{
  "speakers": [
    {
      "name": "Speaker 1"
    },
    {
      "name": "Speaker 2"
    },
    {
      "name": "Speaker 3"
    },
    {
      "name": "Speaker 4"
    },
    {
      "name": "Speaker 5"
    },
    {
      "name": "Speaker 6"
    },
    {
      "name": "Speaker 7"
    },
    {
      "name": "Speaker 8"
    }
  ],
  "segments": [
    {
      "speaker": 0,
      "words": [
        {
          "start": 0.16,
          "end": 0.44,
          "text": "Hello,"
        },
        {
          "start": 0.48,
          "end": 0.72,
          "text": "Odd"
        },
        {
          "start": 0.72,
          "end": 0.96,
          "text": "Lots"
        },
        {
          "start": 1.0,
          "end": 1.4,
          "text": "listeners."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1.44,
          "end": 1.56,
          "text": "I'm"
        },
        {
          "start": 1.64,
          "end": 1.84,
          "text": "Joe"
        },
        {
          "start": 1.84,
          "end": 2.4,
          "text": "Wisenthal"
        },
        {
          "start": 2.56,
          "end": 2.64,
          "text": "and"
        },
        {
          "start": 2.68,
          "end": 2.84,
          "text": "I'm"
        },
        {
          "start": 2.88,
          "end": 3.2,
          "text": "Tracy"
        },
        {
          "start": 3.24,
          "end": 3.68,
          "text": "Alloway."
        },
        {
          "start": 3.84,
          "end": 4.16,
          "text": "Tracy,"
        },
        {
          "start": 4.2,
          "end": 4.36,
          "text": "We're"
        },
        {
          "start": 4.4,
          "end": 4.6,
          "text": "doing"
        },
        {
          "start": 4.68,
          "end": 5.04,
          "text": "another"
        },
        {
          "start": 5.2,
          "end": 5.44,
          "text": "live"
        },
        {
          "start": 5.48,
          "end": 5.68,
          "text": "show"
        },
        {
          "start": 5.68,
          "end": 5.76,
          "text": "and"
        },
        {
          "start": 5.8,
          "end": 5.92,
          "text": "it's"
        },
        {
          "start": 6.0,
          "end": 6.12,
          "text": "right"
        },
        {
          "start": 6.12,
          "end": 6.28,
          "text": "here"
        },
        {
          "start": 6.28,
          "end": 6.36,
          "text": "in"
        },
        {
          "start": 6.36,
          "end": 6.44,
          "text": "New"
        },
        {
          "start": 6.52,
          "end": 6.68,
          "text": "York"
        },
        {
          "start": 6.72,
          "end": 6.96,
          "text": "City."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 7.16,
          "end": 7.48,
          "text": "Yeah,"
        },
        {
          "start": 7.52,
          "end": 7.68,
          "text": "this"
        },
        {
          "start": 7.72,
          "end": 7.96,
          "text": "one"
        },
        {
          "start": 8.0,
          "end": 8.32,
          "text": "should"
        },
        {
          "start": 8.36,
          "end": 8.48,
          "text": "be"
        },
        {
          "start": 8.64,
          "end": 8.84,
          "text": "our"
        },
        {
          "start": 8.92,
          "end": 9.36,
          "text": "biggest"
        },
        {
          "start": 9.44,
          "end": 9.68,
          "text": "yet,"
        },
        {
          "start": 9.84,
          "end": 9.92,
          "text": "and"
        },
        {
          "start": 9.96,
          "end": 10.16,
          "text": "we're"
        },
        {
          "start": 10.16,
          "end": 10.24,
          "text": "going"
        },
        {
          "start": 10.32,
          "end": 10.4,
          "text": "to"
        },
        {
          "start": 10.44,
          "end": 10.56,
          "text": "have"
        },
        {
          "start": 10.68,
          "end": 10.76,
          "text": "a"
        },
        {
          "start": 10.8,
          "end": 11.04,
          "text": "bunch"
        },
        {
          "start": 11.04,
          "end": 11.08,
          "text": "of"
        },
        {
          "start": 11.16,
          "end": 11.36,
          "text": "Odd"
        },
        {
          "start": 11.36,
          "end": 11.64,
          "text": "Lots"
        },
        {
          "start": 11.72,
          "end": 12.24,
          "text": "favorites"
        },
        {
          "start": 12.4,
          "end": 12.56,
          "text": "and"
        },
        {
          "start": 12.84,
          "end": 12.92,
          "text": "do"
        },
        {
          "start": 13.08,
          "end": 13.4,
          "text": "something"
        },
        {
          "start": 13.64,
          "end": 13.88,
          "text": "maybe"
        },
        {
          "start": 13.92,
          "end": 14.0,
          "text": "a"
        },
        {
          "start": 14.0,
          "end": 14.28,
          "text": "little"
        },
        {
          "start": 14.32,
          "end": 14.72,
          "text": "different"
        },
        {
          "start": 14.8,
          "end": 14.88,
          "text": "to"
        },
        {
          "start": 15.08,
          "end": 15.2,
          "text": "some"
        },
        {
          "start": 15.28,
          "end": 15.36,
          "text": "of"
        },
        {
          "start": 15.4,
          "end": 15.6,
          "text": "our"
        },
        {
          "start": 15.64,
          "end": 16.16,
          "text": "previous"
        },
        {
          "start": 16.56,
          "end": 16.8,
          "text": "live"
        },
        {
          "start": 16.88,
          "end": 17.32,
          "text": "podcast"
        },
        {
          "start": 17.36,
          "end": 17.92,
          "text": "recordings."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 17.96,
          "end": 18.16,
          "text": "When"
        },
        {
          "start": 18.16,
          "end": 18.24,
          "text": "the"
        },
        {
          "start": 18.32,
          "end": 18.68,
          "text": "guests"
        },
        {
          "start": 18.8,
          "end": 18.96,
          "text": "are"
        },
        {
          "start": 19.0,
          "end": 19.56,
          "text": "revealed,"
        },
        {
          "start": 19.84,
          "end": 20.04,
          "text": "the"
        },
        {
          "start": 20.2,
          "end": 20.44,
          "text": "show"
        },
        {
          "start": 20.52,
          "end": 20.56,
          "text": "is"
        },
        {
          "start": 20.56,
          "end": 20.72,
          "text": "going"
        },
        {
          "start": 20.72,
          "end": 20.8,
          "text": "to"
        },
        {
          "start": 20.84,
          "end": 21.0,
          "text": "sell"
        },
        {
          "start": 21.04,
          "end": 21.16,
          "text": "out"
        },
        {
          "start": 21.24,
          "end": 21.36,
          "text": "right"
        },
        {
          "start": 21.36,
          "end": 21.56,
          "text": "away,"
        },
        {
          "start": 21.64,
          "end": 21.68,
          "text": "so"
        },
        {
          "start": 21.72,
          "end": 21.76,
          "text": "you"
        },
        {
          "start": 21.76,
          "end": 22.04,
          "text": "should"
        },
        {
          "start": 22.08,
          "end": 22.28,
          "text": "really"
        },
        {
          "start": 22.32,
          "end": 22.4,
          "text": "just"
        },
        {
          "start": 22.44,
          "end": 22.52,
          "text": "go"
        },
        {
          "start": 22.56,
          "end": 22.68,
          "text": "get"
        },
        {
          "start": 22.72,
          "end": 22.8,
          "text": "your"
        },
        {
          "start": 22.84,
          "end": 23.2,
          "text": "ticket"
        },
        {
          "start": 23.32,
          "end": 23.52,
          "text": "right"
        },
        {
          "start": 23.6,
          "end": 23.92,
          "text": "now."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 24.28,
          "end": 24.4,
          "text": "It's"
        },
        {
          "start": 24.52,
          "end": 24.76,
          "text": "June"
        },
        {
          "start": 24.8,
          "end": 25.08,
          "text": "twenty"
        },
        {
          "start": 25.12,
          "end": 25.48,
          "text": "sixth."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 25.48,
          "end": 25.68,
          "text": "It's"
        },
        {
          "start": 25.68,
          "end": 25.8,
          "text": "at"
        },
        {
          "start": 25.84,
          "end": 26.2,
          "text": "Recket,"
        },
        {
          "start": 26.28,
          "end": 26.64,
          "text": "NYC,"
        },
        {
          "start": 26.92,
          "end": 27.0,
          "text": "and"
        },
        {
          "start": 27.04,
          "end": 27.16,
          "text": "you"
        },
        {
          "start": 27.2,
          "end": 27.36,
          "text": "can"
        },
        {
          "start": 27.4,
          "end": 27.68,
          "text": "find"
        },
        {
          "start": 27.68,
          "end": 27.76,
          "text": "a"
        },
        {
          "start": 27.8,
          "end": 28.12,
          "text": "ticket"
        },
        {
          "start": 28.12,
          "end": 28.28,
          "text": "link"
        },
        {
          "start": 28.32,
          "end": 28.4,
          "text": "at"
        },
        {
          "start": 28.4,
          "end": 28.88,
          "text": "Bloomberg"
        },
        {
          "start": 28.88,
          "end": 29.08,
          "text": "dot"
        },
        {
          "start": 29.08,
          "end": 29.32,
          "text": "com"
        },
        {
          "start": 29.32,
          "end": 29.68,
          "text": "slash"
        },
        {
          "start": 29.68,
          "end": 29.92,
          "text": "odd"
        },
        {
          "start": 29.96,
          "end": 30.24,
          "text": "Lots"
        },
        {
          "start": 30.56,
          "end": 30.6,
          "text": "or"
        },
        {
          "start": 30.64,
          "end": 31.16,
          "text": "Bloomberg"
        },
        {
          "start": 31.16,
          "end": 31.52,
          "text": "Events"
        },
        {
          "start": 31.52,
          "end": 31.76,
          "text": "dot"
        },
        {
          "start": 31.8,
          "end": 32.12,
          "text": "com"
        },
        {
          "start": 32.12,
          "end": 32.52,
          "text": "slash"
        },
        {
          "start": 32.56,
          "end": 32.8,
          "text": "odd"
        },
        {
          "start": 32.84,
          "end": 33.16,
          "text": "Lots"
        },
        {
          "start": 33.2,
          "end": 33.44,
          "text": "Live"
        },
        {
          "start": 33.48,
          "end": 33.6,
          "text": "and"
        },
        {
          "start": 33.64,
          "end": 34.2,
          "text": "why."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 34.08,
          "end": 34.16,
          "text": "We"
        },
        {
          "start": 34.24,
          "end": 34.44,
          "text": "hope"
        },
        {
          "start": 34.48,
          "end": 34.52,
          "text": "to"
        },
        {
          "start": 34.56,
          "end": 34.76,
          "text": "see"
        },
        {
          "start": 34.8,
          "end": 34.88,
          "text": "you"
        },
        {
          "start": 34.92,
          "end": 35.12,
          "text": "there."
        }
      ]
    },
    {
      "speaker": 3,
      "words": [
        {
          "start": 38.0,
          "end": 38.6,
          "text": "Bloomberg"
        },
        {
          "start": 38.68,
          "end": 39.08,
          "text": "Audio"
        },
        {
          "start": 39.12,
          "end": 39.76,
          "text": "Studios,"
        },
        {
          "start": 40.16,
          "end": 40.92,
          "text": "Podcasts,"
        },
        {
          "start": 41.28,
          "end": 41.64,
          "text": "Radio"
        },
        {
          "start": 42.2,
          "end": 53.24,
          "text": "News."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 53.52,
          "end": 53.84,
          "text": "Hello"
        },
        {
          "start": 53.92,
          "end": 53.96,
          "text": "and"
        },
        {
          "start": 54.12,
          "end": 54.52,
          "text": "welcome"
        },
        {
          "start": 54.56,
          "end": 54.64,
          "text": "to"
        },
        {
          "start": 54.68,
          "end": 54.96,
          "text": "another"
        },
        {
          "start": 55.0,
          "end": 55.44,
          "text": "episode"
        },
        {
          "start": 55.44,
          "end": 55.52,
          "text": "of"
        },
        {
          "start": 55.56,
          "end": 55.64,
          "text": "the"
        },
        {
          "start": 55.64,
          "end": 56.08,
          "text": "Authoughts"
        },
        {
          "start": 56.16,
          "end": 56.68,
          "text": "podcast."
        },
        {
          "start": 56.8,
          "end": 57.0,
          "text": "I'm"
        },
        {
          "start": 57.04,
          "end": 57.4,
          "text": "Tracy"
        },
        {
          "start": 57.4,
          "end": 58.28,
          "text": "Alloway."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 57.96,
          "end": 58.04,
          "text": "And"
        },
        {
          "start": 58.08,
          "end": 58.24,
          "text": "I'm"
        },
        {
          "start": 58.32,
          "end": 58.52,
          "text": "Joe"
        },
        {
          "start": 58.56,
          "end": 59.12,
          "text": "Wisenthal."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 59.6,
          "end": 60.08,
          "text": "Joe,"
        },
        {
          "start": 60.2,
          "end": 60.4,
          "text": "did"
        },
        {
          "start": 60.44,
          "end": 60.52,
          "text": "you,"
        },
        {
          "start": 60.8,
          "end": 61.0,
          "text": "at"
        },
        {
          "start": 61.04,
          "end": 61.12,
          "text": "some"
        },
        {
          "start": 61.36,
          "end": 61.68,
          "text": "point"
        },
        {
          "start": 61.8,
          "end": 62.12,
          "text": "last"
        },
        {
          "start": 62.2,
          "end": 62.48,
          "text": "month"
        },
        {
          "start": 63.2,
          "end": 63.44,
          "text": "when"
        },
        {
          "start": 63.88,
          "end": 64.32,
          "text": "markets"
        },
        {
          "start": 64.36,
          "end": 64.52,
          "text": "were"
        },
        {
          "start": 64.6,
          "end": 64.84,
          "text": "being"
        },
        {
          "start": 65.04,
          "end": 65.2,
          "text": "very,"
        },
        {
          "start": 65.28,
          "end": 65.4,
          "text": "very"
        },
        {
          "start": 65.52,
          "end": 66.0,
          "text": "dramatic,"
        },
        {
          "start": 66.32,
          "end": 66.52,
          "text": "did"
        },
        {
          "start": 66.52,
          "end": 66.64,
          "text": "you"
        },
        {
          "start": 66.88,
          "end": 67.2,
          "text": "maybe"
        },
        {
          "start": 67.36,
          "end": 67.6,
          "text": "hear"
        },
        {
          "start": 67.84,
          "end": 67.92,
          "text": "that"
        },
        {
          "start": 68.0,
          "end": 68.08,
          "text": "a"
        },
        {
          "start": 68.12,
          "end": 68.4,
          "text": "pod"
        },
        {
          "start": 68.6,
          "end": 68.68,
          "text": "was"
        },
        {
          "start": 68.72,
          "end": 69.08,
          "text": "blowing"
        },
        {
          "start": 69.16,
          "end": 69.32,
          "text": "up?"
        },
        {
          "start": 70.36,
          "end": 70.76,
          "text": "Maybe"
        },
        {
          "start": 70.84,
          "end": 70.92,
          "text": "just"
        },
        {
          "start": 71.0,
          "end": 71.88,
          "text": "maybe."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 71.68,
          "end": 71.76,
          "text": "I"
        },
        {
          "start": 71.88,
          "end": 72.32,
          "text": "probably"
        },
        {
          "start": 72.36,
          "end": 72.56,
          "text": "saw"
        },
        {
          "start": 72.6,
          "end": 72.76,
          "text": "some"
        },
        {
          "start": 72.8,
          "end": 73.32,
          "text": "tweets,"
        },
        {
          "start": 73.72,
          "end": 74.24,
          "text": "probably"
        },
        {
          "start": 74.4,
          "end": 74.68,
          "text": "tongue"
        },
        {
          "start": 74.72,
          "end": 74.8,
          "text": "in"
        },
        {
          "start": 74.88,
          "end": 75.2,
          "text": "cheek."
