"endTime":1938.443,"body":"of"},{"startTime":1938.443,"endTime":1942.535,"body":"those"},{"startTime":1942.535,"endTime":1946.627,"body":"options"},{"startTime":1946.627,"endTime":1950.719,"body":"and"},{"startTime":1950.719,"endTime":1954.811,"body":"derivatives"},{"startTime":1954.811,"endTime":1958.903,"body":"can"},{"startTime":1958.903,"endTime":1962.995,"body":"have"},{"startTime":1962.995,"endTime":1967.087,"body":"in"},{"startTime":1967.087,"endTime":1971.179,"body":"risk"},{"startTime":1971.179,"endTime":1975.271,"body":"managing"},{"startTime":1975.271,"endTime":1979.363,"body":"trend"},{"startTime":1979.363,"endTime":1983.455,"body":"following"},{"startTime":1983.455,"endTime":1987.547,"body":"portfolios."},{"startTime":1627.451,"endTime":1644.199,"body":"\rSo,if"},{"startTime":1644.199,"endTime":1652.573,"body":"I"},{"startTime":1652.573,"endTime":1660.947,"body":"go"},{"startTime":1660.947,"endTime":1669.321,"body":"to"},{"startTime":1669.321,"endTime":1677.695,"body":"the"},{"startTime":1677.695,"endTime":1686.069,"body":"first"},{"startTime":1686.069,"endTime":1694.443,"body":"one,"},{"startTime":1694.443,"endTime":1702.817,"body":"right?"},{"startTime":1702.817,"endTime":1711.191,"body":"If"},{"startTime":1711.191,"endTime":1719.565,"body":"I"},{"startTime":1719.565,"endTime":1727.939,"body":"go"},{"startTime":1727.939,"endTime":1736.313,"body":"to"},{"startTime":1736.313,"endTime":1744.687,"body":"the"},{"startTime":1744.687,"endTime":1753.061,"body":"first"},{"startTime":1753.061,"endTime":1761.435,"body":"one,"},{"startTime":1761.435,"endTime":1769.809,"body":"it's"},{"startTime":1769.809,"endTime":1778.183,"body":"all"},{"startTime":1778.183,"endTime":1786.557,"body":"about"},{"startTime":1786.557,"endTime":1794.931,"body":"the"},{"startTime":1794.931,"endTime":1803.305,"body":"marginal"},{"startTime":1803.305,"endTime":1811.679,"body":"or"},{"startTime":1811.679,"endTime":1820.053,"body":"not"},{"startTime":1820.053,"endTime":1828.427,"body":"the"},{"startTime":1828.427,"endTime":1836.801,"body":"impact"},{"startTime":1836.801,"endTime":1845.175,"body":"that"},{"startTime":1845.175,"endTime":1853.549,"body":"dealers"},{"startTime":1853.549,"endTime":1861.923,"body":"would"},{"startTime":1861.923,"endTime":1870.297,"body":"have"},{"startTime":1870.297,"endTime":1878.671,"body":"when"},{"startTime":1878.671,"endTime":1887.045,"body":"hedging"},{"startTime":1887.045,"endTime":1895.419,"body":"their"},{"startTime":1895.419,"endTime":1903.793,"body":"gamma,"},{"startTime":1903.793,"endTime":1912.167,"body":"which"},{"startTime":1912.167,"endTime":1920.541,"body":"is"},{"startTime":1920.541,"endTime":1928.915,"body":"a"},{"startTime":1928.915,"endTime":1937.289,"body":"consequence"},{"startTime":1937.289,"endTime":1945.663,"body":"of"},{"startTime":1945.663,"endTime":1954.037,"body":"investors"},{"startTime":1954.037,"endTime":1962.411,"body":"selling"},{"startTime":1962.411,"endTime":1970.785,"body":"or"},{"startTime":1970.785,"endTime":1979.159,"body":"buying"},{"startTime":1979.159,"endTime":1987.533,"body":"options."},{"startTime":1627.451,"endTime":1638.703,"body":"\rSo,if"},{"startTime":1638.703,"endTime":1644.329,"body":"investors"},{"startTime":1644.329,"endTime":1649.955,"body":"are"},{"startTime":1649.955,"endTime":1655.581,"body":"selling"},{"startTime":1655.581,"endTime":1661.207,"body":"out"},{"startTime":1661.207,"endTime":1666.833,"body":"of"},{"startTime":1666.833,"endTime":1672.459,"body":"the"},{"startTime":1672.459,"endTime":1678.085,"body":"money"},{"startTime":1678.085,"endTime":1683.711,"body":"options"},{"startTime":1683.711,"endTime":1689.337,"body":"not"},{"startTime":1689.337,"endTime":1694.963,"body":"to"},{"startTime":1694.963,"endTime":1700.589,"body":"generate"},{"startTime":1700.589,"endTime":1706.215,"body":"some"},{"startTime":1706.215,"endTime":1711.841,"body":"carry"},{"startTime":1711.841,"endTime":1717.467,"body":"for"},{"startTime":1717.467,"endTime":1723.093,"body":"instance,"},{"startTime":1723.093,"endTime":1728.719,"body":"then"},{"startTime":1728.719,"endTime":1734.345,"body":"dealers"},{"startTime":1734.345,"endTime":1739.971,"body":"would"},{"startTime":1739.971,"endTime":1745.597,"body":"typically"},{"startTime":1745.597,"endTime":1751.223,"body":"be"},{"startTime":1751.223,"endTime":1756.849,"body":"like"},{"startTime":1756.849,"endTime":1762.475,"body":"not"},{"startTime":1762.475,"endTime":1768.101,"body":"long,"},{"startTime":1768.101,"endTime":1773.727,"body":"for"},{"startTime":1773.727,"endTime":1779.353,"body":"example,"},{"startTime":1779.353,"endTime":1784.979,"body":"and"},{"startTime":1784.979,"endTime":1790.605,"body":"therefore"},{"startTime":1790.605,"endTime":1796.231,"body":"in"},{"startTime":1796.231,"endTime":1801.857,"body":"this"},{"startTime":1801.857,"endTime":1807.483,"body":"activity"},{"startTime":1807.483,"endTime":1813.109,"body":"they"},{"startTime":1813.109,"endTime":1818.735,"body":"would"},{"startTime":1818.735,"endTime":1824.361,"body":"be"},{"startTime":1824.361,"endTime":1829.987,"body":"buying"},{"startTime":1829.987,"endTime":1835.613,"body":"when"},{"startTime":1835.613,"endTime":1841.239,"body":"the"},{"startTime":1841.239,"endTime":1846.865,"body":"market"},{"startTime":1846.865,"endTime":1852.491,"body":"drops"},{"startTime":1852.491,"endTime":1858.117,"body":"and"},{"startTime":1858.117,"endTime":1863.743,"body":"they"},{"startTime":1863.743,"endTime":1869.369,"body":"would"},{"startTime":1869.369,"endTime":1874.995,"body":"be"},{"startTime":1874.995,"endTime":1880.621,"body":"selling"},{"startTime":1880.621,"endTime":1886.247,"body":"when"},{"startTime":1886.247,"endTime":1891.873,"body":"the"},{"startTime":1891.873,"endTime":1897.499,"body":"market"},{"startTime":1897.499,"endTime":1903.125,"body":"goes"},{"startTime":1903.125,"endTime":1908.751,"body":"up."},{"startTime":1908.751,"endTime":1914.377,"body":"So,"},{"startTime":1914.377,"endTime":1920.003,"body":"they"},{"startTime":1920.003,"endTime":1925.629,"body":"have"},{"startTime":1925.629,"endTime":1931.255,"body":"a"},{"startTime":1931.255,"endTime":1936.881,"body":"tendency"},{"startTime":1936.881,"endTime":1942.507,"body":"to"},{"startTime":1942.507,"endTime":1948.133,"body":"mean"},{"startTime":1948.133,"endTime":1953.759,"body":"revert,"},{"startTime":1953.759,"endTime":1959.385,"body":"to"},{"startTime":1959.385,"endTime":1965.011,"body":"force"},{"startTime":1965.011,"endTime":1970.637,"body":"a"},{"startTime":1970.637,"endTime":1976.263,"body":"mean"},{"startTime":1976.263,"endTime":1981.889,"body":"reversion"},{"startTime":1981.889,"endTime":1987.515,"body":"behavior."},{"startTime":1627.451,"endTime":1642.149,"body":"\rConversely,if"},{"startTime":1642.149,"endTime":1649.498,"body":"you"},{"startTime":1649.498,"endTime":1656.847,"body":"have"},{"startTime":1656.847,"endTime":1664.196,"body":"the"},{"startTime":1664.196,"endTime":1671.545,"body":"opposite"},{"startTime":1671.545,"endTime":1678.894,"body":"activity,"},{"startTime":1678.894,"endTime":1686.243,"body":"you"},{"startTime":1686.243,"endTime":1693.592,"body":"can"},{"startTime":1693.592,"endTime":1700.941,"body":"be"},{"startTime":1700.941,"endTime":1708.29,"body":"in"},{"startTime":1708.29,"endTime":1715.639,"body":"a"},{"startTime":1715.639,"endTime":1722.988,"body":"negative"},{"startTime":1722.988,"endTime":1730.337,"body":"gamma"},{"startTime":1730.337,"endTime":1737.686,"body":"situation."},{"startTime":1737.686,"endTime":1745.035,"body":"And"},{"startTime":1745.035,"endTime":1752.384,"body":"levered"},{"startTime":1752.384,"endTime":1759.733,"body":"ETFs"},{"startTime":1759.733,"endTime":1767.082,"body":"is"},{"startTime":1767.082,"endTime":1774.431,"body":"perhaps"},{"startTime":1774.431,"endTime":1781.78,"body":"one"},{"startTime":1781.78,"endTime":1789.129,"body":"reason"},{"startTime":1789.129,"endTime":1796.478,"body":"why"},{"startTime":1796.478,"endTime":1803.827,"body":"this"},{"startTime":1803.827,"endTime":1811.176,"body":"dynamic"},{"startTime":1811.176,"endTime":1818.525,"body":"can"},{"startTime":1818.525,"endTime":1825.874,"body":"play"},{"startTime":1825.874,"endTime":1833.223,"body":"out,"},{"startTime":1833.223,"endTime":1840.572,"body":"that"},{"startTime":1840.572,"endTime":1847.921,"body":"you"},{"startTime":1847.921,"endTime":1855.27,"body":"end"},{"startTime":1855.27,"endTime":1862.619,"body":"up"},{"startTime":1862.619,"endTime":1869.968,"body":"buying"},{"startTime":1869.968,"endTime":1877.317,"body":"as"},{"startTime":1877.317,"endTime":1884.666,"body":"the"},{"startTime":1884.666,"endTime":1892.015,"body":"price"},{"startTime":1892.015,"endTime":1899.364,"body":"goes"},{"startTime":1899.364,"endTime":1906.713,"body":"up"},{"startTime":1906.713,"endTime":1914.062,"body":"and"},{"startTime":1914.062,"endTime":1921.411,"body":"sell"},{"startTime":1921.411,"endTime":1928.76,"body":"as"},{"startTime":1928.76,"endTime":1936.109,"body":"the"},{"startTime":1936.109,"endTime":1943.458,"body":"price"},{"startTime":1943.458,"endTime":1950.807,"body":"falls."},{"startTime":1950.807,"endTime":1958.156,"body":"And"},{"startTime":1958.156,"endTime":1965.505,"body":"that"},{"startTime":1965.505,"endTime":1972.854,"body":"is"},{"startTime":1972.854,"endTime":1980.203,"body":"exacerbating"},{"startTime":1980.203,"endTime":1987.552,"body":"trends."},{"startTime":1627.451,"endTime":1646.403,"body":"\rSo,you"},{"startTime":1646.403,"endTime":1655.879,"body":"being"},{"startTime":1655.879,"endTime":1665.355,"body":"a"},{"startTime":1665.355,"endTime":1674.831,"body":"trend"},{"startTime":1674.831,"endTime":1684.307,"body":"follower,"},{"startTime":1684.307,"endTime":1693.783,"body":"you"},{"startTime":1693.783,"endTime":1703.259,"body":"might"},{"startTime":1703.259,"endTime":1712.735,"body":"be"},{"startTime":1712.735,"endTime":1722.211,"body":"in"},{"startTime":1722.211,"endTime":1731.687,"body":"a"},{"startTime":1731.687,"endTime":1741.163,"body":"situation"},{"startTime":1741.163,"endTime":1750.639,"body":"whereby"},{"startTime":1750.639,"endTime":1760.115,"body":"either"},{"startTime":1760.115,"endTime":1769.591,"body":"volatility"},{"startTime":1769.591,"endTime":1779.067,"body":"is"},{"startTime":1779.067,"endTime":1788.543,"body":"suppressed"},{"startTime":1788.543,"endTime":1798.019,"body":"and"},{"startTime":1798.019,"endTime":1807.495,"body":"mean"},{"startTime":1807.495,"endTime":1816.971,"body":"reversion"},{"startTime":1816.971,"endTime":1826.447,"body":"is,"},{"startTime":1826.447,"endTime":1835.923,"body":"I"},{"startTime":1835.923,"endTime":1845.399,"body":"guess,"},{"startTime":1845.399,"endTime":1854.875,"body":"an"},{"startTime":1854.875,"endTime":1864.351,"body":"artifact"},{"startTime":1864.351,"endTime":1873.827,"body":"of"},{"startTime":1873.827,"endTime":1883.303,"body":"this"},{"startTime":1883.303,"endTime":1892.779,"body":"auxiliary"},{"startTime":1892.779,"endTime":1902.255,"body":"activity"},{"startTime":1902.255,"endTime":1911.731,"body":"or"},{"startTime":1911.731,"endTime":1921.207,"body":"that"},{"startTime":1921.207,"endTime":1930.683,"body":"prices"},{"startTime":1930.683,"endTime":1940.159,"body":"accelerate"},{"startTime":1940.159,"endTime":1949.635,"body":"at"},{"startTime":1949.635,"endTime":1959.111,"body":"a"},{"startTime":1959.111,"endTime":1968.587,"body":"higher"},{"startTime":1968.587,"endTime":1978.063,"body":"volatility"},{"startTime":1978.063,"endTime":1987.539,"body":"dynamic."},{"startTime":1627.451,"endTime":1641.571,"body":"\rSo,then"},{"startTime":1641.571,"endTime":1648.631,"body":"the"},{"startTime":1648.631,"endTime":1655.691,"body":"question"},{"startTime":1655.691,"endTime":1662.751,"body":"becomes,"},{"startTime":1662.751,"endTime":1669.811,"body":"in"},{"startTime":1669.811,"endTime":1676.871,"body":"the"},{"startTime":1676.871,"endTime":1683.931,"body":"absence"},{"startTime":1683.931,"endTime":1690.991,"body":"of"},{"startTime":1690.991,"endTime":1698.051,"body":"those"},{"startTime":1698.051,"endTime":1705.111,"body":"dynamics,"},{"startTime":1705.111,"endTime":1712.171,"body":"how"},{"startTime":1712.171,"endTime":1719.231,"body":"would"},{"startTime":1719.231,"endTime":1726.291,"body":"trend"},{"startTime":1726.291,"endTime":1733.351,"body":"in"},{"startTime":1733.351,"endTime":1740.411,"body":"itself"},{"startTime":1740.411,"endTime":1747.471,"body":"perform"},{"startTime":1747.471,"endTime":1754.531,"body":"and"},{"startTime":1754.531,"endTime":1761.591,"body":"you"},{"startTime":1761.591,"endTime":1768.651,"body":"know,"},{"startTime":1768.651,"endTime":1775.711,"body":"would"},{"startTime":1775.711,"endTime":1782.771,"body":"be"},{"startTime":1782.771,"endTime":1789.831,"body":"established"},{"startTime":1789.831,"endTime":1796.891,"body":"for"},{"startTime":1796.891,"endTime":1803.951,"body":"us"},{"startTime":1803.951,"endTime":1811.011,"body":"to"},{"startTime":1811.011,"endTime":1818.071,"body":"be"},{"startTime":1818.071,"endTime":1825.131,"body":"able"},{"startTime":1825.131,"endTime":1832.191,"body":"to"},{"startTime":1832.191,"endTime":1839.251,"body":"capture"},{"startTime":1839.251,"endTime":1846.311,"body":"it?"},{"startTime":1846.311,"endTime":1853.371,"body":"And"},{"startTime":1853.371,"endTime":1860.431,"body":"I"},{"startTime":1860.431,"endTime":1867.491,"body":"think"},{"startTime":1867.491,"endTime":1874.551,"body":"there"},{"startTime":1874.551,"endTime":1881.611,"body":"is"},{"startTime":1881.611,"endTime":1888.671,"body":"a"},{"startTime":1888.671,"endTime":1895.731,"body":"question"},{"startTime":1895.731,"endTime":1902.791,"body":"here"},{"startTime":1902.791,"endTime":1909.851,"body":"to"},{"startTime":1909.851,"endTime":1916.911,"body":"be"},{"startTime":1916.911,"endTime":1923.971,"body":"had,"},{"startTime":1923.971,"endTime":1931.031,"body":"you"},{"startTime":1931.031,"endTime":1938.091,"body":"know,"},{"startTime":1938.091,"endTime":1945.151,"body":"should"},{"startTime":1945.151,"endTime":1952.211,"body":"we"},{"startTime":1952.211,"endTime":1959.271,"body":"somehow"},{"startTime":1959.271,"endTime":1966.331,"body":"take"},{"startTime":1966.331,"endTime":1973.391,"body":"that"},{"startTime":1973.391,"endTime":1980.451,"body":"into"},{"startTime":1980.451,"endTime":1987.511,"body":"account?"},{"startTime":1627.451,"endTime":1639.257,"body":"\rNottoo"},{"startTime":1639.257,"endTime":1645.16,"body":"clear"},{"startTime":1645.16,"endTime":1651.063,"body":"to"},{"startTime":1651.063,"endTime":1656.966,"body":"me"},{"startTime":1656.966,"endTime":1662.869,"body":"how,"},{"startTime":1662.869,"endTime":1668.772,"body":"but"},{"startTime":1668.772,"endTime":1674.675,"body":"there"},{"startTime":1674.675,"endTime":1680.578,"body":"is"},{"startTime":1680.578,"endTime":1686.481,"body":"certainly"},{"startTime":1686.481,"endTime":1692.384,"body":"a"},{"startTime":1692.384,"endTime":1698.287,"body":"good"},{"startTime":1698.287,"endTime":1704.19,"body":"question"},{"startTime":1704.19,"endTime":1710.093,"body":"to"},{"startTime":1710.093,"endTime":1715.996,"body":"be"},{"startTime":1715.996,"endTime":1721.899,"body":"had"},{"startTime":1721.899,"endTime":1727.802,"body":"specifically"},{"startTime":1727.802,"endTime":1733.705,"body":"for"},{"startTime":1733.705,"endTime":1739.608,"body":"shorter-term"},{"startTime":1739.608,"endTime":1745.511,"body":"managers."},{"startTime":1745.511,"endTime":1751.414,"body":"I"},{"startTime":1751.414,"endTime":1757.317,"body":"think"},{"startTime":1757.317,"endTime":1763.22,"body":"the"},{"startTime":1763.22,"endTime":1769.123,"body":"longer-term"},{"startTime":1769.123,"endTime":1775.026,"body":"managers,"},{"startTime":1775.026,"endTime":1780.929,"body":"you"},{"startTime":1780.929,"endTime":1786.832,"body":"know,"},{"startTime":1786.832,"endTime":1792.735,"body":"if"},{"startTime":1792.735,"endTime":1798.638,"body":"your"},{"startTime":1798.638,"endTime":1804.541,"body":"signal"},{"startTime":1804.541,"endTime":1810.444,"body":"is"},{"startTime":1810.444,"endTime":1816.347,"body":"very"},{"startTime":1816.347,"endTime":1822.25,"body":"close"},{"startTime":1822.25,"endTime":1828.153,"body":"to"},{"startTime":1828.153,"endTime":1834.056,"body":"zero"},{"startTime":1834.056,"endTime":1839.959,"body":"anyway,"},{"startTime":1839.959,"endTime":1845.862,"body":"your"},{"startTime":1845.862,"endTime":1851.765,"body":"risk"},{"startTime":1851.765,"endTime":1857.668,"body":"exposure"},{"startTime":1857.668,"endTime":1863.571,"body":"would"},{"startTime":1863.571,"endTime":1869.474,"body":"be"},{"startTime":1869.474,"endTime":1875.377,"body":"small,"},{"startTime":1875.377,"endTime":1881.28,"body":"to"},{"startTime":1881.28,"endTime":1887.183,"body":"be"},{"startTime":1887.183,"endTime":1893.086,"body":"honest"},{"startTime":1893.086,"endTime":1898.989,"body":"with"},{"startTime":1898.989,"endTime":1904.892,"body":"you."},{"startTime":1904.892,"endTime":1910.795,"body":"So,"},{"startTime":1910.795,"endTime":1916.698,"body":"does"},{"startTime":1916.698,"endTime":1922.601,"body":"it"},{"startTime":1922.601,"endTime":1928.504,"body":"change,"},{"startTime":1928.504,"endTime":1934.407,"body":"if"},{"startTime":1934.407,"endTime":1940.31,"body":"you"},{"startTime":1940.31,"endTime":1946.213,"body":"like,"},{"startTime":1946.213,"endTime":1952.116,"body":"the"},{"startTime":1952.116,"endTime":1958.019,"body":"measuring"},{"startTime":1958.019,"endTime":1963.922,"body":"of"},{"startTime":1963.922,"endTime":1969.825,"body":"the"},{"startTime":1969.825,"endTime":1975.728,"body":"signal?"},{"startTime":1975.728,"endTime":1981.631,"body":"Probably"},{"startTime":1981.631,"endTime":1987.534,"body":"not."},{"startTime":1627.451,"endTime":1634.725,"body":"\rTheother"},{"startTime":1634.725,"endTime":1638.362,"body":"point,"},{"startTime":1638.362,"endTime":1641.999,"body":"which"},{"startTime":1641.999,"endTime":1645.636,"body":"perhaps"},{"startTime":1645.636,"endTime":1649.273,"body":"is"},{"startTime":1649.273,"endTime":1652.91,"body":"equally"},{"startTime":1652.91,"endTime":1656.547,"body":"interesting,"},{"startTime":1656.547,"endTime":1660.184,"body":"is"},{"startTime":1660.184,"endTime":1663.821,"body":"that"},{"startTime":1663.821,"endTime":1667.458,"body":"on"},{"startTime":1667.458,"endTime":1671.095,"body":"specific"},{"startTime":1671.095,"endTime":1674.732,"body":"days"},{"startTime":1674.732,"endTime":1678.369,"body":"that"},{"startTime":1678.369,"endTime":1682.006,"body":"those"},{"startTime":1682.006,"endTime":1685.643,"body":"options"},{"startTime":1685.643,"endTime":1689.28,"body":"specifically,"},{"startTime":1689.28,"endTime":1692.917,"body":"not"},{"startTime":1692.917,"endTime":1696.554,"body":"just"},{"startTime":1696.554,"endTime":1700.191,"body":"the"},{"startTime":1700.191,"endTime":1703.828,"body":"zero"},{"startTime":1703.828,"endTime":1707.465,"body":"DTEs,"},{"startTime":1707.465,"endTime":1711.102,"body":"but"},{"startTime":1711.102,"endTime":1714.739,"body":"more"},{"startTime":1714.739,"endTime":1718.376,"body":"broadly,"},{"startTime":1718.376,"endTime":1722.013,"body":"have"},{"startTime":1722.013,"endTime":1725.65,"body":"an"},{"startTime":1725.65,"endTime":1729.287,"body":"expiration,"},{"startTime":1729.287,"endTime":1732.924,"body":"you"},{"startTime":1732.924,"endTime":1736.561,"body":"have"},{"startTime":1736.561,"endTime":1740.198,"body":"this"},{"startTime":1740.198,"endTime":1743.835,"body":"kind"},{"startTime":1743.835,"endTime":1747.472,"body":"of"},{"startTime":1747.472,"endTime":1751.109,"body":"so"},{"startTime":1751.109,"endTime":1754.746,"body":"called"},{"startTime":1754.746,"endTime":1758.383,"body":"pin"},{"startTime":1758.383,"endTime":1762.02,"body":"risk."},{"startTime":1762.02,"endTime":1765.657,"body":"So,"},{"startTime":1765.657,"endTime":1769.294,"body":"there's"},{"startTime":1769.294,"endTime":1772.931,"body":"a"},{"startTime":1772.931,"endTime":1776.568,"body":"bit"},{"startTime":1776.568,"endTime":1780.205,"body":"of"},{"startTime":1780.205,"endTime":1783.842,"body":"gravitational"},{"startTime":1783.842,"endTime":1787.479,"body":"power"},{"startTime":1787.479,"endTime":1791.116,"body":"towards"},{"startTime":1791.116,"endTime":1794.753,"body":"the"},{"startTime":1794.753,"endTime":1798.39,"body":"strike"},{"startTime":1798.39,"endTime":1802.027,"body":"price"},{"startTime":1802.027,"endTime":1805.664,"body":"that"},{"startTime":1805.664,"endTime":1809.301,"body":"the"},{"startTime":1809.301,"endTime":1812.938,"body":"open"},{"startTime":1812.938,"endTime":1816.575,"body":"interest"},{"startTime":1816.575,"endTime":1820.212,"body":"is"},{"startTime":1820.212,"endTime":1823.849,"body":"large."},{"startTime":1823.849,"endTime":1827.486,"body":"Again,"},{"startTime":1827.486,"endTime":1831.123,"body":"it"},{"startTime":1831.123,"endTime":1834.76,"body":"can"},{"startTime":1834.76,"endTime":1838.397,"body":"have"},{"startTime":1838.397,"endTime":1842.034,"body":"an"},{"startTime":1842.034,"endTime":1845.671,"body":"impact"},{"startTime":1845.671,"endTime":1849.308,"body":"as"},{"startTime":1849.308,"endTime":1852.945,"body":"to"},{"startTime":1852.945,"endTime":1856.582,"body":"how"},{"startTime":1856.582,"endTime":1860.219,"body":"the"},{"startTime":1860.219,"endTime":1863.856,"body":"signals"},{"startTime":1863.856,"endTime":1867.493,"body":"themselves"},{"startTime":1867.493,"endTime":1871.13,"body":"are"},{"startTime":1871.13,"endTime":1874.767,"body":"documented"},{"startTime":1874.767,"endTime":1878.404,"body":"for"},{"startTime":1878.404,"endTime":1882.041,"body":"a"},{"startTime":1882.041,"endTime":1885.678,"body":"trend"},{"startTime":1885.678,"endTime":1889.315,"body":"follower."},{"startTime":1889.315,"endTime":1892.952,"body":"For"},{"startTime":1892.952,"endTime":1896.589,"body":"a"},{"startTime":1896.589,"endTime":1900.226,"body":"medium-term"},{"startTime":1900.226,"endTime":1903.863,"body":"trend"},{"startTime":1903.863,"endTime":1907.5,"body":"follower"},{"startTime":1907.5,"endTime":1911.137,"body":"is"},{"startTime":1911.137,"endTime":1914.774,"body":"that"},{"startTime":1914.774,"endTime":1918.411,"body":"impactful?"},{"startTime":1918.411,"endTime":1922.048,"body":"Not"},{"startTime":1922.048,"endTime":1925.685,"body":"very"},{"startTime":1925.685,"endTime":1929.322,"body":"clear"},{"startTime":1929.322,"endTime":1932.959,"body":"to"},{"startTime":1932.959,"endTime":1936.596,"body":"me,"},{"startTime":1936.596,"endTime":1940.233,"body":"just"},{"startTime":1940.233,"endTime":1943.87,"body":"to"},{"startTime":1943.87,"endTime":1947.507,"body":"be"},{"startTime":1947.507,"endTime":1951.144,"body":"open."},{"startTime":1951.144,"endTime":1954.781,"body":"At"},{"startTime":1954.781,"endTime":1958.418,"body":"the"},{"startTime":1958.418,"endTime":1962.055,"body":"same"},{"startTime":1962.055,"endTime":1965.692,"body":"time,"},{"startTime":1965.692,"endTime":1969.329,"body":"should"},{"startTime":1969.329,"endTime":1972.966,"body":"we"},{"startTime":1972.966,"endTime":1976.603,"body":"ignore"},{"startTime":1976.603,"endTime":1980.24,"body":"it?"},{"startTime":1980.24,"endTime":1983.877,"body":"Certainly"},{"startTime":1983.877,"endTime":1987.514,"body":"not."},{"startTime":1627.451,"endTime":1638.883,"body":"\rButfrankly,"},{"startTime":1638.883,"endTime":1644.599,"body":"I"},{"startTime":1644.599,"endTime":1650.315,"body":"think"},{"startTime":1650.315,"endTime":1656.031,"body":"more"},{"startTime":1656.031,"endTime":1661.747,"body":"value,"},{"startTime":1661.747,"endTime":1667.463,"body":"at"},{"startTime":1667.463,"endTime":1673.179,"body":"least"},{"startTime":1673.179,"endTime":1678.895,"body":"in"},{"startTime":1678.895,"endTime":1684.611,"body":"the"},{"startTime":1684.611,"endTime":1690.327,"body":"present"},{"startTime":1690.327,"endTime":1696.043,"body":"market"},{"startTime":1696.043,"endTime":1701.759,"body":"environment"},{"startTime":1701.759,"endTime":1707.475,"body":"of"},{"startTime":1707.475,"endTime":1713.191,"body":"utilizing"},{"startTime":1713.191,"endTime":1718.907,"body":"those"},{"startTime":1718.907,"endTime":1724.623,"body":"tools"},{"startTime":1724.623,"endTime":1730.339,"body":"to"},{"startTime":1730.339,"endTime":1736.055,"body":"maybe"},{"startTime":1736.055,"endTime":1741.771,"body":"take"},{"startTime":1741.771,"endTime":1747.487,"body":"into"},{"startTime":1747.487,"endTime":1753.203,"body":"the"},{"startTime":1753.203,"endTime":1758.919,"body":"exposures"},{"startTime":1758.919,"endTime":1764.635,"body":"when"},{"startTime":1764.635,"endTime":1770.351,"body":"the"},{"startTime":1770.351,"endTime":1776.067,"body":"market"},{"startTime":1776.067,"endTime":1781.783,"body":"goes"},{"startTime":1781.783,"endTime":1787.499,"body":"against"},{"startTime":1787.499,"endTime":1793.215,"body":"you."},{"startTime":1793.215,"endTime":1798.931,"body":"So,"},{"startTime":1798.931,"endTime":1804.647,"body":"suppose"},{"startTime":1804.647,"endTime":1810.363,"body":"you're"},{"startTime":1810.363,"endTime":1816.079,"body":"holding"},{"startTime":1816.079,"endTime":1821.795,"body":"equities,"},{"startTime":1821.795,"endTime":1827.511,"body":"and"},{"startTime":1827.511,"endTime":1833.227,"body":"your"},{"startTime":1833.227,"endTime":1838.943,"body":"equity"},{"startTime":1838.943,"endTime":1844.659,"body":"starts"},{"startTime":1844.659,"endTime":1850.375,"body":"selling"},{"startTime":1850.375,"endTime":1856.091,"body":"off."},{"startTime":1856.091,"endTime":1861.807,"body":"So,"},{"startTime":1861.807,"endTime":1867.523,"body":"your"},{"startTime":1867.523,"endTime":1873.239,"body":"long"},{"startTime":1873.239,"endTime":1878.955,"body":"position"},{"startTime":1878.955,"endTime":1884.671,"body":"in"},{"startTime":1884.671,"endTime":1890.387,"body":"your"},{"startTime":1890.387,"endTime":1896.103,"body":"long-term"},{"startTime":1896.103,"endTime":1901.819,"body":"model"},{"startTime":1901.819,"endTime":1907.535,"body":"would"},{"startTime":1907.535,"endTime":1913.251,"body":"either"},{"startTime":1913.251,"endTime":1918.967,"body":"take"},{"startTime":1918.967,"endTime":1924.683,"body":"some"},{"startTime":1924.683,"endTime":1930.399,"body":"time"},{"startTime":1930.399,"endTime":1936.115,"body":"to"},{"startTime":1936.115,"endTime":1941.831,"body":"revert"},{"startTime":1941.831,"endTime":1947.547,"body":"or"},{"startTime":1947.547,"endTime":1953.263,"body":"during"},{"startTime":1953.263,"endTime":1958.979,"body":"the"},{"startTime":1958.979,"endTime":1964.695,"body":"day"},{"startTime":1964.695,"endTime":1970.411,"body":"it's"},{"startTime":1970.411,"endTime":1976.127,"body":"going"},{"startTime":1976.127,"endTime":1981.843,"body":"to"},{"startTime":1981.843,"endTime":1987.559,"body":"suffer."},{"startTime":1627.451,"endTime":1638.041,"body":"\rMaybethere"},{"startTime":1638.041,"endTime":1643.336,"body":"is"},{"startTime":1643.336,"endTime":1648.631,"body":"a"},{"startTime":1648.631,"endTime":1653.926,"body":"premium"},{"startTime":1653.926,"endTime":1659.221,"body":"to"},{"startTime":1659.221,"endTime":1664.516,"body":"be"},{"startTime":1664.516,"endTime":1669.811,"body":"spent"},{"startTime":1669.811,"endTime":1675.106,"body":"on"},{"startTime":1675.106,"endTime":1680.401,"body":"a"},{"startTime":1680.401,"endTime":1685.696,"body":"zero"},{"startTime":1685.696,"endTime":1690.991,"body":"DTE"},{"startTime":1690.991,"endTime":1696.286,"body":"option"},{"startTime":1696.286,"endTime":1701.581,"body":"to"},{"startTime":1701.581,"endTime":1706.876,"body":"just"},{"startTime":1706.876,"endTime":1712.171,"body":"cover"},{"startTime":1712.171,"endTime":1717.466,"body":"that"},{"startTime":1717.466,"endTime":1722.761,"body":"exposure"},{"startTime":1722.761,"endTime":1728.056,"body":"and"},{"startTime":1728.056,"endTime":1733.351,"body":"that"},{"startTime":1733.351,"endTime":1738.646,"body":"is"},{"startTime":1738.646,"endTime":1743.941,"body":"more"},{"startTime":1743.941,"endTime":1749.236,"body":"how"},{"startTime":1749.236,"endTime":1754.531,"body":"we"},{"startTime":1754.531,"endTime":1759.826,"body":"can"},{"startTime":1759.826,"endTime":1765.121,"body":"use"},{"startTime":1765.121,"endTime":1770.416,"body":"those,"},{"startTime":1770.416,"endTime":1775.711,"body":"more"},{"startTime":1775.711,"endTime":1781.006,"body":"shorter-term,"},{"startTime":1781.006,"endTime":1786.301,"body":"to"},{"startTime":1786.301,"endTime":1791.596,"body":"risk"},{"startTime":1791.596,"endTime":1796.891,"body":"manage"},{"startTime":1796.891,"endTime":1802.186,"body":"a"},{"startTime":1802.186,"endTime":1807.481,"body":"portfolio"},{"startTime":1807.481,"endTime":1812.776,"body":"without"},{"startTime":1812.776,"endTime":1818.071,"body":"cutting"},{"startTime":1818.071,"endTime":1823.366,"body":"the"},{"startTime":1823.366,"endTime":1828.661,"body":"exposure"},{"startTime":1828.661,"endTime":1833.956,"body":"but"},{"startTime":1833.956,"endTime":1839.251,"body":"rather"},{"startTime":1839.251,"endTime":1844.546,"body":"adding"},{"startTime":1844.546,"endTime":1849.841,"body":"to"},{"startTime":1849.841,"endTime":1855.136,"body":"it"},{"startTime":1855.136,"endTime":1860.431,"body":"at"},{"startTime":1860.431,"endTime":1865.726,"body":"a"},{"startTime":1865.726,"endTime":1871.021,"body":"cost"},{"startTime":1871.021,"endTime":1876.316,"body":"a"},{"startTime":1876.316,"endTime":1881.611,"body":"short-term"},{"startTime":1881.611,"endTime":1886.906,"body":"protection."},{"startTime":1886.906,"endTime":1892.201,"body":"So,"},{"startTime":1892.201,"endTime":1897.496,"body":"it"},{"startTime":1897.496,"endTime":1902.791,"body":"remains"},{"startTime":1902.791,"endTime":1908.086,"body":"to"},{"startTime":1908.086,"endTime":1913.381,"body":"be"},{"startTime":1913.381,"endTime":1918.676,"body":"seen"},{"startTime":1918.676,"endTime":1923.971,"body":"what"},{"startTime":1923.971,"endTime":1929.266,"body":"the"},{"startTime":1929.266,"endTime":1934.561,"body":"outcome"},{"startTime":1934.561,"endTime":1939.856,"body":"can"},{"startTime":1939.856,"endTime":1945.151,"body":"be."},{"startTime":1945.151,"endTime":1950.446,"body":"But"},{"startTime":1950.446,"endTime":1955.741,"body":"these"},{"startTime":1955.741,"endTime":1961.036,"body":"are"},{"startTime":1961.036,"endTime":1966.331,"body":"some"},{"startTime":1966.331,"endTime":1971.626,"body":"of"},{"startTime":1971.626,"endTime":1976.921,"body":"the"},{"startTime":1976.921,"endTime":1982.216,"body":"quick"},{"startTime":1982.216,"endTime":1987.511,"body":"thoughts."},{"startTime":1627.451,"endTime":1639.257,"body":"\rMaybethe"},{"startTime":1639.257,"endTime":1645.16,"body":"last"},{"startTime":1645.16,"endTime":1651.063,"body":"one"},{"startTime":1651.063,"endTime":1656.966,"body":"I"},{"startTime":1656.966,"endTime":1662.869,"body":"would"},{"startTime":1662.869,"endTime":1668.772,"body":"have."},{"startTime":1668.772,"endTime":1674.675,"body":"I"},{"startTime":1674.675,"endTime":1680.578,"body":"think"},{"startTime":1680.578,"endTime":1686.481,"body":"there"},{"startTime":1686.481,"endTime":1692.384,"body":"was"},{"startTime":1692.384,"endTime":1698.287,"body":"a"},{"startTime":1698.287,"endTime":1704.19,"body":"paper"},{"startTime":1704.19,"endTime":1710.093,"body":"recently"},{"startTime":1710.093,"endTime":1715.996,"body":"but"},{"startTime":1715.996,"endTime":1721.899,"body":"you"},{"startTime":1721.899,"endTime":1727.802,"body":"know,"},{"startTime":1727.802,"endTime":1733.705,"body":"I"},{"startTime":1733.705,"endTime":1739.608,"body":"hope"},{"startTime":1739.608,"endTime":1745.511,"body":"I"},{"startTime":1745.511,"endTime":1751.414,"body":"don't"},{"startTime":1751.414,"endTime":1757.317,"body":"misrepresent"},{"startTime":1757.317,"endTime":1763.22,"body":"it"},{"startTime":1763.22,"endTime":1769.123,"body":"now."},{"startTime":1769.123,"endTime":1775.026,"body":"It"},{"startTime":1775.026,"endTime":1780.929,"body":"just"},{"startTime":1780.929,"endTime":1786.832,"body":"came"},{"startTime":1786.832,"endTime":1792.735,"body":"up"},{"startTime":1792.735,"endTime":1798.638,"body":"to"},{"startTime":1798.638,"endTime":1804.541,"body":"my"},{"startTime":1804.541,"endTime":1810.444,"body":"mind"},{"startTime":1810.444,"endTime":1816.347,"body":"actually,"},{"startTime":1816.347,"endTime":1822.25,"body":"I"},{"startTime":1822.25,"endTime":1828.153,"body":"think"},{"startTime":1828.153,"endTime":1834.056,"body":"it's"},{"startTime":1834.056,"endTime":1839.959,"body":"by"},{"startTime":1839.959,"endTime":1845.862,"body":"Greg"},{"startTime":1845.862,"endTime":1851.765,"body":"Vilkoff"},{"startTime":1851.765,"endTime":1857.668,"body":"and"},{"startTime":1857.668,"endTime":1863.571,"body":"some"},{"startTime":1863.571,"endTime":1869.474,"body":"colleagues."},{"startTime":1869.474,"endTime":1875.377,"body":"I"},{"startTime":1875.377,"endTime":1881.28,"body":"think"},{"startTime":1881.28,"endTime":1887.183,"body":"it's"},{"startTime":1887.183,"endTime":1893.086,"body":"a"},{"startTime":1893.086,"endTime":1898.989,"body":"project"},{"startTime":1898.989,"endTime":1904.892,"body":"perhaps"},{"startTime":1904.892,"endTime":1910.795,"body":"sponsored"},{"startTime":1910.795,"endTime":1916.698,"body":"by"},{"startTime":1916.698,"endTime":1922.601,"body":"the"},{"startTime":1922.601,"endTime":1928.504,"body":"CME,"},{"startTime":1928.504,"endTime":1934.407,"body":"if"},{"startTime":1934.407,"endTime":1940.31,"body":"I'm"},{"startTime":1940.31,"endTime":1946.213,"body":"not"},{"startTime":1946.213,"endTime":1952.116,"body":"mistaken,"},{"startTime":1952.116,"endTime":1958.019,"body":"or"},{"startTime":1958.019,"endTime":1963.922,"body":"Cboe,"},{"startTime":1963.922,"endTime":1969.825,"body":"it"},{"startTime":1969.825,"endTime":1975.728,"body":"doesn't"},{"startTime":1975.728,"endTime":1981.631,"body":"really"},{"startTime":1981.631,"endTime":1987.534,"body":"matter."},{"startTime":1627.451,"endTime":1635.543,"body":"\rThepoint"},{"startTime":1635.543,"endTime":1639.589,"body":"I"},{"startTime":1639.589,"endTime":1643.635,"body":"think"},{"startTime":1643.635,"endTime":1647.681,"body":"they're"},{"startTime":1647.681,"endTime":1651.727,"body":"making,"},{"startTime":1651.727,"endTime":1655.773,"body":"they're"},{"startTime":1655.773,"endTime":1659.819,"body":"looking"},{"startTime":1659.819,"endTime":1663.865,"body":"into"},{"startTime":1663.865,"endTime":1667.911,"body":"zero"},{"startTime":1667.911,"endTime":1671.957,"body":"DTE"},{"startTime":1671.957,"endTime":1676.003,"body":"volumes"},{"startTime":1676.003,"endTime":1680.049,"body":"and"},{"startTime":1680.049,"endTime":1684.095,"body":"they"},{"startTime":1684.095,"endTime":1688.141,"body":"find"},{"startTime":1688.141,"endTime":1692.187,"body":"that"},{"startTime":1692.187,"endTime":1696.233,"body":"dealers"},{"startTime":1696.233,"endTime":1700.279,"body":"are"},{"startTime":1700.279,"endTime":1704.325,"body":"typically"},{"startTime":1704.325,"endTime":1708.371,"body":"more"},{"startTime":1708.371,"endTime":1712.417,"body":"long"},{"startTime":1712.417,"endTime":1716.463,"body":"gamma"},{"startTime":1716.463,"endTime":1720.509,"body":"than"},{"startTime":1720.509,"endTime":1724.555,"body":"short"},{"startTime":1724.555,"endTime":1728.601,"body":"gamma."},{"startTime":1728.601,"endTime":1732.647,"body":"And"},{"startTime":1732.647,"endTime":1736.693,"body":"therefore,"},{"startTime":1736.693,"endTime":1740.739,"body":"there"},{"startTime":1740.739,"endTime":1744.785,"body":"is"},{"startTime":1744.785,"endTime":1748.831,"body":"an"},{"startTime":1748.831,"endTime":1752.877,"body":"argument"},{"startTime":1752.877,"endTime":1756.923,"body":"to"},{"startTime":1756.923,"endTime":1760.969,"body":"be"},{"startTime":1760.969,"endTime":1765.015,"body":"made"},{"startTime":1765.015,"endTime":1769.061,"body":"that"},{"startTime":1769.061,"endTime":1773.107,"body":"short-term"},{"startTime":1773.107,"endTime":1777.153,"body":"reversions"},{"startTime":1777.153,"endTime":1781.199,"body":"have"},{"startTime":1781.199,"endTime":1785.245,"body":"become"},{"startTime":1785.245,"endTime":1789.291,"body":"more"},{"startTime":1789.291,"endTime":1793.337,"body":"prevalent"},{"startTime":1793.337,"endTime":1797.383,"body":"than"},{"startTime":1797.383,"endTime":1801.429,"body":"intraday"},{"startTime":1801.429,"endTime":1805.475,"body":"trends."},{"startTime":1805.475,"endTime":1809.521,"body":"Which"},{"startTime":1809.521,"endTime":1813.567,"body":"again,"},{"startTime":1813.567,"endTime":1817.613,"body":"in"},{"startTime":1817.613,"endTime":1821.659,"body":"itself"},{"startTime":1821.659,"endTime":1825.705,"body":"can"},{"startTime":1825.705,"endTime":1829.751,"body":"have"},{"startTime":1829.751,"endTime":1833.797,"body":"an"},{"startTime":1833.797,"endTime":1837.843,"body":"impact"},{"startTime":1837.843,"endTime":1841.889,"body":"as"},{"startTime":1841.889,"endTime":1845.935,"body":"to"},{"startTime":1845.935,"endTime":1849.981,"body":"how"},{"startTime":1849.981,"endTime":1854.027,"body":"markets"},{"startTime":1854.027,"endTime":1858.073,"body":"trade"},{"startTime":1858.073,"endTime":1862.119,"body":"intraday."},{"startTime":1862.119,"endTime":1866.165,"body":"I"},{"startTime":1866.165,"endTime":1870.211,"body":"think"},{"startTime":1870.211,"endTime":1874.257,"body":"we've"},{"startTime":1874.257,"endTime":1878.303,"body":"seen"},{"startTime":1878.303,"endTime":1882.349,"body":"a"},{"startTime":1882.349,"endTime":1886.395,"body":"good"},{"startTime":1886.395,"endTime":1890.441,"body":"amount"},{"startTime":1890.441,"endTime":1894.487,"body":"of"},{"startTime":1894.487,"endTime":1898.533,"body":"reversals"},{"startTime":1898.533,"endTime":1902.579,"body":"recently,"},{"startTime":1902.579,"endTime":1906.625,"body":"and"},{"startTime":1906.625,"endTime":1910.671,"body":"over"},{"startTime":1910.671,"endTime":1914.717,"body":"the"},{"startTime":1914.717,"endTime":1918.763,"body":"last"},{"startTime":1918.763,"endTime":1922.809,"body":"few"},{"startTime":1922.809,"endTime":1926.855,"body":"years"},{"startTime":1926.855,"endTime":1930.901,"body":"Intraday."},{"startTime":1930.901,"endTime":1934.947,"body":"Is"},{"startTime":1934.947,"endTime":1938.993,"body":"that"},{"startTime":1938.993,"endTime":1943.039,"body":"caused"},{"startTime":1943.039,"endTime":1947.085,"body":"by"},{"startTime":1947.085,"endTime":1951.131,"body":"zero"},{"startTime":1951.131,"endTime":1955.177,"body":"DTEs?"},{"startTime":1955.177,"endTime":1959.223,"body":"It"},{"startTime":1959.223,"endTime":1963.269,"body":"is"},{"startTime":1963.269,"endTime":1967.315,"body":"very"},{"startTime":1967.315,"endTime":1971.361,"body":"certainly"},{"startTime":1971.361,"endTime":1975.407,"body":"a"},{"startTime":1975.407,"endTime":1979.453,"body":"force"},{"startTime":1979.453,"endTime":1983.499,"body":"into"},{"startTime":1983.499,"endTime":1987.545,"body":"it."},{"startTime":1627.451,"endTime":1643.107,"body":"\rSo,that's"},{"startTime":1643.107,"endTime":1650.935,"body":"how"},{"startTime":1650.935,"endTime":1658.763,"body":"I"},{"startTime":1658.763,"endTime":1666.591,"body":"look"},{"startTime":1666.591,"endTime":1674.419,"body":"at"},{"startTime":1674.419,"endTime":1682.247,"body":"it."},{"startTime":1682.247,"endTime":1690.075,"body":"Point"},{"startTime":1690.075,"endTime":1697.903,"body":"number"},{"startTime":1697.903,"endTime":1705.731,"body":"one,"},{"startTime":1705.731,"endTime":1713.559,"body":"how"},{"startTime":1713.559,"endTime":1721.387,"body":"the"},{"startTime":1721.387,"endTime":1729.215,"body":"models"},{"startTime":1729.215,"endTime":1737.043,"body":"can"},{"startTime":1737.043,"endTime":1744.871,"body":"become"},{"startTime":1744.871,"endTime":1752.699,"body":"aware"},{"startTime":1752.699,"endTime":1760.527,"body":"if"},{"startTime":1760.527,"endTime":1768.355,"body":"that"},{"startTime":1768.355,"endTime":1776.183,"body":"is"},{"startTime":1776.183,"endTime":1784.011,"body":"required."},{"startTime":1784.011,"endTime":1791.839,"body":"Number"},{"startTime":1791.839,"endTime":1799.667,"body":"two,"},{"startTime":1799.667,"endTime":1807.495,"body":"can"},{"startTime":1807.495,"endTime":1815.323,"body":"we"},{"startTime":1815.323,"endTime":1823.151,"body":"actually"},{"startTime":1823.151,"endTime":1830.979,"body":"make"},{"startTime":1830.979,"endTime":1838.807,"body":"use"},{"startTime":1838.807,"endTime":1846.635,"body":"of"},{"startTime":1846.635,"endTime":1854.463,"body":"them"},{"startTime":1854.463,"endTime":1862.291,"body":"for"},{"startTime":1862.291,"endTime":1870.119,"body":"risk"},{"startTime":1870.119,"endTime":1877.947,"body":"management?"},{"startTime":1877.947,"endTime":1885.775,"body":"I"},{"startTime":1885.775,"endTime":1893.603,"body":"think"},{"startTime":1893.603,"endTime":1901.431,"body":"the"},{"startTime":1901.431,"endTime":1909.259,"body":"latter"},{"startTime":1909.259,"endTime":1917.087,"body":"is"},{"startTime":1917.087,"endTime":1924.915,"body":"more"},{"startTime":1924.915,"endTime":1932.743,"body":"of"},{"startTime":1932.743,"endTime":1940.571,"body":"a"},{"startTime":1940.571,"endTime":1948.399,"body":"direct"},{"startTime":1948.399,"endTime":1956.227,"body":"use"},{"startTime":1956.227,"endTime":1964.055,"body":"case."},{"startTime":1964.055,"endTime":1971.883,"body":"The"},{"startTime":1971.883,"endTime":1979.711,"body":"former,"},{"startTime":1979.711,"endTime":1987.539,"body":"maybe."},{"startTime":1987.561,"endTime":1989.769,"body":"Okay,"},{"startTime":1989.769,"endTime":1991.977,"body":"maybe"},{"startTime":1991.977,"endTime":1994.185,"body":"so."},{"startTime":1994.185,"endTime":1996.393,"body":"So,"},{"startTime":1996.393,"endTime":1998.601,"body":"I"},{"startTime":1998.601,"endTime":2000.809,"body":"would"},{"startTime":2000.809,"endTime":2003.017,"body":"say"},{"startTime":2003.017,"endTime":2005.225,"body":"I"},{"startTime":2005.225,"endTime":2007.433,"body":"tend"},{"startTime":2007.433,"endTime":2009.641,"body":"to"},{"startTime":2009.641,"endTime":2011.849,"body":"agree"},{"startTime":2011.849,"endTime":2014.057,"body":"with"},{"startTime":2014.057,"endTime":2016.265,"body":"you"},{"startTime":2016.265,"endTime":2018.473,"body":"on"},{"startTime":2018.473,"endTime":2020.681,"body":"this"},{"startTime":2020.681,"endTime":2022.889,"body":"one,"},{"startTime":2022.889,"endTime":2025.097,"body":"but"},{"startTime":2025.097,"endTime":2027.305,"body":"I"},{"startTime":2027.305,"endTime":2029.513,"body":"think"},{"startTime":2029.513,"endTime":2031.721,"body":"about"},{"startTime":2031.721,"endTime":2033.929,"body":"things"},{"startTime":2033.929,"endTime":2036.137,"body":"in"},{"startTime":2036.137,"endTime":2038.345,"body":"much"},{"startTime":2038.345,"endTime":2040.553,"body":"simpler"},{"startTime":2040.553,"endTime":2042.761,"body":"non"},{"startTime":2042.761,"endTime":2044.969,"body":"quantity"},{"startTime":2044.969,"endTime":2047.177,"body":"terms."},{"startTime":2047.177,"endTime":2049.385,"body":"So,"},{"startTime":2049.385,"endTime":2051.593,"body":"in"},{"startTime":2051.593,"endTime":2053.801,"body":"one"},{"startTime":2053.801,"endTime":2056.009,"body":"way"},{"startTime":2056.009,"endTime":2058.217,"body":"I"},{"startTime":2058.217,"endTime":2060.425,"body":"would"},{"startTime":2060.425,"endTime":2062.633,"body":"I"},{"startTime":2062.633,"endTime":2064.841,"body":"just"},{"startTime":2064.841,"endTime":2067.049,"body":"make"},{"startTime":2067.049,"endTime":2069.257,"body":"it"},{"startTime":2069.257,"endTime":2071.465,"body":"sort"},{"startTime":2071.465,"endTime":2073.673,"body":"of"},{"startTime":2073.673,"endTime":2075.881,"body":"a"},{"startTime":2075.881,"endTime":2078.089,"body":"simple"},{"startTime":2078.089,"endTime":2080.297,"body":"observation"},{"startTime":2080.297,"endTime":2082.505,"body":"saying"},{"startTime":2082.505,"endTime":2084.713,"body":"yeah,"},{"startTime":2084.713,"endTime":2086.921,"body":"the"},{"startTime":2086.921,"endTime":2089.129,"body":"last"},{"startTime":2089.129,"endTime":2091.337,"body":"period"},{"startTime":2091.337,"endTime":2093.545,"body":"of"},{"startTime":2093.545,"endTime":2095.753,"body":"time"},{"startTime":2095.753,"endTime":2097.961,"body":"it's"},{"startTime":2097.961,"endTime":2100.169,"body":"been"},{"startTime":2100.169,"endTime":2102.377,"body":"definitely"},{"startTime":2102.377,"endTime":2104.585,"body":"more"},{"startTime":2104.585,"endTime":2106.793,"body":"challenging"},{"startTime":2106.793,"endTime":2109.001,"body":"for,"},{"startTime":2109.001,"endTime":2111.209,"body":"say,"},{"startTime":2111.209,"endTime":2113.417,"body":"short-term"},{"startTime":2113.417,"endTime":2115.625,"body":"strategies."},{"startTime":1987.561,"endTime":1990.723,"body":"\rAndmaybe"},{"startTime":1990.723,"endTime":1992.304,"body":"that"},{"startTime":1992.304,"endTime":1993.885,"body":"is"},{"startTime":1993.885,"endTime":1995.466,"body":"exactly"},{"startTime":1995.466,"endTime":1997.047,"body":"because"},{"startTime":1997.047,"endTime":1998.628,"body":"there"},{"startTime":1998.628,"endTime":2000.209,"body":"is"},{"startTime":2000.209,"endTime":2001.79,"body":"a"},{"startTime":2001.79,"endTime":2003.371,"body":"force"},{"startTime":2003.371,"endTime":2004.952,"body":"out"},{"startTime":2004.952,"endTime":2006.533,"body":"there"},{"startTime":2006.533,"endTime":2008.114,"body":"that"},{"startTime":2008.114,"endTime":2009.695,"body":"is"},{"startTime":2009.695,"endTime":2011.276,"body":"much"},{"startTime":2011.276,"endTime":2012.857,"body":"more"},{"startTime":2012.857,"endTime":2014.438,"body":"convergent,"},{"startTime":2014.438,"endTime":2016.019,"body":"and"},{"startTime":2016.019,"endTime":2017.6,"body":"has"},{"startTime":2017.6,"endTime":2019.181,"body":"this"},{"startTime":2019.181,"endTime":2020.762,"body":"sort"},{"startTime":2020.762,"endTime":2022.343,"body":"of"},{"startTime":2022.343,"endTime":2023.924,"body":"mean"},{"startTime":2023.924,"endTime":2025.505,"body":"reverting"},{"startTime":2025.505,"endTime":2027.086,"body":"interest,"},{"startTime":2027.086,"endTime":2028.667,"body":"and"},{"startTime":2028.667,"endTime":2030.248,"body":"that"},{"startTime":2030.248,"endTime":2031.829,"body":"could"},{"startTime":2031.829,"endTime":2033.41,"body":"well"},{"startTime":2033.41,"endTime":2034.991,"body":"be"},{"startTime":2034.991,"endTime":2036.572,"body":"from"},{"startTime":2036.572,"endTime":2038.153,"body":"all"},{"startTime":2038.153,"endTime":2039.734,"body":"the"},{"startTime":2039.734,"endTime":2041.315,"body":"people"},{"startTime":2041.315,"endTime":2042.896,"body":"around,"},{"startTime":2042.896,"endTime":2044.477,"body":"you"},{"startTime":2044.477,"endTime":2046.058,"body":"know,"},{"startTime":2046.058,"endTime":2047.639,"body":"surrounding"},{"startTime":2047.639,"endTime":2049.22,"body":"the"},{"startTime":2049.22,"endTime":2050.801,"body":"zero"},{"startTime":2050.801,"endTime":2052.382,"body":"DTE"},{"startTime":2052.382,"endTime":2053.963,"body":"options"},{"startTime":2053.963,"endTime":2055.544,"body":"markets"},{"startTime":2055.544,"endTime":2057.125,"body":"and"},{"startTime":2057.125,"endTime":2058.706,"body":"how"},{"startTime":2058.706,"endTime":2060.287,"body":"they"},{"startTime":2060.287,"endTime":2061.868,"body":"manage"},{"startTime":2061.868,"endTime":2063.449,"body":"risk,"},{"startTime":2063.449,"endTime":2065.03,"body":"and"},{"startTime":2065.03,"endTime":2066.611,"body":"so"},{"startTime":2066.611,"endTime":2068.192,"body":"on,"},{"startTime":2068.192,"endTime":2069.773,"body":"and"},{"startTime":2069.773,"endTime":2071.354,"body":"so"},{"startTime":2071.354,"endTime":2072.935,"body":"forth."},{"startTime":2072.935,"endTime":2074.516,"body":"That"},{"startTime":2074.516,"endTime":2076.097,"body":"would"},{"startTime":2076.097,"endTime":2077.678,"body":"be"},{"startTime":2077.678,"endTime":2079.259,"body":"one"},{"startTime":2079.259,"endTime":2080.84,"body":"observation,"},{"startTime":2080.84,"endTime":2082.421,"body":"could"},{"startTime":2082.421,"endTime":2084.002,"body":"also"},{"startTime":2084.002,"endTime":2085.583,"body":"be"},{"startTime":2085.583,"endTime":2087.164,"body":"the"},{"startTime":2087.164,"endTime":2088.745,"body":"pod"},{"startTime":2088.745,"endTime":2090.326,"body":"shops,"},{"startTime":2090.326,"endTime":2091.907,"body":"but"},{"startTime":2091.907,"endTime":2093.488,"body":"they're"},{"startTime":2093.488,"endTime":2095.069,"body":"probably"},{"startTime":2095.069,"endTime":2096.65,"body":"also"},{"startTime":2096.65,"endTime":2098.231,"body":"part"},{"startTime":2098.231,"endTime":2099.812,"body":"of"},{"startTime":2099.812,"endTime":2101.393,"body":"maybe"},{"startTime":2101.393,"endTime":2102.974,"body":"the"},{"startTime":2102.974,"endTime":2104.555,"body":"zero"},{"startTime":2104.555,"endTime":2106.136,"body":"DTE"},{"startTime":2106.136,"endTime":2107.717,"body":"options"},{"startTime":2107.717,"endTime":2109.298,"body":"market."},{"startTime":2109.298,"endTime":2110.879,"body":"I"},{"startTime":2110.879,"endTime":2112.46,"body":"have"},{"startTime":2112.46,"endTime":2114.041,"body":"no"},{"startTime":2114.041,"endTime":2115.622,"body":"idea."},{"startTime":1987.561,"endTime":1989.807,"body":"\rButthe"},{"startTime":1989.807,"endTime":1990.93,"body":"other"},{"startTime":1990.93,"endTime":1992.053,"body":"thing,"},{"startTime":1992.053,"endTime":1993.176,"body":"spotted"},{"startTime":1993.176,"endTime":1994.299,"body":"specifically"},{"startTime":1994.299,"endTime":1995.422,"body":"to"},{"startTime":1995.422,"endTime":1996.545,"body":"Tim's"},{"startTime":1996.545,"endTime":1997.668,"body":"question"},{"startTime":1997.668,"endTime":1998.791,"body":"about,"},{"startTime":1998.791,"endTime":1999.914,"body":"should"},{"startTime":1999.914,"endTime":2001.037,"body":"we"},{"startTime":2001.037,"endTime":2002.16,"body":"use"},{"startTime":2002.16,"endTime":2003.283,"body":"that"},{"startTime":2003.283,"endTime":2004.406,"body":"data?"},{"startTime":2004.406,"endTime":2005.529,"body":"And"},{"startTime":2005.529,"endTime":2006.652,"body":"I'm"},{"startTime":2006.652,"endTime":2007.775,"body":"thinking"},{"startTime":2007.775,"endTime":2008.898,"body":"what"},{"startTime":2008.898,"endTime":2010.021,"body":"would"},{"startTime":2010.021,"endTime":2011.144,"body":"we"},{"startTime":2011.144,"endTime":2012.267,"body":"use"},{"startTime":2012.267,"endTime":2013.39,"body":"it"},{"startTime":2013.39,"endTime":2014.513,"body":"for?"},{"startTime":2014.513,"endTime":2015.636,"body":"We're"},{"startTime":2015.636,"endTime":2016.759,"body":"trying"},{"startTime":2016.759,"endTime":2017.882,"body":"to"},{"startTime":2017.882,"endTime":2019.005,"body":"find"},{"startTime":2019.005,"endTime":2020.128,"body":"trends"},{"startTime":2020.128,"endTime":2021.251,"body":"that"},{"startTime":2021.251,"endTime":2022.374,"body":"last"},{"startTime":2022.374,"endTime":2023.497,"body":"for"},{"startTime":2023.497,"endTime":2024.62,"body":"3,"},{"startTime":2024.62,"endTime":2025.743,"body":"to"},{"startTime":2025.743,"endTime":2026.866,"body":"6,"},{"startTime":2026.866,"endTime":2027.989,"body":"to"},{"startTime":2027.989,"endTime":2029.112,"body":"12,"},{"startTime":2029.112,"endTime":2030.235,"body":"to"},{"startTime":2030.235,"endTime":2031.358,"body":"24"},{"startTime":2031.358,"endTime":2032.481,"body":"months."},{"startTime":2032.481,"endTime":2033.604,"body":"A"},{"startTime":2033.604,"endTime":2034.727,"body":"zero"},{"startTime":2034.727,"endTime":2035.85,"body":"DTE"},{"startTime":2035.85,"endTime":2036.973,"body":"option"},{"startTime":2036.973,"endTime":2038.096,"body":"volume"},{"startTime":2038.096,"endTime":2039.219,"body":"(and"},{"startTime":2039.219,"endTime":2040.342,"body":"again,"},{"startTime":2040.342,"endTime":2041.465,"body":"I'm"},{"startTime":2041.465,"endTime":2042.588,"body":"not"},{"startTime":2042.588,"endTime":2043.711,"body":"a"},{"startTime":2043.711,"endTime":2044.834,"body":"quant"},{"startTime":2044.834,"endTime":2045.957,"body":"here),"},{"startTime":2045.957,"endTime":2047.08,"body":"I'm"},{"startTime":2047.08,"endTime":2048.203,"body":"thinking,"},{"startTime":2048.203,"endTime":2049.326,"body":"okay,"},{"startTime":2049.326,"endTime":2050.449,"body":"that"},{"startTime":2050.449,"endTime":2051.572,"body":"gives"},{"startTime":2051.572,"endTime":2052.695,"body":"you"},{"startTime":2052.695,"endTime":2053.818,"body":"a"},{"startTime":2053.818,"endTime":2054.941,"body":"sense"},{"startTime":2054.941,"endTime":2056.064,"body":"of"},{"startTime":2056.064,"endTime":2057.187,"body":"people"},{"startTime":2057.187,"endTime":2058.31,"body":"making"},{"startTime":2058.31,"endTime":2059.433,"body":"a"},{"startTime":2059.433,"endTime":2060.556,"body":"bet"},{"startTime":2060.556,"endTime":2061.679,"body":"for"},{"startTime":2061.679,"endTime":2062.802,"body":"a"},{"startTime":2062.802,"endTime":2063.925,"body":"single"},{"startTime":2063.925,"endTime":2065.048,"body":"day."},{"startTime":2065.048,"endTime":2066.171,"body":"That's"},{"startTime":2066.171,"endTime":2067.294,"body":"not"},{"startTime":2067.294,"endTime":2068.417,"body":"really"},{"startTime":2068.417,"endTime":2069.54,"body":"going"},{"startTime":2069.54,"endTime":2070.663,"body":"to"},{"startTime":2070.663,"endTime":2071.786,"body":"inform"},{"startTime":2071.786,"endTime":2072.909,"body":"me"},{"startTime":2072.909,"endTime":2074.032,"body":"what"},{"startTime":2074.032,"endTime":2075.155,"body":"the"},{"startTime":2075.155,"endTime":2076.278,"body":"price"},{"startTime":2076.278,"endTime":2077.401,"body":"is"},{"startTime":2077.401,"endTime":2078.524,"body":"going"},{"startTime":2078.524,"endTime":2079.647,"body":"to"},{"startTime":2079.647,"endTime":2080.77,"body":"do"},{"startTime":2080.77,"endTime":2081.893,"body":"over"},{"startTime":2081.893,"endTime":2083.016,"body":"the"},{"startTime":2083.016,"endTime":2084.139,"body":"next"},{"startTime":2084.139,"endTime":2085.262,"body":"3,"},{"startTime":2085.262,"endTime":2086.385,"body":"6,"},{"startTime":2086.385,"endTime":2087.508,"body":"9,"},{"startTime":2087.508,"endTime":2088.631,"body":"12,"},{"startTime":2088.631,"endTime":2089.754,"body":"24"},{"startTime":2089.754,"endTime":2090.877,"body":"months."},{"startTime":2090.877,"endTime":2092,"body":"But"},{"startTime":2092,"endTime":2093.123,"body":"even"},{"startTime":2093.123,"endTime":2094.246,"body":"for"},{"startTime":2094.246,"endTime":2095.369,"body":"risk"},{"startTime":2095.369,"endTime":2096.492,"body":"management"},{"startTime":2096.492,"endTime":2097.615,"body":"purposes,"},{"startTime":2097.615,"endTime":2098.738,"body":"why"},{"startTime":2098.738,"endTime":2099.861,"body":"would"},{"startTime":2099.861,"endTime":2100.984,"body":"we"},{"startTime":2100.984,"endTime":2102.107,"body":"start"},{"startTime":2102.107,"endTime":2103.23,"body":"trading"},{"startTime":2103.23,"endTime":2104.353,"body":"options"},{"startTime":2104.353,"endTime":2105.476,"body":"when"},{"startTime":2105.476,"endTime":2106.599,"body":"we"},{"startTime":2106.599,"endTime":2107.722,"body":"have"},{"startTime":2107.722,"endTime":2108.845,"body":"plenty"},{"startTime":2108.845,"endTime":2109.968,"body":"of"},{"startTime":2109.968,"endTime":2111.091,"body":"liquidity"},{"startTime":2111.091,"endTime":2112.214,"body":"in"},{"startTime":2112.214,"endTime":2113.337,"body":"the"},{"startTime":2113.337,"endTime":2114.46,"body":"futures"},{"startTime":2114.46,"endTime":2115.583,"body":"markets?"},{"startTime":1987.561,"endTime":1989.827,"body":"\rAndI"},{"startTime":1989.827,"endTime":1990.96,"body":"think"},{"startTime":1990.96,"endTime":1992.093,"body":"one"},{"startTime":1992.093,"endTime":1993.226,"body":"of"},{"startTime":1993.226,"endTime":1994.359,"body":"the"},{"startTime":1994.359,"endTime":1995.492,"body":"trend"},{"startTime":1995.492,"endTime":1996.625,"body":"followings,"},{"startTime":1996.625,"endTime":1997.758,"body":"I"},{"startTime":1997.758,"endTime":1998.891,"body":"mean"},{"startTime":1998.891,"endTime":2000.024,"body":"one"},{"startTime":2000.024,"endTime":2001.157,"body":"should"},{"startTime":2001.157,"endTime":2002.29,"body":"never"},{"startTime":2002.29,"endTime":2003.423,"body":"say"},{"startTime":2003.423,"endTime":2004.556,"body":"never,"},{"startTime":2004.556,"endTime":2005.689,"body":"but"},{"startTime":2005.689,"endTime":2006.822,"body":"one"},{"startTime":2006.822,"endTime":2007.955,"body":"of"},{"startTime":2007.955,"endTime":2009.088,"body":"the"},{"startTime":2009.088,"endTime":2010.221,"body":"trend"},{"startTime":2010.221,"endTime":2011.354,"body":"following"},{"startTime":2011.354,"endTime":2012.487,"body":"mantras"},{"startTime":2012.487,"endTime":2013.62,"body":"has"},{"startTime":2013.62,"endTime":2014.753,"body":"always"},{"startTime":2014.753,"endTime":2015.886,"body":"been,"},{"startTime":2015.886,"endTime":2017.019,"body":"you"},{"startTime":2017.019,"endTime":2018.152,"body":"test"},{"startTime":2018.152,"endTime":2019.285,"body":"what"},{"startTime":2019.285,"endTime":2020.418,"body":"you"},{"startTime":2020.418,"endTime":2021.551,"body":"trade"},{"startTime":2021.551,"endTime":2022.684,"body":"and"},{"startTime":2022.684,"endTime":2023.817,"body":"you"},{"startTime":2023.817,"endTime":2024.95,"body":"trade"},{"startTime":2024.95,"endTime":2026.083,"body":"what"},{"startTime":2026.083,"endTime":2027.216,"body":"you"},{"startTime":2027.216,"endTime":2028.349,"body":"test."},{"startTime":2028.349,"endTime":2029.482,"body":"Right?"},{"startTime":2029.482,"endTime":2030.615,"body":"And"},{"startTime":2030.615,"endTime":2031.748,"body":"we"},{"startTime":2031.748,"endTime":2032.881,"body":"are"},{"startTime":2032.881,"endTime":2034.014,"body":"using"},{"startTime":2034.014,"endTime":2035.147,"body":"futures"},{"startTime":2035.147,"endTime":2036.28,"body":"data"},{"startTime":2036.28,"endTime":2037.413,"body":"to"},{"startTime":2037.413,"endTime":2038.546,"body":"build"},{"startTime":2038.546,"endTime":2039.679,"body":"all"},{"startTime":2039.679,"endTime":2040.812,"body":"our"},{"startTime":2040.812,"endTime":2041.945,"body":"models"},{"startTime":2041.945,"endTime":2043.078,"body":"and"},{"startTime":2043.078,"endTime":2044.211,"body":"so"},{"startTime":2044.211,"endTime":2045.344,"body":"we"},{"startTime":2045.344,"endTime":2046.477,"body":"should"},{"startTime":2046.477,"endTime":2047.61,"body":"trade"},{"startTime":2047.61,"endTime":2048.743,"body":"futures."},{"startTime":2048.743,"endTime":2049.876,"body":"And"},{"startTime":2049.876,"endTime":2051.009,"body":"by"},{"startTime":2051.009,"endTime":2052.142,"body":"the"},{"startTime":2052.142,"endTime":2053.275,"body":"way,"},{"startTime":2053.275,"endTime":2054.408,"body":"we"},{"startTime":2054.408,"endTime":2055.541,"body":"adjust"},{"startTime":2055.541,"endTime":2056.674,"body":"positions"},{"startTime":2056.674,"endTime":2057.807,"body":"on"},{"startTime":2057.807,"endTime":2058.94,"body":"a"},{"startTime":2058.94,"endTime":2060.073,"body":"daily"},{"startTime":2060.073,"endTime":2061.206,"body":"basis."},{"startTime":2061.206,"endTime":2062.339,"body":"It's"},{"startTime":2062.339,"endTime":2063.472,"body":"not"},{"startTime":2063.472,"endTime":2064.605,"body":"like"},{"startTime":2064.605,"endTime":2065.738,"body":"we're"},{"startTime":2065.738,"endTime":2066.871,"body":"making"},{"startTime":2066.871,"endTime":2068.004,"body":"massive"},{"startTime":2068.004,"endTime":2069.137,"body":"bets"},{"startTime":2069.137,"endTime":2070.27,"body":"any"},{"startTime":2070.27,"endTime":2071.403,"body":"one"},{"startTime":2071.403,"endTime":2072.536,"body":"day"},{"startTime":2072.536,"endTime":2073.669,"body":"unless"},{"startTime":2073.669,"endTime":2074.802,"body":"something"},{"startTime":2074.802,"endTime":2075.935,"body":"really"},{"startTime":2075.935,"endTime":2077.068,"body":"crazy"},{"startTime":2077.068,"endTime":2078.201,"body":"is"},{"startTime":2078.201,"endTime":2079.334,"body":"taking"},{"startTime":2079.334,"endTime":2080.467,"body":"place."},{"startTime":2080.467,"endTime":2081.6,"body":"So,"},{"startTime":2081.6,"endTime":2082.733,"body":"I'm"},{"startTime":2082.733,"endTime":2083.866,"body":"less"},{"startTime":2083.866,"endTime":2084.999,"body":"certain"},{"startTime":2084.999,"endTime":2086.132,"body":"about"},{"startTime":2086.132,"endTime":2087.265,"body":"the"},{"startTime":2087.265,"endTime":2088.398,"body":"use"},{"startTime":2088.398,"endTime":2089.531,"body":"case"},{"startTime":2089.531,"endTime":2090.664,"body":"of"},{"startTime":2090.664,"endTime":2091.797,"body":"option"},{"startTime":2091.797,"endTime":2092.93,"body":"data"},{"startTime":2092.93,"endTime":2094.063,"body":"for"},{"startTime":2094.063,"endTime":2095.196,"body":"classical"},{"startTime":2095.196,"endTime":2096.329,"body":"trend"},{"startTime":2096.329,"endTime":2097.462,"body":"following"},{"startTime":2097.462,"endTime":2098.595,"body":"models."},{"startTime":2098.595,"endTime":2099.728,"body":"But"},{"startTime":2099.728,"endTime":2100.861,"body":"as"},{"startTime":2100.861,"endTime":2101.994,"body":"I"},{"startTime":2101.994,"endTime":2103.127,"body":"said,"},{"startTime":2103.127,"endTime":2104.26,"body":"I'm"},{"startTime":2104.26,"endTime":2105.393,"body":"not"},{"startTime":2105.393,"endTime":2106.526,"body":"a"},{"startTime":2106.526,"endTime":2107.659,"body":"quant"},{"startTime":2107.659,"endTime":2108.792,"body":"so"},{"startTime":2108.792,"endTime":2109.925,"body":"I"},{"startTime":2109.925,"endTime":2111.058,"body":"could"},{"startTime":2111.058,"endTime":2112.191,"body":"be"},{"startTime":2112.191,"endTime":2113.324,"body":"completely"},{"startTime":2113.324,"endTime":2114.457,"body":"wrong"},{"startTime":2114.457,"endTime":2115.59,"body":"here."},{"startTime":2116.841,"endTime":2117.464,"body":"I"},{"startTime":2117.464,"endTime":2118.087,"body":"mean,"},{"startTime":2118.087,"endTime":2118.71,"body":"I"},{"startTime":2118.71,"endTime":2119.333,"body":"can"},{"startTime":2119.333,"endTime":2119.956,"body":"see"},{"startTime":2119.956,"endTime":2120.579,"body":"the"},{"startTime":2120.579,"endTime":2121.202,"body":"hypothesis"},{"startTime":2121.202,"endTime":2121.825,"body":"that"},{"startTime":2121.825,"endTime":2122.448,"body":"periods"},{"startTime":2122.448,"endTime":2123.071,"body":"of"},{"startTime":2123.071,"endTime":2123.694,"body":"mean"},{"startTime":2123.694,"endTime":2124.317,"body":"reverting"},{"startTime":2124.317,"endTime":2124.94,"body":"behavior"},{"startTime":2124.94,"endTime":2125.563,"body":"can"},{"startTime":2125.563,"endTime":2126.186,"body":"create"},{"startTime":2126.186,"endTime":2126.809,"body":"excess"},{"startTime":2126.809,"endTime":2127.432,"body":"turnover"},{"startTime":2127.432,"endTime":2128.055,"body":"without"},{"startTime":2128.055,"endTime":2128.678,"body":"there"},{"startTime":2128.678,"endTime":2129.301,"body":"necessarily"},{"startTime":2129.301,"endTime":2129.924,"body":"being"},{"startTime":2129.924,"endTime":2130.547,"body":"any"},{"startTime":2130.547,"endTime":2131.17,"body":"particular"},{"startTime":2131.17,"endTime":2131.793,"body":"reason"},{"startTime":2131.793,"endTime":2132.416,"body":"for"},{"startTime":2132.416,"endTime":2133.039,"body":"it."},{"startTime":2133.039,"endTime":2133.662,"body":"I"},{"startTime":2133.662,"endTime":2134.285,"body":"think"},{"startTime":2134.285,"endTime":2134.908,"body":"most"},{"startTime":2134.908,"endTime":2135.531,"body":"of"},{"startTime":2135.531,"endTime":2136.154,"body":"our"},{"startTime":2136.154,"endTime":2136.777,"body":"models"},{"startTime":2136.777,"endTime":2137.4,"body":"do"},{"startTime":2137.4,"endTime":2138.023,"body":"some"},{"startTime":2138.023,"endTime":2138.646,"body":"sort"},{"startTime":2138.646,"endTime":2139.269,"body":"of"},{"startTime":2139.269,"endTime":2139.892,"body":"short-term"},{"startTime":2139.892,"endTime":2140.515,"body":"smoothing"},{"startTime":2140.515,"endTime":2141.138,"body":"anyway."},{"startTime":2141.138,"endTime":2141.761,"body":"So"},{"startTime":2141.761,"endTime":2142.384,"body":"maybe"},{"startTime":2142.384,"endTime":2143.007,"body":"we"},{"startTime":2143.007,"endTime":2143.63,"body":"can"},{"startTime":2143.63,"endTime":2144.253,"body":"look"},{"startTime":2144.253,"endTime":2144.876,"body":"at"},{"startTime":2144.876,"endTime":2145.499,"body":"the"},{"startTime":2145.499,"endTime":2146.122,"body":"symptoms"},{"startTime":2146.122,"endTime":2146.745,"body":"of"},{"startTime":2146.745,"endTime":2147.368,"body":"the"},{"startTime":2147.368,"endTime":2147.991,"body":"whip"},{"startTime":2147.991,"endTime":2148.614,"body":"sawing"},{"startTime":2148.614,"endTime":2149.237,"body":"dynamics"},{"startTime":2149.237,"endTime":2149.86,"body":"and"},{"startTime":2149.86,"endTime":2150.483,"body":"ultimately,"},{"startTime":2150.483,"endTime":2151.106,"body":"if"},{"startTime":2151.106,"endTime":2151.729,"body":"averaging"},{"startTime":2151.729,"endTime":2152.352,"body":"helps"},{"startTime":2152.352,"endTime":2152.975,"body":"a"},{"startTime":2152.975,"endTime":2153.598,"body":"bit,"},{"startTime":2153.598,"endTime":2154.221,"body":"moderate"},{"startTime":2154.221,"endTime":2154.844,"body":"that,"},{"startTime":2154.844,"endTime":2155.467,"body":"as"},{"startTime":2155.467,"endTime":2156.09,"body":"it"},{"startTime":2156.09,"endTime":2156.713,"body":"has"},{"startTime":2156.713,"endTime":2157.336,"body":"historically"},{"startTime":2157.336,"endTime":2157.959,"body":"done"},{"startTime":2157.959,"endTime":2158.582,"body":"with"},{"startTime":2158.582,"endTime":2159.205,"body":"let's"},{"startTime":2159.205,"endTime":2159.828,"body":"say"},{"startTime":2159.828,"endTime":2160.451,"body":"asynchronicity,"},{"startTime":2160.451,"endTime":2161.074,"body":"possibly"},{"startTime":2161.074,"endTime":2161.697,"body":"it's"},{"startTime":2161.697,"endTime":2162.32,"body":"captured"},{"startTime":2162.32,"endTime":2162.943,"body":"indirectly."},{"startTime":2162.943,"endTime":2163.566,"body":"But"},{"startTime":2163.566,"endTime":2164.189,"body":"I"},{"startTime":2164.189,"endTime":2164.812,"body":"can"},{"startTime":2164.812,"endTime":2165.435,"body":"see"},{"startTime":2165.435,"endTime":2166.058,"body":"the"},{"startTime":2166.058,"endTime":2166.681,"body":"hypothesis"},{"startTime":2166.681,"endTime":2167.304,"body":"there."},{"startTime":2116.841,"endTime":2167.351,"body":"\r"},{"startTime":2116.841,"endTime":2119.871,"body":"Icansee"},{"startTime":2119.871,"endTime":2120.881,"body":"the"},{"startTime":2120.881,"endTime":2121.891,"body":"hypothesis"},{"startTime":2121.891,"endTime":2122.901,"body":"of"},{"startTime":2122.901,"endTime":2123.911,"body":"maybe"},{"startTime":2123.911,"endTime":2124.921,"body":"some"},{"startTime":2124.921,"endTime":2125.931,"body":"sort"},{"startTime":2125.931,"endTime":2126.941,"body":"of"},{"startTime":2126.941,"endTime":2127.951,"body":"option"},{"startTime":2127.951,"endTime":2128.961,"body":"implied"},{"startTime":2128.961,"endTime":2129.971,"body":"information"},{"startTime":2129.971,"endTime":2130.981,"body":"like"},{"startTime":2130.981,"endTime":2131.991,"body":"no"},{"startTime":2131.991,"endTime":2133.001,"body":"skew"},{"startTime":2133.001,"endTime":2134.011,"body":"providing"},{"startTime":2134.011,"endTime":2135.021,"body":"some"},{"startTime":2135.021,"endTime":2136.031,"body":"sort"},{"startTime":2136.031,"endTime":2137.041,"body":"of"},{"startTime":2137.041,"endTime":2138.051,"body":"sentiment"},{"startTime":2138.051,"endTime":2139.061,"body":"indicator"},{"startTime":2139.061,"endTime":2140.071,"body":"that,"},{"startTime":2140.071,"endTime":2141.081,"body":"I"},{"startTime":2141.081,"endTime":2142.091,"body":"don't"},{"startTime":2142.091,"endTime":2143.101,"body":"know,"},{"startTime":2143.101,"endTime":2144.111,"body":"that"},{"startTime":2144.111,"endTime":2145.121,"body":"in"},{"startTime":2145.121,"endTime":2146.131,"body":"itself"},{"startTime":2146.131,"endTime":2147.141,"body":"might"},{"startTime":2147.141,"endTime":2148.151,"body":"be"},{"startTime":2148.151,"endTime":2149.161,"body":"like"},{"startTime":2149.161,"endTime":2150.171,"body":"a"},{"startTime":2150.171,"endTime":2151.181,"body":"penalty"},{"startTime":2151.181,"endTime":2152.191,"body":"to"},{"startTime":2152.191,"endTime":2153.201,"body":"a"},{"startTime":2153.201,"endTime":2154.211,"body":"specific"},{"startTime":2154.211,"endTime":2155.221,"body":"direction"},{"startTime":2155.221,"endTime":2156.231,"body":"of"},{"startTime":2156.231,"endTime":2157.241,"body":"the"},{"startTime":2157.241,"endTime":2158.251,"body":"market"},{"startTime":2158.251,"endTime":2159.261,"body":"or"},{"startTime":2159.261,"endTime":2160.271,"body":"maybe"},{"startTime":2160.271,"endTime":2161.281,"body":"a"},{"startTime":2161.281,"endTime":2162.291,"body":"multiple."},{"startTime":2162.291,"endTime":2163.301,"body":"So,"},{"startTime":2163.301,"endTime":2164.311,"body":"there"},{"startTime":2164.311,"endTime":2165.321,"body":"could"},{"startTime":2165.321,"endTime":2166.331,"body":"be"},{"startTime":2166.331,"endTime":2167.341,"body":"nuances."},{"startTime":2168.351,"endTime":2168.631,"body":"Yeah."},{"startTime":2168.631,"endTime":2168.907,"body":"Full"},{"startTime":2168.907,"endTime":2169.183,"body":"stop,"},{"startTime":2169.183,"endTime":2169.459,"body":"full"},{"startTime":2169.459,"endTime":2169.735,"body":"stop,"},{"startTime":2169.735,"endTime":2170.011,"body":"anyway,"},{"startTime":2170.011,"endTime":2170.287,"body":"there's"},{"startTime":2170.287,"endTime":2170.563,"body":"no"},{"startTime":2170.563,"endTime":2170.839,"body":"comment"},{"startTime":2170.839,"endTime":2171.115,"body":"in"},{"startTime":2171.115,"endTime":2171.391,"body":"my"},{"startTime":2171.391,"endTime":2171.667,"body":"sentence."},{"startTime":2171.667,"endTime":2171.943,"body":"I"},{"startTime":2171.943,"endTime":2172.219,"body":"think"},{"startTime":2172.219,"endTime":2172.495,"body":"these"},{"startTime":2172.495,"endTime":2172.771,"body":"are"},{"startTime":2172.771,"endTime":2173.047,"body":"like"},{"startTime":2173.047,"endTime":2173.323,"body":"some"},{"startTime":2173.323,"endTime":2173.599,"body":"of"},{"startTime":2173.599,"endTime":2173.875,"body":"the"},{"startTime":2173.875,"endTime":2174.151,"body":"hypothesis"},{"startTime":2174.151,"endTime":2174.427,"body":"that"},{"startTime":2174.427,"endTime":2174.703,"body":"will"},{"startTime":2174.703,"endTime":2174.979,"body":"kind"},{"startTime":2174.979,"endTime":2175.255,"body":"of"},{"startTime":2175.255,"endTime":2175.531,"body":"push"},{"startTime":2175.531,"endTime":2175.807,"body":"forward"},{"startTime":2175.807,"endTime":2176.083,"body":"as"},{"startTime":2176.083,"endTime":2176.359,"body":"a"},{"startTime":2176.359,"endTime":2176.635,"body":"consequence"},{"startTime":2176.635,"endTime":2176.911,"body":"of"},{"startTime":2176.911,"endTime":2177.187,"body":"Tim's"},{"startTime":2177.187,"endTime":2177.463,"body":"questions."},{"startTime":2177.471,"endTime":2177.842,"body":"We"},{"startTime":2177.842,"endTime":2178.213,"body":"appreciate"},{"startTime":2178.213,"endTime":2178.584,"body":"the"},{"startTime":2178.584,"endTime":2178.955,"body":"questions."},{"startTime":2178.955,"endTime":2179.326,"body":"It"},{"startTime":2179.326,"endTime":2179.697,"body":"allows"},{"startTime":2179.697,"endTime":2180.068,"body":"us"},{"startTime":2180.068,"endTime":2180.439,"body":"to"},{"startTime":2180.439,"endTime":2180.81,"body":"think"},{"startTime":2180.81,"endTime":2181.181,"body":"about"},{"startTime":2181.181,"endTime":2181.552,"body":"stuff"},{"startTime":2181.552,"endTime":2181.923,"body":"that"},{"startTime":2181.923,"endTime":2182.294,"body":"we"},{"startTime":2182.294,"endTime":2182.665,"body":"may"},{"startTime":2182.665,"endTime":2183.036,"body":"not"},{"startTime":2183.036,"endTime":2183.407,"body":"think"},{"startTime":2183.407,"endTime":2183.778,"body":"about"},{"startTime":2183.778,"endTime":2184.149,"body":"on"},{"startTime":2184.149,"endTime":2184.52,"body":"a"},{"startTime":2184.52,"endTime":2184.891,"body":"day-by-day"},{"startTime":2184.891,"endTime":2185.262,"body":"basis."},{"startTime":2185.271,"endTime":2185.591,"body":"Always"},{"startTime":2185.591,"endTime":2185.831,"body":"do."},{"startTime":2185.831,"endTime":2186.071,"body":"Always"},{"startTime":2186.071,"endTime":2186.431,"body":"do."},{"startTime":2186.591,"endTime":2190.644,"body":"All"},{"startTime":2190.644,"endTime":2194.697,"body":"right,"},{"startTime":2194.697,"endTime":2198.75,"body":"well"},{"startTime":2198.75,"endTime":2202.803,"body":"let's"},{"startTime":2202.803,"endTime":2206.856,"body":"jump"},{"startTime":2206.856,"endTime":2210.909,"body":"to"},{"startTime":2210.909,"endTime":2214.962,"body":"the"},{"startTime":2214.962,"endTime":2219.015,"body":"papers"},{"startTime":2219.015,"endTime":2223.068,"body":"now."},{"startTime":2223.068,"endTime":2227.121,"body":"We"},{"startTime":2227.121,"endTime":2231.174,"body":"had"},{"startTime":2231.174,"endTime":2235.227,"body":"kind"},{"startTime":2235.227,"endTime":2239.28,"body":"of"},{"startTime":2239.28,"endTime":2243.333,"body":"several"},{"startTime":2243.333,"endTime":2247.386,"body":"choices."},{"startTime":2247.386,"endTime":2251.439,"body":"I"},{"startTime":2251.439,"endTime":2255.492,"body":"think"},{"startTime":2255.492,"endTime":2259.545,"body":"we've"},{"startTime":2259.545,"endTime":2263.598,"body":"narrowed"},{"startTime":2263.598,"endTime":2267.651,"body":"it"},{"startTime":2267.651,"endTime":2271.704,"body":"down"},{"startTime":2271.704,"endTime":2275.757,"body":"to"},{"startTime":2275.757,"endTime":2279.81,"body":"two"},{"startTime":2279.81,"endTime":2283.863,"body":"or"},{"startTime":2283.863,"endTime":2287.916,"body":"three"},{"startTime":2287.916,"endTime":2291.969,"body":"that"},{"startTime":2291.969,"endTime":2296.022,"body":"we"},{"startTime":2296.022,"endTime":2300.075,"body":"liked"},{"startTime":2300.075,"endTime":2304.128,"body":"in"},{"startTime":2304.128,"endTime":2308.181,"body":"particular."},{"startTime":2186.591,"endTime":2188.743,"body":"\rNowthe"},{"startTime":2188.743,"endTime":2189.819,"body":"first"},{"startTime":2189.819,"endTime":2190.895,"body":"one,"},{"startTime":2190.895,"endTime":2191.971,"body":"and,"},{"startTime":2191.971,"endTime":2193.047,"body":"by"},{"startTime":2193.047,"endTime":2194.123,"body":"the"},{"startTime":2194.123,"endTime":2195.199,"body":"way,"},{"startTime":2195.199,"endTime":2196.275,"body":"courtesy"},{"startTime":2196.275,"endTime":2197.351,"body":"mostly"},{"startTime":2197.351,"endTime":2198.427,"body":"by"},{"startTime":2198.427,"endTime":2199.503,"body":"our"},{"startTime":2199.503,"endTime":2200.579,"body":"friends"},{"startTime":2200.579,"endTime":2201.655,"body":"over"},{"startTime":2201.655,"endTime":2202.731,"body":"at"},{"startTime":2202.731,"endTime":2203.807,"body":"Man"},{"startTime":2203.807,"endTime":2204.883,"body":"Group"},{"startTime":2204.883,"endTime":2205.959,"body":"because"},{"startTime":2205.959,"endTime":2207.035,"body":"have"},{"startTime":2207.035,"endTime":2208.111,"body":"been"},{"startTime":2208.111,"endTime":2209.187,"body":"very"},{"startTime":2209.187,"endTime":2210.263,"body":"busy"},{"startTime":2210.263,"endTime":2211.339,"body":"recently,"},{"startTime":2211.339,"endTime":2212.415,"body":"and"},{"startTime":2212.415,"endTime":2213.491,"body":"they"},{"startTime":2213.491,"endTime":2214.567,"body":"have"},{"startTime":2214.567,"endTime":2215.643,"body":"put"},{"startTime":2215.643,"endTime":2216.719,"body":"out"},{"startTime":2216.719,"endTime":2217.795,"body":"some"},{"startTime":2217.795,"endTime":2218.871,"body":"really"},{"startTime":2218.871,"endTime":2219.947,"body":"interesting"},{"startTime":2219.947,"endTime":2221.023,"body":"ones"},{"startTime":2221.023,"endTime":2222.099,"body":"although"},{"startTime":2222.099,"endTime":2223.175,"body":"the"},{"startTime":2223.175,"endTime":2224.251,"body":"first"},{"startTime":2224.251,"endTime":2225.327,"body":"one"},{"startTime":2225.327,"endTime":2226.403,"body":"is"},{"startTime":2226.403,"endTime":2227.479,"body":"a"},{"startTime":2227.479,"endTime":2228.555,"body":"probably"},{"startTime":2228.555,"endTime":2229.631,"body":"a"},{"startTime":2229.631,"endTime":2230.707,"body":"few"},{"startTime":2230.707,"endTime":2231.783,"body":"weeks"},{"startTime":2231.783,"endTime":2232.859,"body":"old,"},{"startTime":2232.859,"endTime":2233.935,"body":"and"},{"startTime":2233.935,"endTime":2235.011,"body":"I"},{"startTime":2235.011,"endTime":2236.087,"body":"think"},{"startTime":2236.087,"endTime":2237.163,"body":"Alan"},{"startTime":2237.163,"endTime":2238.239,"body":"and"},{"startTime":2238.239,"endTime":2239.315,"body":"I"},{"startTime":2239.315,"endTime":2240.391,"body":"quickly"},{"startTime":2240.391,"endTime":2241.467,"body":"touched"},{"startTime":2241.467,"endTime":2242.543,"body":"on"},{"startTime":2242.543,"endTime":2243.619,"body":"it."},{"startTime":2243.619,"endTime":2244.695,"body":"That's"},{"startTime":2244.695,"endTime":2245.771,"body":"why"},{"startTime":2245.771,"endTime":2246.847,"body":"I"},{"startTime":2246.847,"endTime":2247.923,"body":"was"},{"startTime":2247.923,"endTime":2248.999,"body":"delighted"},{"startTime":2248.999,"endTime":2250.075,"body":"when"},{"startTime":2250.075,"endTime":2251.151,"body":"I"},{"startTime":2251.151,"endTime":2252.227,"body":"saw"},{"startTime":2252.227,"endTime":2253.303,"body":"you"},{"startTime":2253.303,"endTime":2254.379,"body":"wanted"},{"startTime":2254.379,"endTime":2255.455,"body":"to"},{"startTime":2255.455,"endTime":2256.531,"body":"say"},{"startTime":2256.531,"endTime":2257.607,"body":"a"},{"startTime":2257.607,"endTime":2258.683,"body":"few"},{"startTime":2258.683,"endTime":2259.759,"body":"words"},{"startTime":2259.759,"endTime":2260.835,"body":"about"},{"startTime":2260.835,"endTime":2261.911,"body":"it"},{"startTime":2261.911,"endTime":2262.987,"body":"and"},{"startTime":2262.987,"endTime":2264.063,"body":"even"},{"startTime":2264.063,"endTime":2265.139,"body":"more"},{"startTime":2265.139,"endTime":2266.215,"body":"delighted"},{"startTime":2266.215,"endTime":2267.291,"body":"to"},{"startTime":2267.291,"endTime":2268.367,"body":"say"},{"startTime":2268.367,"endTime":2269.443,"body":"that"},{"startTime":2269.443,"endTime":2270.519,"body":"I"},{"startTime":2270.519,"endTime":2271.595,"body":"think"},{"startTime":2271.595,"endTime":2272.671,"body":"I"},{"startTime":2272.671,"endTime":2273.747,"body":"might"},{"startTime":2273.747,"endTime":2274.823,"body":"get"},{"startTime":2274.823,"endTime":2275.899,"body":"one"},{"startTime":2275.899,"endTime":2276.975,"body":"of"},{"startTime":2276.975,"endTime":2278.051,"body":"the"},{"startTime":2278.051,"endTime":2279.127,"body":"authors"},{"startTime":2279.127,"endTime":2280.203,"body":"of"},{"startTime":2280.203,"endTime":2281.279,"body":"the"},{"startTime":2281.279,"endTime":2282.355,"body":"paper"},{"startTime":2282.355,"endTime":2283.431,"body":"on"},{"startTime":2283.431,"endTime":2284.507,"body":"the"},{"startTime":2284.507,"endTime":2285.583,"body":"podcast"},{"startTime":2285.583,"endTime":2286.659,"body":"along"},{"startTime":2286.659,"endTime":2287.735,"body":"with"},{"startTime":2287.735,"endTime":2288.811,"body":"Katy,"},{"startTime":2288.811,"endTime":2289.887,"body":"in"},{"startTime":2289.887,"endTime":2290.963,"body":"a"},{"startTime":2290.963,"endTime":2292.039,"body":"couple"},{"startTime":2292.039,"endTime":2293.115,"body":"of"},{"startTime":2293.115,"endTime":2294.191,"body":"weeks,"},{"startTime":2294.191,"endTime":2295.267,"body":"so"},{"startTime":2295.267,"endTime":2296.343,"body":"we"},{"startTime":2296.343,"endTime":2297.419,"body":"could"},{"startTime":2297.419,"endTime":2298.495,"body":"also"},{"startTime":2298.495,"endTime":2299.571,"body":"maybe"},{"startTime":2299.571,"endTime":2300.647,"body":"leave"},{"startTime":2300.647,"endTime":2301.723,"body":"some"},{"startTime":2301.723,"endTime":2302.799,"body":"questions"},{"startTime":2302.799,"endTime":2303.875,"body":"for"},{"startTime":2303.875,"endTime":2304.951,"body":"him."},{"startTime":2304.951,"endTime":2306.027,"body":"You"},{"startTime":2306.027,"endTime":2307.103,"body":"never"},{"startTime":2307.103,"endTime":2308.179,"body":"know."},{"startTime":2186.591,"endTime":2188.885,"body":"\rSo,as"},{"startTime":2188.885,"endTime":2190.032,"body":"I"},{"startTime":2190.032,"endTime":2191.179,"body":"said,"},{"startTime":2191.179,"endTime":2192.326,"body":"I"},{"startTime":2192.326,"endTime":2193.473,"body":"may"},{"startTime":2193.473,"endTime":2194.62,"body":"have"},{"startTime":2194.62,"endTime":2195.767,"body":"touched"},{"startTime":2195.767,"endTime":2196.914,"body":"on"},{"startTime":2196.914,"endTime":2198.061,"body":"it"},{"startTime":2198.061,"endTime":2199.208,"body":"already"},{"startTime":2199.208,"endTime":2200.355,"body":"a"},{"startTime":2200.355,"endTime":2201.502,"body":"little"},{"startTime":2201.502,"endTime":2202.649,"body":"bit."},{"startTime":2202.649,"endTime":2203.796,"body":"It's"},{"startTime":2203.796,"endTime":2204.943,"body":"the"},{"startTime":2204.943,"endTime":2206.09,"body":"paper"},{"startTime":2206.09,"endTime":2207.237,"body":"called"},{"startTime":2207.237,"endTime":2208.384,"body":"A"},{"startTime":2208.384,"endTime":2209.531,"body":"Trend"},{"startTime":2209.531,"endTime":2210.678,"body":"Following"},{"startTime":2210.678,"endTime":2211.825,"body":"Deep"},{"startTime":2211.825,"endTime":2212.972,"body":"Dive:"},{"startTime":2212.972,"endTime":2214.119,"body":"The"},{"startTime":2214.119,"endTime":2215.266,"body":"optimal"},{"startTime":2215.266,"endTime":2216.413,"body":"Market"},{"startTime":2216.413,"endTime":2217.56,"body":"Mix"},{"startTime":2217.56,"endTime":2218.707,"body":"for"},{"startTime":2218.707,"endTime":2219.854,"body":"a"},{"startTime":2219.854,"endTime":2221.001,"body":"Trend"},{"startTime":2221.001,"endTime":2222.148,"body":"Follower."