        },
        {
          "start": 75.52,
          "end": 75.64,
          "text": "I"
        },
        {
          "start": 75.68,
          "end": 75.84,
          "text": "may"
        },
        {
          "start": 75.88,
          "end": 76.0,
          "text": "have"
        },
        {
          "start": 76.04,
          "end": 76.24,
          "text": "sent"
        },
        {
          "start": 76.32,
          "end": 76.44,
          "text": "some"
        },
        {
          "start": 76.52,
          "end": 76.92,
          "text": "dms"
        },
        {
          "start": 76.96,
          "end": 77.04,
          "text": "to"
        },
        {
          "start": 77.12,
          "end": 77.48,
          "text": "people"
        },
        {
          "start": 77.52,
          "end": 77.84,
          "text": "saying"
        },
        {
          "start": 78.08,
          "end": 78.52,
          "text": "jokingly,"
        },
        {
          "start": 78.56,
          "end": 78.6,
          "text": "have"
        },
        {
          "start": 78.64,
          "end": 78.68,
          "text": "you"
        },
        {
          "start": 78.76,
          "end": 78.88,
          "text": "heard"
        },
        {
          "start": 78.88,
          "end": 78.92,
          "text": "of"
        },
        {
          "start": 78.96,
          "end": 79.16,
          "text": "any"
        },
        {
          "start": 79.2,
          "end": 79.48,
          "text": "pods"
        },
        {
          "start": 79.52,
          "end": 79.8,
          "text": "blowing"
        },
        {
          "start": 79.88,
          "end": 80.04,
          "text": "up?"
        },
        {
          "start": 80.44,
          "end": 80.52,
          "text": "But"
        },
        {
          "start": 80.64,
          "end": 80.72,
          "text": "no,"
        },
        {
          "start": 80.8,
          "end": 80.96,
          "text": "it's"
        },
        {
          "start": 81.0,
          "end": 81.24,
          "text": "become"
        },
        {
          "start": 81.32,
          "end": 81.52,
          "text": "such"
        },
        {
          "start": 81.52,
          "end": 81.64,
          "text": "a"
        },
        {
          "start": 81.68,
          "end": 81.92,
          "text": "meme."
        },
        {
          "start": 82.12,
          "end": 82.68,
          "text": "Anytime"
        },
        {
          "start": 82.76,
          "end": 82.84,
          "text": "like"
        },
        {
          "start": 82.88,
          "end": 82.96,
          "text": "the"
        },
        {
          "start": 82.96,
          "end": 83.28,
          "text": "market"
        },
        {
          "start": 83.32,
          "end": 83.6,
          "text": "moves"
        },
        {
          "start": 83.6,
          "end": 83.76,
          "text": "half"
        },
        {
          "start": 83.84,
          "end": 83.92,
          "text": "a"
        },
        {
          "start": 83.96,
          "end": 84.28,
          "text": "percent,"
        },
        {
          "start": 84.88,
          "end": 85.68,
          "text": "I imagine"
        },
        {
          "start": 85.56,
          "end": 85.64,
          "text": "some"
        },
        {
          "start": 85.72,
          "end": 86.04,
          "text": "pods"
        },
        {
          "start": 86.04,
          "end": 86.2,
          "text": "did"
        },
        {
          "start": 86.2,
          "end": 86.4,
          "text": "blow"
        },
        {
          "start": 86.48,
          "end": 86.64,
          "text": "up."
        },
        {
          "start": 86.92,
          "end": 87.0,
          "text": "But"
        },
        {
          "start": 87.08,
          "end": 87.16,
          "text": "it"
        },
        {
          "start": 87.24,
          "end": 87.32,
          "text": "is"
        },
        {
          "start": 87.32,
          "end": 87.4,
          "text": "a"
        },
        {
          "start": 87.44,
          "end": 87.72,
          "text": "funny"
        },
        {
          "start": 87.8,
          "end": 88.04,
          "text": "joke,"
        },
        {
          "start": 88.32,
          "end": 88.48,
          "text": "good"
        },
        {
          "start": 88.52,
          "end": 88.76,
          "text": "intro."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 89.08,
          "end": 89.32,
          "text": "It's"
        },
        {
          "start": 89.32,
          "end": 89.8,
          "text": "definitely"
        },
        {
          "start": 89.8,
          "end": 90.08,
          "text": "become"
        },
        {
          "start": 90.08,
          "end": 90.16,
          "text": "a"
        },
        {
          "start": 90.24,
          "end": 90.48,
          "text": "thing."
        },
        {
          "start": 90.8,
          "end": 90.88,
          "text": "But"
        },
        {
          "start": 91.0,
          "end": 91.08,
          "text": "I"
        },
        {
          "start": 91.12,
          "end": 91.32,
          "text": "think"
        },
        {
          "start": 91.32,
          "end": 91.36,
          "text": "it"
        },
        {
          "start": 91.84,
          "end": 92.0,
          "text": "kind"
        },
        {
          "start": 92.04,
          "end": 92.12,
          "text": "of"
        },
        {
          "start": 92.2,
          "end": 92.76,
          "text": "highlights"
        },
        {
          "start": 92.8,
          "end": 93.2,
          "text": "something"
        },
        {
          "start": 93.52,
          "end": 93.84,
          "text": "something"
        },
        {
          "start": 93.96,
          "end": 94.12,
          "text": "very"
        },
        {
          "start": 94.16,
          "end": 94.44,
          "text": "real,"
        },
        {
          "start": 94.52,
          "end": 94.76,
          "text": "which"
        },
        {
          "start": 94.8,
          "end": 94.88,
          "text": "is"
        },
        {
          "start": 94.92,
          "end": 95.08,
          "text": "there"
        },
        {
          "start": 95.16,
          "end": 95.24,
          "text": "is"
        },
        {
          "start": 95.28,
          "end": 95.44,
          "text": "this"
        },
        {
          "start": 95.56,
          "end": 96.2,
          "text": "mystique"
        },
        {
          "start": 96.4,
          "end": 96.8,
          "text": "around"
        },
        {
          "start": 96.88,
          "end": 97.12,
          "text": "pod"
        },
        {
          "start": 97.16,
          "end": 97.56,
          "text": "shops,"
        },
        {
          "start": 97.6,
          "end": 97.68,
          "text": "the"
        },
        {
          "start": 97.76,
          "end": 98.08,
          "text": "multi"
        },
        {
          "start": 98.08,
          "end": 98.52,
          "text": "strategy"
        },
        {
          "start": 98.6,
          "end": 98.84,
          "text": "hedge"
        },
        {
          "start": 98.84,
          "end": 99.12,
          "text": "funds,"
        },
        {
          "start": 99.44,
          "end": 99.48,
          "text": "and"
        },
        {
          "start": 99.52,
          "end": 99.84,
          "text": "whenever"
        },
        {
          "start": 99.92,
          "end": 100.24,
          "text": "something"
        },
        {
          "start": 100.24,
          "end": 100.52,
          "text": "weird"
        },
        {
          "start": 100.6,
          "end": 100.68,
          "text": "is"
        },
        {
          "start": 100.68,
          "end": 101.04,
          "text": "happening"
        },
        {
          "start": 101.04,
          "end": 101.12,
          "text": "in"
        },
        {
          "start": 101.2,
          "end": 101.68,
          "text": "markets"
        },
        {
          "start": 101.76,
          "end": 102.08,
          "text": "now,"
        },
        {
          "start": 102.28,
          "end": 102.48,
          "text": "they"
        },
        {
          "start": 102.68,
          "end": 102.88,
          "text": "tend"
        },
        {
          "start": 102.96,
          "end": 103.0,
          "text": "to"
        },
        {
          "start": 103.0,
          "end": 103.2,
          "text": "get"
        },
        {
          "start": 103.2,
          "end": 103.52,
          "text": "blamed"
        },
        {
          "start": 103.6,
          "end": 103.64,
          "text": "or"
        },
        {
          "start": 103.68,
          "end": 103.96,
          "text": "people"
        },
        {
          "start": 104.0,
          "end": 104.2,
          "text": "start"
        },
        {
          "start": 104.28,
          "end": 104.56,
          "text": "joking"
        },
        {
          "start": 104.6,
          "end": 104.84,
          "text": "about"
        },
        {
          "start": 104.88,
          "end": 105.36,
          "text": "them."
        },
        {
          "start": 105.68,
          "end": 105.76,
          "text": "And"
        },
        {
          "start": 105.92,
          "end": 106.32,
          "text": "also"
        },
        {
          "start": 106.64,
          "end": 106.88,
          "text": "part"
        },
        {
          "start": 106.88,
          "end": 106.96,
          "text": "of"
        },
        {
          "start": 106.96,
          "end": 107.04,
          "text": "the"
        },
        {
          "start": 107.12,
          "end": 107.64,
          "text": "mystique"
        },
        {
          "start": 107.68,
          "end": 107.76,
          "text": "is"
        },
        {
          "start": 107.88,
          "end": 108.12,
          "text": "there's"
        },
        {
          "start": 108.24,
          "end": 108.32,
          "text": "just"
        },
        {
          "start": 108.36,
          "end": 108.44,
          "text": "a"
        },
        {
          "start": 108.48,
          "end": 108.68,
          "text": "lot"
        },
        {
          "start": 108.68,
          "end": 108.76,
          "text": "of"
        },
        {
          "start": 108.8,
          "end": 109.24,
          "text": "interest"
        },
        {
          "start": 109.4,
          "end": 109.48,
          "text": "in"
        },
        {
          "start": 109.56,
          "end": 109.88,
          "text": "why"
        },
        {
          "start": 109.92,
          "end": 110.12,
          "text": "they"
        },
        {
          "start": 110.2,
          "end": 110.52,
          "text": "seem"
        },
        {
          "start": 110.68,
          "end": 110.76,
          "text": "to"
        },
        {
          "start": 110.88,
          "end": 110.96,
          "text": "be"
        },
        {
          "start": 111.08,
          "end": 111.16,
          "text": "so"
        },
        {
          "start": 111.32,
          "end": 111.52,
          "text": "hot"
        },
        {
          "start": 111.6,
          "end": 111.76,
          "text": "right"
        },
        {
          "start": 111.8,
          "end": 112.04,
          "text": "now"
        },
        {
          "start": 112.4,
          "end": 112.76,
          "text": "blowing"
        },
        {
          "start": 112.84,
          "end": 112.96,
          "text": "up"
        },
        {
          "start": 113.0,
          "end": 113.08,
          "text": "in"
        },
        {
          "start": 113.12,
          "end": 113.2,
          "text": "a"
        },
        {
          "start": 113.28,
          "end": 113.48,
          "text": "very"
        },
        {
          "start": 113.48,
          "end": 113.8,
          "text": "different"
        },
        {
          "start": 113.84,
          "end": 114.08,
          "text": "way."
        },
        {
          "start": 114.52,
          "end": 114.68,
          "text": "And"
        },
        {
          "start": 114.68,
          "end": 114.76,
          "text": "what"
        },
        {
          "start": 114.92,
          "end": 115.4,
          "text": "exactly"
        },
        {
          "start": 115.64,
          "end": 115.76,
          "text": "is"
        },
        {
          "start": 115.92,
          "end": 116.12,
          "text": "the"
        },
        {
          "start": 116.28,
          "end": 116.88,
          "text": "attraction"
        },
        {
          "start": 117.2,
          "end": 117.28,
          "text": "for"
        },
        {
          "start": 117.36,
          "end": 117.6,
          "text": "big"
        },
        {
          "start": 117.64,
          "end": 118.32,
          "text": "allocators"
        },
        {
          "start": 118.32,
          "end": 118.4,
          "text": "of"
        },
        {
          "start": 118.44,
          "end": 118.92,
          "text": "capital,"
        },
        {
          "start": 119.48,
          "end": 119.84,
          "text": "because"
        },
        {
          "start": 120.0,
          "end": 120.04,
          "text": "I"
        },
        {
          "start": 120.08,
          "end": 120.32,
          "text": "always"
        },
        {
          "start": 120.36,
          "end": 120.52,
          "text": "think"
        },
        {
          "start": 120.56,
          "end": 120.72,
          "text": "it's"
        },
        {
          "start": 120.72,
          "end": 120.84,
          "text": "not"
        },
        {
          "start": 120.92,
          "end": 121.0,
          "text": "like"
        },
        {
          "start": 121.08,
          "end": 121.28,
          "text": "big"
        },
        {
          "start": 121.32,
          "end": 122.0,
          "text": "investors"
        },
        {
          "start": 122.16,
          "end": 122.52,
          "text": "can't"
        },
        {
          "start": 122.72,
          "end": 123.08,
          "text": "create"
        },
        {
          "start": 123.12,
          "end": 123.24,
          "text": "their"
        },
        {
          "start": 123.28,
          "end": 123.52,
          "text": "own"
        },
        {
          "start": 123.6,
          "end": 124.32,
          "text": "diversified"
        },
        {
          "start": 124.36,
          "end": 125.08,
          "text": "portfolios"
        },
        {
          "start": 125.2,
          "end": 125.28,
          "text": "or"
        },
        {
          "start": 125.28,
          "end": 125.6,
          "text": "invest"
        },
        {
          "start": 125.64,
          "end": 125.72,
          "text": "in"
        },
        {
          "start": 125.72,
          "end": 125.8,
          "text": "a"
        },
        {
          "start": 125.84,
          "end": 126.08,
          "text": "fund"
        },
        {
          "start": 126.08,
          "end": 126.16,
          "text": "of"
        },
        {
          "start": 126.2,
          "end": 126.6,
          "text": "funds"
        },
        {
          "start": 126.96,
          "end": 127.04,
          "text": "or"
        },
        {
          "start": 127.2,
          "end": 127.84,
          "text": "traditional"
        },
        {
          "start": 127.92,
          "end": 128.12,
          "text": "two"
        },
        {
          "start": 128.12,
          "end": 128.24,
          "text": "and"
        },
        {
          "start": 128.28,
          "end": 128.64,
          "text": "twenty"
        },
        {
          "start": 128.96,
          "end": 129.12,
          "text": "or"
        },
        {
          "start": 129.24,
          "end": 129.68,
          "text": "whatever."