},{"startTime":2222.148,"endTime":2223.295,"body":"Now,"},{"startTime":2223.295,"endTime":2224.442,"body":"of"},{"startTime":2224.442,"endTime":2225.589,"body":"course"},{"startTime":2225.589,"endTime":2226.736,"body":"the"},{"startTime":2226.736,"endTime":2227.883,"body":"topic"},{"startTime":2227.883,"endTime":2229.03,"body":"itself"},{"startTime":2229.03,"endTime":2230.177,"body":"is"},{"startTime":2230.177,"endTime":2231.324,"body":"relevant"},{"startTime":2231.324,"endTime":2232.471,"body":"because"},{"startTime":2232.471,"endTime":2233.618,"body":"we"},{"startTime":2233.618,"endTime":2234.765,"body":"talk"},{"startTime":2234.765,"endTime":2235.912,"body":"a"},{"startTime":2235.912,"endTime":2237.059,"body":"lot"},{"startTime":2237.059,"endTime":2238.206,"body":"about"},{"startTime":2238.206,"endTime":2239.353,"body":"it"},{"startTime":2239.353,"endTime":2240.5,"body":"over"},{"startTime":2240.5,"endTime":2241.647,"body":"the"},{"startTime":2241.647,"endTime":2242.794,"body":"years;"},{"startTime":2242.794,"endTime":2243.941,"body":"which"},{"startTime":2243.941,"endTime":2245.088,"body":"market"},{"startTime":2245.088,"endTime":2246.235,"body":"should"},{"startTime":2246.235,"endTime":2247.382,"body":"we"},{"startTime":2247.382,"endTime":2248.529,"body":"trade,"},{"startTime":2248.529,"endTime":2249.676,"body":"do"},{"startTime":2249.676,"endTime":2250.823,"body":"we"},{"startTime":2250.823,"endTime":2251.97,"body":"trade"},{"startTime":2251.97,"endTime":2253.117,"body":"too"},{"startTime":2253.117,"endTime":2254.264,"body":"many,"},{"startTime":2254.264,"endTime":2255.411,"body":"too"},{"startTime":2255.411,"endTime":2256.558,"body":"few,"},{"startTime":2256.558,"endTime":2257.705,"body":"and"},{"startTime":2257.705,"endTime":2258.852,"body":"all"},{"startTime":2258.852,"endTime":2259.999,"body":"of"},{"startTime":2259.999,"endTime":2261.146,"body":"that."},{"startTime":2261.146,"endTime":2262.293,"body":"And"},{"startTime":2262.293,"endTime":2263.44,"body":"we"},{"startTime":2263.44,"endTime":2264.587,"body":"all"},{"startTime":2264.587,"endTime":2265.734,"body":"have"},{"startTime":2265.734,"endTime":2266.881,"body":"our"},{"startTime":2266.881,"endTime":2268.028,"body":"different"},{"startTime":2268.028,"endTime":2269.175,"body":"views"},{"startTime":2269.175,"endTime":2270.322,"body":"and"},{"startTime":2270.322,"endTime":2271.469,"body":"we"},{"startTime":2271.469,"endTime":2272.616,"body":"favor"},{"startTime":2272.616,"endTime":2273.763,"body":"different"},{"startTime":2273.763,"endTime":2274.91,"body":"solutions"},{"startTime":2274.91,"endTime":2276.057,"body":"but"},{"startTime":2276.057,"endTime":2277.204,"body":"it's"},{"startTime":2277.204,"endTime":2278.351,"body":"not"},{"startTime":2278.351,"endTime":2279.498,"body":"always"},{"startTime":2279.498,"endTime":2280.645,"body":"we've"},{"startTime":2280.645,"endTime":2281.792,"body":"been"},{"startTime":2281.792,"endTime":2282.939,"body":"very"},{"startTime":2282.939,"endTime":2284.086,"body":"good"},{"startTime":2284.086,"endTime":2285.233,"body":"at"},{"startTime":2285.233,"endTime":2286.38,"body":"eloquently"},{"startTime":2286.38,"endTime":2287.527,"body":"describing"},{"startTime":2287.527,"endTime":2288.674,"body":"the"},{"startTime":2288.674,"endTime":2289.821,"body":"benefits"},{"startTime":2289.821,"endTime":2290.968,"body":"of"},{"startTime":2290.968,"endTime":2292.115,"body":"doing"},{"startTime":2292.115,"endTime":2293.262,"body":"one"},{"startTime":2293.262,"endTime":2294.409,"body":"choice"},{"startTime":2294.409,"endTime":2295.556,"body":"versus"},{"startTime":2295.556,"endTime":2296.703,"body":"another"},{"startTime":2296.703,"endTime":2297.85,"body":"choice."},{"startTime":2297.85,"endTime":2298.997,"body":"And"},{"startTime":2298.997,"endTime":2300.144,"body":"this"},{"startTime":2300.144,"endTime":2301.291,"body":"is"},{"startTime":2301.291,"endTime":2302.438,"body":"what"},{"startTime":2302.438,"endTime":2303.585,"body":"I"},{"startTime":2303.585,"endTime":2304.732,"body":"love"},{"startTime":2304.732,"endTime":2305.879,"body":"about"},{"startTime":2305.879,"endTime":2307.026,"body":"the"},{"startTime":2307.026,"endTime":2308.173,"body":"paper."},{"startTime":2186.591,"endTime":2190.783,"body":"\rIt'sa"},{"startTime":2190.783,"endTime":2192.879,"body":"very"},{"startTime":2192.879,"endTime":2194.975,"body":"visual,"},{"startTime":2194.975,"endTime":2197.071,"body":"easy"},{"startTime":2197.071,"endTime":2199.167,"body":"walkthrough"},{"startTime":2199.167,"endTime":2201.263,"body":"in"},{"startTime":2201.263,"endTime":2203.359,"body":"terms"},{"startTime":2203.359,"endTime":2205.455,"body":"of"},{"startTime":2205.455,"endTime":2207.551,"body":"what"},{"startTime":2207.551,"endTime":2209.647,"body":"people"},{"startTime":2209.647,"endTime":2211.743,"body":"should"},{"startTime":2211.743,"endTime":2213.839,"body":"be"},{"startTime":2213.839,"endTime":2215.935,"body":"likely"},{"startTime":2215.935,"endTime":2218.031,"body":"to"},{"startTime":2218.031,"endTime":2220.127,"body":"expect"},{"startTime":2220.127,"endTime":2222.223,"body":"from"},{"startTime":2222.223,"endTime":2224.319,"body":"choosing"},{"startTime":2224.319,"endTime":2226.415,"body":"managers"},{"startTime":2226.415,"endTime":2228.511,"body":"trading"},{"startTime":2228.511,"endTime":2230.607,"body":"different"},{"startTime":2230.607,"endTime":2232.703,"body":"market"},{"startTime":2232.703,"endTime":2234.799,"body":"universes."},{"startTime":2234.799,"endTime":2236.895,"body":"I"},{"startTime":2236.895,"endTime":2238.991,"body":"think"},{"startTime":2238.991,"endTime":2241.087,"body":"they"},{"startTime":2241.087,"endTime":2243.183,"body":"made"},{"startTime":2243.183,"endTime":2245.279,"body":"that"},{"startTime":2245.279,"endTime":2247.375,"body":"in"},{"startTime":2247.375,"endTime":2249.471,"body":"a"},{"startTime":2249.471,"endTime":2251.567,"body":"very"},{"startTime":2251.567,"endTime":2253.663,"body":"eloquent"},{"startTime":2253.663,"endTime":2255.759,"body":"way."},{"startTime":2255.759,"endTime":2257.855,"body":"Of"},{"startTime":2257.855,"endTime":2259.951,"body":"course,"},{"startTime":2259.951,"endTime":2262.047,"body":"if"},{"startTime":2262.047,"endTime":2264.143,"body":"you"},{"startTime":2264.143,"endTime":2266.239,"body":"want"},{"startTime":2266.239,"endTime":2268.335,"body":"to"},{"startTime":2268.335,"endTime":2270.431,"body":"read"},{"startTime":2270.431,"endTime":2272.527,"body":"the"},{"startTime":2272.527,"endTime":2274.623,"body":"paper"},{"startTime":2274.623,"endTime":2276.719,"body":"you"},{"startTime":2276.719,"endTime":2278.815,"body":"should"},{"startTime":2278.815,"endTime":2280.911,"body":"go"},{"startTime":2280.911,"endTime":2283.007,"body":"to"},{"startTime":2283.007,"endTime":2285.103,"body":"the"},{"startTime":2285.103,"endTime":2287.199,"body":"man.com"},{"startTime":2287.199,"endTime":2289.295,"body":"and"},{"startTime":2289.295,"endTime":2291.391,"body":"the"},{"startTime":2291.391,"endTime":2293.487,"body":"insights."},{"startTime":2293.487,"endTime":2295.583,"body":"That's"},{"startTime":2295.583,"endTime":2297.679,"body":"where"},{"startTime":2297.679,"endTime":2299.775,"body":"you"},{"startTime":2299.775,"endTime":2301.871,"body":"will"},{"startTime":2301.871,"endTime":2303.967,"body":"find"},{"startTime":2303.967,"endTime":2306.063,"body":"the"},{"startTime":2306.063,"endTime":2308.159,"body":"paper."},{"startTime":2186.591,"endTime":2198.171,"body":"\rSoanyways,"},{"startTime":2198.171,"endTime":2203.961,"body":"I"},{"startTime":2203.961,"endTime":2209.751,"body":"very"},{"startTime":2209.751,"endTime":2215.541,"body":"much"},{"startTime":2215.541,"endTime":2221.331,"body":"look"},{"startTime":2221.331,"endTime":2227.121,"body":"forward"},{"startTime":2227.121,"endTime":2232.911,"body":"to"},{"startTime":2232.911,"endTime":2238.701,"body":"hearing"},{"startTime":2238.701,"endTime":2244.491,"body":"your"},{"startTime":2244.491,"endTime":2250.281,"body":"thoughts"},{"startTime":2250.281,"endTime":2256.071,"body":"about"},{"startTime":2256.071,"endTime":2261.861,"body":"it,"},{"startTime":2261.861,"endTime":2267.651,"body":"Nick,"},{"startTime":2267.651,"endTime":2273.441,"body":"and"},{"startTime":2273.441,"endTime":2279.231,"body":"then"},{"startTime":2279.231,"endTime":2285.021,"body":"we'll"},{"startTime":2285.021,"endTime":2290.811,"body":"take"},{"startTime":2290.811,"endTime":2296.601,"body":"it"},{"startTime":2296.601,"endTime":2302.391,"body":"from"},{"startTime":2302.391,"endTime":2308.181,"body":"there."},{"startTime":2309.601,"endTime":2314.23,"body":"It"},{"startTime":2314.23,"endTime":2318.859,"body":"was"},{"startTime":2318.859,"endTime":2323.488,"body":"a"},{"startTime":2323.488,"endTime":2328.117,"body":"very"},{"startTime":2328.117,"endTime":2332.746,"body":"good"},{"startTime":2332.746,"endTime":2337.375,"body":"read,"},{"startTime":2337.375,"endTime":2342.004,"body":"I"},{"startTime":2342.004,"endTime":2346.633,"body":"think,"},{"startTime":2346.633,"endTime":2351.262,"body":"so,"},{"startTime":2351.262,"endTime":2355.891,"body":"why"},{"startTime":2355.891,"endTime":2360.52,"body":"did"},{"startTime":2360.52,"endTime":2365.149,"body":"that"},{"startTime":2365.149,"endTime":2369.778,"body":"resonate"},{"startTime":2369.778,"endTime":2374.407,"body":"quite"},{"startTime":2374.407,"endTime":2379.036,"body":"well"},{"startTime":2379.036,"endTime":2383.665,"body":"with"},{"startTime":2383.665,"endTime":2388.294,"body":"me?"},{"startTime":2388.294,"endTime":2392.923,"body":"Because"},{"startTime":2392.923,"endTime":2397.552,"body":"we"},{"startTime":2397.552,"endTime":2402.181,"body":"always"},{"startTime":2402.181,"endTime":2406.81,"body":"discuss"},{"startTime":2406.81,"endTime":2411.439,"body":"how"},{"startTime":2411.439,"endTime":2416.068,"body":"defensive"},{"startTime":2416.068,"endTime":2420.697,"body":"your"},{"startTime":2420.697,"endTime":2425.326,"body":"trend"},{"startTime":2425.326,"endTime":2429.955,"body":"follower"},{"startTime":2429.955,"endTime":2434.584,"body":"is;"},{"startTime":2434.584,"endTime":2439.213,"body":"what's"},{"startTime":2439.213,"endTime":2443.842,"body":"a"},{"startTime":2443.842,"endTime":2448.471,"body":"universe,"},{"startTime":2448.471,"endTime":2453.1,"body":"a"},{"startTime":2453.1,"endTime":2457.729,"body":"core"},{"startTime":2457.729,"endTime":2462.358,"body":"market,"},{"startTime":2462.358,"endTime":2466.987,"body":"a"},{"startTime":2466.987,"endTime":2471.616,"body":"broad"},{"startTime":2471.616,"endTime":2476.245,"body":"market,"},{"startTime":2476.245,"endTime":2480.874,"body":"alternative"},{"startTime":2480.874,"endTime":2485.503,"body":"market,"},{"startTime":2485.503,"endTime":2490.132,"body":"whatever"},{"startTime":2490.132,"endTime":2494.761,"body":"market."},{"startTime":2494.761,"endTime":2499.39,"body":"I"},{"startTime":2499.39,"endTime":2504.019,"body":"think"},{"startTime":2504.019,"endTime":2508.648,"body":"the"},{"startTime":2508.648,"endTime":2513.277,"body":"reason"},{"startTime":2513.277,"endTime":2517.906,"body":"why"},{"startTime":2517.906,"endTime":2522.535,"body":"I"},{"startTime":2522.535,"endTime":2527.164,"body":"like"},{"startTime":2527.164,"endTime":2531.793,"body":"this"},{"startTime":2531.793,"endTime":2536.422,"body":"particular"},{"startTime":2536.422,"endTime":2541.051,"body":"one"},{"startTime":2541.051,"endTime":2545.68,"body":"is"},{"startTime":2545.68,"endTime":2550.309,"body":"because"},{"startTime":2550.309,"endTime":2554.938,"body":"it"},{"startTime":2554.938,"endTime":2559.567,"body":"connects"},{"startTime":2559.567,"endTime":2564.196,"body":"a"},{"startTime":2564.196,"endTime":2568.825,"body":"use"},{"startTime":2568.825,"endTime":2573.454,"body":"case"},{"startTime":2573.454,"endTime":2578.083,"body":"to"},{"startTime":2578.083,"endTime":2582.712,"body":"the"},{"startTime":2582.712,"endTime":2587.341,"body":"universe"},{"startTime":2587.341,"endTime":2591.97,"body":"that"},{"startTime":2591.97,"endTime":2596.599,"body":"you"},{"startTime":2596.599,"endTime":2601.228,"body":"use."},{"startTime":2309.601,"endTime":2318.859,"body":"\rSo,we"},{"startTime":2318.859,"endTime":2323.488,"body":"typically"},{"startTime":2323.488,"endTime":2328.117,"body":"say"},{"startTime":2328.117,"endTime":2332.746,"body":"you"},{"startTime":2332.746,"endTime":2337.375,"body":"want"},{"startTime":2337.375,"endTime":2342.004,"body":"to"},{"startTime":2342.004,"endTime":2346.633,"body":"be"},{"startTime":2346.633,"endTime":2351.262,"body":"defensive,"},{"startTime":2351.262,"endTime":2355.891,"body":"be"},{"startTime":2355.891,"endTime":2360.52,"body":"faster;"},{"startTime":2360.52,"endTime":2365.149,"body":"you"},{"startTime":2365.149,"endTime":2369.778,"body":"want"},{"startTime":2369.778,"endTime":2374.407,"body":"to"},{"startTime":2374.407,"endTime":2379.036,"body":"be"},{"startTime":2379.036,"endTime":2383.665,"body":"longer-term"},{"startTime":2383.665,"endTime":2388.294,"body":"performing,"},{"startTime":2388.294,"endTime":2392.923,"body":"be"},{"startTime":2392.923,"endTime":2397.552,"body":"slower;"},{"startTime":2397.552,"endTime":2402.181,"body":"but"},{"startTime":2402.181,"endTime":2406.81,"body":"bear"},{"startTime":2406.81,"endTime":2411.439,"body":"in"},{"startTime":2411.439,"endTime":2416.068,"body":"mind,"},{"startTime":2416.068,"endTime":2420.697,"body":"you're"},{"startTime":2420.697,"endTime":2425.326,"body":"going"},{"startTime":2425.326,"endTime":2429.955,"body":"to"},{"startTime":2429.955,"endTime":2434.584,"body":"get"},{"startTime":2434.584,"endTime":2439.213,"body":"a"},{"startTime":2439.213,"endTime":2443.842,"body":"lot"},{"startTime":2443.842,"endTime":2448.471,"body":"of"},{"startTime":2448.471,"endTime":2453.1,"body":"beta"},{"startTime":2453.1,"endTime":2457.729,"body":"risk"},{"startTime":2457.729,"endTime":2462.358,"body":"in"},{"startTime":2462.358,"endTime":2466.987,"body":"your"},{"startTime":2466.987,"endTime":2471.616,"body":"portfolio."},{"startTime":2471.616,"endTime":2476.245,"body":"We"},{"startTime":2476.245,"endTime":2480.874,"body":"always"},{"startTime":2480.874,"endTime":2485.503,"body":"have"},{"startTime":2485.503,"endTime":2490.132,"body":"this"},{"startTime":2490.132,"endTime":2494.761,"body":"conversation,"},{"startTime":2494.761,"endTime":2499.39,"body":"but"},{"startTime":2499.39,"endTime":2504.019,"body":"I"},{"startTime":2504.019,"endTime":2508.648,"body":"don't"},{"startTime":2508.648,"endTime":2513.277,"body":"think"},{"startTime":2513.277,"endTime":2517.906,"body":"we"},{"startTime":2517.906,"endTime":2522.535,"body":"have"},{"startTime":2522.535,"endTime":2527.164,"body":"ever"},{"startTime":2527.164,"endTime":2531.793,"body":"touched"},{"startTime":2531.793,"endTime":2536.422,"body":"upon"},{"startTime":2536.422,"endTime":2541.051,"body":"the"},{"startTime":2541.051,"endTime":2545.68,"body":"point"},{"startTime":2545.68,"endTime":2550.309,"body":"of,"},{"startTime":2550.309,"endTime":2554.938,"body":"you"},{"startTime":2554.938,"endTime":2559.567,"body":"want"},{"startTime":2559.567,"endTime":2564.196,"body":"to"},{"startTime":2564.196,"endTime":2568.825,"body":"be"},{"startTime":2568.825,"endTime":2573.454,"body":"defensive"},{"startTime":2573.454,"endTime":2578.083,"body":"in"},{"startTime":2578.083,"endTime":2582.712,"body":"this"},{"startTime":2582.712,"endTime":2587.341,"body":"universe,"},{"startTime":2587.341,"endTime":2591.97,"body":"do"},{"startTime":2591.97,"endTime":2596.599,"body":"it"},{"startTime":2596.599,"endTime":2601.228,"body":"quickly."},{"startTime":2309.601,"endTime":2601.281,"body":"\r"},{"startTime":2309.601,"endTime":2318.094,"body":"Ithinkthat's"},{"startTime":2318.094,"endTime":2320.925,"body":"why"},{"startTime":2320.925,"endTime":2323.756,"body":"the"},{"startTime":2323.756,"endTime":2326.587,"body":"paper"},{"startTime":2326.587,"endTime":2329.418,"body":"is"},{"startTime":2329.418,"endTime":2332.249,"body":"interesting"},{"startTime":2332.249,"endTime":2335.08,"body":"because"},{"startTime":2335.08,"endTime":2337.911,"body":"it"},{"startTime":2337.911,"endTime":2340.742,"body":"says…"},{"startTime":2340.742,"endTime":2343.573,"body":"Or"},{"startTime":2343.573,"endTime":2346.404,"body":"maybe"},{"startTime":2346.404,"endTime":2349.235,"body":"taking"},{"startTime":2349.235,"endTime":2352.066,"body":"a"},{"startTime":2352.066,"endTime":2354.897,"body":"step"},{"startTime":2354.897,"endTime":2357.728,"body":"back,"},{"startTime":2357.728,"endTime":2360.559,"body":"when"},{"startTime":2360.559,"endTime":2363.39,"body":"we"},{"startTime":2363.39,"endTime":2366.221,"body":"speak"},{"startTime":2366.221,"endTime":2369.052,"body":"about"},{"startTime":2369.052,"endTime":2371.883,"body":"managed"},{"startTime":2371.883,"endTime":2374.714,"body":"futures,"},{"startTime":2374.714,"endTime":2377.545,"body":"there"},{"startTime":2377.545,"endTime":2380.376,"body":"is"},{"startTime":2380.376,"endTime":2383.207,"body":"this"},{"startTime":2383.207,"endTime":2386.038,"body":"kind"},{"startTime":2386.038,"endTime":2388.869,"body":"of"},{"startTime":2388.869,"endTime":2391.7,"body":"duality"},{"startTime":2391.7,"endTime":2394.531,"body":"of"},{"startTime":2394.531,"endTime":2397.362,"body":"objectives."},{"startTime":2397.362,"endTime":2400.193,"body":"I"},{"startTime":2400.193,"endTime":2403.024,"body":"think"},{"startTime":2403.024,"endTime":2405.855,"body":"Cliff"},{"startTime":2405.855,"endTime":2408.686,"body":"Asness"},{"startTime":2408.686,"endTime":2411.517,"body":"wrote"},{"startTime":2411.517,"endTime":2414.348,"body":"about"},{"startTime":2414.348,"endTime":2417.179,"body":"it"},{"startTime":2417.179,"endTime":2420.01,"body":"a"},{"startTime":2420.01,"endTime":2422.841,"body":"couple"},{"startTime":2422.841,"endTime":2425.672,"body":"of"},{"startTime":2425.672,"endTime":2428.503,"body":"years"},{"startTime":2428.503,"endTime":2431.334,"body":"back"},{"startTime":2431.334,"endTime":2434.165,"body":"and"},{"startTime":2434.165,"endTime":2436.996,"body":"I"},{"startTime":2436.996,"endTime":2439.827,"body":"keep"},{"startTime":2439.827,"endTime":2442.658,"body":"on"},{"startTime":2442.658,"endTime":2445.489,"body":"using"},{"startTime":2445.489,"endTime":2448.32,"body":"now"},{"startTime":2448.32,"endTime":2451.151,"body":"this"},{"startTime":2451.151,"endTime":2453.982,"body":"kind"},{"startTime":2453.982,"endTime":2456.813,"body":"of"},{"startTime":2456.813,"endTime":2459.644,"body":"duality"},{"startTime":2459.644,"endTime":2462.475,"body":"term."},{"startTime":2462.475,"endTime":2465.306,"body":"It's"},{"startTime":2465.306,"endTime":2468.137,"body":"one"},{"startTime":2468.137,"endTime":2470.968,"body":"of"},{"startTime":2470.968,"endTime":2473.799,"body":"the"},{"startTime":2473.799,"endTime":2476.63,"body":"very"},{"startTime":2476.63,"endTime":2479.461,"body":"few"},{"startTime":2479.461,"endTime":2482.292,"body":"systematic"},{"startTime":2482.292,"endTime":2485.123,"body":"strategies"},{"startTime":2485.123,"endTime":2487.954,"body":"that"},{"startTime":2487.954,"endTime":2490.785,"body":"deliver"},{"startTime":2490.785,"endTime":2493.616,"body":"long-term"},{"startTime":2493.616,"endTime":2496.447,"body":"positive"},{"startTime":2496.447,"endTime":2499.278,"body":"returns"},{"startTime":2499.278,"endTime":2502.109,"body":"and"},{"startTime":2502.109,"endTime":2504.94,"body":"kind"},{"startTime":2504.94,"endTime":2507.771,"body":"of"},{"startTime":2507.771,"endTime":2510.602,"body":"downside"},{"startTime":2510.602,"endTime":2513.433,"body":"protection,"},{"startTime":2513.433,"endTime":2516.264,"body":"some"},{"startTime":2516.264,"endTime":2519.095,"body":"sort"},{"startTime":2519.095,"endTime":2521.926,"body":"of"},{"startTime":2521.926,"endTime":2524.757,"body":"a"},{"startTime":2524.757,"endTime":2527.588,"body":"crisis"},{"startTime":2527.588,"endTime":2530.419,"body":"alpha"},{"startTime":2530.419,"endTime":2533.25,"body":"(to"},{"startTime":2533.25,"endTime":2536.081,"body":"use"},{"startTime":2536.081,"endTime":2538.912,"body":"Katy's"},{"startTime":2538.912,"endTime":2541.743,"body":"term),"},{"startTime":2541.743,"endTime":2544.574,"body":"some"},{"startTime":2544.574,"endTime":2547.405,"body":"sort"},{"startTime":2547.405,"endTime":2550.236,"body":"of"},{"startTime":2550.236,"endTime":2553.067,"body":"a"},{"startTime":2553.067,"endTime":2555.898,"body":"reactivity"},{"startTime":2555.898,"endTime":2558.729,"body":"when"},{"startTime":2558.729,"endTime":2561.56,"body":"the"},{"startTime":2561.56,"endTime":2564.391,"body":"markets"},{"startTime":2564.391,"endTime":2567.222,"body":"are"},{"startTime":2567.222,"endTime":2570.053,"body":"falling,"},{"startTime":2570.053,"endTime":2572.884,"body":"but"},{"startTime":2572.884,"endTime":2575.715,"body":"not"},{"startTime":2575.715,"endTime":2578.546,"body":"obviously"},{"startTime":2578.546,"endTime":2581.377,"body":"sharply"},{"startTime":2581.377,"endTime":2584.208,"body":"but"},{"startTime":2584.208,"endTime":2587.039,"body":"in"},{"startTime":2587.039,"endTime":2589.87,"body":"a"},{"startTime":2589.87,"endTime":2592.701,"body":"kind"},{"startTime":2592.701,"endTime":2595.532,"body":"of"},{"startTime":2595.532,"endTime":2598.363,"body":"a"},{"startTime":2598.363,"endTime":2601.194,"body":"medium-term."},{"startTime":2309.601,"endTime":2321.753,"body":"\rSo,this"},{"startTime":2321.753,"endTime":2327.829,"body":"duality"},{"startTime":2327.829,"endTime":2333.905,"body":"of"},{"startTime":2333.905,"endTime":2339.981,"body":"objectives,"},{"startTime":2339.981,"endTime":2346.057,"body":"frankly"},{"startTime":2346.057,"endTime":2352.133,"body":"I"},{"startTime":2352.133,"endTime":2358.209,"body":"don't"},{"startTime":2358.209,"endTime":2364.285,"body":"think"},{"startTime":2364.285,"endTime":2370.361,"body":"anything"},{"startTime":2370.361,"endTime":2376.437,"body":"bad"},{"startTime":2376.437,"endTime":2382.513,"body":"trend"},{"startTime":2382.513,"endTime":2388.589,"body":"following"},{"startTime":2388.589,"endTime":2394.665,"body":"commodity"},{"startTime":2394.665,"endTime":2400.741,"body":"curve"},{"startTime":2400.741,"endTime":2406.817,"body":"to"},{"startTime":2406.817,"endTime":2412.893,"body":"basically"},{"startTime":2412.893,"endTime":2418.969,"body":"say"},{"startTime":2418.969,"endTime":2425.045,"body":"the"},{"startTime":2425.045,"endTime":2431.121,"body":"one"},{"startTime":2431.121,"endTime":2437.197,"body":"that"},{"startTime":2437.197,"endTime":2443.273,"body":"we"},{"startTime":2443.273,"endTime":2449.349,"body":"started"},{"startTime":2449.349,"endTime":2455.425,"body":"from."},{"startTime":2455.425,"endTime":2461.501,"body":"So,"},{"startTime":2461.501,"endTime":2467.577,"body":"it's"},{"startTime":2467.577,"endTime":2473.653,"body":"typically"},{"startTime":2473.653,"endTime":2479.729,"body":"defensive"},{"startTime":2479.729,"endTime":2485.805,"body":"as"},{"startTime":2485.805,"endTime":2491.881,"body":"well"},{"startTime":2491.881,"endTime":2497.957,"body":"because"},{"startTime":2497.957,"endTime":2504.033,"body":"it's"},{"startTime":2504.033,"endTime":2510.109,"body":"kind"},{"startTime":2510.109,"endTime":2516.185,"body":"of"},{"startTime":2516.185,"endTime":2522.261,"body":"shorting"},{"startTime":2522.261,"endTime":2528.337,"body":"in"},{"startTime":2528.337,"endTime":2534.413,"body":"front"},{"startTime":2534.413,"endTime":2540.489,"body":"of"},{"startTime":2540.489,"endTime":2546.565,"body":"commodities."},{"startTime":2546.565,"endTime":2552.641,"body":"So,"},{"startTime":2552.641,"endTime":2558.717,"body":"in"},{"startTime":2558.717,"endTime":2564.793,"body":"a"},{"startTime":2564.793,"endTime":2570.869,"body":"non-inflationary"},{"startTime":2570.869,"endTime":2576.945,"body":"recession"},{"startTime":2576.945,"endTime":2583.021,"body":"it"},{"startTime":2583.021,"endTime":2589.097,"body":"actually"},{"startTime":2589.097,"endTime":2595.173,"body":"performs"},{"startTime":2595.173,"endTime":2601.249,"body":"well."},{"startTime":2309.601,"endTime":2325.367,"body":"\rAndthen,"},{"startTime":2325.367,"endTime":2333.25,"body":"I"},{"startTime":2333.25,"endTime":2341.133,"body":"guess,"},{"startTime":2341.133,"endTime":2349.016,"body":"interest"},{"startTime":2349.016,"endTime":2356.899,"body":"rate"},{"startTime":2356.899,"endTime":2364.782,"body":"volatility,"},{"startTime":2364.782,"endTime":2372.665,"body":"there's"},{"startTime":2372.665,"endTime":2380.548,"body":"nothing"},{"startTime":2380.548,"endTime":2388.431,"body":"else,"},{"startTime":2388.431,"endTime":2396.314,"body":"at"},{"startTime":2396.314,"endTime":2404.197,"body":"least"},{"startTime":2404.197,"endTime":2412.08,"body":"in"},{"startTime":2412.08,"endTime":2419.963,"body":"my"},{"startTime":2419.963,"endTime":2427.846,"body":"mind,"},{"startTime":2427.846,"endTime":2435.729,"body":"that"},{"startTime":2435.729,"endTime":2443.612,"body":"doesn't"},{"startTime":2443.612,"endTime":2451.495,"body":"showcase"},{"startTime":2451.495,"endTime":2459.378,"body":"a"},{"startTime":2459.378,"endTime":2467.261,"body":"tradeoff"},{"startTime":2467.261,"endTime":2475.144,"body":"between"},{"startTime":2475.144,"endTime":2483.027,"body":"kind"},{"startTime":2483.027,"endTime":2490.91,"body":"of"},{"startTime":2490.91,"endTime":2498.793,"body":"reactivity"},{"startTime":2498.793,"endTime":2506.676,"body":"or"},{"startTime":2506.676,"endTime":2514.559,"body":"defensiveness"},{"startTime":2514.559,"endTime":2522.442,"body":"and"},{"startTime":2522.442,"endTime":2530.325,"body":"some"},{"startTime":2530.325,"endTime":2538.208,"body":"sort"},{"startTime":2538.208,"endTime":2546.091,"body":"of"},{"startTime":2546.091,"endTime":2553.974,"body":"a"},{"startTime":2553.974,"endTime":2561.857,"body":"kind"},{"startTime":2561.857,"endTime":2569.74,"body":"of"},{"startTime":2569.74,"endTime":2577.623,"body":"cost"},{"startTime":2577.623,"endTime":2585.506,"body":"associated"},{"startTime":2585.506,"endTime":2593.389,"body":"with"},{"startTime":2593.389,"endTime":2601.272,"body":"it."},{"startTime":2309.601,"endTime":2314.855,"body":"\rSo,if"},{"startTime":2314.855,"endTime":2317.482,"body":"we"},{"startTime":2317.482,"endTime":2320.109,"body":"look"},{"startTime":2320.109,"endTime":2322.736,"body":"into"},{"startTime":2322.736,"endTime":2325.363,"body":"this"},{"startTime":2325.363,"endTime":2327.99,"body":"duality,"},{"startTime":2327.99,"endTime":2330.617,"body":"which"},{"startTime":2330.617,"endTime":2333.244,"body":"is"},{"startTime":2333.244,"endTime":2335.871,"body":"performance"},{"startTime":2335.871,"endTime":2338.498,"body":"and"},{"startTime":2338.498,"endTime":2341.125,"body":"defensiveness,"},{"startTime":2341.125,"endTime":2343.752,"body":"we"},{"startTime":2343.752,"endTime":2346.379,"body":"can"},{"startTime":2346.379,"endTime":2349.006,"body":"stretch"},{"startTime":2349.006,"endTime":2351.633,"body":"it"},{"startTime":2351.633,"endTime":2354.26,"body":"out"},{"startTime":2354.26,"endTime":2356.887,"body":"and"},{"startTime":2356.887,"endTime":2359.514,"body":"say,"},{"startTime":2359.514,"endTime":2362.141,"body":"well,"},{"startTime":2362.141,"endTime":2364.768,"body":"how"},{"startTime":2364.768,"endTime":2367.395,"body":"can"},{"startTime":2367.395,"endTime":2370.022,"body":"I"},{"startTime":2370.022,"endTime":2372.649,"body":"maximize"},{"startTime":2372.649,"endTime":2375.276,"body":"my"},{"startTime":2375.276,"endTime":2377.903,"body":"defensiveness"},{"startTime":2377.903,"endTime":2380.53,"body":"and"},{"startTime":2380.53,"endTime":2383.157,"body":"how"},{"startTime":2383.157,"endTime":2385.784,"body":"can"},{"startTime":2385.784,"endTime":2388.411,"body":"I"},{"startTime":2388.411,"endTime":2391.038,"body":"maximize"},{"startTime":2391.038,"endTime":2393.665,"body":"my"},{"startTime":2393.665,"endTime":2396.292,"body":"kind"},{"startTime":2396.292,"endTime":2398.919,"body":"of"},{"startTime":2398.919,"endTime":2401.546,"body":"long-term"},{"startTime":2401.546,"endTime":2404.173,"body":"Sharpe"},{"startTime":2404.173,"endTime":2406.8,"body":"ratio?"},{"startTime":2406.8,"endTime":2409.427,"body":"And"},{"startTime":2409.427,"endTime":2412.054,"body":"surely"},{"startTime":2412.054,"endTime":2414.681,"body":"there's"},{"startTime":2414.681,"endTime":2417.308,"body":"going"},{"startTime":2417.308,"endTime":2419.935,"body":"to"},{"startTime":2419.935,"endTime":2422.562,"body":"be"},{"startTime":2422.562,"endTime":2425.189,"body":"like"},{"startTime":2425.189,"endTime":2427.816,"body":"a"},{"startTime":2427.816,"endTime":2430.443,"body":"tradeoff,"},{"startTime":2430.443,"endTime":2433.07,"body":"now,"},{"startTime":2433.07,"endTime":2435.697,"body":"between,"},{"startTime":2435.697,"endTime":2438.324,"body":"I"},{"startTime":2438.324,"endTime":2440.951,"body":"guess,"},{"startTime":2440.951,"endTime":2443.578,"body":"the"},{"startTime":2443.578,"endTime":2446.205,"body":"choice"},{"startTime":2446.205,"endTime":2448.832,"body":"I"},{"startTime":2448.832,"endTime":2451.459,"body":"have"},{"startTime":2451.459,"endTime":2454.086,"body":"available"},{"startTime":2454.086,"endTime":2456.713,"body":"while"},{"startTime":2456.713,"endTime":2459.34,"body":"still"},{"startTime":2459.34,"endTime":2461.967,"body":"obviously"},{"startTime":2461.967,"endTime":2464.594,"body":"maintaining"},{"startTime":2464.594,"endTime":2467.221,"body":"the"},{"startTime":2467.221,"endTime":2469.848,"body":"duality."},{"startTime":2469.848,"endTime":2472.475,"body":"So,"},{"startTime":2472.475,"endTime":2475.102,"body":"it's"},{"startTime":2475.102,"endTime":2477.729,"body":"not"},{"startTime":2477.729,"endTime":2480.356,"body":"about"},{"startTime":2480.356,"endTime":2482.983,"body":"making,"},{"startTime":2482.983,"endTime":2485.61,"body":"I"},{"startTime":2485.61,"endTime":2488.237,"body":"don't"},{"startTime":2488.237,"endTime":2490.864,"body":"know,"},{"startTime":2490.864,"endTime":2493.491,"body":"negative"},{"startTime":2493.491,"endTime":2496.118,"body":"long-term"},{"startTime":2496.118,"endTime":2498.745,"body":"return"},{"startTime":2498.745,"endTime":2501.372,"body":"or"},{"startTime":2501.372,"endTime":2503.999,"body":"making"},{"startTime":2503.999,"endTime":2506.626,"body":"non-reactive"},{"startTime":2506.626,"endTime":2509.253,"body":"kind"},{"startTime":2509.253,"endTime":2511.88,"body":"of"},{"startTime":2511.88,"endTime":2514.507,"body":"a"},{"startTime":2514.507,"endTime":2517.134,"body":"profile."},{"startTime":2517.134,"endTime":2519.761,"body":"So,"},{"startTime":2519.761,"endTime":2522.388,"body":"I"},{"startTime":2522.388,"endTime":2525.015,"body":"think"},{"startTime":2525.015,"endTime":2527.642,"body":"there"},{"startTime":2527.642,"endTime":2530.269,"body":"is"},{"startTime":2530.269,"endTime":2532.896,"body":"a"},{"startTime":2532.896,"endTime":2535.523,"body":"commonality"},{"startTime":2535.523,"endTime":2538.15,"body":"here"},{"startTime":2538.15,"endTime":2540.777,"body":"in"},{"startTime":2540.777,"endTime":2543.404,"body":"the"},{"startTime":2543.404,"endTime":2546.031,"body":"solution,"},{"startTime":2546.031,"endTime":2548.658,"body":"that"},{"startTime":2548.658,"endTime":2551.285,"body":"being"},{"startTime":2551.285,"endTime":2553.912,"body":"that"},{"startTime":2553.912,"endTime":2556.539,"body":"the"},{"startTime":2556.539,"endTime":2559.166,"body":"duality"},{"startTime":2559.166,"endTime":2561.793,"body":"is"},{"startTime":2561.793,"endTime":2564.42,"body":"preserved,"},{"startTime":2564.42,"endTime":2567.047,"body":"but"},{"startTime":2567.047,"endTime":2569.674,"body":"it's"},{"startTime":2569.674,"endTime":2572.301,"body":"more"},{"startTime":2572.301,"endTime":2574.928,"body":"about"},{"startTime":2574.928,"endTime":2577.555,"body":"kind"},{"startTime":2577.555,"endTime":2580.182,"body":"of"},{"startTime":2580.182,"endTime":2582.809,"body":"the"},{"startTime":2582.809,"endTime":2585.436,"body":"major"},{"startTime":2585.436,"endTime":2588.063,"body":"and"},{"startTime":2588.063,"endTime":2590.69,"body":"the"},{"startTime":2590.69,"endTime":2593.317,"body":"minor"},{"startTime":2593.317,"endTime":2595.944,"body":"in"},{"startTime":2595.944,"endTime":2598.571,"body":"the"},{"startTime":2598.571,"endTime":2601.198,"body":"objective."},{"startTime":2309.601,"endTime":2317.177,"body":"\rAndthey"},{"startTime":2317.177,"endTime":2320.965,"body":"make"},{"startTime":2320.965,"endTime":2324.753,"body":"the"},{"startTime":2324.753,"endTime":2328.541,"body":"point"},{"startTime":2328.541,"endTime":2332.329,"body":"that,"},{"startTime":2332.329,"endTime":2336.117,"body":"look,"},{"startTime":2336.117,"endTime":2339.905,"body":"if"},{"startTime":2339.905,"endTime":2343.693,"body":"you"},{"startTime":2343.693,"endTime":2347.481,"body":"really"},{"startTime":2347.481,"endTime":2351.269,"body":"want"},{"startTime":2351.269,"endTime":2355.057,"body":"to"},{"startTime":2355.057,"endTime":2358.845,"body":"be"},{"startTime":2358.845,"endTime":2362.633,"body":"defensive,"},{"startTime":2362.633,"endTime":2366.421,"body":"and"},{"startTime":2366.421,"endTime":2370.209,"body":"defensive"},{"startTime":2370.209,"endTime":2373.997,"body":"is"},{"startTime":2373.997,"endTime":2377.785,"body":"more"},{"startTime":2377.785,"endTime":2381.573,"body":"about"},{"startTime":2381.573,"endTime":2385.361,"body":"generating"},{"startTime":2385.361,"endTime":2389.149,"body":"positive"},{"startTime":2389.149,"endTime":2392.937,"body":"return"},{"startTime":2392.937,"endTime":2396.725,"body":"when"},{"startTime":2396.725,"endTime":2400.513,"body":"the"},{"startTime":2400.513,"endTime":2404.301,"body":"market"},{"startTime":2404.301,"endTime":2408.089,"body":"goes"},{"startTime":2408.089,"endTime":2411.877,"body":"through"},{"startTime":2411.877,"endTime":2415.665,"body":"a"},{"startTime":2415.665,"endTime":2419.453,"body":"stress"},{"startTime":2419.453,"endTime":2423.241,"body":"situation,"},{"startTime":2423.241,"endTime":2427.029,"body":"then"},{"startTime":2427.029,"endTime":2430.817,"body":"you"},{"startTime":2430.817,"endTime":2434.605,"body":"should"},{"startTime":2434.605,"endTime":2438.393,"body":"have"},{"startTime":2438.393,"endTime":2442.181,"body":"a"},{"startTime":2442.181,"endTime":2445.969,"body":"market"},{"startTime":2445.969,"endTime":2449.757,"body":"universe"},{"startTime":2449.757,"endTime":2453.545,"body":"that"},{"startTime":2453.545,"endTime":2457.333,"body":"is"},{"startTime":2457.333,"endTime":2461.121,"body":"more"},{"startTime":2461.121,"endTime":2464.909,"body":"kind"},{"startTime":2464.909,"endTime":2468.697,"body":"of"},{"startTime":2468.697,"endTime":2472.485,"body":"core,"},{"startTime":2472.485,"endTime":2476.273,"body":"and"},{"startTime":2476.273,"endTime":2480.061,"body":"more"},{"startTime":2480.061,"endTime":2483.849,"body":"kind"},{"startTime":2483.849,"endTime":2487.637,"body":"of"},{"startTime":2487.637,"endTime":2491.425,"body":"standard,"},{"startTime":2491.425,"endTime":2495.213,"body":"and"},{"startTime":2495.213,"endTime":2499.001,"body":"more"},{"startTime":2499.001,"endTime":2502.789,"body":"mainstream,"},{"startTime":2502.789,"endTime":2506.577,"body":"and"},{"startTime":2506.577,"endTime":2510.365,"body":"perhaps"},{"startTime":2510.365,"endTime":2514.153,"body":"more"},{"startTime":2514.153,"endTime":2517.941,"body":"liquid,"},{"startTime":2517.941,"endTime":2521.729,"body":"because,"},{"startTime":2521.729,"endTime":2525.517,"body":"no"},{"startTime":2525.517,"endTime":2529.305,"body":"surprise,"},{"startTime":2529.305,"endTime":2533.093,"body":"when"},{"startTime":2533.093,"endTime":2536.881,"body":"you"},{"startTime":2536.881,"endTime":2540.669,"body":"have"},{"startTime":2540.669,"endTime":2544.457,"body":"a"},{"startTime":2544.457,"endTime":2548.245,"body":"massive"},{"startTime":2548.245,"endTime":2552.033,"body":"correction,"},{"startTime":2552.033,"endTime":2555.821,"body":"it"},{"startTime":2555.821,"endTime":2559.609,"body":"is"},{"startTime":2559.609,"endTime":2563.397,"body":"not"},{"startTime":2563.397,"endTime":2567.185,"body":"that"},{"startTime":2567.185,"endTime":2570.973,"body":"assets"},{"startTime":2570.973,"endTime":2574.761,"body":"fall,"},{"startTime":2574.761,"endTime":2578.549,"body":"it"},{"startTime":2578.549,"endTime":2582.337,"body":"is"},{"startTime":2582.337,"endTime":2586.125,"body":"principal"},{"startTime":2586.125,"endTime":2589.913,"body":"components"},{"startTime":2589.913,"endTime":2593.701,"body":"that"},{"startTime":2593.701,"endTime":2597.489,"body":"are"},{"startTime":2597.489,"endTime":2601.277,"body":"falling."},{"startTime":2309.601,"endTime":2318.055,"body":"\rSo,equities,"},{"startTime":2318.055,"endTime":2322.282,"body":"as"},{"startTime":2322.282,"endTime":2326.509,"body":"a"},{"startTime":2326.509,"endTime":2330.736,"body":"risk,"},{"startTime":2330.736,"endTime":2334.963,"body":"materialize."},{"startTime":2334.963,"endTime":2339.19,"body":"Perhaps,"},{"startTime":2339.19,"endTime":2343.417,"body":"I"},{"startTime":2343.417,"endTime":2347.644,"body":"don't"},{"startTime":2347.644,"endTime":2351.871,"body":"know,"},{"startTime":2351.871,"endTime":2356.098,"body":"in"},{"startTime":2356.098,"endTime":2360.325,"body":"the"},{"startTime":2360.325,"endTime":2364.552,"body":"duration"},{"startTime":2364.552,"endTime":2368.779,"body":"space"},{"startTime":2368.779,"endTime":2373.006,"body":"you"},{"startTime":2373.006,"endTime":2377.233,"body":"have"},{"startTime":2377.233,"endTime":2381.46,"body":"central"},{"startTime":2381.46,"endTime":2385.687,"body":"bank"},{"startTime":2385.687,"endTime":2389.914,"body":"intervention,"},{"startTime":2389.914,"endTime":2394.141,"body":"and"},{"startTime":2394.141,"endTime":2398.368,"body":"you"},{"startTime":2398.368,"endTime":2402.595,"body":"just"},{"startTime":2402.595,"endTime":2406.822,"body":"want"},{"startTime":2406.822,"endTime":2411.049,"body":"to"},{"startTime":2411.049,"endTime":2415.276,"body":"be"},{"startTime":2415.276,"endTime":2419.503,"body":"long"},{"startTime":2419.503,"endTime":2423.73,"body":"bonds"},{"startTime":2423.73,"endTime":2427.957,"body":"or"},{"startTime":2427.957,"endTime":2432.184,"body":"maybe"},{"startTime":2432.184,"endTime":2436.411,"body":"some"},{"startTime":2436.411,"endTime":2440.638,"body":"of"},{"startTime":2440.638,"endTime":2444.865,"body":"the"},{"startTime":2444.865,"endTime":2449.092,"body":"cyclical"},{"startTime":2449.092,"endTime":2453.319,"body":"commodities,"},{"startTime":2453.319,"endTime":2457.546,"body":"except"},{"startTime":2457.546,"endTime":2461.773,"body":"maybe"},{"startTime":2461.773,"endTime":2466,"body":"precious"},{"startTime":2466,"endTime":2470.227,"body":"metals,"},{"startTime":2470.227,"endTime":2474.454,"body":"are"},{"startTime":2474.454,"endTime":2478.681,"body":"suffering"},{"startTime":2478.681,"endTime":2482.908,"body":"from"},{"startTime":2482.908,"endTime":2487.135,"body":"a"},{"startTime":2487.135,"endTime":2491.362,"body":"drop."},{"startTime":2491.362,"endTime":2495.589,"body":"So,"},{"startTime":2495.589,"endTime":2499.816,"body":"ultimately,"},{"startTime":2499.816,"endTime":2504.043,"body":"in"},{"startTime":2504.043,"endTime":2508.27,"body":"a"},{"startTime":2508.27,"endTime":2512.497,"body":"period"},{"startTime":2512.497,"endTime":2516.724,"body":"whereby"},{"startTime":2516.724,"endTime":2520.951,"body":"asset"},{"startTime":2520.951,"endTime":2525.178,"body":"prices"},{"startTime":2525.178,"endTime":2529.405,"body":"get"},{"startTime":2529.405,"endTime":2533.632,"body":"squeezed"},{"startTime":2533.632,"endTime":2537.859,"body":"and"},{"startTime":2537.859,"endTime":2542.086,"body":"maybe"},{"startTime":2542.086,"endTime":2546.313,"body":"correlations"},{"startTime":2546.313,"endTime":2550.54,"body":"are"},{"startTime":2550.54,"endTime":2554.767,"body":"shifting"},{"startTime":2554.767,"endTime":2558.994,"body":"to"},{"startTime":2558.994,"endTime":2563.221,"body":"the"},{"startTime":2563.221,"endTime":2567.448,"body":"extremes,"},{"startTime":2567.448,"endTime":2571.675,"body":"you"},{"startTime":2571.675,"endTime":2575.902,"body":"just"},{"startTime":2575.902,"endTime":2580.129,"body":"want"},{"startTime":2580.129,"endTime":2584.356,"body":"to"},{"startTime":2584.356,"endTime":2588.583,"body":"trade"},{"startTime":2588.583,"endTime":2592.81,"body":"the"},{"startTime":2592.81,"endTime":2597.037,"body":"principal"},{"startTime":2597.037,"endTime":2601.264,"body":"component."},{"startTime":2309.601,"endTime":2318.179,"body":"\rSo,if"},{"startTime":2318.179,"endTime":2322.468,"body":"you"},{"startTime":2322.468,"endTime":2326.757,"body":"stick"},{"startTime":2326.757,"endTime":2331.046,"body":"to"},{"startTime":2331.046,"endTime":2335.335,"body":"a"},{"startTime":2335.335,"endTime":2339.624,"body":"core"},{"startTime":2339.624,"endTime":2343.913,"body":"market"},{"startTime":2343.913,"endTime":2348.202,"body":"universe,"},{"startTime":2348.202,"endTime":2352.491,"body":"even"},{"startTime":2352.491,"endTime":2356.78,"body":"for"},{"startTime":2356.78,"endTime":2361.069,"body":"the"},{"startTime":2361.069,"endTime":2365.358,"body":"same"},{"startTime":2365.358,"endTime":2369.647,"body":"specification"},{"startTime":2369.647,"endTime":2373.936,"body":"of"},{"startTime":2373.936,"endTime":2378.225,"body":"speed"},{"startTime":2378.225,"endTime":2382.514,"body":"and"},{"startTime":2382.514,"endTime":2386.803,"body":"correlation,"},{"startTime":2386.803,"endTime":2391.092,"body":"so"},{"startTime":2391.092,"endTime":2395.381,"body":"on,"},{"startTime":2395.381,"endTime":2399.67,"body":"and"},{"startTime":2399.67,"endTime":2403.959,"body":"so"},{"startTime":2403.959,"endTime":2408.248,"body":"forth,"},{"startTime":2408.248,"endTime":2412.537,"body":"you'll"},{"startTime":2412.537,"endTime":2416.826,"body":"end"},{"startTime":2416.826,"endTime":2421.115,"body":"up"},{"startTime":2421.115,"endTime":2425.404,"body":"maximizing"},{"startTime":2425.404,"endTime":2429.693,"body":"your"},{"startTime":2429.693,"endTime":2433.982,"body":"kind"},{"startTime":2433.982,"endTime":2438.271,"body":"of"},{"startTime":2438.271,"endTime":2442.56,"body":"crisis"},{"startTime":2442.56,"endTime":2446.849,"body":"alpha"},{"startTime":2446.849,"endTime":2451.138,"body":"or"},{"startTime":2451.138,"endTime":2455.427,"body":"defensiveness."},{"startTime":2455.427,"endTime":2459.716,"body":"And"},{"startTime":2459.716,"endTime":2464.005,"body":"I"},{"startTime":2464.005,"endTime":2468.294,"body":"think"},{"startTime":2468.294,"endTime":2472.583,"body":"Andrew"},{"startTime":2472.583,"endTime":2476.872,"body":"would"},{"startTime":2476.872,"endTime":2481.161,"body":"actually"},{"startTime":2481.161,"endTime":2485.45,"body":"be"},{"startTime":2485.45,"endTime":2489.739,"body":"quite"},{"startTime":2489.739,"endTime":2494.028,"body":"opinionated"},{"startTime":2494.028,"endTime":2498.317,"body":"on"},{"startTime":2498.317,"endTime":2502.606,"body":"this"},{"startTime":2502.606,"endTime":2506.895,"body":"one"},{"startTime":2506.895,"endTime":2511.184,"body":"because"},{"startTime":2511.184,"endTime":2515.473,"body":"I"},{"startTime":2515.473,"endTime":2519.762,"body":"think"},{"startTime":2519.762,"endTime":2524.051,"body":"that's"},{"startTime":2524.051,"endTime":2528.34,"body":"part"},{"startTime":2528.34,"endTime":2532.629,"body":"of"},{"startTime":2532.629,"endTime":2536.918,"body":"his"},{"startTime":2536.918,"endTime":2541.207,"body":"speech,"},{"startTime":2541.207,"endTime":2545.496,"body":"that"},{"startTime":2545.496,"endTime":2549.785,"body":"the"},{"startTime":2549.785,"endTime":2554.074,"body":"universe"},{"startTime":2554.074,"endTime":2558.363,"body":"actually"},{"startTime":2558.363,"endTime":2562.652,"body":"quite"},{"startTime":2562.652,"endTime":2566.941,"body":"short"},{"startTime":2566.941,"endTime":2571.23,"body":"but"},{"startTime":2571.23,"endTime":2575.519,"body":"very"},{"startTime":2575.519,"endTime":2579.808,"body":"much"},{"startTime":2579.808,"endTime":2584.097,"body":"representative"},{"startTime":2584.097,"endTime":2588.386,"body":"of"},{"startTime":2588.386,"endTime":2592.675,"body":"the"},{"startTime":2592.675,"endTime":2596.964,"body":"macro"},{"startTime":2596.964,"endTime":2601.253,"body":"moves."},{"startTime":2309.601,"endTime":2318.179,"body":"\rConversely,all"},{"startTime":2318.179,"endTime":2322.468,"body":"the"},{"startTime":2322.468,"endTime":2326.757,"body":"alternative"},{"startTime":2326.757,"endTime":2331.046,"body":"markets,"},{"startTime":2331.046,"endTime":2335.335,"body":"maybe"},{"startTime":2335.335,"endTime":2339.624,"body":"the"},{"startTime":2339.624,"endTime":2343.913,"body":"alternative"},{"startTime":2343.913,"endTime":2348.202,"body":"commodities,"},{"startTime":2348.202,"endTime":2352.491,"body":"or"},{"startTime":2352.491,"endTime":2356.78,"body":"we"},{"startTime":2356.78,"endTime":2361.069,"body":"can"},{"startTime":2361.069,"endTime":2365.358,"body":"go"},{"startTime":2365.358,"endTime":2369.647,"body":"into"},{"startTime":2369.647,"endTime":2373.936,"body":"kind"},{"startTime":2373.936,"endTime":2378.225,"body":"of"},{"startTime":2378.225,"endTime":2382.514,"body":"EM"},{"startTime":2382.514,"endTime":2386.803,"body":"equities,"},{"startTime":2386.803,"endTime":2391.092,"body":"or"},{"startTime":2391.092,"endTime":2395.381,"body":"even"},{"startTime":2395.381,"endTime":2399.67,"body":"equity"},{"startTime":2399.67,"endTime":2403.959,"body":"factors"},{"startTime":2403.959,"endTime":2408.248,"body":"that"},{"startTime":2408.248,"endTime":2412.537,"body":"they"},{"startTime":2412.537,"endTime":2416.826,"body":"also"},{"startTime":2416.826,"endTime":2421.115,"body":"utilize"},{"startTime":2421.115,"endTime":2425.404,"body":"in"},{"startTime":2425.404,"endTime":2429.693,"body":"the"},{"startTime":2429.693,"endTime":2433.982,"body":"paper,"},{"startTime":2433.982,"endTime":2438.271,"body":"this"},{"startTime":2438.271,"endTime":2442.56,"body":"expansion"},{"startTime":2442.56,"endTime":2446.849,"body":"of"},{"startTime":2446.849,"endTime":2451.138,"body":"the"},{"startTime":2451.138,"endTime":2455.427,"body":"universe,"},{"startTime":2455.427,"endTime":2459.716,"body":"by"},{"startTime":2459.716,"endTime":2464.005,"body":"design,"},{"startTime":2464.005,"endTime":2468.294,"body":"brings"},{"startTime":2468.294,"endTime":2472.583,"body":"idiosyncratic"},{"startTime":2472.583,"endTime":2476.872,"body":"risk"},{"startTime":2476.872,"endTime":2481.161,"body":"that,"},{"startTime":2481.161,"endTime":2485.45,"body":"with"},{"startTime":2485.45,"endTime":2489.739,"body":"the"},{"startTime":2489.739,"endTime":2494.028,"body":"assumption"},{"startTime":2494.028,"endTime":2498.317,"body":"of"},{"startTime":2498.317,"endTime":2502.606,"body":"trendiness,"},{"startTime":2502.606,"endTime":2506.895,"body":"would"},{"startTime":2506.895,"endTime":2511.184,"body":"provide"},{"startTime":2511.184,"endTime":2515.473,"body":"longer-term"},{"startTime":2515.473,"endTime":2519.762,"body":"diversification"},{"startTime":2519.762,"endTime":2524.051,"body":"and"},{"startTime":2524.051,"endTime":2528.34,"body":"therefore"},{"startTime":2528.34,"endTime":2532.629,"body":"return,"},{"startTime":2532.629,"endTime":2536.918,"body":"and"},{"startTime":2536.918,"endTime":2541.207,"body":"therefore"},{"startTime":2541.207,"endTime":2545.496,"body":"maximum"},{"startTime":2545.496,"endTime":2549.785,"body":"long-term"},{"startTime":2549.785,"endTime":2554.074,"body":"Sharpe"},{"startTime":2554.074,"endTime":2558.363,"body":"ratio"},{"startTime":2558.363,"endTime":2562.652,"body":"is"},{"startTime":2562.652,"endTime":2566.941,"body":"achieved"},{"startTime":2566.941,"endTime":2571.23,"body":"with"},{"startTime":2571.23,"endTime":2575.519,"body":"a"},{"startTime":2575.519,"endTime":2579.808,"body":"broader"},{"startTime":2579.808,"endTime":2584.097,"body":"universe"},{"startTime":2584.097,"endTime":2588.386,"body":"with"},{"startTime":2588.386,"endTime":2592.675,"body":"more"},{"startTime":2592.675,"endTime":2596.964,"body":"independent"},{"startTime":2596.964,"endTime":2601.253,"body":"bets."},{"startTime":2309.601,"endTime":2316.715,"body":"\rNow,this"},{"startTime":2316.715,"endTime":2320.272,"body":"is"},{"startTime":2320.272,"endTime":2323.829,"body":"not"},{"startTime":2323.829,"endTime":2327.386,"body":"as"},{"startTime":2327.386,"endTime":2330.943,"body":"defensive"},{"startTime":2330.943,"endTime":2334.5,"body":"as"},{"startTime":2334.5,"endTime":2338.057,"body":"the"},{"startTime":2338.057,"endTime":2341.614,"body":"tight"},{"startTime":2341.614,"endTime":2345.171,"body":"universe"},{"startTime":2345.171,"endTime":2348.728,"body":"would"},{"startTime":2348.728,"endTime":2352.285,"body":"be."},{"startTime":2352.285,"endTime":2355.842,"body":"It"},{"startTime":2355.842,"endTime":2359.399,"body":"is"},{"startTime":2359.399,"endTime":2362.956,"body":"still"},{"startTime":2362.956,"endTime":2366.513,"body":"defensive"},{"startTime":2366.513,"endTime":2370.07,"body":"to"},{"startTime":2370.07,"endTime":2373.627,"body":"my"},{"startTime":2373.627,"endTime":2377.184,"body":"earlier"},{"startTime":2377.184,"endTime":2380.741,"body":"point,"},{"startTime":2380.741,"endTime":2384.298,"body":"but"},{"startTime":2384.298,"endTime":2387.855,"body":"longer"},{"startTime":2387.855,"endTime":2391.412,"body":"term"},{"startTime":2391.412,"endTime":2394.969,"body":"has"},{"startTime":2394.969,"endTime":2398.526,"body":"a"},{"startTime":2398.526,"endTime":2402.083,"body":"better"},{"startTime":2402.083,"endTime":2405.64,"body":"Sharpe."},{"startTime":2405.64,"endTime":2409.197,"body":"So,"},{"startTime":2409.197,"endTime":2412.754,"body":"now"},{"startTime":2412.754,"endTime":2416.311,"body":"this"},{"startTime":2416.311,"endTime":2419.868,"body":"poses"},{"startTime":2419.868,"endTime":2423.425,"body":"the"},{"startTime":2423.425,"endTime":2426.982,"body":"question,"},{"startTime":2426.982,"endTime":2430.539,"body":"you"},{"startTime":2430.539,"endTime":2434.096,"body":"being"},{"startTime":2434.096,"endTime":2437.653,"body":"an"},{"startTime":2437.653,"endTime":2441.21,"body":"asset"},{"startTime":2441.21,"endTime":2444.767,"body":"allocator,"},{"startTime":2444.767,"endTime":2448.324,"body":"what"},{"startTime":2448.324,"endTime":2451.881,"body":"do"},{"startTime":2451.881,"endTime":2455.438,"body":"you"},{"startTime":2455.438,"endTime":2458.995,"body":"want"},{"startTime":2458.995,"endTime":2462.552,"body":"to"},{"startTime":2462.552,"endTime":2466.109,"body":"solve"},{"startTime":2466.109,"endTime":2469.666,"body":"for?"},{"startTime":2469.666,"endTime":2473.223,"body":"If"},{"startTime":2473.223,"endTime":2476.78,"body":"you"},{"startTime":2476.78,"endTime":2480.337,"body":"want"},{"startTime":2480.337,"endTime":2483.894,"body":"to"},{"startTime":2483.894,"endTime":2487.451,"body":"solve"},{"startTime":2487.451,"endTime":2491.008,"body":"for"},{"startTime":2491.008,"endTime":2494.565,"body":"defensiveness,"},{"startTime":2494.565,"endTime":2498.122,"body":"how"},{"startTime":2498.122,"endTime":2501.679,"body":"should"},{"startTime":2501.679,"endTime":2505.236,"body":"you"},{"startTime":2505.236,"endTime":2508.793,"body":"look"},{"startTime":2508.793,"endTime":2512.35,"body":"into"},{"startTime":2512.35,"endTime":2515.907,"body":"it?"},{"startTime":2515.907,"endTime":2519.464,"body":"Is"},{"startTime":2519.464,"endTime":2523.021,"body":"it"},{"startTime":2523.021,"endTime":2526.578,"body":"like"},{"startTime":2526.578,"endTime":2530.135,"body":"a"},{"startTime":2530.135,"endTime":2533.692,"body":"speed"},{"startTime":2533.692,"endTime":2537.249,"body":"discussion?"},{"startTime":2537.249,"endTime":2540.806,"body":"Is"},{"startTime":2540.806,"endTime":2544.363,"body":"it"},{"startTime":2544.363,"endTime":2547.92,"body":"a"},{"startTime":2547.92,"endTime":2551.477,"body":"universe"},{"startTime":2551.477,"endTime":2555.034,"body":"discussion?"},{"startTime":2555.034,"endTime":2558.591,"body":"Is"},{"startTime":2558.591,"endTime":2562.148,"body":"it"},{"startTime":2562.148,"endTime":2565.705,"body":"the"},{"startTime":2565.705,"endTime":2569.262,"body":"risk"},{"startTime":2569.262,"endTime":2572.819,"body":"management"},{"startTime":2572.819,"endTime":2576.376,"body":"discussion?"},{"startTime":2576.376,"endTime":2579.933,"body":"But"},{"startTime":2579.933,"endTime":2583.49,"body":"there"},{"startTime":2583.49,"endTime":2587.047,"body":"has"},{"startTime":2587.047,"endTime":2590.604,"body":"to"},{"startTime":2590.604,"endTime":2594.161,"body":"be"},{"startTime":2594.161,"endTime":2597.718,"body":"a"},{"startTime":2597.718,"endTime":2601.275,"body":"discussion."},{"startTime":2309.601,"endTime":2318.715,"body":"\rIfinstead"},{"startTime":2318.715,"endTime":2323.272,"body":"you're"},{"startTime":2323.272,"endTime":2327.829,"body":"looking"},{"startTime":2327.829,"endTime":2332.386,"body":"into"},{"startTime":2332.386,"endTime":2336.943,"body":"it"},{"startTime":2336.943,"endTime":2341.5,"body":"more"},{"startTime":2341.5,"endTime":2346.057,"body":"as"},{"startTime":2346.057,"endTime":2350.614,"body":"an"},{"startTime":2350.614,"endTime":2355.171,"body":"alpha"},{"startTime":2355.171,"endTime":2359.728,"body":"seeking"},{"startTime":2359.728,"endTime":2364.285,"body":"overlay,"},{"startTime":2364.285,"endTime":2368.842,"body":"then"},{"startTime":2368.842,"endTime":2373.399,"body":"maybe"},{"startTime":2373.399,"endTime":2377.956,"body":"a"},{"startTime":2377.956,"endTime":2382.513,"body":"broader"},{"startTime":2382.513,"endTime":2387.07,"body":"universe"},{"startTime":2387.07,"endTime":2391.627,"body":"can"},{"startTime":2391.627,"endTime":2396.184,"body":"be"},{"startTime":2396.184,"endTime":2400.741,"body":"more"},{"startTime":2400.741,"endTime":2405.298,"body":"associated"},{"startTime":2405.298,"endTime":2409.855,"body":"with"},{"startTime":2409.855,"endTime":2414.412,"body":"your"},{"startTime":2414.412,"endTime":2418.969,"body":"objective,"},{"startTime":2418.969,"endTime":2423.526,"body":"and"},{"startTime":2423.526,"endTime":2428.083,"body":"you"},{"startTime":2428.083,"endTime":2432.64,"body":"can"},{"startTime":2432.64,"endTime":2437.197,"body":"meet"},{"startTime":2437.197,"endTime":2441.754,"body":"that"},{"startTime":2441.754,"endTime":2446.311,"body":"objective"},{"startTime":2446.311,"endTime":2450.868,"body":"more"},{"startTime":2450.868,"endTime":2455.425,"body":"successfully."},{"startTime":2455.425,"endTime":2459.982,"body":"So,"},{"startTime":2459.982,"endTime":2464.539,"body":"with"},{"startTime":2464.539,"endTime":2469.096,"body":"the"},{"startTime":2469.096,"endTime":2473.653,"body":"recognition"},{"startTime":2473.653,"endTime":2478.21,"body":"that"},{"startTime":2478.21,"endTime":2482.767,"body":"you"},{"startTime":2482.767,"endTime":2487.324,"body":"might"},{"startTime":2487.324,"endTime":2491.881,"body":"not"},{"startTime":2491.881,"endTime":2496.438,"body":"have"},{"startTime":2496.438,"endTime":2500.995,"body":"the"},{"startTime":2500.995,"endTime":2505.552,"body":"best"},{"startTime":2505.552,"endTime":2510.109,"body":"defensiveness"},{"startTime":2510.109,"endTime":2514.666,"body":"in"},{"startTime":2514.666,"endTime":2519.223,"body":"downright."},{"startTime":2519.223,"endTime":2523.78,"body":"So,"},{"startTime":2523.78,"endTime":2528.337,"body":"I"},{"startTime":2528.337,"endTime":2532.894,"body":"think"},{"startTime":2532.894,"endTime":2537.451,"body":"I'm"},{"startTime":2537.451,"endTime":2542.008,"body":"pausing"},{"startTime":2542.008,"endTime":2546.565,"body":"here"},{"startTime":2546.565,"endTime":2551.122,"body":"for"},{"startTime":2551.122,"endTime":2555.679,"body":"you"},{"startTime":2555.679,"endTime":2560.236,"body":"to"},{"startTime":2560.236,"endTime":2564.793,"body":"reflect,"},{"startTime":2564.793,"endTime":2569.35,"body":"but"},{"startTime":2569.35,"endTime":2573.907,"body":"this"},{"startTime":2573.907,"endTime":2578.464,"body":"is"},{"startTime":2578.464,"endTime":2583.021,"body":"how"},{"startTime":2583.021,"endTime":2587.578,"body":"I"},{"startTime":2587.578,"endTime":2592.135,"body":"think"},{"startTime":2592.135,"endTime":2596.692,"body":"about"},{"startTime":2596.692,"endTime":2601.249,"body":"it."},{"startTime":2601.281,"endTime":2601.766,"body":"Well,"},{"startTime":2601.766,"endTime":2602.251,"body":"I"},{"startTime":2602.251,"endTime":2602.736,"body":"mean,"},{"startTime":2602.736,"endTime":2603.221,"body":"I"},{"startTime":2603.221,"endTime":2603.706,"body":"just"},{"startTime":2603.706,"endTime":2604.191,"body":"wanted"},{"startTime":2604.191,"endTime":2604.676,"body":"to"},{"startTime":2604.676,"endTime":2605.161,"body":"ask"},{"startTime":2605.161,"endTime":2605.646,"body":"your"},{"startTime":2605.646,"endTime":2606.131,"body":"opinion"},{"startTime":2606.131,"endTime":2606.616,"body":"as"},{"startTime":2606.616,"endTime":2607.101,"body":"well,"},{"startTime":2607.101,"endTime":2607.586,"body":"it's"},{"startTime":2607.586,"endTime":2608.071,"body":"a"},{"startTime":2608.071,"endTime":2608.556,"body":"leading"},{"startTime":2608.556,"endTime":2609.041,"body":"question"},{"startTime":2609.041,"endTime":2609.526,"body":"here,"},{"startTime":2609.526,"endTime":2610.011,"body":"would"},{"startTime":2610.011,"endTime":2610.496,"body":"you"},{"startTime":2610.496,"endTime":2610.981,"body":"agree"},{"startTime":2610.981,"endTime":2611.466,"body":"that,"},{"startTime":2611.466,"endTime":2611.951,"body":"actually,"},{"startTime":2611.951,"endTime":2612.436,"body":"that's"},{"startTime":2612.436,"endTime":2612.921,"body":"exactly"},{"startTime":2612.921,"endTime":2613.406,"body":"what"},{"startTime":2613.406,"endTime":2613.891,"body":"I"},{"startTime":2613.891,"endTime":2614.376,"body":"think"},{"startTime":2614.376,"endTime":2614.861,"body":"this"},{"startTime":2614.861,"endTime":2615.346,"body":"discussion"},{"startTime":2615.346,"endTime":2615.831,"body":"brings"},{"startTime":2615.831,"endTime":2616.316,"body":"because"},{"startTime":2616.316,"endTime":2616.801,"body":"previously"},{"startTime":2616.801,"endTime":2617.286,"body":"I've"},{"startTime":2617.286,"endTime":2617.771,"body":"always"},{"startTime":2617.771,"endTime":2618.256,"body":"felt"},{"startTime":2618.256,"endTime":2618.741,"body":"that"},{"startTime":2618.741,"endTime":2619.226,"body":"the"},{"startTime":2619.226,"endTime":2619.711,"body":"crisis"},{"startTime":2619.711,"endTime":2620.196,"body":"element,"},{"startTime":2620.196,"endTime":2620.681,"body":"protection"},{"startTime":2620.681,"endTime":2621.166,"body":"element,"},{"startTime":2621.166,"endTime":2621.651,"body":"was"},{"startTime":2621.651,"endTime":2622.136,"body":"really"},{"startTime":2622.136,"endTime":2622.621,"body":"always"},{"startTime":2622.621,"endTime":2623.106,"body":"a"},{"startTime":2623.106,"endTime":2623.591,"body":"discussion"},{"startTime":2623.591,"endTime":2624.076,"body":"that"},{"startTime":2624.076,"endTime":2624.561,"body":"related"},{"startTime":2624.561,"endTime":2625.046,"body":"back"},{"startTime":2625.046,"endTime":2625.531,"body":"to"},{"startTime":2625.531,"endTime":2626.016,"body":"speed."},{"startTime":2626.851,"endTime":2627.155,"body":"Yeah,"},{"startTime":2627.155,"endTime":2627.459,"body":"100%"},{"startTime":2627.459,"endTime":2627.763,"body":"and"},{"startTime":2627.763,"endTime":2628.067,"body":"I"},{"startTime":2628.067,"endTime":2628.371,"body":"plead"},{"startTime":2628.371,"endTime":2628.675,"body":"guilty"},{"startTime":2628.675,"endTime":2628.979,"body":"that"},{"startTime":2628.979,"endTime":2629.283,"body":"I"},{"startTime":2629.283,"endTime":2629.587,"body":"was"},{"startTime":2629.587,"endTime":2629.891,"body":"always"},{"startTime":2629.891,"endTime":2630.195,"body":"going"},{"startTime":2630.195,"endTime":2630.499,"body":"back"},{"startTime":2630.499,"endTime":2630.803,"body":"to"},{"startTime":2630.803,"endTime":2631.107,"body":"the"},{"startTime":2631.107,"endTime":2631.411,"body":"speed"},{"startTime":2631.411,"endTime":2631.715,"body":"discussion."},{"startTime":2631.715,"endTime":2632.019,"body":"Or"},{"startTime":2632.019,"endTime":2632.323,"body":"maybe"},{"startTime":2632.323,"endTime":2632.627,"body":"the"},{"startTime":2632.627,"endTime":2632.931,"body":"amount"},{"startTime":2632.931,"endTime":2633.235,"body":"of"},{"startTime":2633.235,"endTime":2633.539,"body":"controlling"},{"startTime":2633.539,"endTime":2633.843,"body":"of"},{"startTime":2633.843,"endTime":2634.147,"body":"your"},{"startTime":2634.147,"endTime":2634.451,"body":"equity"},{"startTime":2634.451,"endTime":2634.755,"body":"risk,"},{"startTime":2634.755,"endTime":2635.059,"body":"you"},{"startTime":2635.059,"endTime":2635.363,"body":"can"},{"startTime":2635.363,"endTime":2635.667,"body":"do"},{"startTime":2635.667,"endTime":2635.971,"body":"it"},{"startTime":2635.971,"endTime":2636.275,"body":"with"},{"startTime":2636.275,"endTime":2636.579,"body":"data,"},{"startTime":2636.579,"endTime":2636.883,"body":"or"},{"startTime":2636.883,"endTime":2637.187,"body":"maybe"},{"startTime":2637.187,"endTime":2637.491,"body":"some"},{"startTime":2637.491,"endTime":2637.795,"body":"force"},{"startTime":2637.795,"endTime":2638.099,"body":"constraint"},{"startTime":2638.099,"endTime":2638.403,"body":"exposures,"},{"startTime":2638.403,"endTime":2638.707,"body":"or"},{"startTime":2638.707,"endTime":2639.011,"body":"all"},{"startTime":2639.011,"endTime":2639.315,"body":"that."},{"startTime":2639.315,"endTime":2639.619,"body":"Somehow,"},{"startTime":2639.619,"endTime":2639.923,"body":"I"},{"startTime":2639.923,"endTime":2640.227,"body":"don't"},{"startTime":2640.227,"endTime":2640.531,"body":"think"},{"startTime":2640.531,"endTime":2640.835,"body":"it"},{"startTime":2640.835,"endTime":2641.139,"body":"was"},{"startTime":2641.139,"endTime":2641.443,"body":"very"},{"startTime":2641.443,"endTime":2641.747,"body":"natural"},{"startTime":2641.747,"endTime":2642.051,"body":"to"},{"startTime":2642.051,"endTime":2642.355,"body":"think"},{"startTime":2642.355,"endTime":2642.659,"body":"of"},{"startTime":2642.659,"endTime":2642.963,"body":"the"},{"startTime":2642.963,"endTime":2643.267,"body":"markets"},{"startTime":2643.267,"endTime":2643.571,"body":"as"},{"startTime":2643.571,"endTime":2643.875,"body":"directly"},{"startTime":2643.875,"endTime":2644.179,"body":"as"},{"startTime":2644.179,"endTime":2644.483,"body":"this"},{"startTime":2644.483,"endTime":2644.787,"body":"one"},{"startTime":2644.787,"endTime":2645.091,"body":"says."},{"startTime":2645.091,"endTime":2645.395,"body":"I"},{"startTime":2645.395,"endTime":2645.699,"body":"mean,"},{"startTime":2645.699,"endTime":2646.003,"body":"yeah,"},{"startTime":2646.003,"endTime":2646.307,"body":"we"},{"startTime":2646.307,"endTime":2646.611,"body":"could"},{"startTime":2646.611,"endTime":2646.915,"body":"control"},{"startTime":2646.915,"endTime":2647.219,"body":"equity"},{"startTime":2647.219,"endTime":2647.523,"body":"risk,"},{"startTime":2647.523,"endTime":2647.827,"body":"maybe"},{"startTime":2647.827,"endTime":2648.131,"body":"we"},{"startTime":2648.131,"endTime":2648.435,"body":"kind"},{"startTime":2648.435,"endTime":2648.739,"body":"of"},{"startTime":2648.739,"endTime":2649.043,"body":"thought"},{"startTime":2649.043,"endTime":2649.347,"body":"about"},{"startTime":2649.347,"endTime":2649.651,"body":"it,"},{"startTime":2649.651,"endTime":2649.955,"body":"but"},{"startTime":2649.955,"endTime":2650.259,"body":"not"},{"startTime":2650.259,"endTime":2650.563,"body":"to"},{"startTime":2650.563,"endTime":2650.867,"body":"that"},{"startTime":2650.867,"endTime":2651.171,"body":"extent."},{"startTime":2651.171,"endTime":2651.475,"body":"So,"},{"startTime":2651.475,"endTime":2651.779,"body":"I"},{"startTime":2651.779,"endTime":2652.083,"body":"think"},{"startTime":2652.083,"endTime":2652.387,"body":"it's"},{"startTime":2652.387,"endTime":2652.691,"body":"interesting,"},{"startTime":2652.691,"endTime":2652.995,"body":"to"},{"startTime":2652.995,"endTime":2653.299,"body":"your"},{"startTime":2653.299,"endTime":2653.603,"body":"point."},{"startTime":2653.603,"endTime":2653.907,"body":"I"},{"startTime":2653.907,"endTime":2654.211,"body":"think"},{"startTime":2654.211,"endTime":2654.515,"body":"it"},{"startTime":2654.515,"endTime":2654.819,"body":"kind"},{"startTime":2654.819,"endTime":2655.123,"body":"of"},{"startTime":2655.123,"endTime":2655.427,"body":"shifts"},{"startTime":2655.427,"endTime":2655.731,"body":"a"},{"startTime":2655.731,"endTime":2656.035,"body":"bit"},{"startTime":2656.035,"endTime":2656.339,"body":"the"},{"startTime":2656.339,"endTime":2656.643,"body":"discussion,"},{"startTime":2656.643,"endTime":2656.947,"body":"completely."},{"startTime":2657.091,"endTime":2657.491,"body":"Keep"},{"startTime":2657.811,"endTime":2658.131,"body":" going"},{"startTime":2659.731,"endTime":2676.549,"body":"Look,"},{"startTime":2676.549,"endTime":2693.367,"body":"I"},{"startTime":2693.367,"endTime":2710.185,"body":"mean,"},{"startTime":2710.185,"endTime":2727.003,"body":"that's"},{"startTime":2727.003,"endTime":2743.821,"body":"pretty"},{"startTime":2743.821,"endTime":2760.639,"body":"much"},{"startTime":2760.639,"endTime":2777.457,"body":"it."},{"startTime":2659.731,"endTime":2777.461,"body":"\r"},{"startTime":2659.731,"endTime":2668.14,"body":"Ithinkthey"},{"startTime":2668.14,"endTime":2670.943,"body":"have"},{"startTime":2670.943,"endTime":2673.746,"body":"another"},{"startTime":2673.746,"endTime":2676.549,"body":"interesting"},{"startTime":2676.549,"endTime":2679.352,"body":"kind"},{"startTime":2679.352,"endTime":2682.155,"body":"of,"},{"startTime":2682.155,"endTime":2684.958,"body":"I"},{"startTime":2684.958,"endTime":2687.761,"body":"guess,"},{"startTime":2687.761,"endTime":2690.564,"body":"path"},{"startTime":2690.564,"endTime":2693.367,"body":"that"},{"startTime":2693.367,"endTime":2696.17,"body":"they"},{"startTime":2696.17,"endTime":2698.973,"body":"follow,"},{"startTime":2698.973,"endTime":2701.776,"body":"which"},{"startTime":2701.776,"endTime":2704.579,"body":"is"},{"startTime":2704.579,"endTime":2707.382,"body":"in"},{"startTime":2707.382,"endTime":2710.185,"body":"addition"},{"startTime":2710.185,"endTime":2712.988,"body":"to"},{"startTime":2712.988,"endTime":2715.791,"body":"the"},{"startTime":2715.791,"endTime":2718.594,"body":"maximum"},{"startTime":2718.594,"endTime":2721.397,"body":"Sharpe"},{"startTime":2721.397,"endTime":2724.2,"body":"ratio"},{"startTime":2724.2,"endTime":2727.003,"body":"and"},{"startTime":2727.003,"endTime":2729.806,"body":"the"},{"startTime":2729.806,"endTime":2732.609,"body":"maximum"},{"startTime":2732.609,"endTime":2735.412,"body":"crisis"},{"startTime":2735.412,"endTime":2738.215,"body":"alpha"},{"startTime":2738.215,"endTime":2741.018,"body":"portfolio,"},{"startTime":2741.018,"endTime":2743.821,"body":"looking"},{"startTime":2743.821,"endTime":2746.624,"body":"into"},{"startTime":2746.624,"endTime":2749.427,"body":"also"},{"startTime":2749.427,"endTime":2752.23,"body":"cash"},{"startTime":2752.23,"endTime":2755.033,"body":"efficiency"},{"startTime":2755.033,"endTime":2757.836,"body":"and"},{"startTime":2757.836,"endTime":2760.639,"body":"obviously"},{"startTime":2760.639,"endTime":2763.442,"body":"the"},{"startTime":2763.442,"endTime":2766.245,"body":"fact"},{"startTime":2766.245,"endTime":2769.048,"body":"that"},{"startTime":2769.048,"endTime":2771.851,"body":"we"},{"startTime":2771.851,"endTime":2774.654,"body":"trade"},{"startTime":2774.654,"endTime":2777.457,"body":"futures."},{"startTime":2659.731,"endTime":2663.143,"body":"\rYouknow,"},{"startTime":2663.143,"endTime":2664.849,"body":"futures"},{"startTime":2664.849,"endTime":2666.555,"body":"are"},{"startTime":2666.555,"endTime":2668.261,"body":"instruments"},{"startTime":2668.261,"endTime":2669.967,"body":"that"},{"startTime":2669.967,"endTime":2671.673,"body":"trade"},{"startTime":2671.673,"endTime":2673.379,"body":"on"},{"startTime":2673.379,"endTime":2675.085,"body":"margin."},{"startTime":2675.085,"endTime":2676.791,"body":"So,"},{"startTime":2676.791,"endTime":2678.497,"body":"you"},{"startTime":2678.497,"endTime":2680.203,"body":"don't"},{"startTime":2680.203,"endTime":2681.909,"body":"have"},{"startTime":2681.909,"endTime":2683.615,"body":"to"},{"startTime":2683.615,"endTime":2685.321,"body":"spend,"},{"startTime":2685.321,"endTime":2687.027,"body":"you"},{"startTime":2687.027,"endTime":2688.733,"body":"know,"},{"startTime":2688.733,"endTime":2690.439,"body":"US$100"},{"startTime":2690.439,"endTime":2692.145,"body":"for"},{"startTime":2692.145,"endTime":2693.851,"body":"US$100"},{"startTime":2693.851,"endTime":2695.557,"body":"notional"},{"startTime":2695.557,"endTime":2697.263,"body":"exposure,"},{"startTime":2697.263,"endTime":2698.969,"body":"you"},{"startTime":2698.969,"endTime":2700.675,"body":"just"},{"startTime":2700.675,"endTime":2702.381,"body":"pay"},{"startTime":2702.381,"endTime":2704.087,"body":"a"},{"startTime":2704.087,"endTime":2705.793,"body":"fraction"},{"startTime":2705.793,"endTime":2707.499,"body":"of"},{"startTime":2707.499,"endTime":2709.205,"body":"it,"},{"startTime":2709.205,"endTime":2710.911,"body":"which"},{"startTime":2710.911,"endTime":2712.617,"body":"is"},{"startTime":2712.617,"endTime":2714.323,"body":"determined"},{"startTime":2714.323,"endTime":2716.029,"body":"by"},{"startTime":2716.029,"endTime":2717.735,"body":"the"},{"startTime":2717.735,"endTime":2719.441,"body":"exchange."},{"startTime":2719.441,"endTime":2721.147,"body":"So,"},{"startTime":2721.147,"endTime":2722.853,"body":"the"},{"startTime":2722.853,"endTime":2724.559,"body":"question"},{"startTime":2724.559,"endTime":2726.265,"body":"then"},{"startTime":2726.265,"endTime":2727.971,"body":"becomes,"},{"startTime":2727.971,"endTime":2729.677,"body":"obviously,"},{"startTime":2729.677,"endTime":2731.383,"body":"how"},{"startTime":2731.383,"endTime":2733.089,"body":"is"},{"startTime":2733.089,"endTime":2734.795,"body":"that"},{"startTime":2734.795,"endTime":2736.501,"body":"margin"},{"startTime":2736.501,"endTime":2738.207,"body":"determined?"},{"startTime":2738.207,"endTime":2739.913,"body":"And"},{"startTime":2739.913,"endTime":2741.619,"body":"that"},{"startTime":2741.619,"endTime":2743.325,"body":"margin"},{"startTime":2743.325,"endTime":2745.031,"body":"should"},{"startTime":2745.031,"endTime":2746.737,"body":"be"},{"startTime":2746.737,"endTime":2748.443,"body":"financed"},{"startTime":2748.443,"endTime":2750.149,"body":"from"},{"startTime":2750.149,"endTime":2751.855,"body":"actual"},{"startTime":2751.855,"endTime":2753.561,"body":"dollars."},{"startTime":2753.561,"endTime":2755.267,"body":"So,"},{"startTime":2755.267,"endTime":2756.973,"body":"the"},{"startTime":2756.973,"endTime":2758.679,"body":"lower"},{"startTime":2758.679,"endTime":2760.385,"body":"that"},{"startTime":2760.385,"endTime":2762.091,"body":"margin"},{"startTime":2762.091,"endTime":2763.797,"body":"is,"},{"startTime":2763.797,"endTime":2765.503,"body":"the"},{"startTime":2765.503,"endTime":2767.209,"body":"more"},{"startTime":2767.209,"endTime":2768.915,"body":"capital"},{"startTime":2768.915,"endTime":2770.621,"body":"efficient"},{"startTime":2770.621,"endTime":2772.327,"body":"the"},{"startTime":2772.327,"endTime":2774.033,"body":"portfolio"},{"startTime":2774.033,"endTime":2775.739,"body":"can"},{"startTime":2775.739,"endTime":2777.445,"body":"be."},{"startTime":2659.731,"endTime":2662.467,"body":"\rSo,they"},{"startTime":2662.467,"endTime":2663.835,"body":"make"},{"startTime":2663.835,"endTime":2665.203,"body":"a"},{"startTime":2665.203,"endTime":2666.571,"body":"supposition"},{"startTime":2666.571,"endTime":2667.939,"body":"here"},{"startTime":2667.939,"endTime":2669.307,"body":"that"},{"startTime":2669.307,"endTime":2670.675,"body":"a"},{"startTime":2670.675,"endTime":2672.043,"body":"portfolio"},{"startTime":2672.043,"endTime":2673.411,"body":"that"},{"startTime":2673.411,"endTime":2674.779,"body":"is"},{"startTime":2674.779,"endTime":2676.147,"body":"more"},{"startTime":2676.147,"endTime":2677.515,"body":"cost"},{"startTime":2677.515,"endTime":2678.883,"body":"efficient,"},{"startTime":2678.883,"endTime":2680.251,"body":"and"},{"startTime":2680.251,"endTime":2681.619,"body":"therefore"},{"startTime":2681.619,"endTime":2682.987,"body":"you"},{"startTime":2682.987,"endTime":2684.355,"body":"can"},{"startTime":2684.355,"endTime":2685.723,"body":"get"},{"startTime":2685.723,"endTime":2687.091,"body":"higher"},{"startTime":2687.091,"endTime":2688.459,"body":"level"},{"startTime":2688.459,"endTime":2689.827,"body":"of"},{"startTime":2689.827,"endTime":2691.195,"body":"volatility"},{"startTime":2691.195,"endTime":2692.563,"body":"for"},{"startTime":2692.563,"endTime":2693.931,"body":"the"},{"startTime":2693.931,"endTime":2695.299,"body":"same"},{"startTime":2695.299,"endTime":2696.667,"body":"dollar"},{"startTime":2696.667,"endTime":2698.035,"body":"value"},{"startTime":2698.035,"endTime":2699.403,"body":"of"},{"startTime":2699.403,"endTime":2700.771,"body":"notional,"},{"startTime":2700.771,"endTime":2702.139,"body":"sorry,"},{"startTime":2702.139,"endTime":2703.507,"body":"of"},{"startTime":2703.507,"endTime":2704.875,"body":"margin,"},{"startTime":2704.875,"endTime":2706.243,"body":"is"},{"startTime":2706.243,"endTime":2707.611,"body":"a"},{"startTime":2707.611,"endTime":2708.979,"body":"portfolio"},{"startTime":2708.979,"endTime":2710.347,"body":"that"},{"startTime":2710.347,"endTime":2711.715,"body":"most"},{"startTime":2711.715,"endTime":2713.083,"body":"likely"},{"startTime":2713.083,"endTime":2714.451,"body":"would"},{"startTime":2714.451,"endTime":2715.819,"body":"have"},{"startTime":2715.819,"endTime":2717.187,"body":"liquid"},{"startTime":2717.187,"endTime":2718.555,"body":"markets"},{"startTime":2718.555,"endTime":2719.923,"body":"because"},{"startTime":2719.923,"endTime":2721.291,"body":"that's"},{"startTime":2721.291,"endTime":2722.659,"body":"a"},{"startTime":2722.659,"endTime":2724.027,"body":"component"},{"startTime":2724.027,"endTime":2725.395,"body":"of"},{"startTime":2725.395,"endTime":2726.763,"body":"the"},{"startTime":2726.763,"endTime":2728.131,"body":"margin"},{"startTime":2728.131,"endTime":2729.499,"body":"determination."},{"startTime":2729.499,"endTime":2730.867,"body":"Now"},{"startTime":2730.867,"endTime":2732.235,"body":"that,"},{"startTime":2732.235,"endTime":2733.603,"body":"in"},{"startTime":2733.603,"endTime":2734.971,"body":"itself,"},{"startTime":2734.971,"endTime":2736.339,"body":"brings"},{"startTime":2736.339,"endTime":2737.707,"body":"you"},{"startTime":2737.707,"endTime":2739.075,"body":"to"},{"startTime":2739.075,"endTime":2740.443,"body":"a"},{"startTime":2740.443,"endTime":2741.811,"body":"universe"},{"startTime":2741.811,"endTime":2743.179,"body":"that"},{"startTime":2743.179,"endTime":2744.547,"body":"is"},{"startTime":2744.547,"endTime":2745.915,"body":"more"},{"startTime":2745.915,"endTime":2747.283,"body":"of"},{"startTime":2747.283,"endTime":2748.651,"body":"a"},{"startTime":2748.651,"endTime":2750.019,"body":"core"},{"startTime":2750.019,"endTime":2751.387,"body":"universe."},{"startTime":2751.387,"endTime":2752.755,"body":"So,"},{"startTime":2752.755,"endTime":2754.123,"body":"it's"},{"startTime":2754.123,"endTime":2755.491,"body":"not"},{"startTime":2755.491,"endTime":2756.859,"body":"a"},{"startTime":2756.859,"endTime":2758.227,"body":"surprise"},{"startTime":2758.227,"endTime":2759.595,"body":"that"},{"startTime":2759.595,"endTime":2760.963,"body":"the"},{"startTime":2760.963,"endTime":2762.331,"body":"cash"},{"startTime":2762.331,"endTime":2763.699,"body":"efficient"},{"startTime":2763.699,"endTime":2765.067,"body":"portfolio,"},{"startTime":2765.067,"endTime":2766.435,"body":"from"},{"startTime":2766.435,"endTime":2767.803,"body":"that"},{"startTime":2767.803,"endTime":2769.171,"body":"perspective,"},{"startTime":2769.171,"endTime":2770.539,"body":"resembles"},{"startTime":2770.539,"endTime":2771.907,"body":"the"},{"startTime":2771.907,"endTime":2773.275,"body":"maximum"},{"startTime":2773.275,"endTime":2774.643,"body":"crisis"},{"startTime":2774.643,"endTime":2776.011,"body":"alpha"},{"startTime":2776.011,"endTime":2777.379,"body":"portfolio."},{"startTime":2659.731,"endTime":2664.739,"body":"\rWhy?Because"},{"startTime":2664.739,"endTime":2667.243,"body":"then"},{"startTime":2667.243,"endTime":2669.747,"body":"too,"},{"startTime":2669.747,"endTime":2672.251,"body":"for"},{"startTime":2672.251,"endTime":2674.755,"body":"different"},{"startTime":2674.755,"endTime":2677.259,"body":"reasons,"},{"startTime":2677.259,"endTime":2679.763,"body":"one"},{"startTime":2679.763,"endTime":2682.267,"body":"to"},{"startTime":2682.267,"endTime":2684.771,"body":"capture"},{"startTime":2684.771,"endTime":2687.275,"body":"the"},{"startTime":2687.275,"endTime":2689.779,"body":"macro"},{"startTime":2689.779,"endTime":2692.283,"body":"moves,"},{"startTime":2692.283,"endTime":2694.787,"body":"one"},{"startTime":2694.787,"endTime":2697.291,"body":"to"},{"startTime":2697.291,"endTime":2699.795,"body":"capture"},{"startTime":2699.795,"endTime":2702.299,"body":"the"},{"startTime":2702.299,"endTime":2704.803,"body":"more"},{"startTime":2704.803,"endTime":2707.307,"body":"liquid"},{"startTime":2707.307,"endTime":2709.811,"body":"assets,"},{"startTime":2709.811,"endTime":2712.315,"body":"ends"},{"startTime":2712.315,"endTime":2714.819,"body":"up"},{"startTime":2714.819,"endTime":2717.323,"body":"allocating"},{"startTime":2717.323,"endTime":2719.827,"body":"to"},{"startTime":2719.827,"endTime":2722.331,"body":"the"},{"startTime":2722.331,"endTime":2724.835,"body":"same"},{"startTime":2724.835,"endTime":2727.339,"body":"ecosystem"},{"startTime":2727.339,"endTime":2729.843,"body":"of,"},{"startTime":2729.843,"endTime":2732.347,"body":"if"},{"startTime":2732.347,"endTime":2734.851,"body":"you"},{"startTime":2734.851,"endTime":2737.355,"body":"like,"},{"startTime":2737.355,"endTime":2739.859,"body":"assets."},{"startTime":2739.859,"endTime":2742.363,"body":"Anyway,"},{"startTime":2742.363,"endTime":2744.867,"body":"for"},{"startTime":2744.867,"endTime":2747.371,"body":"me"},{"startTime":2747.371,"endTime":2749.875,"body":"that's"},{"startTime":2749.875,"endTime":2752.379,"body":"more"},{"startTime":2752.379,"endTime":2754.883,"body":"of"},{"startTime":2754.883,"endTime":2757.387,"body":"a"},{"startTime":2757.387,"endTime":2759.891,"body":"byproduct"},{"startTime":2759.891,"endTime":2762.395,"body":"of"},{"startTime":2762.395,"endTime":2764.899,"body":"the"},{"startTime":2764.899,"endTime":2767.403,"body":"discussion."},{"startTime":2767.403,"endTime":2769.907,"body":"Very"},{"startTime":2769.907,"endTime":2772.411,"body":"nice"},{"startTime":2772.411,"endTime":2774.915,"body":"to"},{"startTime":2774.915,"endTime":2777.419,"body":"see."},{"startTime":2659.731,"endTime":2664.535,"body":"\rIt’salmost,"},{"startTime":2664.535,"endTime":2666.937,"body":"if"},{"startTime":2666.937,"endTime":2669.339,"body":"I"},{"startTime":2669.339,"endTime":2671.741,"body":"were"},{"startTime":2671.741,"endTime":2674.143,"body":"to"},{"startTime":2674.143,"endTime":2676.545,"body":"kind"},{"startTime":2676.545,"endTime":2678.947,"body":"of"},{"startTime":2678.947,"endTime":2681.349,"body":"reverse"},{"startTime":2681.349,"endTime":2683.751,"body":"the"},{"startTime":2683.751,"endTime":2686.153,"body":"argument,"},{"startTime":2686.153,"endTime":2688.555,"body":"if"},{"startTime":2688.555,"endTime":2690.957,"body":"you"},{"startTime":2690.957,"endTime":2693.359,"body":"were"},{"startTime":2693.359,"endTime":2695.761,"body":"to"},{"startTime":2695.761,"endTime":2698.163,"body":"have"},{"startTime":2698.163,"endTime":2700.565,"body":"the"},{"startTime":2700.565,"endTime":2702.967,"body":"maximum"},{"startTime":2702.967,"endTime":2705.369,"body":"crisis"},{"startTime":2705.369,"endTime":2707.771,"body":"Sharpe"},{"startTime":2707.771,"endTime":2710.173,"body":"portfolio,"},{"startTime":2710.173,"endTime":2712.575,"body":"it"},{"startTime":2712.575,"endTime":2714.977,"body":"is"},{"startTime":2714.977,"endTime":2717.379,"body":"more"},{"startTime":2717.379,"endTime":2719.781,"body":"likely"},{"startTime":2719.781,"endTime":2722.183,"body":"that"},{"startTime":2722.183,"endTime":2724.585,"body":"your"},{"startTime":2724.585,"endTime":2726.987,"body":"margin"},{"startTime":2726.987,"endTime":2729.389,"body":"requirement"},{"startTime":2729.389,"endTime":2731.791,"body":"will"},{"startTime":2731.791,"endTime":2734.193,"body":"be"},{"startTime":2734.193,"endTime":2736.595,"body":"lower."},{"startTime":2736.595,"endTime":2738.997,"body":"But"},{"startTime":2738.997,"endTime":2741.399,"body":"yeah,"},{"startTime":2741.399,"endTime":2743.801,"body":"to"},{"startTime":2743.801,"endTime":2746.203,"body":"me"},{"startTime":2746.203,"endTime":2748.605,"body":"the"},{"startTime":2748.605,"endTime":2751.007,"body":"biggest"},{"startTime":2751.007,"endTime":2753.409,"body":"point"},{"startTime":2753.409,"endTime":2755.811,"body":"is"},{"startTime":2755.811,"endTime":2758.213,"body":"really"},{"startTime":2758.213,"endTime":2760.615,"body":"the"},{"startTime":2760.615,"endTime":2763.017,"body":"association"},{"startTime":2763.017,"endTime":2765.419,"body":"of"},{"startTime":2765.419,"endTime":2767.821,"body":"the"},{"startTime":2767.821,"endTime":2770.223,"body":"objective"},{"startTime":2770.223,"endTime":2772.625,"body":"to"},{"startTime":2772.625,"endTime":2775.027,"body":"the"},{"startTime":2775.027,"endTime":2777.429,"body":"universe."},{"startTime":2778.901,"endTime":2779.241,"body":"Another"},{"startTime":2779.241,"endTime":2779.581,"body":"stat"},{"startTime":2779.581,"endTime":2779.921,"body":"from"},{"startTime":2779.921,"endTime":2780.261,"body":"the"},{"startTime":2780.261,"endTime":2780.601,"body":"paper,"},{"startTime":2780.601,"endTime":2780.941,"body":"that"},{"startTime":2780.941,"endTime":2781.281,"body":"I"},{"startTime":2781.281,"endTime":2781.621,"body":"thought"},{"startTime":2781.621,"endTime":2781.961,"body":"was"},{"startTime":2781.961,"endTime":2782.301,"body":"kind"},{"startTime":2782.301,"endTime":2782.641,"body":"of"},{"startTime":2782.641,"endTime":2782.981,"body":"interesting,"},{"startTime":2782.981,"endTime":2783.321,"body":"was"},{"startTime":2783.321,"endTime":2783.661,"body":"they"},{"startTime":2783.661,"endTime":2784.001,"body":"managed"},{"startTime":2784.001,"endTime":2784.341,"body":"to"},{"startTime":2784.341,"endTime":2784.681,"body":"say"},{"startTime":2784.681,"endTime":2785.021,"body":"that"},{"startTime":2785.021,"endTime":2785.361,"body":"there"},{"startTime":2785.361,"endTime":2785.701,"body":"are"},{"startTime":2785.701,"endTime":2786.041,"body":"approximately"},{"startTime":2786.041,"endTime":2786.381,"body":"900"},{"startTime":2786.381,"endTime":2786.721,"body":"different"},{"startTime":2786.721,"endTime":2787.061,"body":"markets"},{"startTime":2787.061,"endTime":2787.401,"body":"we"},{"startTime":2787.401,"endTime":2787.741,"body":"could"},{"startTime":2787.741,"endTime":2788.081,"body":"trade."