        },
        {
          "start": 129.8,
          "end": 129.92,
          "text": "So"
        },
        {
          "start": 130.4,
          "end": 130.48,
          "text": "what"
        },
        {
          "start": 130.76,
          "end": 131.4,
          "text": "exactly"
        },
        {
          "start": 131.6,
          "end": 131.68,
          "text": "is"
        },
        {
          "start": 131.72,
          "end": 131.84,
          "text": "it"
        },
        {
          "start": 132.28,
          "end": 132.56,
          "text": "about"
        },
        {
          "start": 132.56,
          "end": 132.68,
          "text": "the"
        },
        {
          "start": 132.68,
          "end": 132.88,
          "text": "pod"
        },
        {
          "start": 132.96,
          "end": 133.4,
          "text": "shops"
        },
        {
          "start": 133.68,
          "end": 133.8,
          "text": "that"
        },
        {
          "start": 133.88,
          "end": 134.08,
          "text": "makes"
        },
        {
          "start": 134.12,
          "end": 134.24,
          "text": "them"
        },
        {
          "start": 134.28,
          "end": 134.36,
          "text": "so"
        },
        {
          "start": 134.44,
          "end": 134.92,
          "text": "attractive."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 135.12,
          "end": 135.32,
          "text": "We've"
        },
        {
          "start": 135.36,
          "end": 135.52,
          "text": "done"
        },
        {
          "start": 135.52,
          "end": 135.56,
          "text": "a"
        },
        {
          "start": 135.64,
          "end": 135.84,
          "text": "lot"
        },
        {
          "start": 135.84,
          "end": 135.96,
          "text": "of"
        },
        {
          "start": 136.2,
          "end": 136.84,
          "text": "episodes"
        },
        {
          "start": 137.2,
          "end": 137.44,
          "text": "on"
        },
        {
          "start": 137.96,
          "end": 138.08,
          "text": "the"
        },
        {
          "start": 138.28,
          "end": 139.04,
          "text": "multistreads"
        },
        {
          "start": 139.16,
          "end": 139.32,
          "text": "at"
        },
        {
          "start": 139.32,
          "end": 139.4,
          "text": "this"
        },
        {
          "start": 139.52,
          "end": 139.8,
          "text": "point,"
        },
        {
          "start": 139.92,
          "end": 140.0,
          "text": "the"
        },
        {
          "start": 140.04,
          "end": 140.28,
          "text": "pod"
        },
        {
          "start": 140.32,
          "end": 140.68,
          "text": "shops"
        },
        {
          "start": 140.68,
          "end": 140.72,
          "text": "so"
        },
        {
          "start": 140.84,
          "end": 141.12,
          "text": "various"
        },
        {
          "start": 141.16,
          "end": 141.6,
          "text": "flavors."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 141.8,
          "end": 141.96,
          "text": "There"
        },
        {
          "start": 141.96,
          "end": 142.08,
          "text": "are"
        },
        {
          "start": 142.12,
          "end": 142.36,
          "text": "still"
        },
        {
          "start": 142.44,
          "end": 142.52,
          "text": "a"
        },
        {
          "start": 142.56,
          "end": 142.8,
          "text": "lot"
        },
        {
          "start": 142.8,
          "end": 142.92,
          "text": "of"
        },
        {
          "start": 143.0,
          "end": 143.28,
          "text": "things"
        },
        {
          "start": 143.4,
          "end": 143.48,
          "text": "I"
        },
        {
          "start": 143.52,
          "end": 143.76,
          "text": "don't"
        },
        {
          "start": 143.8,
          "end": 144.24,
          "text": "understand."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 144.32,
          "end": 144.52,
          "text": "First"
        },
        {
          "start": 144.52,
          "end": 144.56,
          "text": "of"
        },
        {
          "start": 144.6,
          "end": 144.8,
          "text": "all,"
        },
        {
          "start": 144.84,
          "end": 144.92,
          "text": "my"
        },
        {
          "start": 145.04,
          "end": 145.6,
          "text": "understanding"
        },
        {
          "start": 145.8,
          "end": 145.88,
          "text": "is"
        },
        {
          "start": 145.96,
          "end": 146.16,
          "text": "that"
        },
        {
          "start": 146.48,
          "end": 146.64,
          "text": "they"
        },
        {
          "start": 146.72,
          "end": 146.92,
          "text": "sort"
        },
        {
          "start": 146.92,
          "end": 147.0,
          "text": "of"
        },
        {
          "start": 147.04,
          "end": 147.48,
          "text": "continue"
        },
        {
          "start": 147.52,
          "end": 147.6,
          "text": "to"
        },
        {
          "start": 147.68,
          "end": 147.92,
          "text": "prove"
        },
        {
          "start": 148.08,
          "end": 148.28,
          "text": "their"
        },
        {
          "start": 148.32,
          "end": 148.64,
          "text": "metal."
        },
        {
          "start": 148.84,
          "end": 148.92,
          "text": "I"
        },
        {
          "start": 148.96,
          "end": 149.12,
          "text": "mean,"
        },
        {
          "start": 149.6,
          "end": 149.68,
          "text": "it"
        },
        {
          "start": 149.76,
          "end": 150.12,
          "text": "seems"
        },
        {
          "start": 150.16,
          "end": 150.24,
          "text": "like"
        },
        {
          "start": 150.36,
          "end": 150.48,
          "text": "they"
        },
        {
          "start": 150.48,
          "end": 150.76,
          "text": "didn't"
        },
        {
          "start": 150.8,
          "end": 151.04,
          "text": "lose"
        },
        {
          "start": 151.08,
          "end": 151.16,
          "text": "a"
        },
        {
          "start": 151.16,
          "end": 151.32,
          "text": "lot"
        },
        {
          "start": 151.36,
          "end": 151.48,
          "text": "of"
        },
        {
          "start": 151.52,
          "end": 151.88,
          "text": "money"
        },
        {
          "start": 152.16,
          "end": 152.32,
          "text": "in"
        },
        {
          "start": 152.36,
          "end": 152.84,
          "text": "April"
        },
        {
          "start": 153.12,
          "end": 153.4,
          "text": "during"
        },
        {
          "start": 153.44,
          "end": 153.52,
          "text": "some"
        },
        {
          "start": 153.64,
          "end": 153.76,
          "text": "of"
        },
        {
          "start": 153.8,
          "end": 153.88,
          "text": "that"
        },
        {
          "start": 154.16,
          "end": 154.84,
          "text": "volatility,"
        },
        {
          "start": 155.0,
          "end": 155.08,
          "text": "So"
        },
        {
          "start": 155.4,
          "end": 155.56,
          "text": "they"
        },
        {
          "start": 155.6,
          "end": 155.68,
          "text": "have"
        },
        {
          "start": 155.84,
          "end": 155.92,
          "text": "this"
        },
        {
          "start": 156.08,
          "end": 156.52,
          "text": "promise"
        },
        {
          "start": 157.56,
          "end": 158.36,
          "text": "uncorrelated"
        },
        {
          "start": 158.4,
          "end": 158.88,
          "text": "returns."
        },
        {
          "start": 158.96,
          "end": 159.12,
          "text": "We'll"
        },
        {
          "start": 159.12,
          "end": 159.28,
          "text": "get"
        },
        {
          "start": 159.32,
          "end": 159.52,
          "text": "into"
        },
        {
          "start": 159.52,
          "end": 159.68,
          "text": "how"
        },
        {
          "start": 159.68,
          "end": 159.84,
          "text": "they"
        },
        {
          "start": 160.04,
          "end": 160.36,
          "text": "deliver"
        },
        {
          "start": 160.52,
          "end": 160.6,
          "text": "that."
        },
        {
          "start": 161.16,
          "end": 161.24,
          "text": "So"
        },
        {
          "start": 161.44,
          "end": 161.64,
          "text": "far,"
        },
        {
          "start": 161.92,
          "end": 161.96,
          "text": "it"
        },
        {
          "start": 162.08,
          "end": 162.52,
          "text": "seems"
        },
        {
          "start": 162.56,
          "end": 162.64,
          "text": "like"
        },
        {
          "start": 162.72,
          "end": 162.88,
          "text": "they"
        },
        {
          "start": 162.92,
          "end": 163.6,
          "text": "continue"
        },
        {
          "start": 163.72,
          "end": 163.8,
          "text": "to"
        },
        {
          "start": 164.12,
          "end": 164.36,
          "text": "more"
        },
        {
          "start": 164.48,
          "end": 164.52,
          "text": "or"
        },
        {
          "start": 164.64,
          "end": 164.96,
          "text": "less"
        },
        {
          "start": 165.12,
          "end": 165.2,
          "text": "do"
        },
        {
          "start": 165.28,
          "end": 165.48,
          "text": "what's"
        },
        {
          "start": 165.52,
          "end": 166.28,
          "text": "advertised."
        },
        {
          "start": 166.84,
          "end": 166.96,
          "text": "I"
        },
        {
          "start": 167.16,
          "end": 167.24,
          "text": "have"
        },
        {
          "start": 167.32,
          "end": 167.4,
          "text": "a"
        },
        {
          "start": 167.4,
          "end": 167.56,
          "text": "lot"
        },
        {
          "start": 167.6,
          "end": 167.68,
          "text": "of"
        },
        {
          "start": 167.76,
          "end": 168.16,
          "text": "questions"
        },
        {
          "start": 168.2,
          "end": 168.56,
          "text": "about"
        },
        {
          "start": 168.6,
          "end": 169.04,
          "text": "how"
        },
        {
          "start": 169.16,
          "end": 169.28,
          "text": "and"
        },
        {
          "start": 169.32,
          "end": 169.44,
          "text": "what"
        },
        {
          "start": 169.6,
          "end": 169.68,
          "text": "is"
        },
        {
          "start": 169.72,
          "end": 169.8,
          "text": "the"
        },
        {
          "start": 169.84,
          "end": 170.16,
          "text": "actual"
        },
        {
          "start": 170.2,
          "end": 170.48,
          "text": "source"
        },
        {
          "start": 170.48,
          "end": 170.56,
          "text": "of"
        },
        {
          "start": 170.6,
          "end": 171.0,
          "text": "alpha"
        },
        {
          "start": 171.0,
          "end": 171.08,
          "text": "and"
        },
        {
          "start": 171.12,
          "end": 171.32,
          "text": "how"
        },
        {
          "start": 171.36,
          "end": 171.52,
          "text": "long"
        },
        {
          "start": 171.56,
          "end": 171.68,
          "text": "can"
        },
        {
          "start": 171.76,
          "end": 171.84,
          "text": "this"
        },
        {
          "start": 171.92,
          "end": 172.0,
          "text": "go"
        },
        {
          "start": 172.12,
          "end": 172.2,
          "text": "on,"
        },
        {
          "start": 172.84,
          "end": 172.92,
          "text": "and"
        },
        {
          "start": 173.12,
          "end": 173.36,
          "text": "whether"
        },
        {
          "start": 173.4,
          "end": 173.48,
          "text": "there"
        },
        {
          "start": 173.48,
          "end": 173.6,
          "text": "are"
        },
        {
          "start": 173.6,
          "end": 173.64,
          "text": "a"
        },
        {
          "start": 173.64,
          "end": 173.8,
          "text": "lot"
        },
        {
          "start": 173.8,
          "end": 173.88,
          "text": "of"
        },
        {
          "start": 173.92,
          "end": 174.68,
          "text": "copycats"
        },
        {
          "start": 174.68,
          "end": 174.8,
          "text": "and"
        },
        {
          "start": 174.88,
          "end": 175.16,
          "text": "whether"
        },
        {
          "start": 175.24,
          "end": 175.32,
          "text": "that"
        },
        {
          "start": 175.36,
          "end": 175.56,
          "text": "will"
        },
        {
          "start": 175.56,
          "end": 175.8,
          "text": "cause"
        },
        {
          "start": 175.92,
          "end": 176.24,
          "text": "alpha"
        },
        {
          "start": 176.32,
          "end": 176.68,
          "text": "decay"
        },
        {
          "start": 176.8,
          "end": 176.88,
          "text": "and"
        },
        {
          "start": 176.96,
          "end": 177.12,
          "text": "all"
        },
        {
          "start": 177.16,
          "end": 177.24,
          "text": "this"
        },
        {
          "start": 177.36,
          "end": 177.92,
          "text": "stuff."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 178.4,
          "end": 178.48,
          "text": "I"
        },
        {
          "start": 178.52,
          "end": 178.6,
          "text": "have"
        },
        {
          "start": 178.76,
          "end": 179.16,
          "text": "questions"
        },
        {
          "start": 179.2,
          "end": 179.44,
          "text": "about"
        },
        {
          "start": 179.52,
          "end": 179.88,
          "text": "comp"
        },
        {
          "start": 180.2,
          "end": 180.28,
          "text": "the"
        },
        {
          "start": 180.32,
          "end": 180.6,
          "text": "most"
        },
        {
          "start": 180.64,
          "end": 181.16,
          "text": "important"
        },
        {
          "start": 181.16,
          "end": 181.36,
          "text": "thing."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 181.6,
          "end": 181.76,
          "text": "Well,"
        },
        {
          "start": 181.8,
          "end": 181.88,
          "text": "this"
        },
        {
          "start": 182.04,
          "end": 182.12,
          "text": "is"
        },
        {
          "start": 182.16,
          "end": 182.4,
          "text": "really"
        },
        {
          "start": 182.4,
          "end": 182.8,
          "text": "important,"
        },
        {
          "start": 182.8,
          "end": 182.88,
          "text": "and"
        },
        {
          "start": 183.0,
          "end": 183.44,
          "text": "actually,"
        },
        {
          "start": 183.52,
          "end": 183.6,
          "text": "you"
        },
        {
          "start": 183.64,
          "end": 183.72,
          "text": "know,"
        },
        {
          "start": 183.76,
          "end": 183.84,
          "text": "we"
        },
        {
          "start": 183.88,
          "end": 184.08,
          "text": "did"
        },
        {
          "start": 184.08,
          "end": 184.2,
          "text": "that"
        },
        {
          "start": 184.36,
          "end": 185.0,
          "text": "episode"
        },
        {
          "start": 185.16,
          "end": 185.24,
          "text": "with"
        },
        {
          "start": 185.4,
          "end": 185.48,
          "text": "the"
        },
        {
          "start": 185.64,
          "end": 186.04,
          "text": "founder"
        },
        {
          "start": 186.12,
          "end": 186.2,
          "text": "of"
        },
        {
          "start": 186.28,
          "end": 186.76,
          "text": "Freestone,"
        },
        {
          "start": 186.8,
          "end": 187.04,
          "text": "Grove"
        },
        {
          "start": 187.12,
          "end": 187.28,
          "text": "dan"
        },
        {
          "start": 187.32,
          "end": 187.68,
          "text": "Morello,"
        },
        {
          "start": 188.0,
          "end": 188.16,
          "text": "just"
        },
        {
          "start": 188.4,
          "end": 188.48,
          "text": "a"
        },
        {
          "start": 188.52,
          "end": 188.72,
          "text": "lot"
        },
        {
          "start": 188.76,
          "end": 188.88,
          "text": "of"
        },
        {
          "start": 188.92,
          "end": 189.24,
          "text": "the"
        },
        {
          "start": 189.36,
          "end": 189.92,
          "text": "conversation"
        },
        {
          "start": 190.08,
          "end": 190.12,
          "text": "was"
        },
        {
          "start": 190.12,
          "end": 190.4,
          "text": "about"
        },
        {
          "start": 190.44,
          "end": 190.8,
          "text": "comp"
        },
        {
          "start": 191.16,
          "end": 191.24,
          "text": "And"
        },
        {
          "start": 191.4,
          "end": 191.6,
          "text": "I'm"
        },
        {
          "start": 191.64,
          "end": 192.0,
          "text": "interested"
        },
        {
          "start": 192.0,
          "end": 192.12,
          "text": "in"
        },
        {
          "start": 192.16,
          "end": 192.44,
          "text": "comp"
        },
        {
          "start": 192.44,
          "end": 192.76,
          "text": "because"
        },
        {
          "start": 192.76,
          "end": 192.96,
          "text": "I'm"
        },
        {
          "start": 192.96,
          "end": 193.48,
          "text": "interested"
        },
        {
          "start": 193.68,
          "end": 193.8,
          "text": "in"
        },
        {
          "start": 193.84,
          "end": 193.96,
          "text": "the"
        },
        {
          "start": 194.0,
          "end": 194.28,
          "text": "topic"
        },
        {
          "start": 194.32,
          "end": 194.4,
          "text": "of"
        },
        {
          "start": 194.44,
          "end": 194.64,
          "text": "making"
        },
        {
          "start": 194.68,
          "end": 194.72,
          "text": "a"
        },
        {
          "start": 194.76,
          "end": 194.92,
          "text": "lot"
        },
        {
          "start": 194.92,
          "end": 194.96,
          "text": "of"
        },
        {
          "start": 195.04,
          "end": 195.36,
          "text": "money,"
        },
        {
          "start": 195.52,
          "end": 195.6,
          "text": "But"
        },
        {
          "start": 195.72,
          "end": 196.04,
          "text": "also"
        },
        {
          "start": 196.64,
          "end": 196.72,
          "text": "I"
        },
        {
          "start": 196.76,
          "end": 196.96,
          "text": "get"
        },
        {
          "start": 196.96,
          "end": 197.04,
          "text": "the"
        },
        {
          "start": 197.08,
          "end": 197.68,
          "text": "impression"
        },
        {
          "start": 198.08,
          "end": 198.28,
          "text": "that"
        },
        {
          "start": 198.6,
          "end": 198.96,
          "text": "comp"
        },
        {
          "start": 199.08,
          "end": 199.16,
          "text": "and"
        },
        {
          "start": 199.52,
          "end": 200.12,
          "text": "incentive"
        },
        {
          "start": 200.32,
          "end": 200.96,
          "text": "alignment"
        },
        {
          "start": 201.12,
          "end": 201.36,
          "text": "more"
        },
        {
          "start": 201.4,
          "end": 201.92,
          "text": "broadly"
        },
        {
          "start": 202.52,
          "end": 202.6,
          "text": "is"
        },
        {
          "start": 202.8,
          "end": 203.28,
          "text": "actually"
        },
        {
          "start": 203.32,
          "end": 203.48,
          "text": "one"
        },
        {
          "start": 203.52,
          "end": 203.6,
          "text": "of"
        },
        {
          "start": 203.64,
          "end": 203.68,
          "text": "the"
        },
        {
          "start": 203.76,
          "end": 204.0,
          "text": "key"
        },
        {
          "start": 204.12,
          "end": 204.88,
          "text": "problems"
        },
        {
          "start": 205.32,
          "end": 205.52,
          "text": "that"
        },
        {
          "start": 205.64,
          "end": 205.92,
          "text": "people"
        },
        {
          "start": 205.96,
          "end": 206.08,
          "text": "are"
        },
        {
          "start": 206.08,
          "end": 206.28,
          "text": "trying"
        },
        {
          "start": 206.32,
          "end": 206.4,
          "text": "to"
        },
        {
          "start": 206.4,
          "end": 206.64,
          "text": "solve"
        },
        {
          "start": 206.68,
          "end": 206.76,
          "text": "for"
        },
        {
          "start": 206.84,
          "end": 207.0,
          "text": "all"
        },
        {
          "start": 207.04,
          "end": 207.12,
          "text": "the"
        },
        {
          "start": 207.12,
          "end": 207.4,
          "text": "time."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 207.48,
          "end": 207.52,
          "text": "I"
        },
        {
          "start": 207.56,
          "end": 207.76,
          "text": "think"
        },
        {
          "start": 207.76,
          "end": 207.96,
          "text": "that's"
        },
        {
          "start": 208.0,
          "end": 208.2,
          "text": "right."