},{"startTime":2788.081,"endTime":2788.421,"body":"That"},{"startTime":2788.421,"endTime":2788.761,"body":"surprised"},{"startTime":2788.761,"endTime":2789.101,"body":"me"},{"startTime":2789.101,"endTime":2789.441,"body":"that"},{"startTime":2789.441,"endTime":2789.781,"body":"they"},{"startTime":2789.781,"endTime":2790.121,"body":"could"},{"startTime":2790.121,"endTime":2790.461,"body":"find"},{"startTime":2790.461,"endTime":2790.801,"body":"so"},{"startTime":2790.801,"endTime":2791.141,"body":"many."},{"startTime":2793.781,"endTime":2794.891,"body":"This"},{"startTime":2794.891,"endTime":2796.001,"body":"is"},{"startTime":2796.001,"endTime":2797.111,"body":"very"},{"startTime":2797.111,"endTime":2798.221,"body":"true."},{"startTime":2798.221,"endTime":2799.331,"body":"The"},{"startTime":2799.331,"endTime":2800.441,"body":"one"},{"startTime":2800.441,"endTime":2801.551,"body":"thing"},{"startTime":2801.551,"endTime":2802.661,"body":"I"},{"startTime":2802.661,"endTime":2803.771,"body":"would"},{"startTime":2803.771,"endTime":2804.881,"body":"point"},{"startTime":2804.881,"endTime":2805.991,"body":"out"},{"startTime":2805.991,"endTime":2807.101,"body":"(you"},{"startTime":2807.101,"endTime":2808.211,"body":"remind"},{"startTime":2808.211,"endTime":2809.321,"body":"me"},{"startTime":2809.321,"endTime":2810.431,"body":"that"},{"startTime":2810.431,"endTime":2811.541,"body":"I"},{"startTime":2811.541,"endTime":2812.651,"body":"had"},{"startTime":2812.651,"endTime":2813.761,"body":"forgotten"},{"startTime":2813.761,"endTime":2814.871,"body":"about"},{"startTime":2814.871,"endTime":2815.981,"body":"this"},{"startTime":2815.981,"endTime":2817.091,"body":"one),"},{"startTime":2817.091,"endTime":2818.201,"body":"if"},{"startTime":2818.201,"endTime":2819.311,"body":"you"},{"startTime":2819.311,"endTime":2820.421,"body":"look"},{"startTime":2820.421,"endTime":2821.531,"body":"into"},{"startTime":2821.531,"endTime":2822.641,"body":"equity"},{"startTime":2822.641,"endTime":2823.751,"body":"styles,"},{"startTime":2823.751,"endTime":2824.861,"body":"so"},{"startTime":2824.861,"endTime":2825.971,"body":"they"},{"startTime":2825.971,"endTime":2827.081,"body":"use"},{"startTime":2827.081,"endTime":2828.191,"body":"equity"},{"startTime":2828.191,"endTime":2829.301,"body":"factors"},{"startTime":2829.301,"endTime":2830.411,"body":"and"},{"startTime":2830.411,"endTime":2831.521,"body":"they"},{"startTime":2831.521,"endTime":2832.631,"body":"have"},{"startTime":2832.631,"endTime":2833.741,"body":"60"},{"startTime":2833.741,"endTime":2834.851,"body":"markets"},{"startTime":2834.851,"endTime":2835.961,"body":"or"},{"startTime":2835.961,"endTime":2837.071,"body":"60"},{"startTime":2837.071,"endTime":2838.181,"body":"factors."},{"startTime":2838.181,"endTime":2839.291,"body":"I"},{"startTime":2839.291,"endTime":2840.401,"body":"mean,"},{"startTime":2840.401,"endTime":2841.511,"body":"I'm"},{"startTime":2841.511,"endTime":2842.621,"body":"sure"},{"startTime":2842.621,"endTime":2843.731,"body":"they"},{"startTime":2843.731,"endTime":2844.841,"body":"would"},{"startTime":2844.841,"endTime":2845.951,"body":"attest"},{"startTime":2845.951,"endTime":2847.061,"body":"to"},{"startTime":2847.061,"endTime":2848.171,"body":"it"},{"startTime":2848.171,"endTime":2849.281,"body":"(and"},{"startTime":2849.281,"endTime":2850.391,"body":"I"},{"startTime":2850.391,"endTime":2851.501,"body":"guess"},{"startTime":2851.501,"endTime":2852.611,"body":"you"},{"startTime":2852.611,"endTime":2853.721,"body":"can"},{"startTime":2853.721,"endTime":2854.831,"body":"ask"},{"startTime":2854.831,"endTime":2855.941,"body":"one"},{"startTime":2855.941,"endTime":2857.051,"body":"of"},{"startTime":2857.051,"endTime":2858.161,"body":"the"},{"startTime":2858.161,"endTime":2859.271,"body":"co-authors"},{"startTime":2859.271,"endTime":2860.381,"body":"when"},{"startTime":2860.381,"endTime":2861.491,"body":"he's"},{"startTime":2861.491,"endTime":2862.601,"body":"here),"},{"startTime":2862.601,"endTime":2863.711,"body":"there"},{"startTime":2863.711,"endTime":2864.821,"body":"are"},{"startTime":2864.821,"endTime":2865.931,"body":"no"},{"startTime":2865.931,"endTime":2867.041,"body":"60"},{"startTime":2867.041,"endTime":2868.151,"body":"factors"},{"startTime":2868.151,"endTime":2869.261,"body":"that"},{"startTime":2869.261,"endTime":2870.371,"body":"can"},{"startTime":2870.371,"endTime":2871.481,"body":"be"},{"startTime":2871.481,"endTime":2872.591,"body":"seen"},{"startTime":2872.591,"endTime":2873.701,"body":"as,"},{"startTime":2873.701,"endTime":2874.811,"body":"to"},{"startTime":2874.811,"endTime":2875.921,"body":"a"},{"startTime":2875.921,"endTime":2877.031,"body":"good"},{"startTime":2877.031,"endTime":2878.141,"body":"extent,"},{"startTime":2878.141,"endTime":2879.251,"body":"diversifying"},{"startTime":2879.251,"endTime":2880.361,"body":"in"},{"startTime":2880.361,"endTime":2881.471,"body":"the"},{"startTime":2881.471,"endTime":2882.581,"body":"equity"},{"startTime":2882.581,"endTime":2883.691,"body":"space."},{"startTime":2793.781,"endTime":2795.947,"body":"\rYouknow,"},{"startTime":2795.947,"endTime":2797.03,"body":"we"},{"startTime":2797.03,"endTime":2798.113,"body":"can"},{"startTime":2798.113,"endTime":2799.196,"body":"talk"},{"startTime":2799.196,"endTime":2800.279,"body":"about"},{"startTime":2800.279,"endTime":2801.362,"body":"earnings"},{"startTime":2801.362,"endTime":2802.445,"body":"to"},{"startTime":2802.445,"endTime":2803.528,"body":"price"},{"startTime":2803.528,"endTime":2804.611,"body":"and"},{"startTime":2804.611,"endTime":2805.694,"body":"book"},{"startTime":2805.694,"endTime":2806.777,"body":"to"},{"startTime":2806.777,"endTime":2807.86,"body":"price"},{"startTime":2807.86,"endTime":2808.943,"body":"as"},{"startTime":2808.943,"endTime":2810.026,"body":"valuation"},{"startTime":2810.026,"endTime":2811.109,"body":"ratios."},{"startTime":2811.109,"endTime":2812.192,"body":"We"},{"startTime":2812.192,"endTime":2813.275,"body":"can"},{"startTime":2813.275,"endTime":2814.358,"body":"think"},{"startTime":2814.358,"endTime":2815.441,"body":"of"},{"startTime":2815.441,"endTime":2816.524,"body":"those"},{"startTime":2816.524,"endTime":2817.607,"body":"as"},{"startTime":2817.607,"endTime":2818.69,"body":"two"},{"startTime":2818.69,"endTime":2819.773,"body":"factors."},{"startTime":2819.773,"endTime":2820.856,"body":"But"},{"startTime":2820.856,"endTime":2821.939,"body":"technically"},{"startTime":2821.939,"endTime":2823.022,"body":"the"},{"startTime":2823.022,"endTime":2824.105,"body":"amount"},{"startTime":2824.105,"endTime":2825.188,"body":"of"},{"startTime":2825.188,"endTime":2826.271,"body":"cross-sectional"},{"startTime":2826.271,"endTime":2827.354,"body":"correlation"},{"startTime":2827.354,"endTime":2828.437,"body":"is"},{"startTime":2828.437,"endTime":2829.52,"body":"very"},{"startTime":2829.52,"endTime":2830.603,"body":"high,"},{"startTime":2830.603,"endTime":2831.686,"body":"and"},{"startTime":2831.686,"endTime":2832.769,"body":"they"},{"startTime":2832.769,"endTime":2833.852,"body":"are"},{"startTime":2833.852,"endTime":2834.935,"body":"value"},{"startTime":2834.935,"endTime":2836.018,"body":"descriptors."},{"startTime":2836.018,"endTime":2837.101,"body":"So,"},{"startTime":2837.101,"endTime":2838.184,"body":"in"},{"startTime":2838.184,"endTime":2839.267,"body":"a"},{"startTime":2839.267,"endTime":2840.35,"body":"way,"},{"startTime":2840.35,"endTime":2841.433,"body":"60,"},{"startTime":2841.433,"endTime":2842.516,"body":"it's"},{"startTime":2842.516,"endTime":2843.599,"body":"almost"},{"startTime":2843.599,"endTime":2844.682,"body":"like"},{"startTime":2844.682,"endTime":2845.765,"body":"(at"},{"startTime":2845.765,"endTime":2846.848,"body":"least"},{"startTime":2846.848,"endTime":2847.931,"body":"that's"},{"startTime":2847.931,"endTime":2849.014,"body":"my"},{"startTime":2849.014,"endTime":2850.097,"body":"understanding"},{"startTime":2850.097,"endTime":2851.18,"body":"and"},{"startTime":2851.18,"endTime":2852.263,"body":"maybe"},{"startTime":2852.263,"endTime":2853.346,"body":"I'm"},{"startTime":2853.346,"endTime":2854.429,"body":"wrong),"},{"startTime":2854.429,"endTime":2855.512,"body":"60"},{"startTime":2855.512,"endTime":2856.595,"body":"here"},{"startTime":2856.595,"endTime":2857.678,"body":"is"},{"startTime":2857.678,"endTime":2858.761,"body":"almost"},{"startTime":2858.761,"endTime":2859.844,"body":"like"},{"startTime":2859.844,"endTime":2860.927,"body":"a"},{"startTime":2860.927,"endTime":2862.01,"body":"signal"},{"startTime":2862.01,"endTime":2863.093,"body":"by"},{"startTime":2863.093,"endTime":2864.176,"body":"signal"},{"startTime":2864.176,"endTime":2865.259,"body":"characterization"},{"startTime":2865.259,"endTime":2866.342,"body":"of"},{"startTime":2866.342,"endTime":2867.425,"body":"how"},{"startTime":2867.425,"endTime":2868.508,"body":"many"},{"startTime":2868.508,"endTime":2869.591,"body":"degrees"},{"startTime":2869.591,"endTime":2870.674,"body":"we"},{"startTime":2870.674,"endTime":2871.757,"body":"have"},{"startTime":2871.757,"endTime":2872.84,"body":"to"},{"startTime":2872.84,"endTime":2873.923,"body":"rank"},{"startTime":2873.923,"endTime":2875.006,"body":"single"},{"startTime":2875.006,"endTime":2876.089,"body":"stocks"},{"startTime":2876.089,"endTime":2877.172,"body":"by,"},{"startTime":2877.172,"endTime":2878.255,"body":"and"},{"startTime":2878.255,"endTime":2879.338,"body":"build"},{"startTime":2879.338,"endTime":2880.421,"body":"single"},{"startTime":2880.421,"endTime":2881.504,"body":"stock"},{"startTime":2881.504,"endTime":2882.587,"body":"equity"},{"startTime":2882.587,"endTime":2883.67,"body":"factors."},{"startTime":2793.781,"endTime":2798.513,"body":"\rButthat"},{"startTime":2798.513,"endTime":2800.879,"body":"is"},{"startTime":2800.879,"endTime":2803.245,"body":"slightly,"},{"startTime":2803.245,"endTime":2805.611,"body":"at"},{"startTime":2805.611,"endTime":2807.977,"body":"least"},{"startTime":2807.977,"endTime":2810.343,"body":"in"},{"startTime":2810.343,"endTime":2812.709,"body":"my"},{"startTime":2812.709,"endTime":2815.075,"body":"mind,"},{"startTime":2815.075,"endTime":2817.441,"body":"not"},{"startTime":2817.441,"endTime":2819.807,"body":"dissimilar"},{"startTime":2819.807,"endTime":2822.173,"body":"to"},{"startTime":2822.173,"endTime":2824.539,"body":"saying"},{"startTime":2824.539,"endTime":2826.905,"body":"I'm"},{"startTime":2826.905,"endTime":2829.271,"body":"going"},{"startTime":2829.271,"endTime":2831.637,"body":"to"},{"startTime":2831.637,"endTime":2834.003,"body":"have"},{"startTime":2834.003,"endTime":2836.369,"body":"60"},{"startTime":2836.369,"endTime":2838.735,"body":"commodities"},{"startTime":2838.735,"endTime":2841.101,"body":"because"},{"startTime":2841.101,"endTime":2843.467,"body":"I"},{"startTime":2843.467,"endTime":2845.833,"body":"think"},{"startTime":2845.833,"endTime":2848.199,"body":"in"},{"startTime":2848.199,"endTime":2850.565,"body":"the"},{"startTime":2850.565,"endTime":2852.931,"body":"equities"},{"startTime":2852.931,"endTime":2855.297,"body":"world,"},{"startTime":2855.297,"endTime":2857.663,"body":"maybe"},{"startTime":2857.663,"endTime":2860.029,"body":"five,"},{"startTime":2860.029,"endTime":2862.395,"body":"maybe"},{"startTime":2862.395,"endTime":2864.761,"body":"six"},{"startTime":2864.761,"endTime":2867.127,"body":"factors"},{"startTime":2867.127,"endTime":2869.493,"body":"probably"},{"startTime":2869.493,"endTime":2871.859,"body":"explain"},{"startTime":2871.859,"endTime":2874.225,"body":"the"},{"startTime":2874.225,"endTime":2876.591,"body":"cross"},{"startTime":2876.591,"endTime":2878.957,"body":"section"},{"startTime":2878.957,"endTime":2881.323,"body":"of"},{"startTime":2881.323,"endTime":2883.689,"body":"returns."},{"startTime":2793.781,"endTime":2797.377,"body":"\rSo,I"},{"startTime":2797.377,"endTime":2799.175,"body":"think"},{"startTime":2799.175,"endTime":2800.973,"body":"60"},{"startTime":2800.973,"endTime":2802.771,"body":"commodities"},{"startTime":2802.771,"endTime":2804.569,"body":"versus"},{"startTime":2804.569,"endTime":2806.367,"body":"60"},{"startTime":2806.367,"endTime":2808.165,"body":"descriptors"},{"startTime":2808.165,"endTime":2809.963,"body":"of"},{"startTime":2809.963,"endTime":2811.761,"body":"equity"},{"startTime":2811.761,"endTime":2813.559,"body":"returns"},{"startTime":2813.559,"endTime":2815.357,"body":"would"},{"startTime":2815.357,"endTime":2817.155,"body":"give"},{"startTime":2817.155,"endTime":2818.953,"body":"you"},{"startTime":2818.953,"endTime":2820.751,"body":"much"},{"startTime":2820.751,"endTime":2822.549,"body":"less"},{"startTime":2822.549,"endTime":2824.347,"body":"of"},{"startTime":2824.347,"endTime":2826.145,"body":"a"},{"startTime":2826.145,"endTime":2827.943,"body":"diversified"},{"startTime":2827.943,"endTime":2829.741,"body":"universe"},{"startTime":2829.741,"endTime":2831.539,"body":"in"},{"startTime":2831.539,"endTime":2833.337,"body":"the"},{"startTime":2833.337,"endTime":2835.135,"body":"equity"},{"startTime":2835.135,"endTime":2836.933,"body":"space"},{"startTime":2836.933,"endTime":2838.731,"body":"rather"},{"startTime":2838.731,"endTime":2840.529,"body":"than"},{"startTime":2840.529,"endTime":2842.327,"body":"in"},{"startTime":2842.327,"endTime":2844.125,"body":"the"},{"startTime":2844.125,"endTime":2845.923,"body":"commodity"},{"startTime":2845.923,"endTime":2847.721,"body":"space."},{"startTime":2847.721,"endTime":2849.519,"body":"But"},{"startTime":2849.519,"endTime":2851.317,"body":"setting"},{"startTime":2851.317,"endTime":2853.115,"body":"that"},{"startTime":2853.115,"endTime":2854.913,"body":"aside,"},{"startTime":2854.913,"endTime":2856.711,"body":"900"},{"startTime":2856.711,"endTime":2858.509,"body":"is"},{"startTime":2858.509,"endTime":2860.307,"body":"900."},{"startTime":2860.307,"endTime":2862.105,"body":"So"},{"startTime":2862.105,"endTime":2863.903,"body":"outside"},{"startTime":2863.903,"endTime":2865.701,"body":"of"},{"startTime":2865.701,"endTime":2867.499,"body":"that,"},{"startTime":2867.499,"endTime":2869.297,"body":"I"},{"startTime":2869.297,"endTime":2871.095,"body":"cannot"},{"startTime":2871.095,"endTime":2872.893,"body":"really"},{"startTime":2872.893,"endTime":2874.691,"body":"pose"},{"startTime":2874.691,"endTime":2876.489,"body":"significant"},{"startTime":2876.489,"endTime":2878.287,"body":"questioning"},{"startTime":2878.287,"endTime":2880.085,"body":"on"},{"startTime":2880.085,"endTime":2881.883,"body":"the"},{"startTime":2881.883,"endTime":2883.681,"body":"count."},{"startTime":2884.782,"endTime":2886.338,"body":"That's"},{"startTime":2886.338,"endTime":2887.894,"body":"fine."},{"startTime":2887.894,"endTime":2889.45,"body":"We'll"},{"startTime":2889.45,"endTime":2891.006,"body":"look"},{"startTime":2891.006,"endTime":2892.562,"body":"forward"},{"startTime":2892.562,"endTime":2894.118,"body":"to"},{"startTime":2893.047,"endTime":2895.674,"body":"having"},{"startTime":2895.674,"endTime":2897.23,"body":"one"},{"startTime":2897.23,"endTime":2898.786,"body":"of"},{"startTime":2898.786,"endTime":2900.342,"body":"the"},{"startTime":2900.342,"endTime":2901.898,"body":"authors"},{"startTime":2901.898,"endTime":2903.454,"body":"on"},{"startTime":2903.454,"endTime":2905.01,"body":"the"},{"startTime":2905.01,"endTime":2906.566,"body":"show"},{"startTime":2906.566,"endTime":2908.122,"body":"in"},{"startTime":2908.122,"endTime":2909.678,"body":"a"},{"startTime":2909.678,"endTime":2911.234,"body":"couple"},{"startTime":2911.234,"endTime":2912.79,"body":"of"},{"startTime":2912.79,"endTime":2914.346,"body":"weeks."},{"startTime":2914.346,"endTime":2915.902,"body":"And"},{"startTime":2915.902,"endTime":2917.458,"body":"we'll"},{"startTime":2917.458,"endTime":2919.014,"body":"probably"},{"startTime":2919.014,"endTime":2920.57,"body":"touch"},{"startTime":2920.57,"endTime":2922.126,"body":"on"},{"startTime":2922.126,"endTime":2923.682,"body":"this"},{"startTime":2923.682,"endTime":2925.238,"body":"again,"},{"startTime":2925.238,"endTime":2926.794,"body":"no"},{"startTime":2926.794,"endTime":2928.35,"body":"doubt."},{"startTime":2884.782,"endTime":2885.928,"body":"\rButwe're"},{"startTime":2885.928,"endTime":2886.501,"body":"going"},{"startTime":2886.501,"endTime":2887.074,"body":"to"},{"startTime":2887.074,"endTime":2887.647,"body":"stay"},{"startTime":2887.647,"endTime":2888.22,"body":"with"},{"startTime":2888.22,"endTime":2888.793,"body":"the"},{"startTime":2888.793,"endTime":2889.366,"body":"Man"},{"startTime":2889.366,"endTime":2889.939,"body":"Group."},{"startTime":2889.939,"endTime":2890.512,"body":"As"},{"startTime":2890.512,"endTime":2891.085,"body":"I"},{"startTime":2891.085,"endTime":2891.658,"body":"said,"},{"startTime":2891.658,"endTime":2892.231,"body":"they've"},{"startTime":2892.231,"endTime":2892.804,"body":"been"},{"startTime":2892.804,"endTime":2893.377,"body":"really"},{"startTime":2893.377,"endTime":2893.95,"body":"busy"},{"startTime":2892.879,"endTime":2894.523,"body":"writing."},{"startTime":2894.523,"endTime":2895.096,"body":"And"},{"startTime":2895.096,"endTime":2895.669,"body":"you"},{"startTime":2895.669,"endTime":2896.242,"body":"identified"},{"startTime":2896.242,"endTime":2896.815,"body":"another"},{"startTime":2896.815,"endTime":2897.388,"body":"paper"},{"startTime":2897.388,"endTime":2897.961,"body":"which"},{"startTime":2897.961,"endTime":2898.534,"body":"is"},{"startTime":2898.534,"endTime":2899.107,"body":"a"},{"startTime":2899.107,"endTime":2899.68,"body":"little"},{"startTime":2899.68,"endTime":2900.253,"body":"bit"},{"startTime":2900.253,"endTime":2900.826,"body":"different,"},{"startTime":2900.826,"endTime":2901.399,"body":"I"},{"startTime":2901.399,"endTime":2901.972,"body":"think,"},{"startTime":2901.972,"endTime":2902.545,"body":"in"},{"startTime":2902.545,"endTime":2903.118,"body":"terms"},{"startTime":2903.118,"endTime":2903.691,"body":"of"},{"startTime":2903.691,"endTime":2904.264,"body":"the"},{"startTime":2904.264,"endTime":2904.837,"body":"topic."},{"startTime":2904.837,"endTime":2905.41,"body":"It's"},{"startTime":2905.41,"endTime":2905.983,"body":"called"},{"startTime":2905.983,"endTime":2906.556,"body":"Alpha"},{"startTime":2906.556,"endTime":2907.129,"body":"Trend"},{"startTime":2907.129,"endTime":2907.702,"body":"and"},{"startTime":2907.702,"endTime":2908.275,"body":"Agentic"},{"startTime":2908.275,"endTime":2908.848,"body":"Research"},{"startTime":2908.848,"endTime":2909.421,"body":"Workflows."},{"startTime":2909.421,"endTime":2909.994,"body":"So,"},{"startTime":2909.994,"endTime":2910.567,"body":"not"},{"startTime":2910.567,"endTime":2911.14,"body":"necessarily"},{"startTime":2911.14,"endTime":2911.713,"body":"specifically"},{"startTime":2911.713,"endTime":2912.286,"body":"about"},{"startTime":2912.286,"endTime":2912.859,"body":"building"},{"startTime":2912.859,"endTime":2913.432,"body":"models,"},{"startTime":2913.432,"endTime":2914.005,"body":"but"},{"startTime":2914.005,"endTime":2914.578,"body":"maybe"},{"startTime":2914.578,"endTime":2915.151,"body":"processes"},{"startTime":2915.151,"endTime":2915.724,"body":"that"},{"startTime":2915.724,"endTime":2916.297,"body":"can"},{"startTime":2916.297,"endTime":2916.87,"body":"help"},{"startTime":2916.87,"endTime":2917.443,"body":"do"},{"startTime":2917.443,"endTime":2918.016,"body":"it"},{"startTime":2918.016,"endTime":2918.589,"body":"easier"},{"startTime":2918.589,"endTime":2919.162,"body":"or"},{"startTime":2919.162,"endTime":2919.735,"body":"perceived"},{"startTime":2919.735,"endTime":2920.308,"body":"to"},{"startTime":2920.308,"endTime":2920.881,"body":"help"},{"startTime":2920.881,"endTime":2921.454,"body":"to"},{"startTime":2921.454,"endTime":2922.027,"body":"do"},{"startTime":2922.027,"endTime":2922.6,"body":"it"},{"startTime":2922.6,"endTime":2923.173,"body":"easier."},{"startTime":2923.173,"endTime":2923.746,"body":"What"},{"startTime":2923.746,"endTime":2924.319,"body":"were"},{"startTime":2924.319,"endTime":2924.892,"body":"your"},{"startTime":2924.892,"endTime":2925.465,"body":"takeaways"},{"startTime":2925.465,"endTime":2926.038,"body":"from"},{"startTime":2926.038,"endTime":2926.611,"body":"the"},{"startTime":2926.611,"endTime":2927.184,"body":"questions"},{"startTime":2927.184,"endTime":2927.757,"body":"they"},{"startTime":2927.757,"endTime":2928.33,"body":"raised?"},{"startTime":2929.072,"endTime":2938.625,"body":"So,"},{"startTime":2938.625,"endTime":2948.178,"body":"I"},{"startTime":2948.178,"endTime":2957.731,"body":"picked"},{"startTime":2957.731,"endTime":2967.284,"body":"this"},{"startTime":2967.284,"endTime":2976.837,"body":"up"},{"startTime":2976.837,"endTime":2986.39,"body":"to"},{"startTime":2986.39,"endTime":2995.943,"body":"discuss,"},{"startTime":2995.943,"endTime":3005.496,"body":"not"},{"startTime":3005.496,"endTime":3015.049,"body":"so"},{"startTime":3015.049,"endTime":3024.602,"body":"much"},{"startTime":3024.602,"endTime":3034.155,"body":"because"},{"startTime":3034.155,"endTime":3043.708,"body":"it"},{"startTime":3043.708,"endTime":3053.261,"body":"talks"},{"startTime":3053.261,"endTime":3062.814,"body":"about"},{"startTime":3062.814,"endTime":3072.367,"body":"trend"},{"startTime":3072.367,"endTime":3081.92,"body":"following."},{"startTime":3081.92,"endTime":3091.473,"body":"Obviously,"},{"startTime":3091.473,"endTime":3101.026,"body":"it"},{"startTime":3101.026,"endTime":3110.579,"body":"came"},{"startTime":3110.579,"endTime":3120.132,"body":"to"},{"startTime":3120.132,"endTime":3129.685,"body":"my"},{"startTime":3129.685,"endTime":3139.238,"body":"inbox"},{"startTime":3139.238,"endTime":3148.791,"body":"as"},{"startTime":3148.791,"endTime":3158.344,"body":"the"},{"startTime":3158.344,"endTime":3167.897,"body":"output"},{"startTime":3167.897,"endTime":3177.45,"body":"of"},{"startTime":3177.45,"endTime":3187.003,"body":"the"},{"startTime":3187.003,"endTime":3196.556,"body":"research"},{"startTime":3196.556,"endTime":3206.109,"body":"at"},{"startTime":3206.109,"endTime":3215.662,"body":"Man."},{"startTime":2929.072,"endTime":3215.682,"body":"\r"},{"startTime":2929.072,"endTime":2942.299,"body":"Ithinkto"},{"startTime":2942.299,"endTime":2946.708,"body":"me"},{"startTime":2946.708,"endTime":2951.117,"body":"this"},{"startTime":2951.117,"endTime":2955.526,"body":"poses"},{"startTime":2955.526,"endTime":2959.935,"body":"a"},{"startTime":2959.935,"endTime":2964.344,"body":"bigger"},{"startTime":2964.344,"endTime":2968.753,"body":"question"},{"startTime":2968.753,"endTime":2973.162,"body":"as"},{"startTime":2973.162,"endTime":2977.571,"body":"to"},{"startTime":2977.571,"endTime":2981.98,"body":"how"},{"startTime":2981.98,"endTime":2986.389,"body":"we"},{"startTime":2986.389,"endTime":2990.798,"body":"see"},{"startTime":2990.798,"endTime":2995.207,"body":"those"},{"startTime":2995.207,"endTime":2999.616,"body":"new"},{"startTime":2999.616,"endTime":3004.025,"body":"technologies"},{"startTime":3004.025,"endTime":3008.434,"body":"and"},{"startTime":3008.434,"endTime":3012.843,"body":"AI,"},{"startTime":3012.843,"endTime":3017.252,"body":"Gen"},{"startTime":3017.252,"endTime":3021.661,"body":"AI,"},{"startTime":3021.661,"endTime":3026.07,"body":"and"},{"startTime":3026.07,"endTime":3030.479,"body":"LLMs"},{"startTime":3030.479,"endTime":3034.888,"body":"becoming"},{"startTime":3034.888,"endTime":3039.297,"body":"not"},{"startTime":3039.297,"endTime":3043.706,"body":"just"},{"startTime":3043.706,"endTime":3048.115,"body":"tools"},{"startTime":3048.115,"endTime":3052.524,"body":"that"},{"startTime":3052.524,"endTime":3056.933,"body":"we"},{"startTime":3056.933,"endTime":3061.342,"body":"use,"},{"startTime":3061.342,"endTime":3065.751,"body":"but"},{"startTime":3065.751,"endTime":3070.16,"body":"eventually"},{"startTime":3070.16,"endTime":3074.569,"body":"become"},{"startTime":3074.569,"endTime":3078.978,"body":"core"},{"startTime":3078.978,"endTime":3083.387,"body":"components"},{"startTime":3083.387,"endTime":3087.796,"body":"of"},{"startTime":3087.796,"endTime":3092.205,"body":"the"},{"startTime":3092.205,"endTime":3096.614,"body":"research"},{"startTime":3096.614,"endTime":3101.023,"body":"process."},{"startTime":3101.023,"endTime":3105.432,"body":"And"},{"startTime":3105.432,"endTime":3109.841,"body":"for"},{"startTime":3109.841,"endTime":3114.25,"body":"the"},{"startTime":3114.25,"endTime":3118.659,"body":"sake"},{"startTime":3118.659,"endTime":3123.068,"body":"of,"},{"startTime":3123.068,"endTime":3127.477,"body":"I"},{"startTime":3127.477,"endTime":3131.886,"body":"guess,"},{"startTime":3131.886,"endTime":3136.295,"body":"those"},{"startTime":3136.295,"endTime":3140.704,"body":"that"},{"startTime":3140.704,"endTime":3145.113,"body":"are"},{"startTime":3145.113,"endTime":3149.522,"body":"listening,"},{"startTime":3149.522,"endTime":3153.931,"body":"the"},{"startTime":3153.931,"endTime":3158.34,"body":"paper"},{"startTime":3158.34,"endTime":3162.749,"body":"talks"},{"startTime":3162.749,"endTime":3167.158,"body":"about"},{"startTime":3167.158,"endTime":3171.567,"body":"kind"},{"startTime":3171.567,"endTime":3175.976,"body":"of"},{"startTime":3175.976,"endTime":3180.385,"body":"designing"},{"startTime":3180.385,"endTime":3184.794,"body":"an"},{"startTime":3184.794,"endTime":3189.203,"body":"agent"},{"startTime":3189.203,"endTime":3193.612,"body":"that"},{"startTime":3193.612,"endTime":3198.021,"body":"can"},{"startTime":3198.021,"endTime":3202.43,"body":"build"},{"startTime":3202.43,"endTime":3206.839,"body":"a"},{"startTime":3206.839,"endTime":3211.248,"body":"trend"},{"startTime":3211.248,"endTime":3215.657,"body":"system."},{"startTime":2929.072,"endTime":2936.516,"body":"\rSo,to"},{"startTime":2936.516,"endTime":2940.238,"body":"a"},{"startTime":2940.238,"endTime":2943.96,"body":"certain"},{"startTime":2943.96,"endTime":2947.682,"body":"extent,"},{"startTime":2947.682,"endTime":2951.404,"body":"running"},{"startTime":2951.404,"endTime":2955.126,"body":"a"},{"startTime":2955.126,"endTime":2958.848,"body":"trend"},{"startTime":2958.848,"endTime":2962.57,"body":"following"},{"startTime":2962.57,"endTime":2966.292,"body":"strategy"},{"startTime":2966.292,"endTime":2970.014,"body":"or"},{"startTime":2970.014,"endTime":2973.736,"body":"any"},{"startTime":2973.736,"endTime":2977.458,"body":"systematic"},{"startTime":2977.458,"endTime":2981.18,"body":"strategy"},{"startTime":2981.18,"endTime":2984.902,"body":"is"},{"startTime":2984.902,"endTime":2988.624,"body":"a"},{"startTime":2988.624,"endTime":2992.346,"body":"very"},{"startTime":2992.346,"endTime":2996.068,"body":"deterministic"},{"startTime":2996.068,"endTime":2999.79,"body":"process."},{"startTime":2999.79,"endTime":3003.512,"body":"You"},{"startTime":3003.512,"endTime":3007.234,"body":"have"},{"startTime":3007.234,"endTime":3010.956,"body":"your"},{"startTime":3010.956,"endTime":3014.678,"body":"data,"},{"startTime":3014.678,"endTime":3018.4,"body":"you"},{"startTime":3018.4,"endTime":3022.122,"body":"clean"},{"startTime":3022.122,"endTime":3025.844,"body":"your"},{"startTime":3025.844,"endTime":3029.566,"body":"data,"},{"startTime":3029.566,"endTime":3033.288,"body":"you"},{"startTime":3033.288,"endTime":3037.01,"body":"build"},{"startTime":3037.01,"endTime":3040.732,"body":"a"},{"startTime":3040.732,"endTime":3044.454,"body":"signal,"},{"startTime":3044.454,"endTime":3048.176,"body":"you"},{"startTime":3048.176,"endTime":3051.898,"body":"estimate"},{"startTime":3051.898,"endTime":3055.62,"body":"risk,"},{"startTime":3055.62,"endTime":3059.342,"body":"you"},{"startTime":3059.342,"endTime":3063.064,"body":"throw"},{"startTime":3063.064,"endTime":3066.786,"body":"that"},{"startTime":3066.786,"endTime":3070.508,"body":"into"},{"startTime":3070.508,"endTime":3074.23,"body":"an"},{"startTime":3074.23,"endTime":3077.952,"body":"optimizer,"},{"startTime":3077.952,"endTime":3081.674,"body":"maybe"},{"startTime":3081.674,"endTime":3085.396,"body":"a"},{"startTime":3085.396,"endTime":3089.118,"body":"ranking"},{"startTime":3089.118,"endTime":3092.84,"body":"methodology,"},{"startTime":3092.84,"endTime":3096.562,"body":"whatever"},{"startTime":3096.562,"endTime":3100.284,"body":"that"},{"startTime":3100.284,"endTime":3104.006,"body":"is."},{"startTime":3104.006,"endTime":3107.728,"body":"You"},{"startTime":3107.728,"endTime":3111.45,"body":"get"},{"startTime":3111.45,"endTime":3115.172,"body":"target"},{"startTime":3115.172,"endTime":3118.894,"body":"weights,"},{"startTime":3118.894,"endTime":3122.616,"body":"you"},{"startTime":3122.616,"endTime":3126.338,"body":"have"},{"startTime":3126.338,"endTime":3130.06,"body":"some"},{"startTime":3130.06,"endTime":3133.782,"body":"liquidity"},{"startTime":3133.782,"endTime":3137.504,"body":"control,"},{"startTime":3137.504,"endTime":3141.226,"body":"you"},{"startTime":3141.226,"endTime":3144.948,"body":"have"},{"startTime":3144.948,"endTime":3148.67,"body":"some"},{"startTime":3148.67,"endTime":3152.392,"body":"volatility"},{"startTime":3152.392,"endTime":3156.114,"body":"target."},{"startTime":3156.114,"endTime":3159.836,"body":"And"},{"startTime":3159.836,"endTime":3163.558,"body":"here"},{"startTime":3163.558,"endTime":3167.28,"body":"you"},{"startTime":3167.28,"endTime":3171.002,"body":"are"},{"startTime":3171.002,"endTime":3174.724,"body":"at"},{"startTime":3174.724,"endTime":3178.446,"body":"the"},{"startTime":3178.446,"endTime":3182.168,"body":"quantities"},{"startTime":3182.168,"endTime":3185.89,"body":"to"},{"startTime":3185.89,"endTime":3189.612,"body":"trade"},{"startTime":3189.612,"endTime":3193.334,"body":"on"},{"startTime":3193.334,"endTime":3197.056,"body":"a"},{"startTime":3197.056,"endTime":3200.778,"body":"daily"},{"startTime":3200.778,"endTime":3204.5,"body":"basis"},{"startTime":3204.5,"endTime":3208.222,"body":"or"},{"startTime":3208.222,"endTime":3211.944,"body":"whatever"},{"startTime":3211.944,"endTime":3215.666,"body":"basis."},{"startTime":2929.072,"endTime":2944.564,"body":"\rSo,that"},{"startTime":2944.564,"endTime":2952.31,"body":"process"},{"startTime":2952.31,"endTime":2960.056,"body":"is"},{"startTime":2960.056,"endTime":2967.802,"body":"very"},{"startTime":2967.802,"endTime":2975.548,"body":"deterministic."},{"startTime":2975.548,"endTime":2983.294,"body":"And"},{"startTime":2983.294,"endTime":2991.04,"body":"certainly"},{"startTime":2991.04,"endTime":2998.786,"body":"you"},{"startTime":2998.786,"endTime":3006.532,"body":"can"},{"startTime":3006.532,"endTime":3014.278,"body":"think"},{"startTime":3014.278,"endTime":3022.024,"body":"of"},{"startTime":3022.024,"endTime":3029.77,"body":"a"},{"startTime":3029.77,"endTime":3037.516,"body":"world"},{"startTime":3037.516,"endTime":3045.262,"body":"whereby"},{"startTime":3045.262,"endTime":3053.008,"body":"single"},{"startTime":3053.008,"endTime":3060.754,"body":"agents"},{"startTime":3060.754,"endTime":3068.5,"body":"do"},{"startTime":3068.5,"endTime":3076.246,"body":"that"},{"startTime":3076.246,"endTime":3083.992,"body":"job"},{"startTime":3083.992,"endTime":3091.738,"body":"for"},{"startTime":3091.738,"endTime":3099.484,"body":"you"},{"startTime":3099.484,"endTime":3107.23,"body":"and"},{"startTime":3107.23,"endTime":3114.976,"body":"there's"},{"startTime":3114.976,"endTime":3122.722,"body":"a"},{"startTime":3122.722,"endTime":3130.468,"body":"kind"},{"startTime":3130.468,"endTime":3138.214,"body":"of"},{"startTime":3138.214,"endTime":3145.96,"body":"a"},{"startTime":3145.96,"endTime":3153.706,"body":"supervisor"},{"startTime":3153.706,"endTime":3161.452,"body":"that"},{"startTime":3161.452,"endTime":3169.198,"body":"allows"},{"startTime":3169.198,"endTime":3176.944,"body":"you"},{"startTime":3176.944,"endTime":3184.69,"body":"to"},{"startTime":3184.69,"endTime":3192.436,"body":"command"},{"startTime":3192.436,"endTime":3200.182,"body":"this"},{"startTime":3200.182,"endTime":3207.928,"body":"whole"},{"startTime":3207.928,"endTime":3215.674,"body":"ecosystem."},{"startTime":2929.072,"endTime":2939.128,"body":"\rAndthey"},{"startTime":2939.128,"endTime":2944.156,"body":"make"},{"startTime":2944.156,"endTime":2949.184,"body":"the"},{"startTime":2949.184,"endTime":2954.212,"body":"point"},{"startTime":2954.212,"endTime":2959.24,"body":"that"},{"startTime":2959.24,"endTime":2964.268,"body":"the"},{"startTime":2964.268,"endTime":2969.296,"body":"current"},{"startTime":2969.296,"endTime":2974.324,"body":"kind"},{"startTime":2974.324,"endTime":2979.352,"body":"of"},{"startTime":2979.352,"endTime":2984.38,"body":"chatbots"},{"startTime":2984.38,"endTime":2989.408,"body":"that"},{"startTime":2989.408,"endTime":2994.436,"body":"we"},{"startTime":2994.436,"endTime":2999.464,"body":"have"},{"startTime":2999.464,"endTime":3004.492,"body":"are"},{"startTime":3004.492,"endTime":3009.52,"body":"probably"},{"startTime":3009.52,"endTime":3014.548,"body":"kind"},{"startTime":3014.548,"endTime":3019.576,"body":"of"},{"startTime":3019.576,"endTime":3024.604,"body":"more"},{"startTime":3024.604,"endTime":3029.632,"body":"shallow"},{"startTime":3029.632,"endTime":3034.66,"body":"in"},{"startTime":3034.66,"endTime":3039.688,"body":"the"},{"startTime":3039.688,"endTime":3044.716,"body":"amount"},{"startTime":3044.716,"endTime":3049.744,"body":"of"},{"startTime":3049.744,"endTime":3054.772,"body":"depth,"},{"startTime":3054.772,"endTime":3059.8,"body":"but"},{"startTime":3059.8,"endTime":3064.828,"body":"very"},{"startTime":3064.828,"endTime":3069.856,"body":"broad"},{"startTime":3069.856,"endTime":3074.884,"body":"in"},{"startTime":3074.884,"endTime":3079.912,"body":"the"},{"startTime":3079.912,"endTime":3084.94,"body":"topics"},{"startTime":3084.94,"endTime":3089.968,"body":"we"},{"startTime":3089.968,"endTime":3094.996,"body":"can"},{"startTime":3094.996,"endTime":3100.024,"body":"discuss."},{"startTime":3100.024,"endTime":3105.052,"body":"This"},{"startTime":3105.052,"endTime":3110.08,"body":"model"},{"startTime":3110.08,"endTime":3115.108,"body":"of"},{"startTime":3115.108,"endTime":3120.136,"body":"conducting"},{"startTime":3120.136,"endTime":3125.164,"body":"research"},{"startTime":3125.164,"endTime":3130.192,"body":"is"},{"startTime":3130.192,"endTime":3135.22,"body":"much"},{"startTime":3135.22,"endTime":3140.248,"body":"more"},{"startTime":3140.248,"endTime":3145.276,"body":"targeted."},{"startTime":3145.276,"endTime":3150.304,"body":"So"},{"startTime":3150.304,"endTime":3155.332,"body":"very"},{"startTime":3155.332,"endTime":3160.36,"body":"narrow"},{"startTime":3160.36,"endTime":3165.388,"body":"in"},{"startTime":3165.388,"endTime":3170.416,"body":"terms"},{"startTime":3170.416,"endTime":3175.444,"body":"of"},{"startTime":3175.444,"endTime":3180.472,"body":"scope,"},{"startTime":3180.472,"endTime":3185.5,"body":"but"},{"startTime":3185.5,"endTime":3190.528,"body":"very"},{"startTime":3190.528,"endTime":3195.556,"body":"deep"},{"startTime":3195.556,"endTime":3200.584,"body":"in"},{"startTime":3200.584,"endTime":3205.612,"body":"terms"},{"startTime":3205.612,"endTime":3210.64,"body":"of"},{"startTime":3210.64,"endTime":3215.668,"body":"analysis."},{"startTime":2929.072,"endTime":2940.31,"body":"\rSo,in"},{"startTime":2940.31,"endTime":2945.929,"body":"that"},{"startTime":2945.929,"endTime":2951.548,"body":"context,"},{"startTime":2951.548,"endTime":2957.167,"body":"again"},{"startTime":2957.167,"endTime":2962.786,"body":"to"},{"startTime":2962.786,"endTime":2968.405,"body":"their"},{"startTime":2968.405,"endTime":2974.024,"body":"paper,"},{"startTime":2974.024,"endTime":2979.643,"body":"they"},{"startTime":2979.643,"endTime":2985.262,"body":"kind"},{"startTime":2985.262,"endTime":2990.881,"body":"of"},{"startTime":2990.881,"endTime":2996.5,"body":"give"},{"startTime":2996.5,"endTime":3002.119,"body":"it"},{"startTime":3002.119,"endTime":3007.738,"body":"out,"},{"startTime":3007.738,"endTime":3013.357,"body":"they"},{"startTime":3013.357,"endTime":3018.976,"body":"give"},{"startTime":3018.976,"endTime":3024.595,"body":"it"},{"startTime":3024.595,"endTime":3030.214,"body":"a"},{"startTime":3030.214,"endTime":3035.833,"body":"breakout"},{"startTime":3035.833,"endTime":3041.452,"body":"signal,"},{"startTime":3041.452,"endTime":3047.071,"body":"and"},{"startTime":3047.071,"endTime":3052.69,"body":"they"},{"startTime":3052.69,"endTime":3058.309,"body":"deliberately"},{"startTime":3058.309,"endTime":3063.928,"body":"remove"},{"startTime":3063.928,"endTime":3069.547,"body":"some"},{"startTime":3069.547,"endTime":3075.166,"body":"good"},{"startTime":3075.166,"endTime":3080.785,"body":"feature"},{"startTime":3080.785,"endTime":3086.404,"body":"out"},{"startTime":3086.404,"endTime":3092.023,"body":"of"},{"startTime":3092.023,"endTime":3097.642,"body":"it,"},{"startTime":3097.642,"endTime":3103.261,"body":"and"},{"startTime":3103.261,"endTime":3108.88,"body":"then"},{"startTime":3108.88,"endTime":3114.499,"body":"they"},{"startTime":3114.499,"endTime":3120.118,"body":"obviously"},{"startTime":3120.118,"endTime":3125.737,"body":"ask"},{"startTime":3125.737,"endTime":3131.356,"body":"the"},{"startTime":3131.356,"endTime":3136.975,"body":"model"},{"startTime":3136.975,"endTime":3142.594,"body":"to"},{"startTime":3142.594,"endTime":3148.213,"body":"find"},{"startTime":3148.213,"endTime":3153.832,"body":"what"},{"startTime":3153.832,"endTime":3159.451,"body":"this"},{"startTime":3159.451,"endTime":3165.07,"body":"feature"},{"startTime":3165.07,"endTime":3170.689,"body":"could"},{"startTime":3170.689,"endTime":3176.308,"body":"be"},{"startTime":3176.308,"endTime":3181.927,"body":"by,"},{"startTime":3181.927,"endTime":3187.546,"body":"I"},{"startTime":3187.546,"endTime":3193.165,"body":"guess,"},{"startTime":3193.165,"endTime":3198.784,"body":"describing"},{"startTime":3198.784,"endTime":3204.403,"body":"it"},{"startTime":3204.403,"endTime":3210.022,"body":"with"},{"startTime":3210.022,"endTime":3215.641,"body":"words."},{"startTime":2929.072,"endTime":2932.746,"body":"\rAndyes,"},{"startTime":2932.746,"endTime":2934.583,"body":"the"},{"startTime":2934.583,"endTime":2936.42,"body":"model"},{"startTime":2936.42,"endTime":2938.257,"body":"does"},{"startTime":2938.257,"endTime":2940.094,"body":"pick"},{"startTime":2940.094,"endTime":2941.931,"body":"it"},{"startTime":2941.931,"endTime":2943.768,"body":"up"},{"startTime":2943.768,"endTime":2945.605,"body":"and"},{"startTime":2945.605,"endTime":2947.442,"body":"does"},{"startTime":2947.442,"endTime":2949.279,"body":"outperform,"},{"startTime":2949.279,"endTime":2951.116,"body":"but"},{"startTime":2951.116,"endTime":2952.953,"body":"then"},{"startTime":2952.953,"endTime":2954.79,"body":"there"},{"startTime":2954.79,"endTime":2956.627,"body":"is"},{"startTime":2956.627,"endTime":2958.464,"body":"another"},{"startTime":2958.464,"endTime":2960.301,"body":"feature"},{"startTime":2960.301,"endTime":2962.138,"body":"that"},{"startTime":2962.138,"endTime":2963.975,"body":"should"},{"startTime":2963.975,"endTime":2965.812,"body":"not"},{"startTime":2965.812,"endTime":2967.649,"body":"be"},{"startTime":2967.649,"endTime":2969.486,"body":"value"},{"startTime":2969.486,"endTime":2971.323,"body":"accredited."},{"startTime":2971.323,"endTime":2973.16,"body":"And"},{"startTime":2973.16,"endTime":2974.997,"body":"then"},{"startTime":2974.997,"endTime":2976.834,"body":"the"},{"startTime":2976.834,"endTime":2978.671,"body":"model"},{"startTime":2978.671,"endTime":2980.508,"body":"indeed"},{"startTime":2980.508,"endTime":2982.345,"body":"finds"},{"startTime":2982.345,"endTime":2984.182,"body":"that"},{"startTime":2984.182,"endTime":2986.019,"body":"it's"},{"startTime":2986.019,"endTime":2987.856,"body":"not"},{"startTime":2987.856,"endTime":2989.693,"body":"as"},{"startTime":2989.693,"endTime":2991.53,"body":"useful"},{"startTime":2991.53,"endTime":2993.367,"body":"as"},{"startTime":2993.367,"endTime":2995.204,"body":"you'd"},{"startTime":2995.204,"endTime":2997.041,"body":"expect"},{"startTime":2997.041,"endTime":2998.878,"body":"it"},{"startTime":2998.878,"endTime":3000.715,"body":"to"},{"startTime":3000.715,"endTime":3002.552,"body":"be."},{"startTime":3002.552,"endTime":3004.389,"body":"And"},{"startTime":3004.389,"endTime":3006.226,"body":"broadly"},{"startTime":3006.226,"endTime":3008.063,"body":"speaking,"},{"startTime":3008.063,"endTime":3009.9,"body":"they"},{"startTime":3009.9,"endTime":3011.737,"body":"make"},{"startTime":3011.737,"endTime":3013.574,"body":"the"},{"startTime":3013.574,"endTime":3015.411,"body":"point"},{"startTime":3015.411,"endTime":3017.248,"body":"that"},{"startTime":3017.248,"endTime":3019.085,"body":"the"},{"startTime":3019.085,"endTime":3020.922,"body":"model"},{"startTime":3020.922,"endTime":3022.759,"body":"can"},{"startTime":3022.759,"endTime":3024.596,"body":"actually"},{"startTime":3024.596,"endTime":3026.433,"body":"go"},{"startTime":3026.433,"endTime":3028.27,"body":"and"},{"startTime":3028.27,"endTime":3030.107,"body":"operate"},{"startTime":3030.107,"endTime":3031.944,"body":"as"},{"startTime":3031.944,"endTime":3033.781,"body":"a"},{"startTime":3033.781,"endTime":3035.618,"body":"human"},{"startTime":3035.618,"endTime":3037.455,"body":"being,"},{"startTime":3037.455,"endTime":3039.292,"body":"good."