        },
        {
          "start": 208.4,
          "end": 208.72,
          "text": "Okay,"
        },
        {
          "start": 208.84,
          "end": 209.0,
          "text": "So"
        },
        {
          "start": 209.16,
          "end": 209.24,
          "text": "I"
        },
        {
          "start": 209.28,
          "end": 209.36,
          "text": "am"
        },
        {
          "start": 209.48,
          "end": 209.64,
          "text": "very"
        },
        {
          "start": 209.64,
          "end": 210.0,
          "text": "pleased"
        },
        {
          "start": 210.0,
          "end": 210.08,
          "text": "to"
        },
        {
          "start": 210.12,
          "end": 210.32,
          "text": "say"
        },
        {
          "start": 210.36,
          "end": 210.44,
          "text": "we"
        },
        {
          "start": 210.48,
          "end": 210.6,
          "text": "do,"
        },
        {
          "start": 210.68,
          "end": 210.76,
          "text": "in"
        },
        {
          "start": 210.8,
          "end": 211.08,
          "text": "fact"
        },
        {
          "start": 211.08,
          "end": 211.12,
          "text": "have"
        },
        {
          "start": 211.28,
          "end": 211.36,
          "text": "the"
        },
        {
          "start": 211.36,
          "end": 211.76,
          "text": "perfect"
        },
        {
          "start": 211.76,
          "end": 212.04,
          "text": "guest."
        },
        {
          "start": 212.32,
          "end": 212.52,
          "text": "We're"
        },
        {
          "start": 212.52,
          "end": 212.6,
          "text": "going"
        },
        {
          "start": 212.68,
          "end": 212.76,
          "text": "to"
        },
        {
          "start": 212.76,
          "end": 212.84,
          "text": "be"
        },
        {
          "start": 212.84,
          "end": 213.12,
          "text": "speaking"
        },
        {
          "start": 213.16,
          "end": 213.24,
          "text": "with"
        },
        {
          "start": 213.36,
          "end": 213.68,
          "text": "Ronan"
        },
        {
          "start": 213.76,
          "end": 214.32,
          "text": "Cosgrave."
        },
        {
          "start": 214.36,
          "end": 214.44,
          "text": "He"
        },
        {
          "start": 214.52,
          "end": 214.6,
          "text": "is"
        },
        {
          "start": 214.6,
          "end": 214.72,
          "text": "a"
        },
        {
          "start": 214.76,
          "end": 215.24,
          "text": "partner"
        },
        {
          "start": 215.48,
          "end": 215.64,
          "text": "at"
        },
        {
          "start": 215.72,
          "end": 216.24,
          "text": "Alburn"
        },
        {
          "start": 216.44,
          "end": 217.0,
          "text": "Partners."
        },
        {
          "start": 217.04,
          "end": 217.12,
          "text": "So"
        },
        {
          "start": 217.52,
          "end": 217.88,
          "text": "Ronan,"
        },
        {
          "start": 217.92,
          "end": 218.12,
          "text": "thank"
        },
        {
          "start": 218.16,
          "end": 218.24,
          "text": "you"
        },
        {
          "start": 218.28,
          "end": 218.36,
          "text": "so"
        },
        {
          "start": 218.44,
          "end": 218.6,
          "text": "much"
        },
        {
          "start": 218.64,
          "end": 218.72,
          "text": "for"
        },
        {
          "start": 218.76,
          "end": 219.0,
          "text": "coming"
        },
        {
          "start": 219.0,
          "end": 219.12,
          "text": "on"
        },
        {
          "start": 219.12,
          "end": 219.24,
          "text": "all"
        },
        {
          "start": 219.28,
          "end": 219.52,
          "text": "thoughts."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 219.76,
          "end": 219.92,
          "text": "Thank"
        },
        {
          "start": 219.96,
          "end": 220.0,
          "text": "you"
        },
        {
          "start": 220.04,
          "end": 220.16,
          "text": "very"
        },
        {
          "start": 220.24,
          "end": 220.36,
          "text": "much."
        },
        {
          "start": 220.36,
          "end": 220.48,
          "text": "I'm"
        },
        {
          "start": 220.48,
          "end": 220.68,
          "text": "really"
        },
        {
          "start": 220.68,
          "end": 220.92,
          "text": "honored"
        },
        {
          "start": 220.96,
          "end": 221.0,
          "text": "to"
        },
        {
          "start": 221.0,
          "end": 221.08,
          "text": "be"
        },
        {
          "start": 221.12,
          "end": 221.32,
          "text": "here."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 221.6,
          "end": 221.92,
          "text": "First"
        },
        {
          "start": 222.0,
          "end": 222.36,
          "text": "question,"
        },
        {
          "start": 222.8,
          "end": 222.92,
          "text": "what"
        },
        {
          "start": 223.04,
          "end": 223.52,
          "text": "exactly"
        },
        {
          "start": 223.6,
          "end": 223.68,
          "text": "is"
        },
        {
          "start": 223.72,
          "end": 224.2,
          "text": "Alborn"
        },
        {
          "start": 224.28,
          "end": 224.76,
          "text": "Partners"
        },
        {
          "start": 224.8,
          "end": 225.04,
          "text": "because"
        },
        {
          "start": 225.08,
          "end": 225.24,
          "text": "it's"
        },
        {
          "start": 225.28,
          "end": 225.4,
          "text": "not"
        },
        {
          "start": 225.6,
          "end": 225.72,
          "text": "a"
        },
        {
          "start": 225.72,
          "end": 225.96,
          "text": "pod"
        },
        {
          "start": 226.0,
          "end": 226.32,
          "text": "shop"
        },
        {
          "start": 226.44,
          "end": 226.88,
          "text": "itself."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 227.12,
          "end": 227.36,
          "text": "No,"
        },
        {
          "start": 227.36,
          "end": 227.52,
          "text": "No,"
        },
        {
          "start": 227.56,
          "end": 227.84,
          "text": "we're"
        },
        {
          "start": 228.32,
          "end": 228.4,
          "text": "so."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 228.44,
          "end": 228.52,
          "text": "I"
        },
        {
          "start": 228.56,
          "end": 228.68,
          "text": "co"
        },
        {
          "start": 228.76,
          "end": 228.92,
          "text": "lead"
        },
        {
          "start": 229.0,
          "end": 229.24,
          "text": "multi"
        },
        {
          "start": 229.24,
          "end": 229.6,
          "text": "strategy"
        },
        {
          "start": 229.64,
          "end": 229.84,
          "text": "heads"
        },
        {
          "start": 229.84,
          "end": 230.04,
          "text": "fund"
        },
        {
          "start": 230.04,
          "end": 230.36,
          "text": "coverage"
        },
        {
          "start": 230.36,
          "end": 230.64,
          "text": "at"
        },
        {
          "start": 230.64,
          "end": 231.08,
          "text": "Alborn."
        },
        {
          "start": 231.36,
          "end": 231.4,
          "text": "We"
        },
        {
          "start": 231.48,
          "end": 231.56,
          "text": "are"
        },
        {
          "start": 231.76,
          "end": 231.92,
          "text": "an"
        },
        {
          "start": 231.92,
          "end": 232.52,
          "text": "advisory"
        },
        {
          "start": 232.56,
          "end": 232.84,
          "text": "only"
        },
        {
          "start": 233.0,
          "end": 233.64,
          "text": "independently"
        },
        {
          "start": 233.68,
          "end": 234.0,
          "text": "owned"
        },
        {
          "start": 234.36,
          "end": 234.88,
          "text": "consultant."
        },
        {
          "start": 234.96,
          "end": 235.04,
          "text": "We"
        },
        {
          "start": 235.08,
          "end": 235.28,
          "text": "help"
        },
        {
          "start": 235.36,
          "end": 235.96,
          "text": "institutional"
        },
        {
          "start": 235.96,
          "end": 236.44,
          "text": "investors"
        },
        {
          "start": 236.44,
          "end": 236.76,
          "text": "invest"
        },
        {
          "start": 236.76,
          "end": 236.84,
          "text": "in"
        },
        {
          "start": 236.88,
          "end": 237.08,
          "text": "hedge"
        },
        {
          "start": 237.08,
          "end": 237.48,
          "text": "funds,"
        },
        {
          "start": 237.68,
          "end": 238.0,
          "text": "private"
        },
        {
          "start": 238.0,
          "end": 238.32,
          "text": "equity,"
        },
        {
          "start": 238.4,
          "end": 238.52,
          "text": "real"
        },
        {
          "start": 238.64,
          "end": 238.88,
          "text": "estate,"
        },
        {
          "start": 239.04,
          "end": 239.16,
          "text": "all"
        },
        {
          "start": 239.2,
          "end": 239.48,
          "text": "across"
        },
        {
          "start": 239.48,
          "end": 239.52,
          "text": "the"
        },
        {
          "start": 239.6,
          "end": 239.96,
          "text": "alternate"
        },
        {
          "start": 240.12,
          "end": 240.16,
          "text": "that"
        },
        {
          "start": 240.36,
          "end": 240.96,
          "text": "spectrum."
        },
        {
          "start": 241.36,
          "end": 241.44,
          "text": "We"
        },
        {
          "start": 241.44,
          "end": 241.48,
          "text": "have"
        },
        {
          "start": 241.48,
          "end": 241.76,
          "text": "about"
        },
        {
          "start": 241.76,
          "end": 241.88,
          "text": "three"
        },
        {
          "start": 241.92,
          "end": 242.12,
          "text": "undred"
        },
        {
          "start": 242.12,
          "end": 242.16,
          "text": "and"
        },
        {
          "start": 242.16,
          "end": 242.36,
          "text": "fifty"
        },
        {
          "start": 242.4,
          "end": 242.68,
          "text": "clients"
        },
        {
          "start": 242.68,
          "end": 243.16,
          "text": "worldwide"
        },
        {
          "start": 243.2,
          "end": 243.28,
          "text": "and"
        },
        {
          "start": 243.32,
          "end": 243.44,
          "text": "we"
        },
        {
          "start": 243.48,
          "end": 243.88,
          "text": "advise"
        },
        {
          "start": 244.04,
          "end": 244.12,
          "text": "on"
        },
        {
          "start": 244.76,
          "end": 245.08,
          "text": "greater"
        },
        {
          "start": 245.16,
          "end": 245.28,
          "text": "than"
        },
        {
          "start": 245.32,
          "end": 245.52,
          "text": "seven"
        },
        {
          "start": 245.64,
          "end": 245.92,
          "text": "hundred"
        },
        {
          "start": 245.92,
          "end": 245.96,
          "text": "and"
        },
        {
          "start": 246.0,
          "end": 246.24,
          "text": "fifty"
        },
        {
          "start": 246.28,
          "end": 246.6,
          "text": "billion"
        },
        {
          "start": 246.68,
          "end": 247.0,
          "text": "dollars"
        },
        {
          "start": 247.0,
          "end": 247.08,
          "text": "in"
        },
        {
          "start": 247.12,
          "end": 247.84,
          "text": "assets."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 248.12,
          "end": 248.48,
          "text": "Okay,"
        },
        {
          "start": 248.68,
          "end": 248.84,
          "text": "give"
        },
        {
          "start": 248.92,
          "end": 249.0,
          "text": "us"
        },
        {
          "start": 249.0,
          "end": 249.04,
          "text": "a"
        },
        {
          "start": 249.08,
          "end": 249.32,
          "text": "little"
        },
        {
          "start": 249.32,
          "end": 249.48,
          "text": "bit"
        },
        {
          "start": 249.48,
          "end": 249.64,
          "text": "more"
        },
        {
          "start": 249.64,
          "end": 249.8,
          "text": "of"
        },
        {
          "start": 249.84,
          "end": 250.32,
          "text": "your"
        },
        {
          "start": 250.52,
          "end": 251.2,
          "text": "background."
        },
        {
          "start": 251.72,
          "end": 251.96,
          "text": "You're"
        },
        {
          "start": 252.0,
          "end": 252.08,
          "text": "the"
        },
        {
          "start": 252.16,
          "end": 252.48,
          "text": "perfect"
        },
        {
          "start": 252.52,
          "end": 252.84,
          "text": "guests"
        },
        {
          "start": 252.84,
          "end": 252.92,
          "text": "to"
        },
        {
          "start": 253.0,
          "end": 253.2,
          "text": "talk"
        },
        {
          "start": 253.24,
          "end": 253.6,
          "text": "about"
        },
        {
          "start": 253.8,
          "end": 254.08,
          "text": "multi"
        },
        {
          "start": 254.08,
          "end": 254.6,
          "text": "strategy"
        },
        {
          "start": 254.64,
          "end": 254.88,
          "text": "hedge"
        },
        {
          "start": 254.88,
          "end": 255.24,
          "text": "funds"
        },
        {
          "start": 255.24,
          "end": 255.36,
          "text": "and"
        },
        {
          "start": 255.4,
          "end": 255.64,
          "text": "why"
        },
        {
          "start": 255.76,
          "end": 256.52,
          "text": "allocators"
        },
        {
          "start": 256.6,
          "end": 256.68,
          "text": "like"
        },
        {
          "start": 256.8,
          "end": 257.44,
          "text": "allocating"
        },
        {
          "start": 257.48,
          "end": 257.56,
          "text": "to"
        },
        {
          "start": 257.64,
          "end": 257.84,
          "text": "them."
        },
        {
          "start": 258.12,
          "end": 258.32,
          "text": "Talk"
        },
        {
          "start": 258.36,
          "end": 258.44,
          "text": "to"
        },
        {
          "start": 258.68,
          "end": 258.8,
          "text": "us"
        },
        {
          "start": 258.84,
          "end": 259.12,
          "text": "about"
        },
        {
          "start": 259.16,
          "end": 259.24,
          "text": "like"
        },
        {
          "start": 259.44,
          "end": 259.56,
          "text": "how"
        },
        {
          "start": 259.6,
          "end": 259.68,
          "text": "you"
        },
        {
          "start": 259.68,
          "end": 259.96,
          "text": "built"
        },
        {
          "start": 260.0,
          "end": 260.08,
          "text": "up"
        },
        {
          "start": 260.12,
          "end": 260.24,
          "text": "your"
        },
        {
          "start": 260.24,
          "end": 260.96,
          "text": "familiarity"
        },
        {
          "start": 261.24,
          "end": 261.36,
          "text": "with"
        },
        {
          "start": 261.44,
          "end": 261.52,
          "text": "the"
        },
        {
          "start": 261.6,
          "end": 262.0,
          "text": "space"
        },
        {
          "start": 262.36,
          "end": 262.64,
          "text": "and"
        },
        {
          "start": 262.72,
          "end": 262.88,
          "text": "how"
        },
        {
          "start": 262.88,
          "end": 263.04,
          "text": "you've"
        },
        {
          "start": 263.12,
          "end": 263.36,
          "text": "built"
        },
        {
          "start": 263.4,
          "end": 263.52,
          "text": "up"
        },
        {
          "start": 263.52,
          "end": 263.68,
          "text": "your"
        },
        {
          "start": 263.76,
          "end": 263.84,
          "text": "like"
        },
        {
          "start": 263.96,
          "end": 264.72,
          "text": "understanding"
        },
        {
          "start": 264.84,
          "end": 264.92,
          "text": "of"
        },
        {
          "start": 265.0,
          "end": 265.16,
          "text": "their"
        },
        {
          "start": 265.36,
          "end": 265.6,
          "text": "inner"
        },
        {
          "start": 265.64,
          "end": 266.44,
          "text": "mechanics."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 266.72,
          "end": 266.88,
          "text": "That's"
        },
        {
          "start": 266.92,
          "end": 267.0,
          "text": "a"
        },
        {
          "start": 267.04,
          "end": 267.2,
          "text": "long"
        },
        {
          "start": 267.28,
          "end": 267.6,
          "text": "answer."
        },
        {
          "start": 267.88,
          "end": 268.12,
          "text": "I've"
        },
        {
          "start": 268.2,
          "end": 268.36,
          "text": "been"
        },
        {
          "start": 268.4,
          "end": 268.6,
          "text": "over"
        },
        {
          "start": 268.6,
          "end": 268.84,
          "text": "twenty"
        },
        {
          "start": 268.92,
          "end": 269.08,
          "text": "years"
        },
        {
          "start": 269.12,
          "end": 269.16,
          "text": "in"
        },
        {
          "start": 269.16,
          "end": 269.2,
          "text": "the"
        },
        {
          "start": 269.2,
          "end": 269.36,
          "text": "hedge"
        },
        {
          "start": 269.36,
          "end": 269.56,
          "text": "front"
        },
        {
          "start": 269.56,
          "end": 270.0,
          "text": "industry."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 270.12,
          "end": 270.4,
          "text": "Okay."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 270.52,
          "end": 270.64,
          "text": "I"
        },
        {
          "start": 270.96,
          "end": 271.16,
          "text": "worked"
        },
        {
          "start": 271.16,
          "end": 271.24,
          "text": "at"
        },
        {
          "start": 271.24,
          "end": 271.32,
          "text": "a"
        },
        {
          "start": 271.48,
          "end": 271.68,
          "text": "fund"
        },
        {
          "start": 271.68,
          "end": 271.72,
          "text": "of"
        },
        {
          "start": 271.76,
          "end": 272.0,
          "text": "funds"
        },
        {
          "start": 272.04,
          "end": 272.2,
          "text": "called"
        },
        {
          "start": 272.2,
          "end": 272.52,
          "text": "Pamco"
        },
        {
          "start": 272.68,
          "end": 272.76,
          "text": "for"
        },
        {
          "start": 272.84,
          "end": 273.2,
          "text": "fifteen"
        },
        {
          "start": 273.28,
          "end": 273.52,
          "text": "years"
        },
        {
          "start": 273.56,
          "end": 273.64,
          "text": "or"
        },
        {
          "start": 273.68,
          "end": 273.72,
          "text": "the"
        },
        {
          "start": 273.76,
          "end": 274.12,
          "text": "partner"
        },
        {
          "start": 274.16,
          "end": 274.4,
          "text": "there"
        },
        {
          "start": 274.88,
          "end": 275.0,
          "text": "did"
        },
        {
          "start": 275.0,
          "end": 275.04,
          "text": "a"
        },
        {
          "start": 275.08,
          "end": 275.24,
          "text": "whole"
        },
        {
          "start": 275.28,
          "end": 275.4,
          "text": "lot"
        },
        {
          "start": 275.4,
          "end": 275.44,
          "text": "of"
        },
        {
          "start": 275.48,
          "end": 275.72,
          "text": "stuff"
        },
        {
          "start": 275.72,
          "end": 275.96,
          "text": "there,"
        },
        {
          "start": 275.96,
          "end": 276.24,
          "text": "covered"
        },
        {
          "start": 276.28,
          "end": 276.56,
          "text": "pretty"
        },
        {
          "start": 276.6,
          "end": 276.72,
          "text": "much"
        },
        {
          "start": 276.84,
          "end": 276.96,
          "text": "kind"
        },
        {
          "start": 276.96,
          "end": 277.04,
          "text": "of"
        },
        {
          "start": 277.04,
          "end": 277.12,
          "text": "the"
        },
        {
          "start": 277.16,
          "end": 277.8,
          "text": "constituent"
        },
        {
          "start": 278.12,
          "end": 278.8,
          "text": "strategies"
        },
        {
          "start": 279.16,
          "end": 279.28,
          "text": "of"
        },
        {
          "start": 279.32,
          "end": 279.48,
          "text": "many"
        },
        {
          "start": 279.48,
          "end": 279.52,
          "text": "of"
        },
        {
          "start": 279.52,
          "end": 279.56,
          "text": "the"
        },
        {
          "start": 279.64,
          "end": 279.92,
          "text": "multi"
        },
        {
          "start": 279.92,
          "end": 280.36,
          "text": "strats,"
        },
        {
          "start": 280.44,
          "end": 280.6,
          "text": "right,"
        },
        {
          "start": 280.64,
          "end": 280.68,
          "text": "so"
        },
        {
          "start": 280.68,
          "end": 280.84,
          "text": "you're"
        },
        {
          "start": 280.84,
          "end": 281.0,
          "text": "talking"
        },
        {
          "start": 281.0,
          "end": 281.24,
          "text": "about"
        },
        {
          "start": 281.32,
          "end": 281.68,
          "text": "longstrared"
        },
        {
          "start": 281.68,
          "end": 282.04,
          "text": "equity,"
        },
        {
          "start": 282.04,
          "end": 282.16,
          "text": "long"
        },
        {
          "start": 282.16,
          "end": 282.36,
          "text": "shot"
        },
        {
          "start": 282.44,
          "end": 282.72,
          "text": "credit,"
        },
        {
          "start": 283.56,
          "end": 284.0,
          "text": "convert"
        },
        {
          "start": 284.08,
          "end": 284.32,
          "text": "arab"
        },
        {
          "start": 284.6,
          "end": 285.12,
          "text": "ballarb."
        },
        {
          "start": 285.44,
          "end": 285.6,
          "text": "As"
        },
        {
          "start": 285.6,
          "end": 285.68,
          "text": "it"
        },
        {
          "start": 285.68,
          "end": 285.88,
          "text": "got"
        },
        {
          "start": 285.88,
          "end": 286.0,
          "text": "more"
        },
        {
          "start": 286.0,
          "end": 286.4,
          "text": "difficult,"
        },
        {
          "start": 286.44,
          "end": 286.52,
          "text": "I"
        },
        {
          "start": 286.52,
          "end": 286.68,
          "text": "got"
        },
        {
          "start": 286.68,
          "end": 286.84,
          "text": "more"
        },
        {
          "start": 286.84,
          "end": 287.28,
          "text": "involved,"
        },
        {
          "start": 287.72,
          "end": 287.76,
          "text": "you"
        },
        {
          "start": 287.84,
          "end": 287.92,
          "text": "know."
        },
        {
          "start": 288.24,
          "end": 288.48,
          "text": "Since"
        },
        {
          "start": 288.52,
          "end": 288.72,
          "text": "then,"
        },
        {
          "start": 288.92,
          "end": 289.08,
          "text": "I've"
        },
        {
          "start": 289.12,
          "end": 289.36,
          "text": "worked"
        },
        {
          "start": 289.36,
          "end": 289.44,
          "text": "with"
        },
        {
          "start": 289.48,
          "end": 290.0,
          "text": "Albourne."
        },
        {
          "start": 290.0,
          "end": 290.08,
          "text": "I"
        },
        {
          "start": 290.12,
          "end": 290.36,
          "text": "joined"
        },
        {
          "start": 290.36,
          "end": 290.8,
          "text": "Albourne"
        },
        {
          "start": 290.84,
          "end": 290.88,
          "text": "for"
        },
        {
          "start": 291.04,
          "end": 291.2,
          "text": "four"
        },
        {
          "start": 291.24,
          "end": 291.28,
          "text": "and"
        },
        {
          "start": 291.32,
          "end": 291.36,
          "text": "a"
        },
        {
          "start": 291.36,
          "end": 291.48,
          "text": "bit"
        },
        {
          "start": 291.6,
          "end": 291.76,
          "text": "years"
        },
        {
          "start": 291.8,
          "end": 292.04,
          "text": "ago,"
        },
        {
          "start": 292.76,
          "end": 292.96,
          "text": "and"
        },
        {
          "start": 293.32,
          "end": 293.36,
          "text": "you"
        },
        {
          "start": 293.4,
          "end": 293.48,
          "text": "know,"
        },
        {
          "start": 293.56,
          "end": 293.64,
          "text": "with"
        },
        {
          "start": 293.64,
          "end": 293.72,
          "text": "my"
        },
        {
          "start": 293.76,
          "end": 294.08,
          "text": "colleague"
        },
        {
          "start": 294.12,
          "end": 294.44,
          "text": "Martina,"
        },
        {
          "start": 294.52,
          "end": 294.6,
          "text": "we"
        },
        {
          "start": 294.64,
          "end": 294.8,
          "text": "cover"
        },
        {
          "start": 294.92,
          "end": 294.96,
          "text": "the"
        },
        {
          "start": 295.04,
          "end": 295.28,
          "text": "multi"
        },
        {
          "start": 295.28,
          "end": 295.6,
          "text": "strategy"
        },
        {
          "start": 295.68,
          "end": 296.0,
          "text": "universe"
        },
        {
          "start": 296.0,
          "end": 296.44,
          "text": "globally."
        },
        {
          "start": 296.88,
          "end": 297.0,
          "text": "So"
        },
        {
          "start": 297.88,
          "end": 298.16,
          "text": "part"
        },
        {
          "start": 298.2,
          "end": 298.28,
          "text": "of"
        },
        {
          "start": 298.32,
          "end": 298.48,
          "text": "our"
        },
        {
          "start": 298.6,
          "end": 298.84,
          "text": "job"
        },
        {
          "start": 299.24,
          "end": 299.6,
          "text": "really"
        },
        {
          "start": 299.68,
          "end": 299.76,
          "text": "is"
        },
        {
          "start": 299.76,
          "end": 299.8,
          "text": "to"
        },
        {
          "start": 300.08,
          "end": 300.24,
          "text": "kind"
        },
        {
          "start": 300.24,
          "end": 300.32,
          "text": "of"
        },
        {
          "start": 300.96,
          "end": 301.2,
          "text": "dig"
        },
        {
          "start": 301.24,
          "end": 301.32,
          "text": "in"
        },
        {
          "start": 301.4,
          "end": 301.64,
          "text": "deep"
        },
        {
          "start": 302.04,
          "end": 302.28,
          "text": "into"
        },
        {
          "start": 302.28,
          "end": 302.32,
          "text": "the"
        },
        {
          "start": 302.4,
          "end": 303.08,
          "text": "multistrats,"
        },
        {
          "start": 303.12,
          "end": 303.2,
          "text": "not"
        },
        {
          "start": 303.44,
          "end": 303.56,
          "text": "just"
        },
        {
          "start": 303.88,
          "end": 304.12,
          "text": "learn"
        },
        {
          "start": 304.16,
          "end": 304.44,
          "text": "about"
        },
        {
          "start": 304.44,
          "end": 304.56,
          "text": "the"
        },
        {
          "start": 304.56,
          "end": 304.92,
          "text": "people,"
        },
        {
          "start": 305.44,
          "end": 305.52,
          "text": "but"
        },
        {
          "start": 305.68,
          "end": 305.8,
          "text": "the"
        },
        {
          "start": 305.84,
          "end": 306.36,
          "text": "process,"
        },
        {
          "start": 307.16,
          "end": 307.24,
          "text": "the"
        },
        {
          "start": 307.36,
          "end": 307.64,
          "text": "inner"
        },
        {
          "start": 307.64,
          "end": 308.16,
          "text": "mechanisms"
        },
        {
          "start": 308.2,
          "end": 308.24,
          "text": "of"
        },
        {
          "start": 308.28,
          "end": 308.36,
          "text": "what"
        },
        {
          "start": 308.4,
          "end": 309.0,
          "text": "differentiates"
        },
        {
          "start": 309.0,
          "end": 309.16,
          "text": "one"
        },
        {
          "start": 309.2,
          "end": 309.6,
          "text": "particular"
        },
        {
          "start": 309.64,
          "end": 309.84,
          "text": "multi"
        },
        {
          "start": 309.84,
          "end": 310.04,
          "text": "strat"
        },
        {
          "start": 310.08,
          "end": 310.2,
          "text": "from"
        },
        {
          "start": 310.24,
          "end": 310.52,
          "text": "another."
        },
        {
          "start": 310.84,
          "end": 310.92,
          "text": "And"
        },
        {
          "start": 310.96,
          "end": 311.04,
          "text": "the"
        },
        {
          "start": 311.04,
          "end": 311.24,
          "text": "really"
        },
        {
          "start": 311.28,
          "end": 311.48,
          "text": "cool"
        },
        {
          "start": 311.48,
          "end": 311.64,
          "text": "thing"
        },
        {
          "start": 311.68,
          "end": 311.76,
          "text": "is"
        },
        {
          "start": 311.76,
          "end": 311.84,
          "text": "that"
        },
        {
          "start": 311.88,
          "end": 312.08,
          "text": "they're"
        },
        {
          "start": 312.08,
          "end": 312.24,
          "text": "all"
        },
        {
          "start": 312.24,
          "end": 312.52,
          "text": "actually"
        },
        {
          "start": 312.6,
          "end": 312.8,
          "text": "really"
        },
        {
          "start": 312.84,
          "end": 313.16,
          "text": "different,"
        },
        {
          "start": 313.68,
          "end": 313.8,
          "text": "you"
        },
        {
          "start": 313.84,
          "end": 313.92,
          "text": "know."
        },
        {
          "start": 314.08,
          "end": 314.24,
          "text": "And"
        },
        {
          "start": 314.8,
          "end": 315.0,
          "text": "one"
        },
        {
          "start": 315.0,
          "end": 315.04,
          "text": "of"
        },
        {
          "start": 315.12,
          "end": 315.2,
          "text": "the"
        },
        {
          "start": 315.24,
          "end": 315.44,
          "text": "fun"
        },
        {
          "start": 315.52,
          "end": 315.84,
          "text": "things"
        },
        {
          "start": 316.12,
          "end": 316.4,
          "text": "listening"
        },
        {
          "start": 316.44,
          "end": 316.48,
          "text": "to"
        },
        {
          "start": 316.56,
          "end": 316.64,
          "text": "you"
        },
        {
          "start": 316.68,
          "end": 317.0,
          "text": "guys"
        },
        {
          "start": 317.28,
          "end": 317.4,
          "text": "is"
        },
        {
          "start": 317.84,
          "end": 318.04,
          "text": "when"
        },
        {
          "start": 318.08,
          "end": 318.2,
          "text": "you"
        },
        {
          "start": 318.24,
          "end": 318.44,
          "text": "talk"
        },
        {
          "start": 318.44,
          "end": 318.72,
          "text": "about"
        },
        {
          "start": 318.76,
          "end": 318.96,
          "text": "pod"
        },
        {
          "start": 318.96,
          "end": 319.28,
          "text": "shops"
        },
        {
          "start": 319.28,
          "end": 319.36,
          "text": "and"
        },
        {
          "start": 319.36,
          "end": 319.44,
          "text": "so"
        },
        {
          "start": 319.48,
          "end": 319.52,
          "text": "on"
        },
        {
          "start": 319.6,
          "end": 319.64,
          "text": "and"
        },
        {
          "start": 319.72,
          "end": 319.8,
          "text": "so"
        },
        {
          "start": 319.88,
          "end": 320.16,
          "text": "forth,"
        },
        {
          "start": 320.52,
          "end": 320.56,
          "text": "or"
        },
        {
          "start": 320.64,
          "end": 320.88,
          "text": "multi"
        },
        {
          "start": 320.92,
          "end": 321.24,
          "text": "strats"
        },
        {
          "start": 321.24,
          "end": 321.32,
          "text": "in"
        },
        {
          "start": 321.36,
          "end": 321.68,
          "text": "general,"
        },
        {
          "start": 321.76,
          "end": 321.8,
          "text": "I"
        },
        {
          "start": 321.84,
          "end": 321.92,
          "text": "mean,"
        },
        {
          "start": 322.0,
          "end": 322.2,
          "text": "there's"
        },
        {
          "start": 322.36,
          "end": 322.64,
          "text": "huge"
        },
        {
          "start": 322.64,
          "end": 323.16,
          "text": "differences"
        },
        {
          "start": 323.16,
          "end": 323.2,
          "text": "in"
        },
        {
          "start": 323.24,
          "end": 323.36,
          "text": "how"
        },
        {
          "start": 323.36,
          "end": 323.56,
          "text": "they're"
        },
        {
          "start": 323.6,
          "end": 323.8,
          "text": "run"
        },
        {
          "start": 323.84,
          "end": 324.36,
          "text": "internally,"
        },
        {
          "start": 324.8,
          "end": 324.88,
          "text": "you"
        },
        {
          "start": 324.88,
          "end": 325.0,
          "text": "know."