},{"startTime":3039.292,"endTime":3041.129,"body":"But"},{"startTime":3041.129,"endTime":3042.966,"body":"equally,"},{"startTime":3042.966,"endTime":3044.803,"body":"I"},{"startTime":3044.803,"endTime":3046.64,"body":"think"},{"startTime":3046.64,"endTime":3048.477,"body":"what’s"},{"startTime":3048.477,"endTime":3050.314,"body":"even"},{"startTime":3050.314,"endTime":3052.151,"body":"more"},{"startTime":3052.151,"endTime":3053.988,"body":"important,"},{"startTime":3053.988,"endTime":3055.825,"body":"that"},{"startTime":3055.825,"endTime":3057.662,"body":"human"},{"startTime":3057.662,"endTime":3059.499,"body":"judgment"},{"startTime":3059.499,"endTime":3061.336,"body":"remains"},{"startTime":3061.336,"endTime":3063.173,"body":"extremely"},{"startTime":3063.173,"endTime":3065.01,"body":"important"},{"startTime":3065.01,"endTime":3066.847,"body":"not"},{"startTime":3066.847,"endTime":3068.684,"body":"just"},{"startTime":3068.684,"endTime":3070.521,"body":"from"},{"startTime":3070.521,"endTime":3072.358,"body":"how"},{"startTime":3072.358,"endTime":3074.195,"body":"you"},{"startTime":3074.195,"endTime":3076.032,"body":"frame"},{"startTime":3076.032,"endTime":3077.869,"body":"the"},{"startTime":3077.869,"endTime":3079.706,"body":"questions,"},{"startTime":3079.706,"endTime":3081.543,"body":"and"},{"startTime":3081.543,"endTime":3083.38,"body":"how"},{"startTime":3083.38,"endTime":3085.217,"body":"you"},{"startTime":3085.217,"endTime":3087.054,"body":"guide"},{"startTime":3087.054,"endTime":3088.891,"body":"the"},{"startTime":3088.891,"endTime":3090.728,"body":"process,"},{"startTime":3090.728,"endTime":3092.565,"body":"and"},{"startTime":3092.565,"endTime":3094.402,"body":"how"},{"startTime":3094.402,"endTime":3096.239,"body":"you"},{"startTime":3096.239,"endTime":3098.076,"body":"interpret"},{"startTime":3098.076,"endTime":3099.913,"body":"the"},{"startTime":3099.913,"endTime":3101.75,"body":"results,"},{"startTime":3101.75,"endTime":3103.587,"body":"but"},{"startTime":3103.587,"endTime":3105.424,"body":"also"},{"startTime":3105.424,"endTime":3107.261,"body":"kind"},{"startTime":3107.261,"endTime":3109.098,"body":"of"},{"startTime":3109.098,"endTime":3110.935,"body":"safeguarding"},{"startTime":3110.935,"endTime":3112.772,"body":"against"},{"startTime":3112.772,"endTime":3114.609,"body":"multiple"},{"startTime":3114.609,"endTime":3116.446,"body":"testing,"},{"startTime":3116.446,"endTime":3118.283,"body":"overfitting,"},{"startTime":3118.283,"endTime":3120.12,"body":"things"},{"startTime":3120.12,"endTime":3121.957,"body":"that"},{"startTime":3121.957,"endTime":3123.794,"body":"we"},{"startTime":3123.794,"endTime":3125.631,"body":"have"},{"startTime":3125.631,"endTime":3127.468,"body":"been"},{"startTime":3127.468,"endTime":3129.305,"body":"discussing"},{"startTime":3129.305,"endTime":3131.142,"body":"for"},{"startTime":3131.142,"endTime":3132.979,"body":"years"},{"startTime":3132.979,"endTime":3134.816,"body":"and"},{"startTime":3134.816,"endTime":3136.653,"body":"how"},{"startTime":3136.653,"endTime":3138.49,"body":"the"},{"startTime":3138.49,"endTime":3140.327,"body":"culture"},{"startTime":3140.327,"endTime":3142.164,"body":"of"},{"startTime":3142.164,"endTime":3144.001,"body":"a"},{"startTime":3144.001,"endTime":3145.838,"body":"research"},{"startTime":3145.838,"endTime":3147.675,"body":"team"},{"startTime":3147.675,"endTime":3149.512,"body":"is"},{"startTime":3149.512,"endTime":3151.349,"body":"more"},{"startTime":3151.349,"endTime":3153.186,"body":"important"},{"startTime":3153.186,"endTime":3155.023,"body":"than"},{"startTime":3155.023,"endTime":3156.86,"body":"the"},{"startTime":3156.86,"endTime":3158.697,"body":"research"},{"startTime":3158.697,"endTime":3160.534,"body":"team"},{"startTime":3160.534,"endTime":3162.371,"body":"itself."},{"startTime":3162.371,"endTime":3164.208,"body":"I"},{"startTime":3164.208,"endTime":3166.045,"body":"think"},{"startTime":3166.045,"endTime":3167.882,"body":"they"},{"startTime":3167.882,"endTime":3169.719,"body":"make"},{"startTime":3169.719,"endTime":3171.556,"body":"the"},{"startTime":3171.556,"endTime":3173.393,"body":"same"},{"startTime":3173.393,"endTime":3175.23,"body":"point,"},{"startTime":3175.23,"endTime":3177.067,"body":"but"},{"startTime":3177.067,"endTime":3178.904,"body":"now"},{"startTime":3178.904,"endTime":3180.741,"body":"the"},{"startTime":3180.741,"endTime":3182.578,"body":"research"},{"startTime":3182.578,"endTime":3184.415,"body":"team"},{"startTime":3184.415,"endTime":3186.252,"body":"happens"},{"startTime":3186.252,"endTime":3188.089,"body":"to"},{"startTime":3188.089,"endTime":3189.926,"body":"be"},{"startTime":3189.926,"endTime":3191.763,"body":"like"},{"startTime":3191.763,"endTime":3193.6,"body":"kind"},{"startTime":3193.6,"endTime":3195.437,"body":"of"},{"startTime":3195.437,"endTime":3197.274,"body":"an"},{"startTime":3197.274,"endTime":3199.111,"body":"agentic"},{"startTime":3199.111,"endTime":3200.948,"body":"model"},{"startTime":3200.948,"endTime":3202.785,"body":"rather"},{"startTime":3202.785,"endTime":3204.622,"body":"than"},{"startTime":3204.622,"endTime":3206.459,"body":"an"},{"startTime":3206.459,"endTime":3208.296,"body":"individual"},{"startTime":3208.296,"endTime":3210.133,"body":"or"},{"startTime":3210.133,"endTime":3211.97,"body":"like"},{"startTime":3211.97,"endTime":3213.807,"body":"a"},{"startTime":3213.807,"endTime":3215.644,"body":"team."},{"startTime":2929.072,"endTime":2934.428,"body":"\rSo,I'm"},{"startTime":2934.428,"endTime":2937.106,"body":"kind"},{"startTime":2937.106,"endTime":2939.784,"body":"of"},{"startTime":2939.784,"endTime":2942.462,"body":"bringing"},{"startTime":2942.462,"endTime":2945.14,"body":"that"},{"startTime":2945.14,"endTime":2947.818,"body":"up,"},{"startTime":2947.818,"endTime":2950.496,"body":"maybe"},{"startTime":2950.496,"endTime":2953.174,"body":"the"},{"startTime":2953.174,"endTime":2955.852,"body":"last"},{"startTime":2955.852,"endTime":2958.53,"body":"point,"},{"startTime":2958.53,"endTime":2961.208,"body":"they"},{"startTime":2961.208,"endTime":2963.886,"body":"kind"},{"startTime":2963.886,"endTime":2966.564,"body":"of"},{"startTime":2966.564,"endTime":2969.242,"body":"use"},{"startTime":2969.242,"endTime":2971.92,"body":"different"},{"startTime":2971.92,"endTime":2974.598,"body":"models"},{"startTime":2974.598,"endTime":2977.276,"body":"like"},{"startTime":2977.276,"endTime":2979.954,"body":"Claude,"},{"startTime":2979.954,"endTime":2982.632,"body":"and"},{"startTime":2982.632,"endTime":2985.31,"body":"GPT,"},{"startTime":2985.31,"endTime":2987.988,"body":"and"},{"startTime":2987.988,"endTime":2990.666,"body":"so"},{"startTime":2990.666,"endTime":2993.344,"body":"on,"},{"startTime":2993.344,"endTime":2996.022,"body":"and"},{"startTime":2996.022,"endTime":2998.7,"body":"so"},{"startTime":2998.7,"endTime":3001.378,"body":"forth,"},{"startTime":3001.378,"endTime":3004.056,"body":"with"},{"startTime":3004.056,"endTime":3006.734,"body":"the"},{"startTime":3006.734,"endTime":3009.412,"body":"same"},{"startTime":3009.412,"endTime":3012.09,"body":"prompts,"},{"startTime":3012.09,"endTime":3014.768,"body":"and"},{"startTime":3014.768,"endTime":3017.446,"body":"they"},{"startTime":3017.446,"endTime":3020.124,"body":"found"},{"startTime":3020.124,"endTime":3022.802,"body":"that"},{"startTime":3022.802,"endTime":3025.48,"body":"the"},{"startTime":3025.48,"endTime":3028.158,"body":"outcome"},{"startTime":3028.158,"endTime":3030.836,"body":"was"},{"startTime":3030.836,"endTime":3033.514,"body":"actually"},{"startTime":3033.514,"endTime":3036.192,"body":"quite"},{"startTime":3036.192,"endTime":3038.87,"body":"different,"},{"startTime":3038.87,"endTime":3041.548,"body":"but"},{"startTime":3041.548,"endTime":3044.226,"body":"not"},{"startTime":3044.226,"endTime":3046.904,"body":"necessarily"},{"startTime":3046.904,"endTime":3049.582,"body":"worse"},{"startTime":3049.582,"endTime":3052.26,"body":"or"},{"startTime":3052.26,"endTime":3054.938,"body":"better."},{"startTime":3054.938,"endTime":3057.616,"body":"So"},{"startTime":3057.616,"endTime":3060.294,"body":"one,"},{"startTime":3060.294,"endTime":3062.972,"body":"for"},{"startTime":3062.972,"endTime":3065.65,"body":"example,"},{"startTime":3065.65,"endTime":3068.328,"body":"was"},{"startTime":3068.328,"endTime":3071.006,"body":"more"},{"startTime":3071.006,"endTime":3073.684,"body":"of"},{"startTime":3073.684,"endTime":3076.362,"body":"a"},{"startTime":3076.362,"endTime":3079.04,"body":"kind"},{"startTime":3079.04,"endTime":3081.718,"body":"of"},{"startTime":3081.718,"endTime":3084.396,"body":"a"},{"startTime":3084.396,"endTime":3087.074,"body":"single"},{"startTime":3087.074,"endTime":3089.752,"body":"direction"},{"startTime":3089.752,"endTime":3092.43,"body":"minded"},{"startTime":3092.43,"endTime":3095.108,"body":"with"},{"startTime":3095.108,"endTime":3097.786,"body":"very"},{"startTime":3097.786,"endTime":3100.464,"body":"correlated"},{"startTime":3100.464,"endTime":3103.142,"body":"outcomes."},{"startTime":3103.142,"endTime":3105.82,"body":"The"},{"startTime":3105.82,"endTime":3108.498,"body":"other"},{"startTime":3108.498,"endTime":3111.176,"body":"one"},{"startTime":3111.176,"endTime":3113.854,"body":"was"},{"startTime":3113.854,"endTime":3116.532,"body":"a"},{"startTime":3116.532,"endTime":3119.21,"body":"bit"},{"startTime":3119.21,"endTime":3121.888,"body":"more"},{"startTime":3121.888,"endTime":3124.566,"body":"dispersed"},{"startTime":3124.566,"endTime":3127.244,"body":"in"},{"startTime":3127.244,"endTime":3129.922,"body":"the"},{"startTime":3129.922,"endTime":3132.6,"body":"way"},{"startTime":3132.6,"endTime":3135.278,"body":"that"},{"startTime":3135.278,"endTime":3137.956,"body":"it"},{"startTime":3137.956,"endTime":3140.634,"body":"kind"},{"startTime":3140.634,"endTime":3143.312,"body":"of"},{"startTime":3143.312,"endTime":3145.99,"body":"treated"},{"startTime":3145.99,"endTime":3148.668,"body":"the"},{"startTime":3148.668,"endTime":3151.346,"body":"data."},{"startTime":3151.346,"endTime":3154.024,"body":"But"},{"startTime":3154.024,"endTime":3156.702,"body":"broadly"},{"startTime":3156.702,"endTime":3159.38,"body":"speaking,"},{"startTime":3159.38,"endTime":3162.058,"body":"the"},{"startTime":3162.058,"endTime":3164.736,"body":"one"},{"startTime":3164.736,"endTime":3167.414,"body":"thing"},{"startTime":3167.414,"endTime":3170.092,"body":"that"},{"startTime":3170.092,"endTime":3172.77,"body":"at"},{"startTime":3172.77,"endTime":3175.448,"body":"least"},{"startTime":3175.448,"endTime":3178.126,"body":"remains,"},{"startTime":3178.126,"endTime":3180.804,"body":"in"},{"startTime":3180.804,"endTime":3183.482,"body":"my"},{"startTime":3183.482,"endTime":3186.16,"body":"personal"},{"startTime":3186.16,"endTime":3188.838,"body":"view,"},{"startTime":3188.838,"endTime":3191.516,"body":"is"},{"startTime":3191.516,"endTime":3194.194,"body":"that"},{"startTime":3194.194,"endTime":3196.872,"body":"we"},{"startTime":3196.872,"endTime":3199.55,"body":"still"},{"startTime":3199.55,"endTime":3202.228,"body":"require"},{"startTime":3202.228,"endTime":3204.906,"body":"this"},{"startTime":3204.906,"endTime":3207.584,"body":"kind"},{"startTime":3207.584,"endTime":3210.262,"body":"of"},{"startTime":3210.262,"endTime":3212.94,"body":"critical"},{"startTime":3212.94,"endTime":3215.618,"body":"thinking."},{"startTime":2929.072,"endTime":3215.682,"body":"\r"},{"startTime":2929.072,"endTime":2948.179,"body":"Ithinkthe"},{"startTime":2948.179,"endTime":2954.548,"body":"synthesis"},{"startTime":2954.548,"endTime":2960.917,"body":"that"},{"startTime":2960.917,"endTime":2967.286,"body":"those"},{"startTime":2967.286,"endTime":2973.655,"body":"models"},{"startTime":2973.655,"endTime":2980.024,"body":"can"},{"startTime":2980.024,"endTime":2986.393,"body":"do"},{"startTime":2986.393,"endTime":2992.762,"body":"is"},{"startTime":2992.762,"endTime":2999.131,"body":"insane."},{"startTime":2999.131,"endTime":3005.5,"body":"I'm"},{"startTime":3005.5,"endTime":3011.869,"body":"personally"},{"startTime":3011.869,"endTime":3018.238,"body":"surprised"},{"startTime":3018.238,"endTime":3024.607,"body":"every"},{"startTime":3024.607,"endTime":3030.976,"body":"single"},{"startTime":3030.976,"endTime":3037.345,"body":"day"},{"startTime":3037.345,"endTime":3043.714,"body":"by"},{"startTime":3043.714,"endTime":3050.083,"body":"using"},{"startTime":3050.083,"endTime":3056.452,"body":"the"},{"startTime":3056.452,"endTime":3062.821,"body":"tools,"},{"startTime":3062.821,"endTime":3069.19,"body":"but"},{"startTime":3069.19,"endTime":3075.559,"body":"I"},{"startTime":3075.559,"endTime":3081.928,"body":"think"},{"startTime":3081.928,"endTime":3088.297,"body":"having"},{"startTime":3088.297,"endTime":3094.666,"body":"some"},{"startTime":3094.666,"endTime":3101.035,"body":"sort"},{"startTime":3101.035,"endTime":3107.404,"body":"of"},{"startTime":3107.404,"endTime":3113.773,"body":"a"},{"startTime":3113.773,"endTime":3120.142,"body":"disciplined"},{"startTime":3120.142,"endTime":3126.511,"body":"evaluation"},{"startTime":3126.511,"endTime":3132.88,"body":"of"},{"startTime":3132.88,"endTime":3139.249,"body":"the"},{"startTime":3139.249,"endTime":3145.618,"body":"outcome"},{"startTime":3145.618,"endTime":3151.987,"body":"and"},{"startTime":3151.987,"endTime":3158.356,"body":"having"},{"startTime":3158.356,"endTime":3164.725,"body":"critical"},{"startTime":3164.725,"endTime":3171.094,"body":"thinking"},{"startTime":3171.094,"endTime":3177.463,"body":"of"},{"startTime":3177.463,"endTime":3183.832,"body":"the"},{"startTime":3183.832,"endTime":3190.201,"body":"outcome"},{"startTime":3190.201,"endTime":3196.57,"body":"is"},{"startTime":3196.57,"endTime":3202.939,"body":"extremely,"},{"startTime":3202.939,"endTime":3209.308,"body":"extremely"},{"startTime":3209.308,"endTime":3215.677,"body":"important."},{"startTime":2929.072,"endTime":2937.378,"body":"\rI'llgive"},{"startTime":2937.378,"endTime":2941.531,"body":"you"},{"startTime":2941.531,"endTime":2945.684,"body":"this"},{"startTime":2945.684,"endTime":2949.837,"body":"example,"},{"startTime":2949.837,"endTime":2953.99,"body":"unrelated"},{"startTime":2953.99,"endTime":2958.143,"body":"to"},{"startTime":2958.143,"endTime":2962.296,"body":"the"},{"startTime":2962.296,"endTime":2966.449,"body":"paper."},{"startTime":2966.449,"endTime":2970.602,"body":"I"},{"startTime":2970.602,"endTime":2974.755,"body":"went"},{"startTime":2974.755,"endTime":2978.908,"body":"to"},{"startTime":2978.908,"endTime":2983.061,"body":"one"},{"startTime":2983.061,"endTime":2987.214,"body":"of"},{"startTime":2987.214,"endTime":2991.367,"body":"those"},{"startTime":2991.367,"endTime":2995.52,"body":"engines"},{"startTime":2995.52,"endTime":2999.673,"body":"recently,"},{"startTime":2999.673,"endTime":3003.826,"body":"and"},{"startTime":3003.826,"endTime":3007.979,"body":"on"},{"startTime":3007.979,"endTime":3012.132,"body":"purpose"},{"startTime":3012.132,"endTime":3016.285,"body":"I"},{"startTime":3016.285,"endTime":3020.438,"body":"asked"},{"startTime":3020.438,"endTime":3024.591,"body":"the"},{"startTime":3024.591,"endTime":3028.744,"body":"following"},{"startTime":3028.744,"endTime":3032.897,"body":"question."},{"startTime":3032.897,"endTime":3037.05,"body":"How"},{"startTime":3037.05,"endTime":3041.203,"body":"has"},{"startTime":3041.203,"endTime":3045.356,"body":"the"},{"startTime":3045.356,"endTime":3049.509,"body":"first"},{"startTime":3049.509,"endTime":3053.662,"body":"two"},{"startTime":3053.662,"endTime":3057.815,"body":"months"},{"startTime":3057.815,"endTime":3061.968,"body":"of"},{"startTime":3061.968,"endTime":3066.121,"body":"the"},{"startTime":3066.121,"endTime":3070.274,"body":"year"},{"startTime":3070.274,"endTime":3074.427,"body":"been"},{"startTime":3074.427,"endTime":3078.58,"body":"for"},{"startTime":3078.58,"endTime":3082.733,"body":"trend"},{"startTime":3082.733,"endTime":3086.886,"body":"following"},{"startTime":3086.886,"endTime":3091.039,"body":"of"},{"startTime":3091.039,"endTime":3095.192,"body":"all"},{"startTime":3095.192,"endTime":3099.345,"body":"things?"},{"startTime":3099.345,"endTime":3103.498,"body":"Because"},{"startTime":3103.498,"endTime":3107.651,"body":"I"},{"startTime":3107.651,"endTime":3111.804,"body":"know"},{"startTime":3111.804,"endTime":3115.957,"body":"the"},{"startTime":3115.957,"endTime":3120.11,"body":"answer."},{"startTime":3120.11,"endTime":3124.263,"body":"And"},{"startTime":3124.263,"endTime":3128.416,"body":"I"},{"startTime":3128.416,"endTime":3132.569,"body":"know"},{"startTime":3132.569,"endTime":3136.722,"body":"that"},{"startTime":3136.722,"endTime":3140.875,"body":"January"},{"startTime":3140.875,"endTime":3145.028,"body":"and"},{"startTime":3145.028,"endTime":3149.181,"body":"February"},{"startTime":3149.181,"endTime":3153.334,"body":"were"},{"startTime":3153.334,"endTime":3157.487,"body":"probably"},{"startTime":3157.487,"endTime":3161.64,"body":"one"},{"startTime":3161.64,"endTime":3165.793,"body":"of"},{"startTime":3165.793,"endTime":3169.946,"body":"the"},{"startTime":3169.946,"endTime":3174.099,"body":"best"},{"startTime":3174.099,"endTime":3178.252,"body":"two-month"},{"startTime":3178.252,"endTime":3182.405,"body":"periods"},{"startTime":3182.405,"endTime":3186.558,"body":"to"},{"startTime":3186.558,"endTime":3190.711,"body":"start"},{"startTime":3190.711,"endTime":3194.864,"body":"a"},{"startTime":3194.864,"endTime":3199.017,"body":"year"},{"startTime":3199.017,"endTime":3203.17,"body":"for"},{"startTime":3203.17,"endTime":3207.323,"body":"trend"},{"startTime":3207.323,"endTime":3211.476,"body":"followers."},{"startTime":3211.476,"endTime":3215.629,"body":"Right?"},{"startTime":2929.072,"endTime":2937.756,"body":"\rAndthe"},{"startTime":2937.756,"endTime":2942.098,"body":"first"},{"startTime":2942.098,"endTime":2946.44,"body":"sentence"},{"startTime":2946.44,"endTime":2950.782,"body":"that"},{"startTime":2950.782,"endTime":2955.124,"body":"comes"},{"startTime":2955.124,"endTime":2959.466,"body":"out,"},{"startTime":2959.466,"endTime":2963.808,"body":"and"},{"startTime":2963.808,"endTime":2968.15,"body":"I"},{"startTime":2968.15,"endTime":2972.492,"body":"don't"},{"startTime":2972.492,"endTime":2976.834,"body":"even"},{"startTime":2976.834,"endTime":2981.176,"body":"care"},{"startTime":2981.176,"endTime":2985.518,"body":"about"},{"startTime":2985.518,"endTime":2989.86,"body":"what"},{"startTime":2989.86,"endTime":2994.202,"body":"followed,"},{"startTime":2994.202,"endTime":2998.544,"body":"was,"},{"startTime":2998.544,"endTime":3002.886,"body":"like,"},{"startTime":3002.886,"endTime":3007.228,"body":"“the"},{"startTime":3007.228,"endTime":3011.57,"body":"start"},{"startTime":3011.57,"endTime":3015.912,"body":"of"},{"startTime":3015.912,"endTime":3020.254,"body":"the"},{"startTime":3020.254,"endTime":3024.596,"body":"year"},{"startTime":3024.596,"endTime":3028.938,"body":"has"},{"startTime":3028.938,"endTime":3033.28,"body":"been"},{"startTime":3033.28,"endTime":3037.622,"body":"mixed”."},{"startTime":3037.622,"endTime":3041.964,"body":"And"},{"startTime":3041.964,"endTime":3046.306,"body":"I'm"},{"startTime":3046.306,"endTime":3050.648,"body":"like,"},{"startTime":3050.648,"endTime":3054.99,"body":"you're"},{"startTime":3054.99,"endTime":3059.332,"body":"so"},{"startTime":3059.332,"endTime":3063.674,"body":"wrong."},{"startTime":3063.674,"endTime":3068.016,"body":"So,"},{"startTime":3068.016,"endTime":3072.358,"body":"to"},{"startTime":3072.358,"endTime":3076.7,"body":"that"},{"startTime":3076.7,"endTime":3081.042,"body":"point"},{"startTime":3081.042,"endTime":3085.384,"body":"I"},{"startTime":3085.384,"endTime":3089.726,"body":"think"},{"startTime":3089.726,"endTime":3094.068,"body":"some"},{"startTime":3094.068,"endTime":3098.41,"body":"level"},{"startTime":3098.41,"endTime":3102.752,"body":"of"},{"startTime":3102.752,"endTime":3107.094,"body":"supervision"},{"startTime":3107.094,"endTime":3111.436,"body":"is"},{"startTime":3111.436,"endTime":3115.778,"body":"more"},{"startTime":3115.778,"endTime":3120.12,"body":"than"},{"startTime":3120.12,"endTime":3124.462,"body":"important"},{"startTime":3124.462,"endTime":3128.804,"body":"here."},{"startTime":3128.804,"endTime":3133.146,"body":"It's"},{"startTime":3133.146,"endTime":3137.488,"body":"actually"},{"startTime":3137.488,"endTime":3141.83,"body":"essential,"},{"startTime":3141.83,"endTime":3146.172,"body":"specifically"},{"startTime":3146.172,"endTime":3150.514,"body":"when"},{"startTime":3150.514,"endTime":3154.856,"body":"you"},{"startTime":3154.856,"endTime":3159.198,"body":"end"},{"startTime":3159.198,"endTime":3163.54,"body":"up"},{"startTime":3163.54,"endTime":3167.882,"body":"kind"},{"startTime":3167.882,"endTime":3172.224,"body":"of"},{"startTime":3172.224,"endTime":3176.566,"body":"managing"},{"startTime":3176.566,"endTime":3180.908,"body":"money"},{"startTime":3180.908,"endTime":3185.25,"body":"on"},{"startTime":3185.25,"endTime":3189.592,"body":"behalf"},{"startTime":3189.592,"endTime":3193.934,"body":"of"},{"startTime":3193.934,"endTime":3198.276,"body":"policyholders,"},{"startTime":3198.276,"endTime":3202.618,"body":"and"},{"startTime":3202.618,"endTime":3206.96,"body":"pensioners,"},{"startTime":3206.96,"endTime":3211.302,"body":"and"},{"startTime":3211.302,"endTime":3215.644,"body":"insurance."},{"startTime":3215.922,"endTime":3216.774,"body":"And"},{"startTime":3216.774,"endTime":3217.626,"body":"on"},{"startTime":3217.626,"endTime":3218.478,"body":"top"},{"startTime":3218.478,"endTime":3219.33,"body":"of"},{"startTime":3219.33,"endTime":3220.182,"body":"that,"},{"startTime":3220.182,"endTime":3221.034,"body":"actually,"},{"startTime":3221.034,"endTime":3221.886,"body":"I"},{"startTime":3221.886,"endTime":3222.738,"body":"think"},{"startTime":3222.738,"endTime":3223.59,"body":"that"},{"startTime":3223.59,"endTime":3224.442,"body":"the"},{"startTime":3224.442,"endTime":3225.294,"body":"value"},{"startTime":3225.294,"endTime":3226.146,"body":"of"},{"startTime":3226.146,"endTime":3226.998,"body":"what"},{"startTime":3226.998,"endTime":3227.85,"body":"our"},{"startTime":3227.85,"endTime":3228.702,"body":"esteemed"},{"startTime":3228.702,"endTime":3229.554,"body":"researchers"},{"startTime":3229.554,"endTime":3230.406,"body":"do"},{"startTime":3230.406,"endTime":3231.258,"body":"nowadays"},{"startTime":3231.258,"endTime":3232.11,"body":"is"},{"startTime":3232.11,"endTime":3232.962,"body":"actually"},{"startTime":3232.962,"endTime":3233.814,"body":"trying"},{"startTime":3233.814,"endTime":3234.666,"body":"to"},{"startTime":3234.666,"endTime":3235.518,"body":"keep"},{"startTime":3235.518,"endTime":3236.37,"body":"things"},{"startTime":3236.37,"endTime":3237.222,"body":"simpler."},{"startTime":3237.222,"endTime":3238.074,"body":"Meaning,"},{"startTime":3238.074,"endTime":3238.926,"body":"I"},{"startTime":3238.926,"endTime":3239.778,"body":"have"},{"startTime":3239.778,"endTime":3240.63,"body":"a"},{"startTime":3240.63,"endTime":3241.482,"body":"feeling,"},{"startTime":3241.482,"endTime":3242.334,"body":"without"},{"startTime":3242.334,"endTime":3243.186,"body":"being"},{"startTime":3243.186,"endTime":3244.038,"body":"an"},{"startTime":3244.038,"endTime":3244.89,"body":"AI"},{"startTime":3244.89,"endTime":3245.742,"body":"expert,"},{"startTime":3245.742,"endTime":3246.594,"body":"that"},{"startTime":3246.594,"endTime":3247.446,"body":"they"},{"startTime":3247.446,"endTime":3248.298,"body":"love"},{"startTime":3248.298,"endTime":3249.15,"body":"to"},{"startTime":3249.15,"endTime":3250.002,"body":"expand"},{"startTime":3250.002,"endTime":3250.854,"body":"on"},{"startTime":3250.854,"endTime":3251.706,"body":"things."},{"startTime":3251.706,"endTime":3252.558,"body":"That's"},{"startTime":3252.558,"endTime":3253.41,"body":"kind"},{"startTime":3253.41,"endTime":3254.262,"body":"of"},{"startTime":3254.262,"endTime":3255.114,"body":"what"},{"startTime":3255.114,"endTime":3255.966,"body":"they"},{"startTime":3255.966,"endTime":3256.818,"body":"do."},{"startTime":3256.818,"endTime":3257.67,"body":"They"},{"startTime":3257.67,"endTime":3258.522,"body":"find"},{"startTime":3258.522,"endTime":3259.374,"body":"sentences"},{"startTime":3259.374,"endTime":3260.226,"body":"and"},{"startTime":3260.226,"endTime":3261.078,"body":"words"},{"startTime":3261.078,"endTime":3261.93,"body":"and"},{"startTime":3261.93,"endTime":3262.782,"body":"all"},{"startTime":3262.782,"endTime":3263.634,"body":"of"},{"startTime":3263.634,"endTime":3264.486,"body":"that"},{"startTime":3264.486,"endTime":3265.338,"body":"stuff."},{"startTime":3215.922,"endTime":3217.718,"body":"\rButactually,"},{"startTime":3217.718,"endTime":3218.616,"body":"when"},{"startTime":3218.616,"endTime":3219.514,"body":"you"},{"startTime":3219.514,"endTime":3220.412,"body":"build"},{"startTime":3220.412,"endTime":3221.31,"body":"a"},{"startTime":3221.31,"endTime":3222.208,"body":"trend"},{"startTime":3222.208,"endTime":3223.106,"body":"following"},{"startTime":3223.106,"endTime":3224.004,"body":"system,"},{"startTime":3224.004,"endTime":3224.902,"body":"yeah"},{"startTime":3224.902,"endTime":3225.8,"body":"you"},{"startTime":3225.8,"endTime":3226.698,"body":"have"},{"startTime":3226.698,"endTime":3227.596,"body":"a"},{"startTime":3227.596,"endTime":3228.494,"body":"lot"},{"startTime":3228.494,"endTime":3229.392,"body":"of"},{"startTime":3229.392,"endTime":3230.29,"body":"options"},{"startTime":3230.29,"endTime":3231.188,"body":"but"},{"startTime":3231.188,"endTime":3232.086,"body":"actually"},{"startTime":3232.086,"endTime":3232.984,"body":"the"},{"startTime":3232.984,"endTime":3233.882,"body":"skill"},{"startTime":3233.882,"endTime":3234.78,"body":"and"},{"startTime":3234.78,"endTime":3235.678,"body":"the"},{"startTime":3235.678,"endTime":3236.576,"body":"experience"},{"startTime":3236.576,"endTime":3237.474,"body":"goes"},{"startTime":3237.474,"endTime":3238.372,"body":"towards"},{"startTime":3238.372,"endTime":3239.27,"body":"actually"},{"startTime":3239.27,"endTime":3240.168,"body":"stripping"},{"startTime":3240.168,"endTime":3241.066,"body":"things"},{"startTime":3241.066,"endTime":3241.964,"body":"down"},{"startTime":3241.964,"endTime":3242.862,"body":"so"},{"startTime":3242.862,"endTime":3243.76,"body":"you"},{"startTime":3243.76,"endTime":3244.658,"body":"get"},{"startTime":3244.658,"endTime":3245.556,"body":"the"},{"startTime":3245.556,"endTime":3246.454,"body":"cleanest"},{"startTime":3246.454,"endTime":3247.352,"body":"signal,"},{"startTime":3247.352,"endTime":3248.25,"body":"less"},{"startTime":3248.25,"endTime":3249.148,"body":"noise"},{"startTime":3249.148,"endTime":3250.046,"body":"and"},{"startTime":3250.046,"endTime":3250.944,"body":"I'm"},{"startTime":3250.944,"endTime":3251.842,"body":"not"},{"startTime":3251.842,"endTime":3252.74,"body":"so"},{"startTime":3252.74,"endTime":3253.638,"body":"sure"},{"startTime":3253.638,"endTime":3254.536,"body":"that"},{"startTime":3254.536,"endTime":3255.434,"body":"the"},{"startTime":3255.434,"endTime":3256.332,"body":"DNA"},{"startTime":3256.332,"endTime":3257.23,"body":"of"},{"startTime":3257.23,"endTime":3258.128,"body":"AI"},{"startTime":3258.128,"endTime":3259.026,"body":"may"},{"startTime":3259.026,"endTime":3259.924,"body":"not"},{"startTime":3259.924,"endTime":3260.822,"body":"actually"},{"startTime":3260.822,"endTime":3261.72,"body":"be"},{"startTime":3261.72,"endTime":3262.618,"body":"very"},{"startTime":3262.618,"endTime":3263.516,"body":"compatible"},{"startTime":3263.516,"endTime":3264.414,"body":"with"},{"startTime":3264.414,"endTime":3265.312,"body":"that."},{"startTime":3265.742,"endTime":3266.454,"body":"We"},{"startTime":3266.454,"endTime":3267.166,"body":"shall"},{"startTime":3267.166,"endTime":3267.878,"body":"see."},{"startTime":3267.878,"endTime":3268.59,"body":"I"},{"startTime":3268.59,"endTime":3269.302,"body":"think"},{"startTime":3269.302,"endTime":3270.014,"body":"the"},{"startTime":3270.014,"endTime":3270.726,"body":"amount"},{"startTime":3270.726,"endTime":3271.438,"body":"of"},{"startTime":3271.438,"endTime":3272.15,"body":"evolution"},{"startTime":3272.15,"endTime":3272.862,"body":"we've"},{"startTime":3272.862,"endTime":3273.574,"body":"seen,"},{"startTime":3273.574,"endTime":3274.286,"body":"in"},{"startTime":3274.286,"endTime":3274.998,"body":"the"},{"startTime":3274.998,"endTime":3275.71,"body":"last"},{"startTime":3275.71,"endTime":3276.422,"body":"few"},{"startTime":3276.422,"endTime":3277.134,"body":"months,"},{"startTime":3277.134,"endTime":3277.846,"body":"is"},{"startTime":3277.846,"endTime":3278.558,"body":"extraordinary."},{"startTime":3278.558,"endTime":3279.27,"body":"If"},{"startTime":3279.27,"endTime":3279.982,"body":"I"},{"startTime":3279.982,"endTime":3280.694,"body":"were"},{"startTime":3280.694,"endTime":3281.406,"body":"to"},{"startTime":3281.406,"endTime":3282.118,"body":"speak"},{"startTime":3282.118,"endTime":3282.83,"body":"about"},{"startTime":3282.83,"endTime":3283.542,"body":"my"},{"startTime":3283.542,"endTime":3284.254,"body":"personal"},{"startTime":3284.254,"endTime":3284.966,"body":"experience"},{"startTime":3284.966,"endTime":3285.678,"body":"and"},{"startTime":3285.678,"endTime":3286.39,"body":"how"},{"startTime":3286.39,"endTime":3287.102,"body":"I"},{"startTime":3287.102,"endTime":3287.814,"body":"use"},{"startTime":3287.814,"endTime":3288.526,"body":"it."},{"startTime":3288.526,"endTime":3289.238,"body":"It's"},{"startTime":3289.238,"endTime":3289.95,"body":"just,"},{"startTime":3289.95,"endTime":3290.662,"body":"for"},{"startTime":3290.662,"endTime":3291.374,"body":"the"},{"startTime":3291.374,"endTime":3292.086,"body":"same"},{"startTime":3292.086,"endTime":3292.798,"body":"task,"},{"startTime":3292.798,"endTime":3293.51,"body":"I"},{"startTime":3293.51,"endTime":3294.222,"body":"used"},{"startTime":3294.222,"endTime":3294.934,"body":"to"},{"startTime":3294.934,"endTime":3295.646,"body":"get"},{"startTime":3295.646,"endTime":3296.358,"body":"rubbish."},{"startTime":3296.358,"endTime":3297.07,"body":"I'm"},{"startTime":3297.07,"endTime":3297.782,"body":"getting"},{"startTime":3297.782,"endTime":3298.494,"body":"high"},{"startTime":3298.494,"endTime":3299.206,"body":"quality"},{"startTime":3299.206,"endTime":3299.918,"body":"outcome"},{"startTime":3299.918,"endTime":3300.63,"body":"now,"},{"startTime":3300.63,"endTime":3301.342,"body":"so"},{"startTime":3301.342,"endTime":3302.054,"body":"it's"},{"startTime":3302.054,"endTime":3302.766,"body":"quite"},{"startTime":3302.766,"endTime":3303.478,"body":"impressive."},{"startTime":3303.478,"endTime":3304.19,"body":"We"},{"startTime":3304.19,"endTime":3304.902,"body":"shall"},{"startTime":3304.902,"endTime":3305.614,"body":"see"},{"startTime":3305.614,"endTime":3306.326,"body":"where"},{"startTime":3306.326,"endTime":3307.038,"body":"time"},{"startTime":3307.038,"endTime":3307.75,"body":"goes."},{"startTime":3265.742,"endTime":3267.216,"body":"\rButI"},{"startTime":3267.216,"endTime":3267.953,"body":"found"},{"startTime":3267.953,"endTime":3268.69,"body":"it"},{"startTime":3268.69,"endTime":3269.427,"body":"very"},{"startTime":3269.427,"endTime":3270.164,"body":"interesting"},{"startTime":3270.164,"endTime":3270.901,"body":"that"},{"startTime":3270.901,"endTime":3271.638,"body":"they"},{"startTime":3271.638,"endTime":3272.375,"body":"actually"},{"startTime":3272.375,"endTime":3273.112,"body":"ended"},{"startTime":3273.112,"endTime":3273.849,"body":"up"},{"startTime":3273.849,"endTime":3274.586,"body":"kind"},{"startTime":3274.586,"endTime":3275.323,"body":"of"},{"startTime":3275.323,"endTime":3276.06,"body":"writing"},{"startTime":3276.06,"endTime":3276.797,"body":"actually"},{"startTime":3276.797,"endTime":3277.534,"body":"the"},{"startTime":3277.534,"endTime":3278.271,"body":"second"},{"startTime":3278.271,"endTime":3279.008,"body":"report"},{"startTime":3279.008,"endTime":3279.745,"body":"on"},{"startTime":3279.745,"endTime":3280.482,"body":"how"},{"startTime":3280.482,"endTime":3281.219,"body":"they"},{"startTime":3281.219,"endTime":3281.956,"body":"use"},{"startTime":3281.956,"endTime":3282.693,"body":"AI"},{"startTime":3282.693,"endTime":3283.43,"body":"for"},{"startTime":3283.43,"endTime":3284.167,"body":"research"},{"startTime":3284.167,"endTime":3284.904,"body":"purposes."},{"startTime":3284.904,"endTime":3285.641,"body":"And"},{"startTime":3285.641,"endTime":3286.378,"body":"obviously"},{"startTime":3286.378,"endTime":3287.115,"body":"kudos"},{"startTime":3287.115,"endTime":3287.852,"body":"to"},{"startTime":3287.852,"endTime":3288.589,"body":"them,"},{"startTime":3288.589,"endTime":3289.326,"body":"I"},{"startTime":3289.326,"endTime":3290.063,"body":"guess,"},{"startTime":3290.063,"endTime":3290.8,"body":"opening"},{"startTime":3290.8,"endTime":3291.537,"body":"up"},{"startTime":3291.537,"endTime":3292.274,"body":"and"},{"startTime":3292.274,"endTime":3293.011,"body":"making"},{"startTime":3293.011,"endTime":3293.748,"body":"that"},{"startTime":3293.748,"endTime":3294.485,"body":"a"},{"startTime":3294.485,"endTime":3295.222,"body":"topic"},{"startTime":3295.222,"endTime":3295.959,"body":"of"},{"startTime":3295.959,"endTime":3296.696,"body":"discussion"},{"startTime":3296.696,"endTime":3297.433,"body":"rather"},{"startTime":3297.433,"endTime":3298.17,"body":"than"},{"startTime":3298.17,"endTime":3298.907,"body":"saying"},{"startTime":3298.907,"endTime":3299.644,"body":"oh"},{"startTime":3299.644,"endTime":3300.381,"body":"we"},{"startTime":3300.381,"endTime":3301.118,"body":"use"},{"startTime":3301.118,"endTime":3301.855,"body":"this"},{"startTime":3301.855,"endTime":3302.592,"body":"model,"},{"startTime":3302.592,"endTime":3303.329,"body":"here's"},{"startTime":3303.329,"endTime":3304.066,"body":"the"},{"startTime":3304.066,"endTime":3304.803,"body":"line,"},{"startTime":3304.803,"endTime":3305.54,"body":"go"},{"startTime":3305.54,"endTime":3306.277,"body":"trade"},{"startTime":3306.277,"endTime":3307.014,"body":"with"},{"startTime":3307.014,"endTime":3307.751,"body":"it."},{"startTime":3308.352,"endTime":3308.939,"body":"Let's"},{"startTime":3308.939,"endTime":3309.526,"body":"make"},{"startTime":3309.526,"endTime":3310.113,"body":"it"},{"startTime":3310.113,"endTime":3310.7,"body":"three"},{"startTime":3310.7,"endTime":3311.287,"body":"for"},{"startTime":3311.287,"endTime":3311.874,"body":"three,"},{"startTime":3311.874,"endTime":3312.461,"body":"Nick,"},{"startTime":3312.461,"endTime":3313.048,"body":"because"},{"startTime":3313.048,"endTime":3313.635,"body":"you"},{"startTime":3313.635,"endTime":3314.222,"body":"identified"},{"startTime":3314.222,"endTime":3314.809,"body":"a"},{"startTime":3314.809,"endTime":3315.396,"body":"third"},{"startTime":3315.396,"endTime":3315.983,"body":"Man"},{"startTime":3315.983,"endTime":3316.57,"body":"paper;"},{"startTime":3316.57,"endTime":3317.157,"body":"The"},{"startTime":3317.157,"endTime":3317.744,"body":"Quant"},{"startTime":3317.744,"endTime":3318.331,"body":"Renaissance."},{"startTime":3318.331,"endTime":3318.918,"body":"Talk"},{"startTime":3318.918,"endTime":3319.505,"body":"to"},{"startTime":3319.505,"endTime":3320.092,"body":"us"},{"startTime":3320.092,"endTime":3320.679,"body":"about"},{"startTime":3320.679,"endTime":3321.266,"body":"this"},{"startTime":3321.266,"endTime":3321.853,"body":"paper"},{"startTime":3321.853,"endTime":3322.44,"body":"and"},{"startTime":3322.44,"endTime":3323.027,"body":"why"},{"startTime":3323.027,"endTime":3323.614,"body":"it"},{"startTime":3323.614,"endTime":3324.201,"body":"caught"},{"startTime":3324.201,"endTime":3324.788,"body":"your"},{"startTime":3324.788,"endTime":3325.375,"body":"attention."},{"startTime":3325.952,"endTime":3418.322,"body":"Exactly"},{"startTime":3418.322,"endTime":3510.692,"body":"three"},{"startTime":3510.692,"endTime":3603.062,"body":"for"},{"startTime":3603.062,"endTime":3695.432,"body":"three."},{"startTime":3325.952,"endTime":3338.692,"body":"\rNowthis"},{"startTime":3338.692,"endTime":3345.062,"body":"is"},{"startTime":3345.062,"endTime":3351.432,"body":"now"},{"startTime":3351.432,"endTime":3357.802,"body":"shifting"},{"startTime":3357.802,"endTime":3364.172,"body":"gears"},{"startTime":3364.172,"endTime":3370.542,"body":"away"},{"startTime":3370.542,"endTime":3376.912,"body":"from"},{"startTime":3376.912,"endTime":3383.282,"body":"trend"},{"startTime":3383.282,"endTime":3389.652,"body":"following."},{"startTime":3389.652,"endTime":3396.022,"body":"So,"},{"startTime":3396.022,"endTime":3402.392,"body":"this"},{"startTime":3402.392,"endTime":3408.762,"body":"is"},{"startTime":3408.762,"endTime":3415.132,"body":"about"},{"startTime":3415.132,"endTime":3421.502,"body":"quant"},{"startTime":3421.502,"endTime":3427.872,"body":"equity."},{"startTime":3427.872,"endTime":3434.242,"body":"So"},{"startTime":3434.242,"endTime":3440.612,"body":"that's"},{"startTime":3440.612,"endTime":3446.982,"body":"from"},{"startTime":3446.982,"endTime":3453.352,"body":"the"},{"startTime":3453.352,"endTime":3459.722,"body":"numeric"},{"startTime":3459.722,"endTime":3466.092,"body":"crowd"},{"startTime":3466.092,"endTime":3472.462,"body":"at"},{"startTime":3472.462,"endTime":3478.832,"body":"Man."},{"startTime":3478.832,"endTime":3485.202,"body":"So,"},{"startTime":3485.202,"endTime":3491.572,"body":"I'm"},{"startTime":3491.572,"endTime":3497.942,"body":"spending"},{"startTime":3497.942,"endTime":3504.312,"body":"a"},{"startTime":3504.312,"endTime":3510.682,"body":"good"},{"startTime":3510.682,"endTime":3517.052,"body":"amount"},{"startTime":3517.052,"endTime":3523.422,"body":"of"},{"startTime":3523.422,"endTime":3529.792,"body":"my"},{"startTime":3529.792,"endTime":3536.162,"body":"time"},{"startTime":3536.162,"endTime":3542.532,"body":"with"},{"startTime":3542.532,"endTime":3548.902,"body":"our"},{"startTime":3548.902,"endTime":3555.272,"body":"equities,"},{"startTime":3555.272,"endTime":3561.642,"body":"kind"},{"startTime":3561.642,"endTime":3568.012,"body":"of"},{"startTime":3568.012,"endTime":3574.382,"body":"single"},{"startTime":3574.382,"endTime":3580.752,"body":"equities"},{"startTime":3580.752,"endTime":3587.122,"body":"strategies."},{"startTime":3587.122,"endTime":3593.492,"body":"It's"},{"startTime":3593.492,"endTime":3599.862,"body":"a"},{"startTime":3599.862,"endTime":3606.232,"body":"very"},{"startTime":3606.232,"endTime":3612.602,"body":"interesting"},{"startTime":3612.602,"endTime":3618.972,"body":"space"},{"startTime":3618.972,"endTime":3625.342,"body":"because"},{"startTime":3625.342,"endTime":3631.712,"body":"it's"},{"startTime":3631.712,"endTime":3638.082,"body":"maybe"},{"startTime":3638.082,"endTime":3644.452,"body":"one"},{"startTime":3644.452,"endTime":3650.822,"body":"of"},{"startTime":3650.822,"endTime":3657.192,"body":"the"},{"startTime":3657.192,"endTime":3663.562,"body":"places"},{"startTime":3663.562,"endTime":3669.932,"body":"that"},{"startTime":3669.932,"endTime":3676.302,"body":"systematic"},{"startTime":3676.302,"endTime":3682.672,"body":"invested"},{"startTime":3682.672,"endTime":3689.042,"body":"started"},{"startTime":3689.042,"endTime":3695.412,"body":"from."},{"startTime":3325.952,"endTime":3337.148,"body":"\rObviously,trend"},{"startTime":3337.148,"endTime":3342.746,"body":"following"},{"startTime":3342.746,"endTime":3348.344,"body":"is"},{"startTime":3348.344,"endTime":3353.942,"body":"probably"},{"startTime":3353.942,"endTime":3359.54,"body":"the"},{"startTime":3359.54,"endTime":3365.138,"body":"longest"},{"startTime":3365.138,"endTime":3370.736,"body":"living"},{"startTime":3370.736,"endTime":3376.334,"body":"from"},{"startTime":3376.334,"endTime":3381.932,"body":"the"},{"startTime":3381.932,"endTime":3387.53,"body":"70s."