        },
        {
          "start": 325.08,
          "end": 325.2,
          "text": "And"
        },
        {
          "start": 325.24,
          "end": 325.32,
          "text": "the"
        },
        {
          "start": 325.36,
          "end": 325.52,
          "text": "other"
        },
        {
          "start": 325.56,
          "end": 325.68,
          "text": "thing"
        },
        {
          "start": 325.72,
          "end": 325.76,
          "text": "I"
        },
        {
          "start": 325.84,
          "end": 326.92,
          "text": "distinguish"
        },
        {
          "start": 327.04,
          "end": 327.12,
          "text": "in"
        },
        {
          "start": 327.16,
          "end": 327.24,
          "text": "the"
        },
        {
          "start": 327.28,
          "end": 327.56,
          "text": "multi"
        },
        {
          "start": 327.56,
          "end": 327.96,
          "text": "strategy"
        },
        {
          "start": 327.96,
          "end": 328.24,
          "text": "space"
        },
        {
          "start": 328.32,
          "end": 328.4,
          "text": "is"
        },
        {
          "start": 328.4,
          "end": 328.48,
          "text": "the"
        },
        {
          "start": 328.48,
          "end": 328.68,
          "text": "pod"
        },
        {
          "start": 328.72,
          "end": 329.0,
          "text": "shops,"
        },
        {
          "start": 329.0,
          "end": 329.2,
          "text": "which"
        },
        {
          "start": 329.2,
          "end": 329.32,
          "text": "are"
        },
        {
          "start": 329.36,
          "end": 329.4,
          "text": "the"
        },
        {
          "start": 329.4,
          "end": 329.76,
          "text": "classic"
        },
        {
          "start": 329.8,
          "end": 330.04,
          "text": "ones"
        },
        {
          "start": 330.08,
          "end": 330.16,
          "text": "that"
        },
        {
          "start": 330.16,
          "end": 330.36,
          "text": "are"
        },
        {
          "start": 330.52,
          "end": 330.6,
          "text": "you"
        },
        {
          "start": 330.64,
          "end": 330.8,
          "text": "know,"
        },
        {
          "start": 331.48,
          "end": 331.56,
          "text": "you"
        },
        {
          "start": 331.6,
          "end": 331.68,
          "text": "know,"
        },
        {
          "start": 331.8,
          "end": 331.88,
          "text": "with"
        },
        {
          "start": 331.92,
          "end": 332.0,
          "text": "the"
        },
        {
          "start": 332.0,
          "end": 332.16,
          "text": "three"
        },
        {
          "start": 332.24,
          "end": 332.44,
          "text": "layer"
        },
        {
          "start": 332.48,
          "end": 332.52,
          "text": "of"
        },
        {
          "start": 332.6,
          "end": 332.68,
          "text": "the"
        },
        {
          "start": 332.76,
          "end": 333.12,
          "text": "fees"
        },
        {
          "start": 333.72,
          "end": 334.08,
          "text": "versus"
        },
        {
          "start": 334.08,
          "end": 334.16,
          "text": "the"
        },
        {
          "start": 334.2,
          "end": 334.36,
          "text": "more"
        },
        {
          "start": 334.36,
          "end": 334.92,
          "text": "traditional"
        },
        {
          "start": 335.36,
          "end": 335.6,
          "text": "multi"
        },
        {
          "start": 335.6,
          "end": 336.0,
          "text": "strategy"
        },
        {
          "start": 336.0,
          "end": 336.16,
          "text": "hedge"
        },
        {
          "start": 336.2,
          "end": 336.4,
          "text": "funds,"
        },
        {
          "start": 336.4,
          "end": 336.56,
          "text": "which"
        },
        {
          "start": 336.56,
          "end": 336.64,
          "text": "are"
        },
        {
          "start": 336.68,
          "end": 336.8,
          "text": "two"
        },
        {
          "start": 336.8,
          "end": 336.88,
          "text": "and"
        },
        {
          "start": 336.92,
          "end": 337.24,
          "text": "twenty."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 338.0,
          "end": 338.2,
          "text": "Oh."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 338.44,
          "end": 338.6,
          "text": "That"
        },
        {
          "start": 338.68,
          "end": 338.72,
          "text": "is"
        },
        {
          "start": 338.76,
          "end": 338.88,
          "text": "an"
        },
        {
          "start": 338.92,
          "end": 339.28,
          "text": "important"
        },
        {
          "start": 339.28,
          "end": 339.64,
          "text": "difference,"
        },
        {
          "start": 339.72,
          "end": 339.92,
          "text": "isn't"
        },
        {
          "start": 339.92,
          "end": 340.04,
          "text": "it."
        },
        {
          "start": 340.36,
          "end": 340.72,
          "text": "Before"
        },
        {
          "start": 340.76,
          "end": 340.84,
          "text": "we"
        },
        {
          "start": 340.92,
          "end": 341.16,
          "text": "get"
        },
        {
          "start": 341.2,
          "end": 341.52,
          "text": "into"
        },
        {
          "start": 341.56,
          "end": 341.76,
          "text": "that,"
        },
        {
          "start": 342.08,
          "end": 342.16,
          "text": "I"
        },
        {
          "start": 342.2,
          "end": 342.36,
          "text": "want"
        },
        {
          "start": 342.4,
          "end": 342.44,
          "text": "to"
        },
        {
          "start": 342.48,
          "end": 342.72,
          "text": "ask,"
        },
        {
          "start": 342.96,
          "end": 343.12,
          "text": "when"
        },
        {
          "start": 343.16,
          "end": 343.4,
          "text": "you're"
        },
        {
          "start": 343.4,
          "end": 343.72,
          "text": "doing"
        },
        {
          "start": 343.92,
          "end": 344.12,
          "text": "due"
        },
        {
          "start": 344.16,
          "end": 344.8,
          "text": "diligence"
        },
        {
          "start": 345.24,
          "end": 345.44,
          "text": "on"
        },
        {
          "start": 346.32,
          "end": 346.8,
          "text": "possible"
        },
        {
          "start": 346.88,
          "end": 347.08,
          "text": "hedge"
        },
        {
          "start": 347.12,
          "end": 347.4,
          "text": "fund"
        },
        {
          "start": 347.48,
          "end": 348.16,
          "text": "investments,"
        },
        {
          "start": 348.44,
          "end": 348.6,
          "text": "how"
        },
        {
          "start": 348.6,
          "end": 348.68,
          "text": "do"
        },
        {
          "start": 348.68,
          "end": 348.76,
          "text": "you"
        },
        {
          "start": 348.8,
          "end": 348.88,
          "text": "go"
        },
        {
          "start": 348.96,
          "end": 349.24,
          "text": "about"
        },
        {
          "start": 349.24,
          "end": 349.48,
          "text": "doing"
        },
        {
          "start": 349.48,
          "end": 349.64,
          "text": "that?"
        },
        {
          "start": 349.68,
          "end": 350.0,
          "text": "Actually,"
        },
        {
          "start": 350.04,
          "end": 350.32,
          "text": "because"
        },
        {
          "start": 350.56,
          "end": 350.68,
          "text": "you"
        },
        {
          "start": 350.76,
          "end": 350.84,
          "text": "just"
        },
        {
          "start": 350.84,
          "end": 351.08,
          "text": "said"
        },
        {
          "start": 351.12,
          "end": 351.2,
          "text": "you"
        },
        {
          "start": 351.28,
          "end": 351.52,
          "text": "dig"
        },
        {
          "start": 351.56,
          "end": 351.88,
          "text": "into"
        },
        {
          "start": 352.2,
          "end": 352.28,
          "text": "you"
        },
        {
          "start": 352.32,
          "end": 352.4,
          "text": "know,"
        },
        {
          "start": 352.48,
          "end": 352.6,
          "text": "the"
        },
        {
          "start": 352.68,
          "end": 353.2,
          "text": "culture,"
        },
        {
          "start": 353.44,
          "end": 353.52,
          "text": "the"
        },
        {
          "start": 353.64,
          "end": 354.08,
          "text": "people,"
        },
        {
          "start": 354.48,
          "end": 354.72,
          "text": "risk"
        },
        {
          "start": 354.84,
          "end": 355.36,
          "text": "management."
        },
        {
          "start": 355.76,
          "end": 355.84,
          "text": "How"
        },
        {
          "start": 355.92,
          "end": 356.12,
          "text": "much"
        },
        {
          "start": 356.2,
          "end": 356.64,
          "text": "access"
        },
        {
          "start": 356.68,
          "end": 356.76,
          "text": "do"
        },
        {
          "start": 356.8,
          "end": 356.88,
          "text": "you"
        },
        {
          "start": 356.96,
          "end": 357.12,
          "text": "have"
        },
        {
          "start": 357.2,
          "end": 357.4,
          "text": "and"
        },
        {
          "start": 357.64,
          "end": 357.84,
          "text": "how"
        },
        {
          "start": 357.84,
          "end": 357.92,
          "text": "do"
        },
        {
          "start": 357.96,
          "end": 358.04,
          "text": "you"
        },
        {
          "start": 358.08,
          "end": 358.24,
          "text": "do"
        },
        {
          "start": 358.28,
          "end": 358.32,
          "text": "that?"
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 359.64,
          "end": 359.8,
          "text": "That's"
        },
        {
          "start": 359.84,
          "end": 360.2,
          "text": "another"
        },
        {
          "start": 360.32,
          "end": 360.52,
          "text": "big"
        },
        {
          "start": 360.6,
          "end": 360.88,
          "text": "question."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 361.44,
          "end": 361.56,
          "text": "So"
        },
        {
          "start": 361.68,
          "end": 361.76,
          "text": "the"
        },
        {
          "start": 361.8,
          "end": 361.96,
          "text": "thing"
        },
        {
          "start": 362.04,
          "end": 362.12,
          "text": "is"
        },
        {
          "start": 362.16,
          "end": 362.24,
          "text": "with"
        },
        {
          "start": 362.28,
          "end": 362.36,
          "text": "the"
        },
        {
          "start": 362.4,
          "end": 362.64,
          "text": "multi"
        },
        {
          "start": 362.64,
          "end": 362.96,
          "text": "strategy"
        },
        {
          "start": 363.0,
          "end": 363.2,
          "text": "hedge"
        },
        {
          "start": 363.2,
          "end": 363.36,
          "text": "fund"
        },
        {
          "start": 363.4,
          "end": 363.72,
          "text": "space"
        },
        {
          "start": 364.08,
          "end": 364.28,
          "text": "is"
        },
        {
          "start": 364.64,
          "end": 364.8,
          "text": "you"
        },
        {
          "start": 364.84,
          "end": 365.28,
          "text": "start"
        },
        {
          "start": 366.0,
          "end": 366.28,
          "text": "really"
        },
        {
          "start": 366.32,
          "end": 366.4,
          "text": "with"
        },
        {
          "start": 366.44,
          "end": 366.52,
          "text": "the"
        },
        {
          "start": 366.52,
          "end": 366.76,
          "text": "single"
        },
        {
          "start": 366.8,
          "end": 367.16,
          "text": "strategy"
        },
        {
          "start": 367.16,
          "end": 367.48,
          "text": "stuff,"
        },
        {
          "start": 367.8,
          "end": 368.0,
          "text": "and"
        },
        {
          "start": 368.76,
          "end": 368.96,
          "text": "it's"
        },
        {
          "start": 369.0,
          "end": 369.08,
          "text": "not"
        },
        {
          "start": 369.2,
          "end": 369.48,
          "text": "really"
        },
        {
          "start": 369.52,
          "end": 369.72,
          "text": "fair"
        },
        {
          "start": 369.76,
          "end": 369.84,
          "text": "to"
        },
        {
          "start": 369.84,
          "end": 370.0,
          "text": "ask"
        },
        {
          "start": 370.0,
          "end": 370.36,
          "text": "anybody"
        },
        {
          "start": 370.4,
          "end": 370.48,
          "text": "to"
        },
        {
          "start": 370.48,
          "end": 370.6,
          "text": "cover"
        },
        {
          "start": 370.68,
          "end": 370.92,
          "text": "multi"
        },
        {
          "start": 370.92,
          "end": 371.52,
          "text": "strategies"
        },
        {
          "start": 371.56,
          "end": 371.68,
          "text": "if"
        },
        {
          "start": 371.72,
          "end": 371.88,
          "text": "they"
        },
        {
          "start": 371.92,
          "end": 372.24,
          "text": "haven't"
        },
        {
          "start": 372.28,
          "end": 372.56,
          "text": "worked"
        },
        {
          "start": 372.56,
          "end": 372.8,
          "text": "hard"
        },
        {
          "start": 372.8,
          "end": 372.92,
          "text": "at"
        },
        {
          "start": 372.96,
          "end": 373.52,
          "text": "understanding"
        },
        {
          "start": 373.52,
          "end": 373.6,
          "text": "the"
        },
        {
          "start": 373.6,
          "end": 374.08,
          "text": "individual"
        },
        {
          "start": 374.08,
          "end": 374.84,
          "text": "contributions"
        },
        {
          "start": 374.88,
          "end": 375.2,
          "text": "of"
        },
        {
          "start": 375.44,
          "end": 375.64,
          "text": "all"
        },
        {
          "start": 375.68,
          "end": 375.76,
          "text": "the"
        },
        {
          "start": 375.8,
          "end": 376.2,
          "text": "different"
        },
        {
          "start": 376.56,
          "end": 376.92,
          "text": "trades"
        },
        {
          "start": 376.96,
          "end": 377.0,
          "text": "and"
        },
        {
          "start": 377.04,
          "end": 377.32,
          "text": "trade"
        },
        {
          "start": 377.36,
          "end": 377.6,
          "text": "types"
        },
        {
          "start": 377.6,
          "end": 377.68,
          "text": "that"
        },
        {
          "start": 377.72,
          "end": 377.84,
          "text": "make"
        },
        {
          "start": 377.88,
          "end": 377.96,
          "text": "up"
        },
        {
          "start": 378.0,
          "end": 378.04,
          "text": "a"
        },
        {
          "start": 378.08,
          "end": 378.28,
          "text": "multi"
        },
        {
          "start": 378.32,
          "end": 378.92,
          "text": "strategy."