},{"startTime":3387.53,"endTime":3393.128,"body":"But"},{"startTime":3393.128,"endTime":3398.726,"body":"if"},{"startTime":3398.726,"endTime":3404.324,"body":"I"},{"startTime":3404.324,"endTime":3409.922,"body":"were"},{"startTime":3409.922,"endTime":3415.52,"body":"to"},{"startTime":3415.52,"endTime":3421.118,"body":"pick"},{"startTime":3421.118,"endTime":3426.716,"body":"what"},{"startTime":3426.716,"endTime":3432.314,"body":"the"},{"startTime":3432.314,"endTime":3437.912,"body":"second"},{"startTime":3437.912,"endTime":3443.51,"body":"one"},{"startTime":3443.51,"endTime":3449.108,"body":"is,"},{"startTime":3449.108,"endTime":3454.706,"body":"probably"},{"startTime":3454.706,"endTime":3460.304,"body":"equity"},{"startTime":3460.304,"endTime":3465.902,"body":"factors"},{"startTime":3465.902,"endTime":3471.5,"body":"is"},{"startTime":3471.5,"endTime":3477.098,"body":"the"},{"startTime":3477.098,"endTime":3482.696,"body":"second"},{"startTime":3482.696,"endTime":3488.294,"body":"one"},{"startTime":3488.294,"endTime":3493.892,"body":"to"},{"startTime":3493.892,"endTime":3499.49,"body":"come,"},{"startTime":3499.49,"endTime":3505.088,"body":"and"},{"startTime":3505.088,"endTime":3510.686,"body":"it"},{"startTime":3510.686,"endTime":3516.284,"body":"could"},{"startTime":3516.284,"endTime":3521.882,"body":"have"},{"startTime":3521.882,"endTime":3527.48,"body":"equally"},{"startTime":3527.48,"endTime":3533.078,"body":"been"},{"startTime":3533.078,"endTime":3538.676,"body":"an"},{"startTime":3538.676,"endTime":3544.274,"body":"‘80s"},{"startTime":3544.274,"endTime":3549.872,"body":"or"},{"startTime":3549.872,"endTime":3555.47,"body":"a"},{"startTime":3555.47,"endTime":3561.068,"body":"‘90s"},{"startTime":3561.068,"endTime":3566.666,"body":"gig,"},{"startTime":3566.666,"endTime":3572.264,"body":"you"},{"startTime":3572.264,"endTime":3577.862,"body":"know"},{"startTime":3577.862,"endTime":3583.46,"body":"when"},{"startTime":3583.46,"endTime":3589.058,"body":"Palmer"},{"startTime":3589.058,"endTime":3594.656,"body":"and"},{"startTime":3594.656,"endTime":3600.254,"body":"friends"},{"startTime":3600.254,"endTime":3605.852,"body":"came"},{"startTime":3605.852,"endTime":3611.45,"body":"about,"},{"startTime":3611.45,"endTime":3617.048,"body":"kind"},{"startTime":3617.048,"endTime":3622.646,"body":"of"},{"startTime":3622.646,"endTime":3628.244,"body":"the"},{"startTime":3628.244,"endTime":3633.842,"body":"whole"},{"startTime":3633.842,"endTime":3639.44,"body":"factor"},{"startTime":3639.44,"endTime":3645.038,"body":"and"},{"startTime":3645.038,"endTime":3650.636,"body":"then"},{"startTime":3650.636,"endTime":3656.234,"body":"obviously,"},{"startTime":3656.234,"endTime":3661.832,"body":"who"},{"startTime":3661.832,"endTime":3667.43,"body":"was"},{"startTime":3667.43,"endTime":3673.028,"body":"it,"},{"startTime":3673.028,"endTime":3678.626,"body":"Steve"},{"startTime":3678.626,"endTime":3684.224,"body":"Ross"},{"startTime":3684.224,"endTime":3689.822,"body":"with"},{"startTime":3689.822,"endTime":3695.42,"body":"APT."},{"startTime":3325.952,"endTime":3338.066,"body":"\rSo,this"},{"startTime":3338.066,"endTime":3344.123,"body":"space"},{"startTime":3344.123,"endTime":3350.18,"body":"of"},{"startTime":3350.18,"endTime":3356.237,"body":"equity"},{"startTime":3356.237,"endTime":3362.294,"body":"factors,"},{"startTime":3362.294,"endTime":3368.351,"body":"driving"},{"startTime":3368.351,"endTime":3374.408,"body":"returns"},{"startTime":3374.408,"endTime":3380.465,"body":"and"},{"startTime":3380.465,"endTime":3386.522,"body":"therefore"},{"startTime":3386.522,"endTime":3392.579,"body":"being"},{"startTime":3392.579,"endTime":3398.636,"body":"rewarded"},{"startTime":3398.636,"endTime":3404.693,"body":"for"},{"startTime":3404.693,"endTime":3410.75,"body":"a"},{"startTime":3410.75,"endTime":3416.807,"body":"specific"},{"startTime":3416.807,"endTime":3422.864,"body":"risk"},{"startTime":3422.864,"endTime":3428.921,"body":"exposure,"},{"startTime":3428.921,"endTime":3434.978,"body":"could"},{"startTime":3434.978,"endTime":3441.035,"body":"have"},{"startTime":3441.035,"endTime":3447.092,"body":"been"},{"startTime":3447.092,"endTime":3453.149,"body":"an"},{"startTime":3453.149,"endTime":3459.206,"body":"investment"},{"startTime":3459.206,"endTime":3465.263,"body":"mantra"},{"startTime":3465.263,"endTime":3471.32,"body":"back"},{"startTime":3471.32,"endTime":3477.377,"body":"in"},{"startTime":3477.377,"endTime":3483.434,"body":"the"},{"startTime":3483.434,"endTime":3489.491,"body":"‘90s."},{"startTime":3489.491,"endTime":3495.548,"body":"But"},{"startTime":3495.548,"endTime":3501.605,"body":"it"},{"startTime":3501.605,"endTime":3507.662,"body":"only"},{"startTime":3507.662,"endTime":3513.719,"body":"became"},{"startTime":3513.719,"endTime":3519.776,"body":"much"},{"startTime":3519.776,"endTime":3525.833,"body":"more"},{"startTime":3525.833,"endTime":3531.89,"body":"popularized"},{"startTime":3531.89,"endTime":3537.947,"body":"when"},{"startTime":3537.947,"endTime":3544.004,"body":"we"},{"startTime":3544.004,"endTime":3550.061,"body":"had"},{"startTime":3550.061,"endTime":3556.118,"body":"high"},{"startTime":3556.118,"endTime":3562.175,"body":"performance"},{"startTime":3562.175,"endTime":3568.232,"body":"computers"},{"startTime":3568.232,"endTime":3574.289,"body":"to"},{"startTime":3574.289,"endTime":3580.346,"body":"churn"},{"startTime":3580.346,"endTime":3586.403,"body":"all"},{"startTime":3586.403,"endTime":3592.46,"body":"this"},{"startTime":3592.46,"endTime":3598.517,"body":"data,"},{"startTime":3598.517,"endTime":3604.574,"body":"and"},{"startTime":3604.574,"endTime":3610.631,"body":"the"},{"startTime":3610.631,"endTime":3616.688,"body":"cross"},{"startTime":3616.688,"endTime":3622.745,"body":"section"},{"startTime":3622.745,"endTime":3628.802,"body":"of"},{"startTime":3628.802,"endTime":3634.859,"body":"stocks,"},{"startTime":3634.859,"endTime":3640.916,"body":"and"},{"startTime":3640.916,"endTime":3646.973,"body":"trade,"},{"startTime":3646.973,"endTime":3653.03,"body":"corporate"},{"startTime":3653.03,"endTime":3659.087,"body":"actions,"},{"startTime":3659.087,"endTime":3665.144,"body":"and"},{"startTime":3665.144,"endTime":3671.201,"body":"so"},{"startTime":3671.201,"endTime":3677.258,"body":"on,"},{"startTime":3677.258,"endTime":3683.315,"body":"and"},{"startTime":3683.315,"endTime":3689.372,"body":"so"},{"startTime":3689.372,"endTime":3695.429,"body":"forth."},{"startTime":3325.952,"endTime":3343.546,"body":"\rSo,that"},{"startTime":3343.546,"endTime":3352.343,"body":"space"},{"startTime":3352.343,"endTime":3361.14,"body":"obviously"},{"startTime":3361.14,"endTime":3369.937,"body":"became"},{"startTime":3369.937,"endTime":3378.734,"body":"very,"},{"startTime":3378.734,"endTime":3387.531,"body":"very"},{"startTime":3387.531,"endTime":3396.328,"body":"popular."},{"startTime":3396.328,"endTime":3405.125,"body":"And"},{"startTime":3405.125,"endTime":3413.922,"body":"then"},{"startTime":3413.922,"endTime":3422.719,"body":"coming"},{"startTime":3422.719,"endTime":3431.516,"body":"2018"},{"startTime":3431.516,"endTime":3440.313,"body":"to"},{"startTime":3440.313,"endTime":3449.11,"body":"2020"},{"startTime":3449.11,"endTime":3457.907,"body":"it"},{"startTime":3457.907,"endTime":3466.704,"body":"suffered"},{"startTime":3466.704,"endTime":3475.501,"body":"from"},{"startTime":3475.501,"endTime":3484.298,"body":"this"},{"startTime":3484.298,"endTime":3493.095,"body":"kind"},{"startTime":3493.095,"endTime":3501.892,"body":"of"},{"startTime":3501.892,"endTime":3510.689,"body":"quant"},{"startTime":3510.689,"endTime":3519.486,"body":"winter"},{"startTime":3519.486,"endTime":3528.283,"body":"that"},{"startTime":3528.283,"endTime":3537.08,"body":"had"},{"startTime":3537.08,"endTime":3545.877,"body":"significant"},{"startTime":3545.877,"endTime":3554.674,"body":"consequences"},{"startTime":3554.674,"endTime":3563.471,"body":"also"},{"startTime":3563.471,"endTime":3572.268,"body":"for"},{"startTime":3572.268,"endTime":3581.065,"body":"the"},{"startTime":3581.065,"endTime":3589.862,"body":"buy"},{"startTime":3589.862,"endTime":3598.659,"body":"side,"},{"startTime":3598.659,"endTime":3607.456,"body":"managing"},{"startTime":3607.456,"endTime":3616.253,"body":"those"},{"startTime":3616.253,"endTime":3625.05,"body":"strategies."},{"startTime":3625.05,"endTime":3633.847,"body":"Now,"},{"startTime":3633.847,"endTime":3642.644,"body":"lo"},{"startTime":3642.644,"endTime":3651.441,"body":"and"},{"startTime":3651.441,"endTime":3660.238,"body":"behold,"},{"startTime":3660.238,"endTime":3669.035,"body":"post"},{"startTime":3669.035,"endTime":3677.832,"body":"COVID,"},{"startTime":3677.832,"endTime":3686.629,"body":"significant"},{"startTime":3686.629,"endTime":3695.426,"body":"resurrection."},{"startTime":3325.952,"endTime":3338.066,"body":"\rSo,the"},{"startTime":3338.066,"endTime":3344.123,"body":"multi"},{"startTime":3344.123,"endTime":3350.18,"body":"strat,"},{"startTime":3350.18,"endTime":3356.237,"body":"the"},{"startTime":3356.237,"endTime":3362.294,"body":"quant"},{"startTime":3362.294,"endTime":3368.351,"body":"equity,"},{"startTime":3368.351,"endTime":3374.408,"body":"the"},{"startTime":3374.408,"endTime":3380.465,"body":"long/short"},{"startTime":3380.465,"endTime":3386.522,"body":"space,"},{"startTime":3386.522,"endTime":3392.579,"body":"has"},{"startTime":3392.579,"endTime":3398.636,"body":"had"},{"startTime":3398.636,"endTime":3404.693,"body":"very"},{"startTime":3404.693,"endTime":3410.75,"body":"strong"},{"startTime":3410.75,"endTime":3416.807,"body":"performance."},{"startTime":3416.807,"endTime":3422.864,"body":"And"},{"startTime":3422.864,"endTime":3428.921,"body":"what"},{"startTime":3428.921,"endTime":3434.978,"body":"this"},{"startTime":3434.978,"endTime":3441.035,"body":"report"},{"startTime":3441.035,"endTime":3447.092,"body":"tries"},{"startTime":3447.092,"endTime":3453.149,"body":"to"},{"startTime":3453.149,"endTime":3459.206,"body":"bring"},{"startTime":3459.206,"endTime":3465.263,"body":"into,"},{"startTime":3465.263,"endTime":3471.32,"body":"I"},{"startTime":3471.32,"endTime":3477.377,"body":"guess,"},{"startTime":3477.377,"endTime":3483.434,"body":"the"},{"startTime":3483.434,"endTime":3489.491,"body":"discussion"},{"startTime":3489.491,"endTime":3495.548,"body":"is"},{"startTime":3495.548,"endTime":3501.605,"body":"how"},{"startTime":3501.605,"endTime":3507.662,"body":"much"},{"startTime":3507.662,"endTime":3513.719,"body":"of"},{"startTime":3513.719,"endTime":3519.776,"body":"a"},{"startTime":3519.776,"endTime":3525.833,"body":"risk"},{"startTime":3525.833,"endTime":3531.89,"body":"we"},{"startTime":3531.89,"endTime":3537.947,"body":"have"},{"startTime":3537.947,"endTime":3544.004,"body":"of"},{"startTime":3544.004,"endTime":3550.061,"body":"a"},{"startTime":3550.061,"endTime":3556.118,"body":"repeat"},{"startTime":3556.118,"endTime":3562.175,"body":"of"},{"startTime":3562.175,"endTime":3568.232,"body":"a"},{"startTime":3568.232,"endTime":3574.289,"body":"winter,"},{"startTime":3574.289,"endTime":3580.346,"body":"but"},{"startTime":3580.346,"endTime":3586.403,"body":"also"},{"startTime":3586.403,"endTime":3592.46,"body":"maybe"},{"startTime":3592.46,"endTime":3598.517,"body":"how"},{"startTime":3598.517,"endTime":3604.574,"body":"more"},{"startTime":3604.574,"endTime":3610.631,"body":"resilient"},{"startTime":3610.631,"endTime":3616.688,"body":"the"},{"startTime":3616.688,"endTime":3622.745,"body":"space,"},{"startTime":3622.745,"endTime":3628.802,"body":"from"},{"startTime":3628.802,"endTime":3634.859,"body":"a"},{"startTime":3634.859,"endTime":3640.916,"body":"research,"},{"startTime":3640.916,"endTime":3646.973,"body":"product,"},{"startTime":3646.973,"endTime":3653.03,"body":"and"},{"startTime":3653.03,"endTime":3659.087,"body":"investment"},{"startTime":3659.087,"endTime":3665.144,"body":"management,"},{"startTime":3665.144,"endTime":3671.201,"body":"has"},{"startTime":3671.201,"endTime":3677.258,"body":"evolved"},{"startTime":3677.258,"endTime":3683.315,"body":"over"},{"startTime":3683.315,"endTime":3689.372,"body":"the"},{"startTime":3689.372,"endTime":3695.429,"body":"years."},{"startTime":3325.952,"endTime":3334.072,"body":"\rSowhy"},{"startTime":3334.072,"endTime":3338.132,"body":"did"},{"startTime":3338.132,"endTime":3342.192,"body":"we"},{"startTime":3342.192,"endTime":3346.252,"body":"have"},{"startTime":3346.252,"endTime":3350.312,"body":"the"},{"startTime":3350.312,"endTime":3354.372,"body":"winter"},{"startTime":3354.372,"endTime":3358.432,"body":"back"},{"startTime":3358.432,"endTime":3362.492,"body":"in"},{"startTime":3362.492,"endTime":3366.552,"body":"the"},{"startTime":3366.552,"endTime":3370.612,"body":"days?"},{"startTime":3370.612,"endTime":3374.672,"body":"Frankly,"},{"startTime":3374.672,"endTime":3378.732,"body":"there"},{"startTime":3378.732,"endTime":3382.792,"body":"are"},{"startTime":3382.792,"endTime":3386.852,"body":"two"},{"startTime":3386.852,"endTime":3390.912,"body":"reasons"},{"startTime":3390.912,"endTime":3394.972,"body":"they"},{"startTime":3394.972,"endTime":3399.032,"body":"bring"},{"startTime":3399.032,"endTime":3403.092,"body":"about."},{"startTime":3403.092,"endTime":3407.152,"body":"I"},{"startTime":3407.152,"endTime":3411.212,"body":"would"},{"startTime":3411.212,"endTime":3415.272,"body":"possibly"},{"startTime":3415.272,"endTime":3419.332,"body":"just"},{"startTime":3419.332,"endTime":3423.392,"body":"agree"},{"startTime":3423.392,"endTime":3427.452,"body":"without"},{"startTime":3427.452,"endTime":3431.512,"body":"having"},{"startTime":3431.512,"endTime":3435.572,"body":"seen"},{"startTime":3435.572,"endTime":3439.632,"body":"them."},{"startTime":3439.632,"endTime":3443.692,"body":"One"},{"startTime":3443.692,"endTime":3447.752,"body":"was"},{"startTime":3447.752,"endTime":3451.812,"body":"that"},{"startTime":3451.812,"endTime":3455.872,"body":"the"},{"startTime":3455.872,"endTime":3459.932,"body":"macro"},{"startTime":3459.932,"endTime":3463.992,"body":"regime"},{"startTime":3463.992,"endTime":3468.052,"body":"was"},{"startTime":3468.052,"endTime":3472.112,"body":"not"},{"startTime":3472.112,"endTime":3476.172,"body":"very"},{"startTime":3476.172,"endTime":3480.232,"body":"accommodative"},{"startTime":3480.232,"endTime":3484.292,"body":"for"},{"startTime":3484.292,"endTime":3488.352,"body":"some"},{"startTime":3488.352,"endTime":3492.412,"body":"of"},{"startTime":3492.412,"endTime":3496.472,"body":"the"},{"startTime":3496.472,"endTime":3500.532,"body":"factors."},{"startTime":3500.532,"endTime":3504.592,"body":"Obviously,"},{"startTime":3504.592,"endTime":3508.652,"body":"with"},{"startTime":3508.652,"endTime":3512.712,"body":"the"},{"startTime":3512.712,"endTime":3516.772,"body":"interest"},{"startTime":3516.772,"endTime":3520.832,"body":"rate"},{"startTime":3520.832,"endTime":3524.892,"body":"markets"},{"startTime":3524.892,"endTime":3528.952,"body":"operating"},{"startTime":3528.952,"endTime":3533.012,"body":"as"},{"startTime":3533.012,"endTime":3537.072,"body":"they"},{"startTime":3537.072,"endTime":3541.132,"body":"did"},{"startTime":3541.132,"endTime":3545.192,"body":"back"},{"startTime":3545.192,"endTime":3549.252,"body":"in"},{"startTime":3549.252,"endTime":3553.312,"body":"the"},{"startTime":3553.312,"endTime":3557.372,"body":"late"},{"startTime":3557.372,"endTime":3561.432,"body":"part"},{"startTime":3561.432,"endTime":3565.492,"body":"of"},{"startTime":3565.492,"endTime":3569.552,"body":"2010s,"},{"startTime":3569.552,"endTime":3573.612,"body":"value"},{"startTime":3573.612,"endTime":3577.672,"body":"was"},{"startTime":3577.672,"endTime":3581.732,"body":"certainly"},{"startTime":3581.732,"endTime":3585.792,"body":"impacted"},{"startTime":3585.792,"endTime":3589.852,"body":"quite"},{"startTime":3589.852,"endTime":3593.912,"body":"significantly."},{"startTime":3593.912,"endTime":3597.972,"body":"Then"},{"startTime":3597.972,"endTime":3602.032,"body":"you"},{"startTime":3602.032,"endTime":3606.092,"body":"had"},{"startTime":3606.092,"endTime":3610.152,"body":"some"},{"startTime":3610.152,"endTime":3614.212,"body":"reversions"},{"startTime":3614.212,"endTime":3618.272,"body":"and"},{"startTime":3618.272,"endTime":3622.332,"body":"the"},{"startTime":3622.332,"endTime":3626.392,"body":"momentum"},{"startTime":3626.392,"endTime":3630.452,"body":"did"},{"startTime":3630.452,"endTime":3634.512,"body":"not"},{"startTime":3634.512,"endTime":3638.572,"body":"play"},{"startTime":3638.572,"endTime":3642.632,"body":"out"},{"startTime":3642.632,"endTime":3646.692,"body":"well."},{"startTime":3646.692,"endTime":3650.752,"body":"And"},{"startTime":3650.752,"endTime":3654.812,"body":"the"},{"startTime":3654.812,"endTime":3658.872,"body":"overall"},{"startTime":3658.872,"endTime":3662.932,"body":"complex"},{"startTime":3662.932,"endTime":3666.992,"body":"was"},{"startTime":3666.992,"endTime":3671.052,"body":"just"},{"startTime":3671.052,"endTime":3675.112,"body":"not"},{"startTime":3675.112,"endTime":3679.172,"body":"accommodative"},{"startTime":3679.172,"endTime":3683.232,"body":"of"},{"startTime":3683.232,"endTime":3687.292,"body":"the"},{"startTime":3687.292,"endTime":3691.352,"body":"macro"},{"startTime":3691.352,"endTime":3695.412,"body":"environment."},{"startTime":3325.952,"endTime":3336.358,"body":"\rThesecond"},{"startTime":3336.358,"endTime":3341.561,"body":"one"},{"startTime":3341.561,"endTime":3346.764,"body":"is"},{"startTime":3346.764,"endTime":3351.967,"body":"possibly"},{"startTime":3351.967,"endTime":3357.17,"body":"some"},{"startTime":3357.17,"endTime":3362.373,"body":"factor"},{"startTime":3362.373,"endTime":3367.576,"body":"crowding."},{"startTime":3367.576,"endTime":3372.779,"body":"So,"},{"startTime":3372.779,"endTime":3377.982,"body":"the"},{"startTime":3377.982,"endTime":3383.185,"body":"theme"},{"startTime":3383.185,"endTime":3388.388,"body":"became"},{"startTime":3388.388,"endTime":3393.591,"body":"quickly"},{"startTime":3393.591,"endTime":3398.794,"body":"too"},{"startTime":3398.794,"endTime":3403.997,"body":"popular,"},{"startTime":3403.997,"endTime":3409.2,"body":"having"},{"startTime":3409.2,"endTime":3414.403,"body":"not"},{"startTime":3414.403,"endTime":3419.606,"body":"just"},{"startTime":3419.606,"endTime":3424.809,"body":"perhaps"},{"startTime":3424.809,"endTime":3430.012,"body":"alpha"},{"startTime":3430.012,"endTime":3435.215,"body":"decay"},{"startTime":3435.215,"endTime":3440.418,"body":"consequences,"},{"startTime":3440.418,"endTime":3445.621,"body":"but"},{"startTime":3445.621,"endTime":3450.824,"body":"also"},{"startTime":3450.824,"endTime":3456.027,"body":"having"},{"startTime":3456.027,"endTime":3461.23,"body":"forced"},{"startTime":3461.23,"endTime":3466.433,"body":"unwinding"},{"startTime":3466.433,"endTime":3471.636,"body":"events"},{"startTime":3471.636,"endTime":3476.839,"body":"when"},{"startTime":3476.839,"endTime":3482.042,"body":"some"},{"startTime":3482.042,"endTime":3487.245,"body":"sort"},{"startTime":3487.245,"endTime":3492.448,"body":"of"},{"startTime":3492.448,"endTime":3497.651,"body":"a"},{"startTime":3497.651,"endTime":3502.854,"body":"macro"},{"startTime":3502.854,"endTime":3508.057,"body":"shock"},{"startTime":3508.057,"endTime":3513.26,"body":"or"},{"startTime":3513.26,"endTime":3518.463,"body":"funding"},{"startTime":3518.463,"endTime":3523.666,"body":"liquidity"},{"startTime":3523.666,"endTime":3528.869,"body":"driving"},{"startTime":3528.869,"endTime":3534.072,"body":"some"},{"startTime":3534.072,"endTime":3539.275,"body":"of"},{"startTime":3539.275,"endTime":3544.478,"body":"the"},{"startTime":3544.478,"endTime":3549.681,"body":"performance."},{"startTime":3549.681,"endTime":3554.884,"body":"And"},{"startTime":3554.884,"endTime":3560.087,"body":"then"},{"startTime":3560.087,"endTime":3565.29,"body":"you"},{"startTime":3565.29,"endTime":3570.493,"body":"have"},{"startTime":3570.493,"endTime":3575.696,"body":"this"},{"startTime":3575.696,"endTime":3580.899,"body":"circus"},{"startTime":3580.899,"endTime":3586.102,"body":"of"},{"startTime":3586.102,"endTime":3591.305,"body":"unwinding"},{"startTime":3591.305,"endTime":3596.508,"body":"and"},{"startTime":3596.508,"endTime":3601.711,"body":"obviously"},{"startTime":3601.711,"endTime":3606.914,"body":"one"},{"startTime":3606.914,"endTime":3612.117,"body":"is"},{"startTime":3612.117,"endTime":3617.32,"body":"causing"},{"startTime":3617.32,"endTime":3622.523,"body":"the"},{"startTime":3622.523,"endTime":3627.726,"body":"other,"},{"startTime":3627.726,"endTime":3632.929,"body":"and"},{"startTime":3632.929,"endTime":3638.132,"body":"so"},{"startTime":3638.132,"endTime":3643.335,"body":"on,"},{"startTime":3643.335,"endTime":3648.538,"body":"and"},{"startTime":3648.538,"endTime":3653.741,"body":"so"},{"startTime":3653.741,"endTime":3658.944,"body":"forth."},{"startTime":3658.944,"endTime":3664.147,"body":"So,"},{"startTime":3664.147,"endTime":3669.35,"body":"some"},{"startTime":3669.35,"endTime":3674.553,"body":"of"},{"startTime":3674.553,"endTime":3679.756,"body":"the"},{"startTime":3679.756,"endTime":3684.959,"body":"‘fire"},{"startTime":3684.959,"endTime":3690.162,"body":"sale’"},{"startTime":3690.162,"endTime":3695.365,"body":"dynamic."},{"startTime":3325.952,"endTime":3336.358,"body":"\rAndif"},{"startTime":3336.358,"endTime":3341.561,"body":"I"},{"startTime":3341.561,"endTime":3346.764,"body":"were"},{"startTime":3346.764,"endTime":3351.967,"body":"to"},{"startTime":3351.967,"endTime":3357.17,"body":"quote"},{"startTime":3357.17,"endTime":3362.373,"body":"some"},{"startTime":3362.373,"endTime":3367.576,"body":"of"},{"startTime":3367.576,"endTime":3372.779,"body":"the"},{"startTime":3372.779,"endTime":3377.982,"body":"stats"},{"startTime":3377.982,"endTime":3383.185,"body":"in"},{"startTime":3383.185,"endTime":3388.388,"body":"the"},{"startTime":3388.388,"endTime":3393.591,"body":"paper,"},{"startTime":3393.591,"endTime":3398.794,"body":"they"},{"startTime":3398.794,"endTime":3403.997,"body":"say"},{"startTime":3403.997,"endTime":3409.2,"body":"that"},{"startTime":3409.2,"endTime":3414.403,"body":"during"},{"startTime":3414.403,"endTime":3419.606,"body":"stress"},{"startTime":3419.606,"endTime":3424.809,"body":"periods"},{"startTime":3424.809,"endTime":3430.012,"body":"classical"},{"startTime":3430.012,"endTime":3435.215,"body":"macro"},{"startTime":3435.215,"endTime":3440.418,"body":"factors"},{"startTime":3440.418,"endTime":3445.621,"body":"can"},{"startTime":3445.621,"endTime":3450.824,"body":"explain"},{"startTime":3450.824,"endTime":3456.027,"body":"more"},{"startTime":3456.027,"endTime":3461.23,"body":"than"},{"startTime":3461.23,"endTime":3466.433,"body":"50%"},{"startTime":3466.433,"endTime":3471.636,"body":"of"},{"startTime":3471.636,"endTime":3476.839,"body":"factor"},{"startTime":3476.839,"endTime":3482.042,"body":"return"},{"startTime":3482.042,"endTime":3487.245,"body":"variation,"},{"startTime":3487.245,"endTime":3492.448,"body":"which"},{"startTime":3492.448,"endTime":3497.651,"body":"is"},{"startTime":3497.651,"endTime":3502.854,"body":"quite"},{"startTime":3502.854,"endTime":3508.057,"body":"substantial"},{"startTime":3508.057,"endTime":3513.26,"body":"if"},{"startTime":3513.26,"endTime":3518.463,"body":"you"},{"startTime":3518.463,"endTime":3523.666,"body":"were"},{"startTime":3523.666,"endTime":3528.869,"body":"to"},{"startTime":3528.869,"endTime":3534.072,"body":"think"},{"startTime":3534.072,"endTime":3539.275,"body":"that"},{"startTime":3539.275,"endTime":3544.478,"body":"normal"},{"startTime":3544.478,"endTime":3549.681,"body":"times"},{"startTime":3549.681,"endTime":3554.884,"body":"it's"},{"startTime":3554.884,"endTime":3560.087,"body":"more"},{"startTime":3560.087,"endTime":3565.29,"body":"like"},{"startTime":3565.29,"endTime":3570.493,"body":"20%."},{"startTime":3570.493,"endTime":3575.696,"body":"So,"},{"startTime":3575.696,"endTime":3580.899,"body":"that"},{"startTime":3580.899,"endTime":3586.102,"body":"was"},{"startTime":3586.102,"endTime":3591.305,"body":"what"},{"startTime":3591.305,"endTime":3596.508,"body":"happened"},{"startTime":3596.508,"endTime":3601.711,"body":"back"},{"startTime":3601.711,"endTime":3606.914,"body":"then"},{"startTime":3606.914,"endTime":3612.117,"body":"and"},{"startTime":3612.117,"endTime":3617.32,"body":"now"},{"startTime":3617.32,"endTime":3622.523,"body":"the"},{"startTime":3622.523,"endTime":3627.726,"body":"question"},{"startTime":3627.726,"endTime":3632.929,"body":"is,"},{"startTime":3632.929,"endTime":3638.132,"body":"obviously,"},{"startTime":3638.132,"endTime":3643.335,"body":"if"},{"startTime":3643.335,"endTime":3648.538,"body":"we"},{"startTime":3648.538,"endTime":3653.741,"body":"bring"},{"startTime":3653.741,"endTime":3658.944,"body":"this"},{"startTime":3658.944,"endTime":3664.147,"body":"world"},{"startTime":3664.147,"endTime":3669.35,"body":"to"},{"startTime":3669.35,"endTime":3674.553,"body":"today,"},{"startTime":3674.553,"endTime":3679.756,"body":"how"},{"startTime":3679.756,"endTime":3684.959,"body":"things"},{"startTime":3684.959,"endTime":3690.162,"body":"have"},{"startTime":3690.162,"endTime":3695.365,"body":"changed."},{"startTime":3325.952,"endTime":3339.636,"body":"\rTheyuse"},{"startTime":3339.636,"endTime":3346.478,"body":"an"},{"startTime":3346.478,"endTime":3353.32,"body":"internal"},{"startTime":3353.32,"endTime":3360.162,"body":"model"},{"startTime":3360.162,"endTime":3367.004,"body":"they"},{"startTime":3367.004,"endTime":3373.846,"body":"have"},{"startTime":3373.846,"endTime":3380.688,"body":"for"},{"startTime":3380.688,"endTime":3387.53,"body":"regime"},{"startTime":3387.53,"endTime":3394.372,"body":"identification."},{"startTime":3394.372,"endTime":3401.214,"body":"So,"},{"startTime":3401.214,"endTime":3408.056,"body":"no"},{"startTime":3408.056,"endTime":3414.898,"body":"surprise,"},{"startTime":3414.898,"endTime":3421.74,"body":"you"},{"startTime":3421.74,"endTime":3428.582,"body":"typically"},{"startTime":3428.582,"endTime":3435.424,"body":"have"},{"startTime":3435.424,"endTime":3442.266,"body":"kind"},{"startTime":3442.266,"endTime":3449.108,"body":"of"},{"startTime":3449.108,"endTime":3455.95,"body":"recession,"},{"startTime":3455.95,"endTime":3462.792,"body":"early"},{"startTime":3462.792,"endTime":3469.634,"body":"expansion,"},{"startTime":3469.634,"endTime":3476.476,"body":"late"},{"startTime":3476.476,"endTime":3483.318,"body":"expansion,"},{"startTime":3483.318,"endTime":3490.16,"body":"and"},{"startTime":3490.16,"endTime":3497.002,"body":"overheating."},{"startTime":3497.002,"endTime":3503.844,"body":"So,"},{"startTime":3503.844,"endTime":3510.686,"body":"the"},{"startTime":3510.686,"endTime":3517.528,"body":"four"},{"startTime":3517.528,"endTime":3524.37,"body":"typical"},{"startTime":3524.37,"endTime":3531.212,"body":"regimes"},{"startTime":3531.212,"endTime":3538.054,"body":"that"},{"startTime":3538.054,"endTime":3544.896,"body":"the"},{"startTime":3544.896,"endTime":3551.738,"body":"equity"},{"startTime":3551.738,"endTime":3558.58,"body":"market,"},{"startTime":3558.58,"endTime":3565.422,"body":"or,"},{"startTime":3565.422,"endTime":3572.264,"body":"broadly,"},{"startTime":3572.264,"endTime":3579.106,"body":"the"},{"startTime":3579.106,"endTime":3585.948,"body":"macro"},{"startTime":3585.948,"endTime":3592.79,"body":"market"},{"startTime":3592.79,"endTime":3599.632,"body":"goes"},{"startTime":3599.632,"endTime":3606.474,"body":"through,"},{"startTime":3606.474,"endTime":3613.316,"body":"they"},{"startTime":3613.316,"endTime":3620.158,"body":"utilize"},{"startTime":3620.158,"endTime":3627,"body":"that"},{"startTime":3627,"endTime":3633.842,"body":"to"},{"startTime":3633.842,"endTime":3640.684,"body":"understand"},{"startTime":3640.684,"endTime":3647.526,"body":"better"},{"startTime":3647.526,"endTime":3654.368,"body":"the"},{"startTime":3654.368,"endTime":3661.21,"body":"quant"},{"startTime":3661.21,"endTime":3668.052,"body":"winter"},{"startTime":3668.052,"endTime":3674.894,"body":"and"},{"startTime":3674.894,"endTime":3681.736,"body":"associate"},{"startTime":3681.736,"endTime":3688.578,"body":"different"},{"startTime":3688.578,"endTime":3695.42,"body":"environments."},{"startTime":3325.952,"endTime":3337.68,"body":"\rButthen"},{"startTime":3337.68,"endTime":3343.544,"body":"they"},{"startTime":3343.544,"endTime":3349.408,"body":"make"},{"startTime":3349.408,"endTime":3355.272,"body":"the"},{"startTime":3355.272,"endTime":3361.136,"body":"argument"},{"startTime":3361.136,"endTime":3367,"body":"that,"},{"startTime":3367,"endTime":3372.864,"body":"with"},{"startTime":3372.864,"endTime":3378.728,"body":"us"},{"startTime":3378.728,"endTime":3384.592,"body":"understanding"},{"startTime":3384.592,"endTime":3390.456,"body":"better"},{"startTime":3390.456,"endTime":3396.32,"body":"how"},{"startTime":3396.32,"endTime":3402.184,"body":"the"},{"startTime":3402.184,"endTime":3408.048,"body":"macro"},{"startTime":3408.048,"endTime":3413.912,"body":"cycle"},{"startTime":3413.912,"endTime":3419.776,"body":"works"},{"startTime":3419.776,"endTime":3425.64,"body":"(at"},{"startTime":3425.64,"endTime":3431.504,"body":"least"},{"startTime":3431.504,"endTime":3437.368,"body":"through"},{"startTime":3437.368,"endTime":3443.232,"body":"the"},{"startTime":3443.232,"endTime":3449.096,"body":"lens"},{"startTime":3449.096,"endTime":3454.96,"body":"of"},{"startTime":3454.96,"endTime":3460.824,"body":"factor"},{"startTime":3460.824,"endTime":3466.688,"body":"investing),"},{"startTime":3466.688,"endTime":3472.552,"body":"their"},{"startTime":3472.552,"endTime":3478.416,"body":"argument"},{"startTime":3478.416,"endTime":3484.28,"body":"is"},{"startTime":3484.28,"endTime":3490.144,"body":"that"},{"startTime":3490.144,"endTime":3496.008,"body":"now"},{"startTime":3496.008,"endTime":3501.872,"body":"we,"},{"startTime":3501.872,"endTime":3507.736,"body":"as"},{"startTime":3507.736,"endTime":3513.6,"body":"investment"},{"startTime":3513.6,"endTime":3519.464,"body":"practitioners,"},{"startTime":3519.464,"endTime":3525.328,"body":"as"},{"startTime":3525.328,"endTime":3531.192,"body":"managers,"},{"startTime":3531.192,"endTime":3537.056,"body":"are"},{"startTime":3537.056,"endTime":3542.92,"body":"utilizing"},{"startTime":3542.92,"endTime":3548.784,"body":"more"},{"startTime":3548.784,"endTime":3554.648,"body":"dynamic"},{"startTime":3554.648,"endTime":3560.512,"body":"allocation"},{"startTime":3560.512,"endTime":3566.376,"body":"in"},{"startTime":3566.376,"endTime":3572.24,"body":"the"},{"startTime":3572.24,"endTime":3578.104,"body":"factor"},{"startTime":3578.104,"endTime":3583.968,"body":"space"},{"startTime":3583.968,"endTime":3589.832,"body":"and"},{"startTime":3589.832,"endTime":3595.696,"body":"less"},{"startTime":3595.696,"endTime":3601.56,"body":"static."},{"startTime":3601.56,"endTime":3607.424,"body":"And"},{"startTime":3607.424,"endTime":3613.288,"body":"I"},{"startTime":3613.288,"endTime":3619.152,"body":"think"},{"startTime":3619.152,"endTime":3625.016,"body":"that's"},{"startTime":3625.016,"endTime":3630.88,"body":"something"},{"startTime":3630.88,"endTime":3636.744,"body":"we"},{"startTime":3636.744,"endTime":3642.608,"body":"also"},{"startTime":3642.608,"endTime":3648.472,"body":"see,"},{"startTime":3648.472,"endTime":3654.336,"body":"and"},{"startTime":3654.336,"endTime":3660.2,"body":"we"},{"startTime":3660.2,"endTime":3666.064,"body":"have"},{"startTime":3666.064,"endTime":3671.928,"body":"seen"},{"startTime":3671.928,"endTime":3677.792,"body":"the"},{"startTime":3677.792,"endTime":3683.656,"body":"QIS"},{"startTime":3683.656,"endTime":3689.52,"body":"space"},{"startTime":3689.52,"endTime":3695.384,"body":"doing."},{"startTime":3325.952,"endTime":3344.426,"body":"\rAndI"},{"startTime":3344.426,"endTime":3353.663,"body":"think"},{"startTime":3353.663,"endTime":3362.9,"body":"it"},{"startTime":3362.9,"endTime":3372.137,"body":"is"},{"startTime":3372.137,"endTime":3381.374,"body":"now"},{"startTime":3381.374,"endTime":3390.611,"body":"much"},{"startTime":3390.611,"endTime":3399.848,"body":"more"},{"startTime":3399.848,"endTime":3409.085,"body":"of"},{"startTime":3409.085,"endTime":3418.322,"body":"an"},{"startTime":3418.322,"endTime":3427.559,"body":"expectation"},{"startTime":3427.559,"endTime":3436.796,"body":"that"},{"startTime":3436.796,"endTime":3446.033,"body":"you"},{"startTime":3446.033,"endTime":3455.27,"body":"have"},{"startTime":3455.27,"endTime":3464.507,"body":"a"},{"startTime":3464.507,"endTime":3473.744,"body":"dynamic"},{"startTime":3473.744,"endTime":3482.981,"body":"allocation"},{"startTime":3482.981,"endTime":3492.218,"body":"mindset"},{"startTime":3492.218,"endTime":3501.455,"body":"rather"},{"startTime":3501.455,"endTime":3510.692,"body":"than"},{"startTime":3510.692,"endTime":3519.929,"body":"a"},{"startTime":3519.929,"endTime":3529.166,"body":"static"},{"startTime":3529.166,"endTime":3538.403,"body":"one."},{"startTime":3538.403,"endTime":3547.64,"body":"So,"},{"startTime":3547.64,"endTime":3556.877,"body":"there"},{"startTime":3556.877,"endTime":3566.114,"body":"is"},{"startTime":3566.114,"endTime":3575.351,"body":"some"},{"startTime":3575.351,"endTime":3584.588,"body":"value"},{"startTime":3584.588,"endTime":3593.825,"body":"that"},{"startTime":3593.825,"endTime":3603.062,"body":"dynamic"},{"startTime":3603.062,"endTime":3612.299,"body":"allocation"},{"startTime":3612.299,"endTime":3621.536,"body":"can"},{"startTime":3621.536,"endTime":3630.773,"body":"bring"},{"startTime":3630.773,"endTime":3640.01,"body":"with,"},{"startTime":3640.01,"endTime":3649.247,"body":"I"},{"startTime":3649.247,"endTime":3658.484,"body":"guess,"},{"startTime":3658.484,"endTime":3667.721,"body":"the"},{"startTime":3667.721,"endTime":3676.958,"body":"caveats"},{"startTime":3676.958,"endTime":3686.195,"body":"of"},{"startTime":3686.195,"endTime":3695.432,"body":"concentration."},{"startTime":3325.952,"endTime":3335.936,"body":"\rThereis"},{"startTime":3335.936,"endTime":3340.928,"body":"obviously"},{"startTime":3340.928,"endTime":3345.92,"body":"new"},{"startTime":3345.92,"endTime":3350.912,"body":"data."},{"startTime":3350.912,"endTime":3355.904,"body":"So"},{"startTime":3355.904,"endTime":3360.896,"body":"what"},{"startTime":3360.896,"endTime":3365.888,"body":"historically"},{"startTime":3365.888,"endTime":3370.88,"body":"used"},{"startTime":3370.88,"endTime":3375.872,"body":"to"},{"startTime":3375.872,"endTime":3380.864,"body":"be"},{"startTime":3380.864,"endTime":3385.856,"body":"your"},{"startTime":3385.856,"endTime":3390.848,"body":"quality"},{"startTime":3390.848,"endTime":3395.84,"body":"score,"},{"startTime":3395.84,"endTime":3400.832,"body":"and"},{"startTime":3400.832,"endTime":3405.824,"body":"your"},{"startTime":3405.824,"endTime":3410.816,"body":"momentum"},{"startTime":3410.816,"endTime":3415.808,"body":"score,"},{"startTime":3415.808,"endTime":3420.8,"body":"and"},{"startTime":3420.8,"endTime":3425.792,"body":"your"},{"startTime":3425.792,"endTime":3430.784,"body":"value"},{"startTime":3430.784,"endTime":3435.776,"body":"score,"},{"startTime":3435.776,"endTime":3440.768,"body":"can"},{"startTime":3440.768,"endTime":3445.76,"body":"now"},{"startTime":3445.76,"endTime":3450.752,"body":"be"},{"startTime":3450.752,"endTime":3455.744,"body":"either"},{"startTime":3455.744,"endTime":3460.736,"body":"enhanced"},{"startTime":3460.736,"endTime":3465.728,"body":"or"},{"startTime":3465.728,"endTime":3470.72,"body":"expanded"},{"startTime":3470.72,"endTime":3475.712,"body":"in"},{"startTime":3475.712,"endTime":3480.704,"body":"the"},{"startTime":3480.704,"endTime":3485.696,"body":"factor"},{"startTime":3485.696,"endTime":3490.688,"body":"space"},{"startTime":3490.688,"endTime":3495.68,"body":"by"},{"startTime":3495.68,"endTime":3500.672,"body":"geolocation"},{"startTime":3500.672,"endTime":3505.664,"body":"data,"},{"startTime":3505.664,"endTime":3510.656,"body":"and"},{"startTime":3510.656,"endTime":3515.648,"body":"credit"},{"startTime":3515.648,"endTime":3520.64,"body":"card"},{"startTime":3520.64,"endTime":3525.632,"body":"data"},{"startTime":3525.632,"endTime":3530.624,"body":"(and"},{"startTime":3530.624,"endTime":3535.616,"body":"you"},{"startTime":3535.616,"endTime":3540.608,"body":"name"},{"startTime":3540.608,"endTime":3545.6,"body":"it),"},{"startTime":3545.6,"endTime":3550.592,"body":"and"},{"startTime":3550.592,"endTime":3555.584,"body":"patents,"},{"startTime":3555.584,"endTime":3560.576,"body":"and"},{"startTime":3560.576,"endTime":3565.568,"body":"kind"},{"startTime":3565.568,"endTime":3570.56,"body":"of"},{"startTime":3570.56,"endTime":3575.552,"body":"sentiment"},{"startTime":3575.552,"endTime":3580.544,"body":"from"},{"startTime":3580.544,"endTime":3585.536,"body":"the"},{"startTime":3585.536,"endTime":3590.528,"body":"buy"},{"startTime":3590.528,"endTime":3595.52,"body":"side,"},{"startTime":3595.52,"endTime":3600.512,"body":"from"},{"startTime":3600.512,"endTime":3605.504,"body":"the"},{"startTime":3605.504,"endTime":3610.496,"body":"sell"},{"startTime":3610.496,"endTime":3615.488,"body":"side,"},{"startTime":3615.488,"endTime":3620.48,"body":"using"},{"startTime":3620.48,"endTime":3625.472,"body":"ML"},{"startTime":3625.472,"endTime":3630.464,"body":"models."},{"startTime":3630.464,"endTime":3635.456,"body":"So,"},{"startTime":3635.456,"endTime":3640.448,"body":"there"},{"startTime":3640.448,"endTime":3645.44,"body":"is"},{"startTime":3645.44,"endTime":3650.432,"body":"new"},{"startTime":3650.432,"endTime":3655.424,"body":"data"},{"startTime":3655.424,"endTime":3660.416,"body":"to"},{"startTime":3660.416,"endTime":3665.408,"body":"be"},{"startTime":3665.408,"endTime":3670.4,"body":"utilized"},{"startTime":3670.4,"endTime":3675.392,"body":"which"},{"startTime":3675.392,"endTime":3680.384,"body":"inherently"},{"startTime":3680.384,"endTime":3685.376,"body":"provides"},{"startTime":3685.376,"endTime":3690.368,"body":"some"},{"startTime":3690.368,"endTime":3695.36,"body":"diversification."},{"startTime":3325.952,"endTime":3345.922,"body":"\rSo,they"},{"startTime":3345.922,"endTime":3355.907,"body":"put"},{"startTime":3355.907,"endTime":3365.892,"body":"some"},{"startTime":3365.892,"endTime":3375.877,"body":"quotes"},{"startTime":3375.877,"endTime":3385.862,"body":"that,"},{"startTime":3385.862,"endTime":3395.847,"body":"for"},{"startTime":3395.847,"endTime":3405.832,"body":"example,"},{"startTime":3405.832,"endTime":3415.817,"body":"alpha"},{"startTime":3415.817,"endTime":3425.802,"body":"models,"},{"startTime":3425.802,"endTime":3435.787,"body":"back"},{"startTime":3435.787,"endTime":3445.772,"body":"in"},{"startTime":3445.772,"endTime":3455.757,"body":"the"},{"startTime":3455.757,"endTime":3465.742,"body":"days,"},{"startTime":3465.742,"endTime":3475.727,"body":"would"},{"startTime":3475.727,"endTime":3485.712,"body":"have"},{"startTime":3485.712,"endTime":3495.697,"body":"correlations"},{"startTime":3495.697,"endTime":3505.682,"body":"of"},{"startTime":3505.682,"endTime":3515.667,"body":"70%"},{"startTime":3515.667,"endTime":3525.652,"body":"to"},{"startTime":3525.652,"endTime":3535.637,"body":"80%."},{"startTime":3535.637,"endTime":3545.622,"body":"These"},{"startTime":3545.622,"endTime":3555.607,"body":"days,"},{"startTime":3555.607,"endTime":3565.592,"body":"more"},{"startTime":3565.592,"endTime":3575.577,"body":"like"},{"startTime":3575.577,"endTime":3585.562,"body":"40%"},{"startTime":3585.562,"endTime":3595.547,"body":"to"},{"startTime":3595.547,"endTime":3605.532,"body":"50%."},{"startTime":3605.532,"endTime":3615.517,"body":"So,"},{"startTime":3615.517,"endTime":3625.502,"body":"there"},{"startTime":3625.502,"endTime":3635.487,"body":"is"},{"startTime":3635.487,"endTime":3645.472,"body":"some"},{"startTime":3645.472,"endTime":3655.457,"body":"diversification"},{"startTime":3655.457,"endTime":3665.442,"body":"at"},{"startTime":3665.442,"endTime":3675.427,"body":"the"},{"startTime":3675.427,"endTime":3685.412,"body":"signal"},{"startTime":3685.412,"endTime":3695.397,"body":"level."},{"startTime":3325.952,"endTime":3336.66,"body":"\rAndlastly,"},{"startTime":3336.66,"endTime":3342.014,"body":"they"},{"startTime":3342.014,"endTime":3347.368,"body":"make"},{"startTime":3347.368,"endTime":3352.722,"body":"the"},{"startTime":3352.722,"endTime":3358.076,"body":"argument"},{"startTime":3358.076,"endTime":3363.43,"body":"that"},{"startTime":3363.43,"endTime":3368.784,"body":"going"},{"startTime":3368.784,"endTime":3374.138,"body":"through"},{"startTime":3374.138,"endTime":3379.492,"body":"the"},{"startTime":3379.492,"endTime":3384.846,"body":"more"},{"startTime":3384.846,"endTime":3390.2,"body":"dynamic"},{"startTime":3390.2,"endTime":3395.554,"body":"allocation,"},{"startTime":3395.554,"endTime":3400.908,"body":"going"},{"startTime":3400.908,"endTime":3406.262,"body":"through"},{"startTime":3406.262,"endTime":3411.616,"body":"new"},{"startTime":3411.616,"endTime":3416.97,"body":"data,"},{"startTime":3416.97,"endTime":3422.324,"body":"going"},{"startTime":3422.324,"endTime":3427.678,"body":"through"},{"startTime":3427.678,"endTime":3433.032,"body":"more"},{"startTime":3433.032,"endTime":3438.386,"body":"modern"},{"startTime":3438.386,"endTime":3443.74,"body":"techniques,"},{"startTime":3443.74,"endTime":3449.094,"body":"designing"},{"startTime":3449.094,"endTime":3454.448,"body":"portfolios,"},{"startTime":3454.448,"endTime":3459.802,"body":"or"},{"startTime":3459.802,"endTime":3465.156,"body":"crafting"},{"startTime":3465.156,"endTime":3470.51,"body":"alpha"},{"startTime":3470.51,"endTime":3475.864,"body":"scores,"},{"startTime":3475.864,"endTime":3481.218,"body":"eventually"},{"startTime":3481.218,"endTime":3486.572,"body":"provide"},{"startTime":3486.572,"endTime":3491.926,"body":"some"},{"startTime":3491.926,"endTime":3497.28,"body":"sort"},{"startTime":3497.28,"endTime":3502.634,"body":"of"},{"startTime":3502.634,"endTime":3507.988,"body":"a"},{"startTime":3507.988,"endTime":3513.342,"body":"macro"},{"startTime":3513.342,"endTime":3518.696,"body":"regime"},{"startTime":3518.696,"endTime":3524.05,"body":"resilience."},{"startTime":3524.05,"endTime":3529.404,"body":"So,"},{"startTime":3529.404,"endTime":3534.758,"body":"what"},{"startTime":3534.758,"endTime":3540.112,"body":"was,"},{"startTime":3540.112,"endTime":3545.466,"body":"back"},{"startTime":3545.466,"endTime":3550.82,"body":"in"},{"startTime":3550.82,"endTime":3556.174,"body":"the"},{"startTime":3556.174,"endTime":3561.528,"body":"day,"},{"startTime":3561.528,"endTime":3566.882,"body":"a"},{"startTime":3566.882,"endTime":3572.236,"body":"macro"},{"startTime":3572.236,"endTime":3577.59,"body":"regime"},{"startTime":3577.59,"endTime":3582.944,"body":"dependence"},{"startTime":3582.944,"endTime":3588.298,"body":"can"},{"startTime":3588.298,"endTime":3593.652,"body":"become"},{"startTime":3593.652,"endTime":3599.006,"body":"a"},{"startTime":3599.006,"endTime":3604.36,"body":"macro"},{"startTime":3604.36,"endTime":3609.714,"body":"regime"},{"startTime":3609.714,"endTime":3615.068,"body":"resilience"},{"startTime":3615.068,"endTime":3620.422,"body":"with"},{"startTime":3620.422,"endTime":3625.776,"body":"the"},{"startTime":3625.776,"endTime":3631.13,"body":"use"},{"startTime":3631.13,"endTime":3636.484,"body":"of"},{"startTime":3636.484,"endTime":3641.838,"body":"all"},{"startTime":3641.838,"endTime":3647.192,"body":"those"},{"startTime":3647.192,"endTime":3652.546,"body":"technologies"},{"startTime":3652.546,"endTime":3657.9,"body":"and"},{"startTime":3657.9,"endTime":3663.254,"body":"data"},{"startTime":3663.254,"endTime":3668.608,"body":"sources"},{"startTime":3668.608,"endTime":3673.962,"body":"in"},{"startTime":3673.962,"endTime":3679.316,"body":"the"},{"startTime":3679.316,"endTime":3684.67,"body":"quant"},{"startTime":3684.67,"endTime":3690.024,"body":"equity"},{"startTime":3690.024,"endTime":3695.378,"body":"space."},{"startTime":3325.952,"endTime":3340.44,"body":"\rSo,I"},{"startTime":3340.44,"endTime":3347.684,"body":"think"},{"startTime":3347.684,"endTime":3354.928,"body":"equities,"},{"startTime":3354.928,"endTime":3362.172,"body":"because"},{"startTime":3362.172,"endTime":3369.416,"body":"of"},{"startTime":3369.416,"endTime":3376.66,"body":"their"},{"startTime":3376.66,"endTime":3383.904,"body":"dimensionality,"},{"startTime":3383.904,"endTime":3391.148,"body":"they"},{"startTime":3391.148,"endTime":3398.392,"body":"have"},{"startTime":3398.392,"endTime":3405.636,"body":"been"},{"startTime":3405.636,"endTime":3412.88,"body":"the"},{"startTime":3412.88,"endTime":3420.124,"body":"most"},{"startTime":3420.124,"endTime":3427.368,"body":"researched"},{"startTime":3427.368,"endTime":3434.612,"body":"and"},{"startTime":3434.612,"endTime":3441.856,"body":"they"},{"startTime":3441.856,"endTime":3449.1,"body":"will"},{"startTime":3449.1,"endTime":3456.344,"body":"continue"},{"startTime":3456.344,"endTime":3463.588,"body":"being"},{"startTime":3463.588,"endTime":3470.832,"body":"a"},{"startTime":3470.832,"endTime":3478.076,"body":"space"},{"startTime":3478.076,"endTime":3485.32,"body":"that"},{"startTime":3485.32,"endTime":3492.564,"body":"the"},{"startTime":3492.564,"endTime":3499.808,"body":"return"},{"startTime":3499.808,"endTime":3507.052,"body":"can"},{"startTime":3507.052,"endTime":3514.296,"body":"be"},{"startTime":3514.296,"endTime":3521.54,"body":"harvested."},{"startTime":3521.54,"endTime":3528.784,"body":"So,"},{"startTime":3528.784,"endTime":3536.028,"body":"I"},{"startTime":3536.028,"endTime":3543.272,"body":"found"},{"startTime":3543.272,"endTime":3550.516,"body":"this"},{"startTime":3550.516,"endTime":3557.76,"body":"one"},{"startTime":3557.76,"endTime":3565.004,"body":"quite"},{"startTime":3565.004,"endTime":3572.248,"body":"an"},{"startTime":3572.248,"endTime":3579.492,"body":"interesting"},{"startTime":3579.492,"endTime":3586.736,"body":"one,"},{"startTime":3586.736,"endTime":3593.98,"body":"both"},{"startTime":3593.98,"endTime":3601.224,"body":"for"},{"startTime":3601.224,"endTime":3608.468,"body":"myself"},{"startTime":3608.468,"endTime":3615.712,"body":"as"},{"startTime":3615.712,"endTime":3622.956,"body":"well"},{"startTime":3622.956,"endTime":3630.2,"body":"as,"},{"startTime":3630.2,"endTime":3637.444,"body":"I"},{"startTime":3637.444,"endTime":3644.688,"body":"guess,"},{"startTime":3644.688,"endTime":3651.932,"body":"for"},{"startTime":3651.932,"endTime":3659.176,"body":"this"},{"startTime":3659.176,"endTime":3666.42,"body":"discussion"},{"startTime":3666.42,"endTime":3673.664,"body":"to"},{"startTime":3673.664,"endTime":3680.908,"body":"be"},{"startTime":3680.908,"endTime":3688.152,"body":"brought"},{"startTime":3688.152,"endTime":3695.396,"body":"forward."},{"startTime":3325.952,"endTime":3339.894,"body":"\rSothat's"},{"startTime":3339.894,"endTime":3346.865,"body":"the"},{"startTime":3346.865,"endTime":3353.836,"body":"whole"},{"startTime":3353.836,"endTime":3360.807,"body":"story,"},{"startTime":3360.807,"endTime":3367.778,"body":"right?"},{"startTime":3367.778,"endTime":3374.749,"body":"Is"},{"startTime":3374.749,"endTime":3381.72,"body":"the"},{"startTime":3381.72,"endTime":3388.691,"body":"quant"},{"startTime":3388.691,"endTime":3395.662,"body":"winter"},{"startTime":3395.662,"endTime":3402.633,"body":"something"},{"startTime":3402.633,"endTime":3409.604,"body":"we"},{"startTime":3409.604,"endTime":3416.575,"body":"can"},{"startTime":3416.575,"endTime":3423.546,"body":"see"},{"startTime":3423.546,"endTime":3430.517,"body":"again?"},{"startTime":3430.517,"endTime":3437.488,"body":"And"},{"startTime":3437.488,"endTime":3444.459,"body":"if"},{"startTime":3444.459,"endTime":3451.43,"body":"that"},{"startTime":3451.43,"endTime":3458.401,"body":"is"},{"startTime":3458.401,"endTime":3465.372,"body":"the"},{"startTime":3465.372,"endTime":3472.343,"body":"case,"},{"startTime":3472.343,"endTime":3479.314,"body":"what"},{"startTime":3479.314,"endTime":3486.285,"body":"drove"},{"startTime":3486.285,"endTime":3493.256,"body":"it"},{"startTime":3493.256,"endTime":3500.227,"body":"back"},{"startTime":3500.227,"endTime":3507.198,"body":"then?"},{"startTime":3507.198,"endTime":3514.169,"body":"How"},{"startTime":3514.169,"endTime":3521.14,"body":"the"},{"startTime":3521.14,"endTime":3528.111,"body":"changes"},{"startTime":3528.111,"endTime":3535.082,"body":"that"},{"startTime":3535.082,"endTime":3542.053,"body":"we've"},{"startTime":3542.053,"endTime":3549.024,"body":"seen"},{"startTime":3549.024,"endTime":3555.995,"body":"in"},{"startTime":3555.995,"endTime":3562.966,"body":"the"},{"startTime":3562.966,"endTime":3569.937,"body":"space"},{"startTime":3569.937,"endTime":3576.908,"body":"have"},{"startTime":3576.908,"endTime":3583.879,"body":"maybe"},{"startTime":3583.879,"endTime":3590.85,"body":"reduced"},{"startTime":3590.85,"endTime":3597.821,"body":"this"},{"startTime":3597.821,"endTime":3604.792,"body":"probability"},{"startTime":3604.792,"endTime":3611.763,"body":"if"},{"startTime":3611.763,"endTime":3618.734,"body":"the"},{"startTime":3618.734,"endTime":3625.705,"body":"macro"},{"startTime":3625.705,"endTime":3632.676,"body":"regime"},{"startTime":3632.676,"endTime":3639.647,"body":"is"},{"startTime":3639.647,"endTime":3646.618,"body":"not"},{"startTime":3646.618,"endTime":3653.589,"body":"very"},{"startTime":3653.589,"endTime":3660.56,"body":"accommodative."},{"startTime":3660.56,"endTime":3667.531,"body":"So,"},{"startTime":3667.531,"endTime":3674.502,"body":"that's"},{"startTime":3674.502,"endTime":3681.473,"body":"the"},{"startTime":3681.473,"endTime":3688.444,"body":"whole"},{"startTime":3688.444,"endTime":3695.415,"body":"story."},{"startTime":3695.432,"endTime":3695.716,"body":"In"},{"startTime":3695.716,"endTime":3696,"body":"a"},{"startTime":3696,"endTime":3696.284,"body":"sense,"},{"startTime":3696.284,"endTime":3696.568,"body":"we"},{"startTime":3696.568,"endTime":3696.852,"body":"could"},{"startTime":3696.852,"endTime":3697.136,"body":"link"},{"startTime":3697.136,"endTime":3697.42,"body":"that"},{"startTime":3697.42,"endTime":3697.704,"body":"to"},{"startTime":3697.704,"endTime":3697.988,"body":"trend"},{"startTime":3697.988,"endTime":3698.272,"body":"following"},{"startTime":3698.272,"endTime":3698.556,"body":"right"},{"startTime":3698.556,"endTime":3698.84,"body":"there."},{"startTime":3698.84,"endTime":3699.124,"body":"People"},{"startTime":3699.124,"endTime":3699.408,"body":"talk"},{"startTime":3699.408,"endTime":3699.692,"body":"about"},{"startTime":3699.692,"endTime":3699.976,"body":"a"},{"startTime":3699.976,"endTime":3700.26,"body":"trend"},{"startTime":3700.26,"endTime":3700.544,"body":"following"},{"startTime":3700.544,"endTime":3700.828,"body":"winter"},{"startTime":3700.828,"endTime":3701.112,"body":"a"},{"startTime":3701.112,"endTime":3701.396,"body":"few"},{"startTime":3701.396,"endTime":3701.68,"body":"years"},{"startTime":3701.68,"endTime":3701.964,"body":"ago"},{"startTime":3701.964,"endTime":3702.248,"body":"as"},{"startTime":3702.248,"endTime":3702.532,"body":"well,"},{"startTime":3702.532,"endTime":3702.816,"body":"right?"},{"startTime":3702.816,"endTime":3703.1,"body":"I"},{"startTime":3703.1,"endTime":3703.384,"body":"mean,"},{"startTime":3703.384,"endTime":3703.668,"body":"have"},{"startTime":3703.668,"endTime":3703.952,"body":"we…"},{"startTime":3705.232,"endTime":3705.392,"body":"I"},{"startTime":3705.392,"endTime":3705.472,"body":"thought"},{"startTime":3705.472,"endTime":3705.592,"body":"you"},{"startTime":3705.592,"endTime":3705.752,"body":"said"},{"startTime":3705.752,"endTime":3705.912,"body":"in"},{"startTime":3705.912,"endTime":3706.112,"body":"early"},{"startTime":3706.112,"endTime":3706.432,"body":"March."},{"startTime":3707.152,"endTime":3707.508,"body":"No,"},{"startTime":3707.508,"endTime":3707.864,"body":"I"},{"startTime":3707.864,"endTime":3708.22,"body":"was"},{"startTime":3708.22,"endTime":3708.576,"body":"thinking"},{"startTime":3708.576,"endTime":3708.932,"body":"about"},{"startTime":3708.932,"endTime":3709.288,"body":"the"},{"startTime":3709.288,"endTime":3709.644,"body":"2010s"},{"startTime":3709.644,"endTime":3710,"body":"where"},{"startTime":3710,"endTime":3710.356,"body":"people"},{"startTime":3710.356,"endTime":3710.712,"body":"were"},{"startTime":3710.712,"endTime":3711.068,"body":"complaining…"},{"startTime":3711.632,"endTime":3711.912,"body":"I"},{"startTime":3711.912,"endTime":3711.978,"body":"know."},{"startTime":3711.978,"endTime":3712.044,"body":"I"},{"startTime":3712.044,"endTime":3712.11,"body":"know."},{"startTime":3712.112,"endTime":3712.472,"body":"And"},{"startTime":3712.472,"endTime":3712.832,"body":"where"},{"startTime":3712.832,"endTime":3713.192,"body":"people"},{"startTime":3713.192,"endTime":3713.552,"body":"were"},{"startTime":3713.552,"endTime":3713.912,"body":"sort"},{"startTime":3713.912,"endTime":3714.272,"body":"of"},{"startTime":3714.272,"endTime":3714.632,"body":"disappointed"},{"startTime":3714.632,"endTime":3714.992,"body":"with"},{"startTime":3714.992,"endTime":3715.352,"body":"returns."},{"startTime":3715.352,"endTime":3715.712,"body":"But"},{"startTime":3715.712,"endTime":3716.072,"body":"when"},{"startTime":3716.072,"endTime":3716.432,"body":"you"},{"startTime":3716.432,"endTime":3716.792,"body":"think"},{"startTime":3716.792,"endTime":3717.152,"body":"about"},{"startTime":3717.152,"endTime":3717.512,"body":"the"},{"startTime":3717.512,"endTime":3717.872,"body":"macroeconomic"},{"startTime":3717.872,"endTime":3718.232,"body":"environment,"},{"startTime":3718.232,"endTime":3718.592,"body":"low"},{"startTime":3718.592,"endTime":3718.952,"body":"inflation,"},{"startTime":3718.952,"endTime":3719.312,"body":"stable"},{"startTime":3719.312,"endTime":3719.672,"body":"inflation,"},{"startTime":3719.672,"endTime":3720.032,"body":"very"},{"startTime":3720.032,"endTime":3720.392,"body":"little"},{"startTime":3720.392,"endTime":3720.752,"body":"movement"},{"startTime":3720.752,"endTime":3721.112,"body":"on"},{"startTime":3721.112,"endTime":3721.472,"body":"GDP,"},{"startTime":3721.472,"endTime":3721.832,"body":"and"},{"startTime":3721.832,"endTime":3722.192,"body":"so"},{"startTime":3722.192,"endTime":3722.552,"body":"on,"},{"startTime":3722.552,"endTime":3722.912,"body":"and"},{"startTime":3722.912,"endTime":3723.272,"body":"so"},{"startTime":3723.272,"endTime":3723.632,"body":"forth,"},{"startTime":3723.632,"endTime":3723.992,"body":"of"},{"startTime":3723.992,"endTime":3724.352,"body":"course,"},{"startTime":3724.352,"endTime":3724.712,"body":"that's"},{"startTime":3724.712,"endTime":3725.072,"body":"not"},{"startTime":3725.072,"endTime":3725.432,"body":"necessarily"},{"startTime":3725.432,"endTime":3725.792,"body":"the"},{"startTime":3725.792,"endTime":3726.152,"body":"best"},{"startTime":3726.152,"endTime":3726.512,"body":"environment."},{"startTime":3726.512,"endTime":3726.872,"body":"The"},{"startTime":3726.872,"endTime":3727.232,"body":"question"},{"startTime":3727.232,"endTime":3727.592,"body":"is,"},{"startTime":3727.592,"endTime":3727.952,"body":"of"},{"startTime":3727.952,"endTime":3728.312,"body":"course,"},{"startTime":3728.312,"endTime":3728.672,"body":"with"},{"startTime":3728.672,"endTime":3729.032,"body":"all"},{"startTime":3729.032,"endTime":3729.392,"body":"the"},{"startTime":3729.392,"endTime":3729.752,"body":"research"},{"startTime":3729.752,"endTime":3730.112,"body":"we"},{"startTime":3730.112,"endTime":3730.472,"body":"do,"},{"startTime":3730.472,"endTime":3730.832,"body":"should"},{"startTime":3730.832,"endTime":3731.192,"body":"that"},{"startTime":3731.192,"endTime":3731.552,"body":"happen"},{"startTime":3731.552,"endTime":3731.912,"body":"again,"},{"startTime":3731.912,"endTime":3732.272,"body":"would"},{"startTime":3732.272,"endTime":3732.632,"body":"we"},{"startTime":3732.632,"endTime":3732.992,"body":"cope"},{"startTime":3732.992,"endTime":3733.352,"body":"much"},{"startTime":3733.352,"endTime":3733.712,"body":"better"},{"startTime":3733.712,"endTime":3734.072,"body":"with"},{"startTime":3734.072,"endTime":3734.432,"body":"it?"},{"startTime":3734.432,"endTime":3734.792,"body":"That's"},{"startTime":3734.792,"endTime":3735.152,"body":"kind"},{"startTime":3735.152,"endTime":3735.512,"body":"of"},{"startTime":3735.512,"endTime":3735.872,"body":"the"},{"startTime":3735.872,"endTime":3736.232,"body":"same"},{"startTime":3736.232,"endTime":3736.592,"body":"argument"},{"startTime":3736.592,"endTime":3736.952,"body":"or"},{"startTime":3736.952,"endTime":3737.312,"body":"question"},{"startTime":3737.312,"endTime":3737.672,"body":"that"},{"startTime":3737.672,"endTime":3738.032,"body":"only"},{"startTime":3738.032,"endTime":3738.392,"body":"time"},{"startTime":3738.392,"endTime":3738.752,"body":"will"},{"startTime":3738.752,"endTime":3739.112,"body":"tell,"},{"startTime":3739.112,"endTime":3739.472,"body":"I"},{"startTime":3739.472,"endTime":3739.832,"body":"guess."},{"startTime":3741.522,"endTime":3741.774,"body":"I"},{"startTime":3741.774,"endTime":3742.026,"body":"mean,"},{"startTime":3742.026,"endTime":3742.278,"body":"I"},{"startTime":3742.278,"endTime":3742.53,"body":"think"},{"startTime":3742.53,"endTime":3742.782,"body":"we've"},{"startTime":3742.782,"endTime":3743.034,"body":"discussed"},{"startTime":3743.034,"endTime":3743.286,"body":"that"},{"startTime":3743.286,"endTime":3743.538,"body":"maybe"},{"startTime":3743.538,"endTime":3743.79,"body":"that"},{"startTime":3743.79,"endTime":3744.042,"body":"was"},{"startTime":3744.042,"endTime":3744.294,"body":"the"},{"startTime":3744.294,"endTime":3744.546,"body":"reason"},{"startTime":3744.546,"endTime":3744.798,"body":"why"},{"startTime":3744.798,"endTime":3745.05,"body":"we"},{"startTime":3745.05,"endTime":3745.302,"body":"first"},{"startTime":3745.302,"endTime":3745.554,"body":"met"},{"startTime":3745.554,"endTime":3745.806,"body":"in"},{"startTime":3745.806,"endTime":3746.058,"body":"the"},{"startTime":3746.058,"endTime":3746.31,"body":"very,"},{"startTime":3746.31,"endTime":3746.562,"body":"very"},{"startTime":3746.562,"endTime":3746.814,"body":"first"},{"startTime":3746.814,"endTime":3747.066,"body":"place."},{"startTime":3747.066,"endTime":3747.318,"body":"Right?"},{"startTime":3747.318,"endTime":3747.57,"body":"You"},{"startTime":3747.57,"endTime":3747.822,"body":"know,"},{"startTime":3747.822,"endTime":3748.074,"body":"this"},{"startTime":3748.074,"endTime":3748.326,"body":"whole"},{"startTime":3748.326,"endTime":3748.578,"body":"discussion,"},{"startTime":3748.578,"endTime":3748.83,"body":"I"},{"startTime":3748.83,"endTime":3749.082,"body":"remember,"},{"startTime":3749.082,"endTime":3749.334,"body":"back"},{"startTime":3749.334,"endTime":3749.586,"body":"in"},{"startTime":3749.586,"endTime":3749.838,"body":"the"},{"startTime":3749.838,"endTime":3750.09,"body":"day,"},{"startTime":3750.09,"endTime":3750.342,"body":"having"},{"startTime":3750.342,"endTime":3750.594,"body":"talked"},{"startTime":3750.594,"endTime":3750.846,"body":"about"},{"startTime":3750.846,"endTime":3751.098,"body":"fundamental"},{"startTime":3751.098,"endTime":3751.35,"body":"certainty"},{"startTime":3751.35,"endTime":3751.602,"body":"and"},{"startTime":3751.602,"endTime":3751.854,"body":"uncertainty,"},{"startTime":3751.854,"endTime":3752.106,"body":"and"},{"startTime":3752.106,"endTime":3752.358,"body":"how"},{"startTime":3752.358,"endTime":3752.61,"body":"the"},{"startTime":3752.61,"endTime":3752.862,"body":"Fed"},{"startTime":3752.862,"endTime":3753.114,"body":"put"},{"startTime":3753.114,"endTime":3753.366,"body":"brings"},{"startTime":3753.366,"endTime":3753.618,"body":"a"},{"startTime":3753.618,"endTime":3753.87,"body":"lot"},{"startTime":3753.87,"endTime":3754.122,"body":"of"},{"startTime":3754.122,"endTime":3754.374,"body":"fundamental"},{"startTime":3754.374,"endTime":3754.626,"body":"certainty."},{"startTime":3754.626,"endTime":3754.878,"body":"I"},{"startTime":3754.878,"endTime":3755.13,"body":"would"},{"startTime":3755.13,"endTime":3755.382,"body":"not"},{"startTime":3755.382,"endTime":3755.634,"body":"claim"},{"startTime":3755.634,"endTime":3755.886,"body":"that"},{"startTime":3755.886,"endTime":3756.138,"body":"currently"},{"startTime":3756.138,"endTime":3756.39,"body":"we're"},{"startTime":3756.39,"endTime":3756.642,"body":"sitting"},{"startTime":3756.642,"endTime":3756.894,"body":"in"},{"startTime":3756.894,"endTime":3757.146,"body":"a"},{"startTime":3757.146,"endTime":3757.398,"body":"fundamentally"},{"startTime":3757.398,"endTime":3757.65,"body":"certain"},{"startTime":3757.65,"endTime":3757.902,"body":"kind"},{"startTime":3757.902,"endTime":3758.154,"body":"of"},{"startTime":3758.154,"endTime":3758.406,"body":"environment."},{"startTime":3758.412,"endTime":3758.58,"body":"It"},{"startTime":3758.58,"endTime":3758.748,"body":"doesn't"},{"startTime":3758.748,"endTime":3758.916,"body":"look"},{"startTime":3758.916,"endTime":3759.084,"body":"like"},{"startTime":3759.084,"endTime":3759.252,"body":"it."},{"startTime":3759.252,"endTime":3759.62,"body":"Certainty"},{"startTime":3759.62,"endTime":3759.988,"body":"brings"},{"startTime":3759.988,"endTime":3760.356,"body":"reversions,"},{"startTime":3760.356,"endTime":3760.724,"body":"uncertainty"},{"startTime":3760.724,"endTime":3761.092,"body":"allows"},{"startTime":3761.092,"endTime":3761.46,"body":"price"},{"startTime":3761.46,"endTime":3761.828,"body":"trends"},{"startTime":3761.828,"endTime":3762.196,"body":"to"},{"startTime":3762.196,"endTime":3762.564,"body":"continue"},{"startTime":3762.564,"endTime":3762.932,"body":"because"},{"startTime":3762.932,"endTime":3763.3,"body":"a"},{"startTime":3763.3,"endTime":3763.668,"body":"price"},{"startTime":3763.668,"endTime":3764.036,"body":"trend,"},{"startTime":3764.036,"endTime":3764.404,"body":"in"},{"startTime":3764.404,"endTime":3764.772,"body":"a"},{"startTime":3764.772,"endTime":3765.14,"body":"certain"},{"startTime":3765.14,"endTime":3765.508,"body":"environment,"},{"startTime":3765.508,"endTime":3765.876,"body":"provides"},{"startTime":3765.876,"endTime":3766.244,"body":"information"},{"startTime":3766.244,"endTime":3766.612,"body":"about"},{"startTime":3766.612,"endTime":3766.98,"body":"where"},{"startTime":3766.98,"endTime":3767.348,"body":"the"},{"startTime":3767.348,"endTime":3767.716,"body":"fundamental"},{"startTime":3767.716,"endTime":3768.084,"body":"value"},{"startTime":3768.084,"endTime":3768.452,"body":"should"},{"startTime":3768.452,"endTime":3768.82,"body":"sit."},{"startTime":3768.82,"endTime":3769.188,"body":"Whereas,"},{"startTime":3769.188,"endTime":3769.556,"body":"certainty"},{"startTime":3769.556,"endTime":3769.924,"body":"brings"},{"startTime":3769.924,"endTime":3770.292,"body":"you"},{"startTime":3770.292,"endTime":3770.66,"body":"back"},{"startTime":3770.66,"endTime":3771.028,"body":"to"},{"startTime":3771.028,"endTime":3771.396,"body":"your"},{"startTime":3771.396,"endTime":3771.764,"body":"prior,"},{"startTime":3771.764,"endTime":3772.132,"body":"which"},{"startTime":3772.132,"endTime":3772.5,"body":"is"},{"startTime":3772.5,"endTime":3772.868,"body":"very"},{"startTime":3772.868,"endTime":3773.236,"body":"informative"},{"startTime":3773.236,"endTime":3773.604,"body":"of"},{"startTime":3773.604,"endTime":3773.972,"body":"valuation."},{"startTime":3773.972,"endTime":3774.34,"body":"So,"},{"startTime":3774.34,"endTime":3774.708,"body":"I"},{"startTime":3774.708,"endTime":3775.076,"body":"think"},{"startTime":3775.076,"endTime":3775.444,"body":"this"},{"startTime":3775.444,"endTime":3775.812,"body":"is"},{"startTime":3775.812,"endTime":3776.18,"body":"the"},{"startTime":3776.18,"endTime":3776.548,"body":"dynamic,"},{"startTime":3776.548,"endTime":3776.916,"body":"at"},{"startTime":3776.916,"endTime":3777.284,"body":"least"},{"startTime":3777.284,"endTime":3777.652,"body":"in"},{"startTime":3777.652,"endTime":3778.02,"body":"my"},{"startTime":3778.02,"endTime":3778.388,"body":"mind,"},{"startTime":3778.388,"endTime":3778.756,"body":"that"},{"startTime":3778.756,"endTime":3779.124,"body":"the"},{"startTime":3779.124,"endTime":3779.492,"body":"Fed"},{"startTime":3779.492,"endTime":3779.86,"body":"was"},{"startTime":3779.86,"endTime":3780.228,"body":"bringing"},{"startTime":3780.228,"endTime":3780.596,"body":"to"},{"startTime":3780.596,"endTime":3780.964,"body":"the"},{"startTime":3780.964,"endTime":3781.332,"body":"trend"},{"startTime":3781.332,"endTime":3781.7,"body":"space"},{"startTime":3781.7,"endTime":3782.068,"body":"and"},{"startTime":3782.068,"endTime":3782.436,"body":"therefore"},{"startTime":3782.436,"endTime":3782.804,"body":"the"},{"startTime":3782.804,"endTime":3783.172,"body":"challenges"},{"startTime":3783.172,"endTime":3783.54,"body":"that"},{"startTime":3783.54,"endTime":3783.908,"body":"came"},{"startTime":3783.908,"endTime":3784.276,"body":"about."},{"startTime":3784.362,"endTime":3785.046,"body":"Absolutely."},{"startTime":3785.046,"endTime":3785.73,"body":"This"},{"startTime":3785.73,"endTime":3786.414,"body":"was"},{"startTime":3786.414,"endTime":3787.098,"body":"great,"},{"startTime":3787.098,"endTime":3787.782,"body":"Nick."},{"startTime":3787.782,"endTime":3788.466,"body":"Thank"},{"startTime":3788.466,"endTime":3789.15,"body":"you"},{"startTime":3789.15,"endTime":3789.834,"body":"so"},{"startTime":3789.834,"endTime":3790.518,"body":"much"},{"startTime":3790.518,"endTime":3791.202,"body":"for"},{"startTime":3791.202,"endTime":3791.886,"body":"spending"},{"startTime":3791.886,"endTime":3792.57,"body":"time"},{"startTime":3792.57,"endTime":3793.254,"body":"preparing"},{"startTime":3793.254,"endTime":3793.938,"body":"for"},{"startTime":3793.938,"endTime":3794.622,"body":"all"},{"startTime":3794.622,"endTime":3795.306,"body":"of"},{"startTime":3795.306,"endTime":3795.99,"body":"this,"},{"startTime":3795.99,"endTime":3796.674,"body":"finding"},{"startTime":3796.674,"endTime":3797.358,"body":"these"},{"startTime":3797.358,"endTime":3798.042,"body":"papers"},{"startTime":3798.042,"endTime":3798.726,"body":"and"},{"startTime":3798.726,"endTime":3799.41,"body":"discussing"},{"startTime":3799.41,"endTime":3800.094,"body":"them,"},{"startTime":3800.094,"endTime":3800.778,"body":"of"},{"startTime":3800.778,"endTime":3801.462,"body":"course."},{"startTime":3801.462,"endTime":3802.146,"body":"And"},{"startTime":3802.146,"endTime":3802.83,"body":"for"},{"startTime":3802.83,"endTime":3803.514,"body":"all"},{"startTime":3803.514,"endTime":3804.198,"body":"of"},{"startTime":3804.198,"endTime":3804.882,"body":"those"},{"startTime":3804.882,"endTime":3805.566,"body":"of"},{"startTime":3805.566,"endTime":3806.25,"body":"you"},{"startTime":3806.25,"endTime":3806.934,"body":"listening,"},{"startTime":3806.934,"endTime":3807.618,"body":"you"},{"startTime":3807.618,"endTime":3808.302,"body":"know,"},{"startTime":3808.302,"endTime":3808.986,"body":"feel"},{"startTime":3808.986,"endTime":3809.67,"body":"free"},{"startTime":3809.67,"endTime":3810.354,"body":"and"},{"startTime":3810.354,"endTime":3811.038,"body":"please"},{"startTime":3811.038,"endTime":3811.722,"body":"do"},{"startTime":3811.722,"endTime":3812.406,"body":"head"},{"startTime":3812.406,"endTime":3813.09,"body":"over"},{"startTime":3813.09,"endTime":3813.774,"body":"to"},{"startTime":3813.774,"endTime":3814.458,"body":"your"},{"startTime":3814.458,"endTime":3815.142,"body":"favorite"},{"startTime":3815.142,"endTime":3815.826,"body":"podcast"},{"startTime":3815.826,"endTime":3816.51,"body":"platform"},{"startTime":3816.51,"endTime":3817.194,"body":"or"},{"startTime":3817.194,"endTime":3817.878,"body":"YouTube"},{"startTime":3817.878,"endTime":3818.562,"body":"and"},{"startTime":3818.562,"endTime":3819.246,"body":"leave"},{"startTime":3819.246,"endTime":3819.93,"body":"a"},{"startTime":3819.93,"endTime":3820.614,"body":"rating"},{"startTime":3820.614,"endTime":3821.298,"body":"and"},{"startTime":3821.298,"endTime":3821.982,"body":"review"},{"startTime":3821.982,"endTime":3822.666,"body":"to"},{"startTime":3822.666,"endTime":3823.35,"body":"support"},{"startTime":3823.35,"endTime":3824.034,"body":"the"},{"startTime":3824.034,"endTime":3824.718,"body":"channel."},{"startTime":3824.718,"endTime":3825.402,"body":"But"},{"startTime":3825.402,"endTime":3826.086,"body":"also,"},{"startTime":3826.086,"endTime":3826.77,"body":"as"},{"startTime":3826.77,"endTime":3827.454,"body":"a"},{"startTime":3827.454,"endTime":3828.138,"body":"thank"},{"startTime":3828.138,"endTime":3828.822,"body":"you"},{"startTime":3828.822,"endTime":3829.506,"body":"to"},{"startTime":3829.506,"endTime":3830.19,"body":"Nick"},{"startTime":3830.19,"endTime":3830.874,"body":"and"},{"startTime":3830.874,"endTime":3831.558,"body":"all"},{"startTime":3831.558,"endTime":3832.242,"body":"the"},{"startTime":3832.242,"endTime":3832.926,"body":"other"},{"startTime":3832.926,"endTime":3833.61,"body":"co-hosts"},{"startTime":3833.61,"endTime":3834.294,"body":"who"},{"startTime":3834.294,"endTime":3834.978,"body":"do"},{"startTime":3834.978,"endTime":3835.662,"body":"a"},{"startTime":3835.662,"endTime":3836.346,"body":"tremendous"},{"startTime":3836.346,"endTime":3837.03,"body":"job"},{"startTime":3837.03,"endTime":3837.714,"body":"every"},{"startTime":3837.714,"endTime":3838.398,"body":"week"},{"startTime":3838.398,"endTime":3839.082,"body":"in"},{"startTime":3839.082,"endTime":3839.766,"body":"preparing"},{"startTime":3839.766,"endTime":3840.45,"body":"for"},{"startTime":3840.45,"endTime":3841.134,"body":"these"},{"startTime":3841.134,"endTime":3841.818,"body":"conversations."},{"startTime":3784.362,"endTime":3786.756,"body":"\rBeforeI"},{"startTime":3786.756,"endTime":3787.953,"body":"wrap"},{"startTime":3787.953,"endTime":3789.15,"body":"up,"},{"startTime":3789.15,"endTime":3790.347,"body":"let"},{"startTime":3790.347,"endTime":3791.544,"body":"me"},{"startTime":3791.544,"endTime":3792.741,"body":"just"},{"startTime":3792.741,"endTime":3793.938,"body":"say"},{"startTime":3793.938,"endTime":3795.135,"body":"that"},{"startTime":3795.135,"endTime":3796.332,"body":"if"},{"startTime":3796.332,"endTime":3797.529,"body":"you"},{"startTime":3797.529,"endTime":3798.726,"body":"have"},{"startTime":3798.726,"endTime":3799.923,"body":"questions"},{"startTime":3799.923,"endTime":3801.12,"body":"for"},{"startTime":3801.12,"endTime":3802.317,"body":"next"},{"startTime":3802.317,"endTime":3803.514,"body":"week,"},{"startTime":3803.514,"endTime":3804.711,"body":"which"},{"startTime":3804.711,"endTime":3805.908,"body":"is"},{"startTime":3805.908,"endTime":3807.105,"body":"where"},{"startTime":3807.105,"endTime":3808.302,"body":"I"},{"startTime":3808.302,"endTime":3809.499,"body":"will"},{"startTime":3809.499,"endTime":3810.696,"body":"be"},{"startTime":3810.696,"endTime":3811.893,"body":"joined"},{"startTime":3811.893,"endTime":3813.09,"body":"by"},{"startTime":3813.09,"endTime":3814.287,"body":"Yoav,"},{"startTime":3814.287,"endTime":3815.484,"body":"then"},{"startTime":3815.484,"endTime":3816.681,"body":"send"},{"startTime":3816.681,"endTime":3817.878,"body":"them"},{"startTime":3817.878,"endTime":3819.075,"body":"to"},{"startTime":3819.075,"endTime":3820.272,"body":"info@toptradersunplugged.com,"},{"startTime":3820.272,"endTime":3821.469,"body":"just"},{"startTime":3821.469,"endTime":3822.666,"body":"like"},{"startTime":3822.666,"endTime":3823.863,"body":"Tim"},{"startTime":3823.863,"endTime":3825.06,"body":"did"},{"startTime":3825.06,"endTime":3826.257,"body":"this"},{"startTime":3826.257,"endTime":3827.454,"body":"week,"},{"startTime":3827.454,"endTime":3828.651,"body":"and"},{"startTime":3828.651,"endTime":3829.848,"body":"I'll"},{"startTime":3829.848,"endTime":3831.045,"body":"do"},{"startTime":3831.045,"endTime":3832.242,"body":"my"},{"startTime":3832.242,"endTime":3833.439,"body":"best"},{"startTime":3833.439,"endTime":3834.636,"body":"to"},{"startTime":3834.636,"endTime":3835.833,"body":"bring"},{"startTime":3835.833,"endTime":3837.03,"body":"it"},{"startTime":3837.03,"endTime":3838.227,"body":"up"},{"startTime":3838.227,"endTime":3839.424,"body":"in"},{"startTime":3839.424,"endTime":3840.621,"body":"our"},{"startTime":3840.621,"endTime":3841.818,"body":"conversation."},{"startTime":3784.362,"endTime":3787.236,"body":"\rWiththat"},{"startTime":3787.236,"endTime":3788.673,"body":"said,"},{"startTime":3788.673,"endTime":3790.11,"body":"from"},{"startTime":3790.11,"endTime":3791.547,"body":"Nick"},{"startTime":3791.547,"endTime":3792.984,"body":"and"},{"startTime":3792.984,"endTime":3794.421,"body":"me,"},{"startTime":3794.421,"endTime":3795.858,"body":"thank"},{"startTime":3795.858,"endTime":3797.295,"body":"you"},{"startTime":3797.295,"endTime":3798.732,"body":"ever"},{"startTime":3798.732,"endTime":3800.169,"body":"so"},{"startTime":3800.169,"endTime":3801.606,"body":"much"},{"startTime":3801.606,"endTime":3803.043,"body":"for"},{"startTime":3803.043,"endTime":3804.48,"body":"listening."},{"startTime":3804.48,"endTime":3805.917,"body":"We"},{"startTime":3805.917,"endTime":3807.354,"body":"look"},{"startTime":3807.354,"endTime":3808.791,"body":"forward"},{"startTime":3808.791,"endTime":3810.228,"body":"to"},{"startTime":3810.228,"endTime":3811.665,"body":"being"},{"startTime":3811.665,"endTime":3813.102,"body":"back"},{"startTime":3813.102,"endTime":3814.539,"body":"with"},{"startTime":3814.539,"endTime":3815.976,"body":"you"},{"startTime":3815.976,"endTime":3817.413,"body":"next"},{"startTime":3817.413,"endTime":3818.85,"body":"week."},{"startTime":3818.85,"endTime":3820.287,"body":"And"},{"startTime":3820.287,"endTime":3821.724,"body":"until"},{"startTime":3821.724,"endTime":3823.161,"body":"next"},{"startTime":3823.161,"endTime":3824.598,"body":"time,"},{"startTime":3824.598,"endTime":3826.035,"body":"as"},{"startTime":3826.035,"endTime":3827.472,"body":"usual,"},{"startTime":3827.472,"endTime":3828.909,"body":"take"},{"startTime":3828.909,"endTime":3830.346,"body":"care"},{"startTime":3830.346,"endTime":3831.783,"body":"of"},{"startTime":3831.783,"endTime":3833.22,"body":"yourself"},{"startTime":3833.22,"endTime":3834.657,"body":"and"},{"startTime":3834.657,"endTime":3836.094,"body":"take"},{"startTime":3836.094,"endTime":3837.531,"body":"care"},{"startTime":3837.531,"endTime":3838.968,"body":"of"},{"startTime":3838.968,"endTime":3840.405,"body":"each"},{"startTime":3840.405,"endTime":3841.842,"body":"other."},{"startTime":3842.802,"endTime":3843.465,"body":"Thanks"},{"startTime":3843.465,"endTime":3844.128,"body":"for"},{"startTime":3844.128,"endTime":3844.791,"body":"listening"},{"startTime":3844.791,"endTime":3845.454,"body":"to"},{"startTime":3845.454,"endTime":3846.117,"body":"the"},{"startTime":3846.117,"endTime":3846.78,"body":"Systematic"},{"startTime":3846.78,"endTime":3847.443,"body":"Investor"},{"startTime":3847.443,"endTime":3848.106,"body":"podcast"},{"startTime":3848.106,"endTime":3848.769,"body":"series."},{"startTime":3848.769,"endTime":3849.432,"body":"If"},{"startTime":3849.432,"endTime":3850.095,"body":"you"},{"startTime":3850.095,"endTime":3850.758,"body":"enjoy"},{"startTime":3850.758,"endTime":3851.421,"body":"this"},{"startTime":3851.421,"endTime":3852.084,"body":"series,"},{"startTime":3852.084,"endTime":3852.747,"body":"go"},{"startTime":3852.747,"endTime":3853.41,"body":"on"},{"startTime":3853.41,"endTime":3854.073,"body":"over"},{"startTime":3854.073,"endTime":3854.736,"body":"to"},{"startTime":3854.736,"endTime":3855.399,"body":"iTunes"},{"startTime":3855.399,"endTime":3856.062,"body":"and"},{"startTime":3856.062,"endTime":3856.725,"body":"leave"},{"startTime":3856.725,"endTime":3857.388,"body":"an"},{"startTime":3857.388,"endTime":3858.051,"body":"honest"},{"startTime":3858.051,"endTime":3858.714,"body":"rating"},{"startTime":3858.714,"endTime":3859.377,"body":"and"},{"startTime":3859.377,"endTime":3860.04,"body":"review"},{"startTime":3860.04,"endTime":3860.703,"body":"and"},{"startTime":3860.703,"endTime":3861.366,"body":"be"},{"startTime":3861.366,"endTime":3862.029,"body":"sure"},{"startTime":3862.029,"endTime":3862.692,"body":"to"},{"startTime":3862.692,"endTime":3863.355,"body":"listen"},{"startTime":3863.355,"endTime":3864.018,"body":"to"},{"startTime":3864.018,"endTime":3864.681,"body":"all"},{"startTime":3864.681,"endTime":3865.344,"body":"the"},{"startTime":3865.344,"endTime":3866.007,"body":"other"},{"startTime":3866.007,"endTime":3866.67,"body":"episodes"},{"startTime":3866.67,"endTime":3867.333,"body":"from"},{"startTime":3867.333,"endTime":3867.996,"body":"Top"},{"startTime":3867.996,"endTime":3868.659,"body":"Traders"},{"startTime":3868.659,"endTime":3869.322,"body":"Unplugged."},{"startTime":3869.322,"endTime":3869.985,"body":"If"},{"startTime":3869.985,"endTime":3870.648,"body":"you"},{"startTime":3870.648,"endTime":3871.311,"body":"have"},{"startTime":3871.311,"endTime":3871.974,"body":"questions"},{"startTime":3871.974,"endTime":3872.637,"body":"about"},{"startTime":3872.637,"endTime":3873.3,"body":"systematic"},{"startTime":3873.3,"endTime":3873.963,"body":"investing,"},{"startTime":3873.963,"endTime":3874.626,"body":"send"},{"startTime":3874.626,"endTime":3875.289,"body":"us"},{"startTime":3875.289,"endTime":3875.952,"body":"an"},{"startTime":3875.952,"endTime":3876.615,"body":"email"},{"startTime":3876.615,"endTime":3877.278,"body":"with"},{"startTime":3877.278,"endTime":3877.941,"body":"the"},{"startTime":3877.941,"endTime":3878.604,"body":"word"},{"startTime":3878.604,"endTime":3879.267,"body":"question"},{"startTime":3879.267,"endTime":3879.93,"body":"in"},{"startTime":3879.93,"endTime":3880.593,"body":"the"},{"startTime":3880.593,"endTime":3881.256,"body":"subject"},{"startTime":3881.256,"endTime":3881.919,"body":"line"},{"startTime":3881.919,"endTime":3882.582,"body":"to"},{"startTime":3882.582,"endTime":3883.245,"body":"info@ptoptradersunplugged.com"},{"startTime":3883.245,"endTime":3883.908,"body":"and"},{"startTime":3883.908,"endTime":3884.571,"body":"we'll"},{"startTime":3884.571,"endTime":3885.234,"body":"try"},{"startTime":3885.234,"endTime":3885.897,"body":"to"},{"startTime":3885.897,"endTime":3886.56,"body":"get"},{"startTime":3886.56,"endTime":3887.223,"body":"it"},{"startTime":3887.223,"endTime":3887.886,"body":"on"},{"startTime":3887.886,"endTime":3888.549,"body":"the"},{"startTime":3888.549,"endTime":3889.212,"body":"show."},{"startTime":3842.802,"endTime":3843.868,"body":"\rAndremember,"},{"startTime":3843.868,"endTime":3844.401,"body":"all"},{"startTime":3844.401,"endTime":3844.934,"body":"the"},{"startTime":3844.934,"endTime":3845.467,"body":"discussion"},{"startTime":3845.467,"endTime":3846,"body":"that"},{"startTime":3846,"endTime":3846.533,"body":"we"},{"startTime":3846.533,"endTime":3847.066,"body":"have"},{"startTime":3847.066,"endTime":3847.599,"body":"about"},{"startTime":3847.599,"endTime":3848.132,"body":"investment"},{"startTime":3848.132,"endTime":3848.665,"body":"performance"},{"startTime":3848.665,"endTime":3849.198,"body":"is"},{"startTime":3849.198,"endTime":3849.731,"body":"about"},{"startTime":3849.731,"endTime":3850.264,"body":"the"},{"startTime":3850.264,"endTime":3850.797,"body":"past,"},{"startTime":3850.797,"endTime":3851.33,"body":"and"},{"startTime":3851.33,"endTime":3851.863,"body":"past"},{"startTime":3851.863,"endTime":3852.396,"body":"performance"},{"startTime":3852.396,"endTime":3852.929,"body":"does"},{"startTime":3852.929,"endTime":3853.462,"body":"not"},{"startTime":3853.462,"endTime":3853.995,"body":"guarantee"},{"startTime":3853.995,"endTime":3854.528,"body":"or"},{"startTime":3854.528,"endTime":3855.061,"body":"even"},{"startTime":3855.061,"endTime":3855.594,"body":"infer"},{"startTime":3855.594,"endTime":3856.127,"body":"anything"},{"startTime":3856.127,"endTime":3856.66,"body":"about"},{"startTime":3856.66,"endTime":3857.193,"body":"future"},{"startTime":3857.193,"endTime":3857.726,"body":"performance."},{"startTime":3857.726,"endTime":3858.259,"body":"Also"},{"startTime":3858.259,"endTime":3858.792,"body":"understand"},{"startTime":3858.792,"endTime":3859.325,"body":"that"},{"startTime":3859.325,"endTime":3859.858,"body":"there"},{"startTime":3859.858,"endTime":3860.391,"body":"is"},{"startTime":3860.391,"endTime":3860.924,"body":"a"},{"startTime":3860.924,"endTime":3861.457,"body":"significant"},{"startTime":3861.457,"endTime":3861.99,"body":"risk"},{"startTime":3861.99,"endTime":3862.523,"body":"of"},{"startTime":3862.523,"endTime":3863.056,"body":"financial"},{"startTime":3863.056,"endTime":3863.589,"body":"loss"},{"startTime":3863.589,"endTime":3864.122,"body":"with"},{"startTime":3864.122,"endTime":3864.655,"body":"all"},{"startTime":3864.655,"endTime":3865.188,"body":"investment"},{"startTime":3865.188,"endTime":3865.721,"body":"strategies"},{"startTime":3865.721,"endTime":3866.254,"body":"and"},{"startTime":3866.254,"endTime":3866.787,"body":"you"},{"startTime":3866.787,"endTime":3867.32,"body":"need"},{"startTime":3867.32,"endTime":3867.853,"body":"to"},{"startTime":3867.853,"endTime":3868.386,"body":"request"},{"startTime":3868.386,"endTime":3868.919,"body":"and"},{"startTime":3868.919,"endTime":3869.452,"body":"understand"},{"startTime":3869.452,"endTime":3869.985,"body":"the"},{"startTime":3869.985,"endTime":3870.518,"body":"specific"},{"startTime":3870.518,"endTime":3871.051,"body":"risks"},{"startTime":3871.051,"endTime":3871.584,"body":"from"},{"startTime":3871.584,"endTime":3872.117,"body":"the"},{"startTime":3872.117,"endTime":3872.65,"body":"investment"},{"startTime":3872.65,"endTime":3873.183,"body":"manager"},{"startTime":3873.183,"endTime":3873.716,"body":"about"},{"startTime":3873.716,"endTime":3874.249,"body":"their"},{"startTime":3874.249,"endTime":3874.782,"body":"products"},{"startTime":3874.782,"endTime":3875.315,"body":"before"},{"startTime":3875.315,"endTime":3875.848,"body":"you"},{"startTime":3875.848,"endTime":3876.381,"body":"make"},{"startTime":3876.381,"endTime":3876.914,"body":"investment"},{"startTime":3876.914,"endTime":3877.447,"body":"decisions."},{"startTime":3877.447,"endTime":3877.98,"body":"Thanks"},{"startTime":3877.98,"endTime":3878.513,"body":"for"},{"startTime":3878.513,"endTime":3879.046,"body":"spending"},{"startTime":3879.046,"endTime":3879.579,"body":"some"},{"startTime":3879.579,"endTime":3880.112,"body":"of"},{"startTime":3880.112,"endTime":3880.645,"body":"your"},{"startTime":3880.645,"endTime":3881.178,"body":"valuable"},{"startTime":3881.178,"endTime":3881.711,"body":"time"},{"startTime":3881.711,"endTime":3882.244,"body":"with"},{"startTime":3882.244,"endTime":3882.777,"body":"us."},{"startTime":3882.777,"endTime":3883.31,"body":"And"},{"startTime":3883.31,"endTime":3883.843,"body":"we'll"},{"startTime":3883.843,"endTime":3884.376,"body":"see"},{"startTime":3884.376,"endTime":3884.909,"body":"you"},{"startTime":3884.909,"endTime":3885.442,"body":"on"},{"startTime":3885.442,"endTime":3885.975,"body":"the"},{"startTime":3885.975,"endTime":3886.508,"body":"next"},{"startTime":3886.508,"endTime":3887.041,"body":"episode"},{"startTime":3887.041,"endTime":3887.574,"body":"of"},{"startTime":3887.574,"endTime":3888.107,"body":"the"},{"startTime":3888.107,"endTime":3888.64,"body":"Systematic"},{"startTime":3888.64,"endTime":3889.173,"body":"Investor."}]}