        },
        {
          "start": 379.48,
          "end": 379.56,
          "text": "But"
        },
        {
          "start": 379.72,
          "end": 379.8,
          "text": "the"
        },
        {
          "start": 380.2,
          "end": 380.64,
          "text": "critical"
        },
        {
          "start": 380.64,
          "end": 380.76,
          "text": "thing,"
        },
        {
          "start": 380.76,
          "end": 380.8,
          "text": "and"
        },
        {
          "start": 380.84,
          "end": 380.88,
          "text": "you"
        },
        {
          "start": 381.16,
          "end": 381.52,
          "text": "alluded"
        },
        {
          "start": 381.56,
          "end": 381.64,
          "text": "to"
        },
        {
          "start": 381.64,
          "end": 381.76,
          "text": "this,"
        },
        {
          "start": 382.28,
          "end": 382.44,
          "text": "is"
        },
        {
          "start": 382.48,
          "end": 382.6,
          "text": "that"
        },
        {
          "start": 382.72,
          "end": 382.96,
          "text": "multi"
        },
        {
          "start": 382.96,
          "end": 383.36,
          "text": "strategy"
        },
        {
          "start": 383.36,
          "end": 383.56,
          "text": "hedge"
        },
        {
          "start": 383.56,
          "end": 383.88,
          "text": "funds"
        },
        {
          "start": 384.48,
          "end": 384.64,
          "text": "are"
        },
        {
          "start": 384.68,
          "end": 385.0,
          "text": "another"
        },
        {
          "start": 385.12,
          "end": 385.36,
          "text": "level"
        },
        {
          "start": 385.4,
          "end": 385.44,
          "text": "of"
        },
        {
          "start": 385.48,
          "end": 386.0,
          "text": "abstraction"
        },
        {
          "start": 386.48,
          "end": 386.76,
          "text": "away"
        },
        {
          "start": 386.8,
          "end": 387.0,
          "text": "from"
        },
        {
          "start": 387.0,
          "end": 387.08,
          "text": "the"
        },
        {
          "start": 387.16,
          "end": 387.64,
          "text": "markets."
        },
        {
          "start": 387.68,
          "end": 388.08,
          "text": "Because"
        },
        {
          "start": 388.76,
          "end": 389.0,
          "text": "yes,"
        },
        {
          "start": 389.08,
          "end": 389.2,
          "text": "we"
        },
        {
          "start": 389.24,
          "end": 389.36,
          "text": "do"
        },
        {
          "start": 389.44,
          "end": 389.6,
          "text": "look"
        },
        {
          "start": 389.64,
          "end": 389.76,
          "text": "at"
        },
        {
          "start": 389.76,
          "end": 390.12,
          "text": "trades,"
        },
        {
          "start": 390.12,
          "end": 390.24,
          "text": "at"
        },
        {
          "start": 390.24,
          "end": 390.72,
          "text": "traders"
        },
        {
          "start": 390.72,
          "end": 390.8,
          "text": "and"
        },
        {
          "start": 390.84,
          "end": 391.2,
          "text": "pms"
        },
        {
          "start": 391.2,
          "end": 391.28,
          "text": "and"
        },
        {
          "start": 391.28,
          "end": 391.56,
          "text": "stuff"
        },
        {
          "start": 391.6,
          "end": 391.68,
          "text": "like"
        },
        {
          "start": 391.68,
          "end": 391.84,
          "text": "that,"
        },
        {
          "start": 391.92,
          "end": 392.04,
          "text": "but"
        },
        {
          "start": 392.72,
          "end": 393.04,
          "text": "almost"
        },
        {
          "start": 393.04,
          "end": 393.16,
          "text": "as"
        },
        {
          "start": 393.2,
          "end": 393.56,
          "text": "important"
        },
        {
          "start": 393.56,
          "end": 393.72,
          "text": "as"
        },
        {
          "start": 393.72,
          "end": 393.88,
          "text": "you're"
        },
        {
          "start": 393.88,
          "end": 394.4,
          "text": "evaluating"
        },
        {
          "start": 394.4,
          "end": 394.56,
          "text": "them"
        },
        {
          "start": 394.56,
          "end": 394.64,
          "text": "as"
        },
        {
          "start": 394.72,
          "end": 395.04,
          "text": "business"
        },
        {
          "start": 395.04,
          "end": 395.4,
          "text": "models,"
        },
        {
          "start": 395.72,
          "end": 395.88,
          "text": "you're"
        },
        {
          "start": 395.92,
          "end": 396.36,
          "text": "evaluating"
        },
        {
          "start": 396.4,
          "end": 396.52,
          "text": "them"
        },
        {
          "start": 396.52,
          "end": 396.64,
          "text": "as"
        },
        {
          "start": 396.72,
          "end": 396.88,
          "text": "risk"
        },
        {
          "start": 396.92,
          "end": 397.24,
          "text": "models"
        },
        {
          "start": 397.24,
          "end": 397.32,
          "text": "and"
        },
        {
          "start": 397.36,
          "end": 397.76,
          "text": "investment"
        },
        {
          "start": 397.8,
          "end": 398.16,
          "text": "models,"
        },
        {
          "start": 398.68,
          "end": 398.88,
          "text": "and"
        },
        {
          "start": 399.2,
          "end": 399.32,
          "text": "you"
        },
        {
          "start": 399.36,
          "end": 399.48,
          "text": "know,"
        },
        {
          "start": 400.36,
          "end": 400.6,
          "text": "they're"
        },
        {
          "start": 400.64,
          "end": 400.88,
          "text": "all"
        },
        {
          "start": 400.92,
          "end": 401.24,
          "text": "super"
        },
        {
          "start": 401.24,
          "end": 401.84,
          "text": "interlinked."
        },
        {
          "start": 401.92,
          "end": 402.12,
          "text": "And"
        },
        {
          "start": 402.44,
          "end": 402.56,
          "text": "one"
        },
        {
          "start": 402.6,
          "end": 402.64,
          "text": "of"
        },
        {
          "start": 402.72,
          "end": 402.8,
          "text": "the"
        },
        {
          "start": 402.84,
          "end": 403.04,
          "text": "things"
        },
        {
          "start": 403.08,
          "end": 403.2,
          "text": "that"
        },
        {
          "start": 403.24,
          "end": 403.4,
          "text": "we"
        },
        {
          "start": 403.44,
          "end": 403.64,
          "text": "look"
        },
        {
          "start": 403.68,
          "end": 403.92,
          "text": "at"
        },
        {
          "start": 404.0,
          "end": 404.12,
          "text": "and"
        },
        {
          "start": 404.16,
          "end": 404.36,
          "text": "look"
        },
        {
          "start": 404.44,
          "end": 404.52,
          "text": "for"
        },
        {
          "start": 404.92,
          "end": 405.0,
          "text": "is"
        },
        {
          "start": 405.2,
          "end": 405.36,
          "text": "kind"
        },
        {
          "start": 405.4,
          "end": 405.48,
          "text": "of"
        },
        {
          "start": 405.52,
          "end": 406.24,
          "text": "consistency"
        },
        {
          "start": 406.92,
          "end": 407.4,
          "text": "between"
        },
        {
          "start": 408.04,
          "end": 408.24,
          "text": "all"
        },
        {
          "start": 408.32,
          "end": 408.4,
          "text": "the"
        },
        {
          "start": 408.4,
          "end": 409.0,
          "text": "strands,"
        },
        {
          "start": 409.28,
          "end": 409.68,
          "text": "because"
        },
        {
          "start": 410.36,
          "end": 410.52,
          "text": "if"
        },
        {
          "start": 410.56,
          "end": 410.6,
          "text": "you"
        },
        {
          "start": 410.68,
          "end": 410.76,
          "text": "have"
        },
        {
          "start": 410.84,
          "end": 411.08,
          "text": "things"
        },
        {
          "start": 411.08,
          "end": 411.16,
          "text": "that"
        },
        {
          "start": 411.2,
          "end": 411.32,
          "text": "are"
        },
        {
          "start": 411.48,
          "end": 411.56,
          "text": "in"
        },
        {
          "start": 411.6,
          "end": 412.08,
          "text": "conflict"
        },
        {
          "start": 412.08,
          "end": 412.64,
          "text": "internally,"
        },
        {
          "start": 413.52,
          "end": 413.6,
          "text": "you"
        },
        {
          "start": 413.72,
          "end": 413.84,
          "text": "end"
        },
        {
          "start": 413.92,
          "end": 414.0,
          "text": "up"
        },
        {
          "start": 414.0,
          "end": 414.08,
          "text": "with"
        },
        {
          "start": 414.12,
          "end": 414.2,
          "text": "a"
        },
        {
          "start": 414.24,
          "end": 414.8,
          "text": "suboptimal"
        },
        {
          "start": 414.84,
          "end": 415.16,
          "text": "outcome,"
        },
        {
          "start": 415.36,
          "end": 415.52,
          "text": "right,"
        },
        {
          "start": 415.56,
          "end": 415.6,
          "text": "I"
        },
        {
          "start": 415.64,
          "end": 415.76,
          "text": "mean,"
        },
        {
          "start": 415.8,
          "end": 415.96,
          "text": "we've"
        },
        {
          "start": 415.96,
          "end": 416.12,
          "text": "all"
        },
        {
          "start": 416.12,
          "end": 416.32,
          "text": "lived"
        },
        {
          "start": 416.32,
          "end": 416.4,
          "text": "that"
        },
        {
          "start": 416.44,
          "end": 416.52,
          "text": "in"
        },
        {
          "start": 416.56,
          "end": 416.68,
          "text": "our"
        },
        {
          "start": 416.68,
          "end": 416.84,
          "text": "own"
        },
        {
          "start": 416.88,
          "end": 417.2,
          "text": "personal"
        },
        {
          "start": 417.2,
          "end": 417.24,
          "text": "and"
        },
        {
          "start": 417.28,
          "end": 417.8,
          "text": "professional"
        },
        {
          "start": 417.8,
          "end": 418.12,
          "text": "lives."
        },
        {
          "start": 418.76,
          "end": 418.88,
          "text": "But"
        },
        {
          "start": 419.0,
          "end": 419.12,
          "text": "if"
        },
        {
          "start": 419.16,
          "end": 419.32,
          "text": "things"
        },
        {
          "start": 419.36,
          "end": 419.64,
          "text": "aren't"
        },
        {
          "start": 419.64,
          "end": 419.72,
          "text": "in"
        },
        {
          "start": 419.72,
          "end": 419.8,
          "text": "a"
        },
        {
          "start": 419.84,
          "end": 420.0,
          "text": "line,"
        },
        {
          "start": 420.32,
          "end": 420.4,
          "text": "and"
        },
        {
          "start": 420.48,
          "end": 420.56,
          "text": "you"
        },
        {
          "start": 420.6,
          "end": 420.84,
          "text": "mentioned"
        },
        {
          "start": 420.88,
          "end": 421.36,
          "text": "compensation,"
        },
        {
          "start": 421.56,
          "end": 422.0,
          "text": "competition"
        },
        {
          "start": 422.08,
          "end": 422.12,
          "text": "is"
        },
        {
          "start": 422.16,
          "end": 422.2,
          "text": "a"
        },
        {
          "start": 422.28,
          "end": 422.52,
          "text": "huge"
        },
        {
          "start": 422.52,
          "end": 422.72,
          "text": "part"
        },
        {
          "start": 422.76,
          "end": 422.8,
          "text": "of"
        },
        {
          "start": 422.84,
          "end": 422.92,
          "text": "that,"
        },
        {
          "start": 422.96,
          "end": 423.04,
          "text": "and"
        },
        {
          "start": 423.08,
          "end": 423.28,
          "text": "I'm"
        },
        {
          "start": 423.36,
          "end": 423.44,
          "text": "you"
        },
        {
          "start": 423.44,
          "end": 423.56,
          "text": "know,"
        },
        {
          "start": 423.72,
          "end": 423.84,
          "text": "one"
        },
        {
          "start": 423.88,
          "end": 423.92,
          "text": "of"
        },
        {
          "start": 423.96,
          "end": 424.04,
          "text": "the"
        },
        {
          "start": 424.04,
          "end": 424.2,
          "text": "things"
        },
        {
          "start": 424.24,
          "end": 424.48,
          "text": "I'd"
        },
        {
          "start": 424.56,
          "end": 424.92,
          "text": "argue"
        },
        {
          "start": 425.52,
          "end": 425.6,
          "text": "is"
        },
        {
          "start": 425.64,
          "end": 425.72,
          "text": "that"
        },
        {
          "start": 425.88,
          "end": 426.28,
          "text": "comp"
        },
        {
          "start": 426.6,
          "end": 427.12,
          "text": "affects"
        },
        {
          "start": 427.36,
          "end": 427.52,
          "text": "far,"
        },
        {
          "start": 427.72,
          "end": 427.96,
          "text": "far,"
        },
        {
          "start": 428.28,
          "end": 428.52,
          "text": "far"
        },
        {
          "start": 428.56,
          "end": 428.76,
          "text": "more"
        },
        {
          "start": 428.8,
          "end": 429.32,
          "text": "dimensions"
        },
        {
          "start": 429.36,
          "end": 429.44,
          "text": "of"
        },
        {
          "start": 429.44,
          "end": 429.52,
          "text": "a"
        },
        {
          "start": 429.56,
          "end": 429.8,
          "text": "multi"
        },
        {
          "start": 429.8,
          "end": 430.16,
          "text": "strategy"
        },
        {
          "start": 430.2,
          "end": 430.4,
          "text": "hedge"
        },
        {
          "start": 430.4,
          "end": 430.64,
          "text": "fund"
        },
        {
          "start": 431.2,
          "end": 431.36,
          "text": "than"
        },
        {
          "start": 431.44,
          "end": 431.76,
          "text": "almost"
        },
        {
          "start": 431.76,
          "end": 431.92,
          "text": "any"
        },
        {
          "start": 432.04,
          "end": 432.48,
          "text": "aspect."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 432.76,
          "end": 433.72,
          "text": "Yeah."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 434.08,
          "end": 434.12,
          "text": "No,"
        },
        {
          "start": 434.32,
          "end": 434.4,
          "text": "this"
        },
        {
          "start": 434.48,
          "end": 434.84,
          "text": "seems"
        },
        {
          "start": 435.04,
          "end": 435.32,
          "text": "very"
        },
        {
          "start": 435.32,
          "end": 435.92,
          "text": "interesting"
        },
        {
          "start": 436.08,
          "end": 436.16,
          "text": "to"
        },
        {
          "start": 436.24,
          "end": 436.32,
          "text": "me"
        },
        {
          "start": 436.44,
          "end": 436.84,
          "text": "because"
        },
        {
          "start": 437.0,
          "end": 437.36,
          "text": "often"
        },
        {
          "start": 437.44,
          "end": 437.56,
          "text": "it"
        },
        {
          "start": 437.6,
          "end": 437.92,
          "text": "feels"
        },
        {
          "start": 437.96,
          "end": 438.12,
          "text": "as"
        },
        {
          "start": 438.12,
          "end": 438.4,
          "text": "though,"
        },
        {
          "start": 438.88,
          "end": 439.2,
          "text": "okay,"
        },
        {
          "start": 439.24,
          "end": 439.32,
          "text": "you"
        },
        {
          "start": 439.36,
          "end": 439.44,
          "text": "have"
        },
        {
          "start": 439.52,
          "end": 439.6,
          "text": "some"
        },
        {
          "start": 439.72,
          "end": 440.2,
          "text": "investment"
        },
        {
          "start": 440.28,
          "end": 440.96,
          "text": "strategy"
        },
        {
          "start": 441.44,
          "end": 441.56,
          "text": "and"
        },
        {
          "start": 441.6,
          "end": 442.04,
          "text": "then"
        },
        {
          "start": 442.88,
          "end": 443.04,
          "text": "make"
        },
        {
          "start": 443.04,
          "end": 443.08,
          "text": "a"
        },
        {
          "start": 443.12,
          "end": 443.28,
          "text": "lot"
        },
        {
          "start": 443.32,
          "end": 443.36,
          "text": "of"
        },
        {
          "start": 443.4,
          "end": 443.76,
          "text": "money"
        },
        {
          "start": 443.8,
          "end": 443.88,
          "text": "and"
        },
        {
          "start": 443.92,
          "end": 444.04,
          "text": "then"
        },
        {
          "start": 444.12,
          "end": 444.4,
          "text": "okay,"
        },
        {
          "start": 444.4,
          "end": 444.48,
          "text": "some"
        },
        {
          "start": 444.56,
          "end": 444.64,
          "text": "of"
        },
        {
          "start": 444.68,
          "end": 444.76,
          "text": "it"
        },
        {
          "start": 444.8,
          "end": 444.96,
          "text": "goes"
        },
        {
          "start": 445.0,
          "end": 445.08,
          "text": "to"
        },
        {
          "start": 445.12,
          "end": 445.2,
          "text": "the"
        },
        {
          "start": 445.24,
          "end": 445.72,
          "text": "manager"
        },
        {
          "start": 446.08,
          "end": 446.24,
          "text": "and"
        },
        {
          "start": 446.64,
          "end": 446.8,
          "text": "some"
        },
        {
          "start": 446.84,
          "end": 446.92,
          "text": "of"
        },
        {
          "start": 446.96,
          "end": 447.08,
          "text": "it"
        },
        {
          "start": 447.12,
          "end": 447.36,
          "text": "goes"
        },
        {
          "start": 447.4,
          "end": 447.48,
          "text": "to"
        },
        {
          "start": 447.64,
          "end": 447.76,
          "text": "the"
        },
        {
          "start": 447.8,
          "end": 448.32,
          "text": "outside"
        },
        {
          "start": 448.36,
          "end": 448.84,
          "text": "investor."
        },
        {
          "start": 449.16,
          "end": 449.32,
          "text": "That's"
        },
        {
          "start": 449.36,
          "end": 449.48,
          "text": "how"
        },
        {
          "start": 449.48,
          "end": 449.56,
          "text": "I"
        },
        {
          "start": 449.6,
          "end": 449.88,
          "text": "conceive"
        },
        {
          "start": 449.96,
          "end": 450.12,
          "text": "of"
        },
        {
          "start": 450.12,
          "end": 450.44,
          "text": "things."
        },
        {
          "start": 450.52,
          "end": 450.6,
          "text": "But"
        },
        {
          "start": 450.68,
          "end": 450.76,
          "text": "it"
        },
        {
          "start": 450.76,
          "end": 450.96,
          "text": "really"
        },
        {
          "start": 451.04,
          "end": 451.28,
          "text": "does"
        },
        {
          "start": 451.36,
          "end": 451.68,
          "text": "seem"
        },
        {
          "start": 451.8,
          "end": 451.88,
          "text": "like"
        },
        {
          "start": 452.24,
          "end": 452.56,
          "text": "comp"
        },
        {
          "start": 452.64,
          "end": 453.16,
          "text": "structure"
        },
        {
          "start": 453.28,
          "end": 453.36,
          "text": "is"
        },
        {
          "start": 453.48,
          "end": 453.92,
          "text": "actually"
        },
        {
          "start": 454.08,
          "end": 454.32,
          "text": "core"
        },
        {
          "start": 454.4,
          "end": 454.48,
          "text": "to"
        },
        {
          "start": 454.52,
          "end": 454.6,
          "text": "the"
        },
        {
          "start": 454.6,
          "end": 455.0,
          "text": "business"
        },
        {
          "start": 455.0,
          "end": 455.28,
          "text": "model."
        },
        {
          "start": 455.28,
          "end": 455.4,
          "text": "But"
        },
        {
          "start": 455.44,
          "end": 455.72,
          "text": "before"
        },
        {
          "start": 455.72,
          "end": 455.8,
          "text": "we"
        },
        {
          "start": 455.8,
          "end": 455.96,
          "text": "get"
        },
        {
          "start": 456.0,
          "end": 456.08,
          "text": "to"
        },
        {
          "start": 456.12,
          "end": 456.16,
          "text": "that,"
        },
        {
          "start": 456.36,
          "end": 456.52,
          "text": "why"
        },
        {
          "start": 456.52,
          "end": 456.68,
          "text": "don't"
        },
        {
          "start": 456.68,
          "end": 456.76,
          "text": "you"
        },
        {
          "start": 456.76,
          "end": 457.12,
          "text": "actually"
        },
        {
          "start": 457.16,
          "end": 457.24,
          "text": "go"
        },
        {
          "start": 457.36,
          "end": 457.64,
          "text": "back"
        },
        {
          "start": 457.88,
          "end": 457.96,
          "text": "for"
        },
        {
          "start": 458.08,
          "end": 458.6,
          "text": "listeners,"
        },
        {
          "start": 458.76,
          "end": 458.88,
          "text": "and"
        },
        {
          "start": 458.96,
          "end": 459.08,
          "text": "for"
        },
        {
          "start": 459.16,
          "end": 459.24,
          "text": "my"
        },
        {
          "start": 459.44,
          "end": 459.68,
          "text": "sake,"
        },
        {
          "start": 460.08,
          "end": 460.24,
          "text": "when"
        },
        {
          "start": 460.28,
          "end": 460.36,
          "text": "you"
        },
        {
          "start": 460.44,
          "end": 460.96,
          "text": "distinguish"
        },
        {
          "start": 461.08,
          "end": 461.44,
          "text": "between"
        },
        {
          "start": 461.48,
          "end": 461.52,
          "text": "the"
        },
        {
          "start": 461.56,
          "end": 461.76,
          "text": "sort"
        },
        {
          "start": 461.76,
          "end": 461.84,
          "text": "of"
        },
        {
          "start": 461.88,
          "end": 462.4,
          "text": "traditional"
        },
        {
          "start": 462.44,
          "end": 462.64,
          "text": "two"
        },
        {
          "start": 462.64,
          "end": 462.72,
          "text": "and"
        },
        {
          "start": 462.8,
          "end": 463.2,
          "text": "twenty"
        },
        {
          "start": 463.44,
          "end": 464.2,
          "text": "multistrats"
        },
        {
          "start": 464.52,
          "end": 464.6,
          "text": "with"
        },
        {
          "start": 464.8,
          "end": 464.88,
          "text": "the"
        },
        {
          "start": 465.0,
          "end": 465.12,
          "text": "so"
        },
        {
          "start": 465.28,
          "end": 465.56,
          "text": "called"
        },
        {
          "start": 465.88,
          "end": 466.64,
          "text": "podshops,"
        },
        {
          "start": 467.08,
          "end": 467.12,
          "text": "In"
        },
        {
          "start": 467.24,
          "end": 467.32,
          "text": "my"
        },
        {
          "start": 467.4,
          "end": 467.68,
          "text": "mind,"
        },
        {
          "start": 467.76,
          "end": 467.84,
          "text": "I"
        },
        {
          "start": 468.04,
          "end": 468.56,
          "text": "associate"
        },
        {
          "start": 468.6,
          "end": 468.68,
          "text": "with"
        },
        {
          "start": 468.68,
          "end": 468.76,
          "text": "the"
        },
        {
          "start": 468.8,
          "end": 469.36,
          "text": "millenniums"
        },
        {
          "start": 469.44,
          "end": 469.52,
          "text": "of"
        },
        {
          "start": 469.56,
          "end": 469.68,
          "text": "the"
        },
        {
          "start": 469.68,
          "end": 470.04,
          "text": "world"
        },
        {
          "start": 470.24,
          "end": 470.32,
          "text": "but"
        },
        {
          "start": 470.44,
          "end": 470.64,
          "text": "talk"
        },
        {
          "start": 470.72,
          "end": 470.8,
          "text": "to"
        },
        {
          "start": 470.88,
          "end": 471.0,
          "text": "us"
        },
        {
          "start": 471.04,
          "end": 471.36,
          "text": "about"
        },
        {
          "start": 471.4,
          "end": 471.52,
          "text": "the"
        },
        {
          "start": 471.56,
          "end": 472.16,
          "text": "differences"
        },
        {
          "start": 472.2,
          "end": 472.28,
          "text": "in"
        },
        {
          "start": 472.32,
          "end": 472.52,
          "text": "these"
        },
        {
          "start": 472.68,
          "end": 473.08,
          "text": "business"
        },
        {
          "start": 473.12,
          "end": 473.48,
          "text": "models"
        },
        {
          "start": 473.64,
          "end": 473.8,
          "text": "when"
        },
        {
          "start": 473.84,
          "end": 473.92,
          "text": "you"
        },
        {
          "start": 474.04,
          "end": 474.2,
          "text": "use"
        },
        {
          "start": 474.28,
          "end": 474.4,
          "text": "these"
        },
        {
          "start": 474.48,
          "end": 474.84,
          "text": "terms."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 474.96,
          "end": 475.28,
          "text": "Yeah,"
        },
        {
          "start": 475.4,
          "end": 475.48,
          "text": "so"
        },
        {
          "start": 475.68,
          "end": 475.72,
          "text": "I"
        },
        {
          "start": 476.04,
          "end": 476.24,
          "text": "refer"
        },
        {
          "start": 476.32,
          "end": 476.4,
          "text": "to"
        },
        {
          "start": 476.4,
          "end": 476.52,
          "text": "two"
        },
        {
          "start": 476.6,
          "end": 476.68,
          "text": "and"
        },
        {
          "start": 476.72,
          "end": 477.08,
          "text": "twenty"
        },
        {
          "start": 477.6,
          "end": 477.92,
          "text": "simple"
        },
        {
          "start": 478.08,
          "end": 478.24,
          "text": "it's"
        },
        {
          "start": 478.28,
          "end": 478.44,
          "text": "a"
        },
        {
          "start": 478.48,
          "end": 478.8,
          "text": "straight"
        },
        {
          "start": 478.92,
          "end": 479.28,
          "text": "management"
        },
        {
          "start": 479.32,
          "end": 479.48,
          "text": "fee"
        },
        {
          "start": 479.48,
          "end": 479.52,
          "text": "of"
        },
        {
          "start": 479.52,
          "end": 479.84,
          "text": "two,"
        },
        {
          "start": 480.28,
          "end": 480.36,
          "text": "but"
        },
        {
          "start": 480.4,
          "end": 480.44,
          "text": "it"
        },
        {
          "start": 480.48,
          "end": 480.68,
          "text": "could"
        },
        {
          "start": 480.68,
          "end": 480.72,
          "text": "be"
        },
        {
          "start": 480.76,
          "end": 480.96,
          "text": "any"
        },
        {
          "start": 481.08,
          "end": 481.32,
          "text": "fixed"
        },
        {
          "start": 481.4,
          "end": 481.68,
          "text": "number,"
        },
        {
          "start": 482.16,
          "end": 482.36,
          "text": "and"
        },
        {
          "start": 482.56,
          "end": 482.64,
          "text": "a"
        },
        {
          "start": 482.68,
          "end": 483.12,
          "text": "performance"
        },
        {
          "start": 483.12,
          "end": 483.28,
          "text": "fee"
        },
        {
          "start": 483.32,
          "end": 483.36,
          "text": "of"
        },
        {
          "start": 483.36,
          "end": 483.64,
          "text": "twenty"
        },
        {
          "start": 483.64,
          "end": 483.96,
          "text": "percent"
        },
        {
          "start": 484.08,
          "end": 484.2,
          "text": "on"
        },
        {
          "start": 484.32,
          "end": 484.4,
          "text": "the"
        },
        {
          "start": 484.48,
          "end": 484.88,
          "text": "overall"
        },
        {
          "start": 484.92,
          "end": 485.48,
          "text": "portfolio."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 485.56,
          "end": 485.64,
          "text": "So"
        },
        {
          "start": 485.76,
          "end": 485.92,
          "text": "the"
        },
        {
          "start": 485.92,
          "end": 486.2,
          "text": "only"
        },
        {
          "start": 486.28,
          "end": 486.6,
          "text": "fees"
        },
        {
          "start": 486.6,
          "end": 487.08,
          "text": "paid."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 486.88,
          "end": 486.96,
          "text": "By"
        },
        {
          "start": 487.0,
          "end": 487.12,
          "text": "the"
        },
        {
          "start": 487.12,
          "end": 487.56,
          "text": "investor"
        },
        {
          "start": 487.56,
          "end": 487.68,
          "text": "are"
        },
        {
          "start": 487.72,
          "end": 487.8,
          "text": "the"
        },
        {
          "start": 487.84,
          "end": 488.16,
          "text": "management"
        },
        {
          "start": 488.2,
          "end": 488.4,
          "text": "fee,"
        },
        {
          "start": 488.4,
          "end": 488.56,
          "text": "which"
        },
        {
          "start": 488.6,
          "end": 488.64,
          "text": "is"
        },
        {
          "start": 488.68,
          "end": 489.08,
          "text": "idignated"
        },
        {
          "start": 489.12,
          "end": 489.16,
          "text": "in"
        },
        {
          "start": 489.2,
          "end": 489.6,
          "text": "advance,"
        },
        {
          "start": 490.12,
          "end": 490.48,
          "text": "plus"
        },
        {
          "start": 490.56,
          "end": 490.64,
          "text": "a"
        },
        {
          "start": 490.84,
          "end": 491.12,
          "text": "cut"
        },
        {
          "start": 491.52,
          "end": 491.68,
          "text": "of"
        },
        {
          "start": 491.72,
          "end": 492.2,
          "text": "the"
        },
        {
          "start": 492.24,
          "end": 492.56,
          "text": "gross"
        },
        {
          "start": 492.56,
          "end": 493.04,
          "text": "performance"
        },
        {
          "start": 493.04,
          "end": 493.12,
          "text": "of"
        },
        {
          "start": 493.12,
          "end": 493.2,
          "text": "the"
        },
        {
          "start": 493.2,
          "end": 493.64,
          "text": "portfolio"
        },
        {
          "start": 493.68,
          "end": 493.8,
          "text": "as"
        },
        {
          "start": 493.8,
          "end": 493.84,
          "text": "the"
        },
        {
          "start": 493.88,
          "end": 494.12,
          "text": "whole."
        },
        {
          "start": 494.48,
          "end": 494.6,
          "text": "And"
        },
        {
          "start": 494.64,
          "end": 494.8,
          "text": "that's"
        },
        {
          "start": 494.84,
          "end": 494.92,
          "text": "a"
        },
        {
          "start": 494.96,
          "end": 495.2,
          "text": "really"
        },
        {
          "start": 495.2,
          "end": 495.56,
          "text": "critical"
        },
        {
          "start": 495.64,
          "end": 496.0,
          "text": "distinction"
        },
        {
          "start": 496.08,
          "end": 496.32,
          "text": "between"
        },
        {
          "start": 496.92,
          "end": 497.24,
          "text": "between"
        },
        {
          "start": 497.28,
          "end": 497.44,
          "text": "them"
        },
        {
          "start": 497.48,
          "end": 497.56,
          "text": "and"
        },
        {
          "start": 497.6,
          "end": 497.68,
          "text": "the"
        },
        {
          "start": 497.68,
          "end": 498.24,
          "text": "platforms"
        },
        {
          "start": 498.32,
          "end": 498.36,
          "text": "or"
        },
        {
          "start": 498.4,
          "end": 498.6,
          "text": "pod"
        },
        {
          "start": 498.6,
          "end": 498.92,
          "text": "shops."
        },
        {
          "start": 499.4,
          "end": 499.6,
          "text": "Right,"
        },
        {
          "start": 499.68,
          "end": 499.8,
          "text": "so"
        },
        {
          "start": 499.84,
          "end": 499.92,
          "text": "a"
        },
        {
          "start": 499.92,
          "end": 500.16,
          "text": "pod"
        },
        {
          "start": 500.16,
          "end": 500.48,
          "text": "shop"
        },
        {
          "start": 500.84,
          "end": 501.08,
          "text": "has"
        },
        {
          "start": 501.12,
          "end": 501.32,
          "text": "all"
        },
        {
          "start": 501.36,
          "end": 501.44,
          "text": "that"
        },
        {
          "start": 502.52,
          "end": 502.96,
          "text": "right"
        },
        {
          "start": 503.08,
          "end": 503.32,
          "text": "now."
        },
        {
          "start": 503.44,
          "end": 503.72,
          "text": "First"
        },
        {
          "start": 503.76,
          "end": 504.04,
          "text": "off,"
        },
        {
          "start": 504.44,
          "end": 504.52,
          "text": "the"
        },
        {
          "start": 504.52,
          "end": 504.72,
          "text": "first"
        },
        {
          "start": 504.76,
          "end": 504.92,
          "text": "thing"
        },
        {
          "start": 504.92,
          "end": 505.04,
          "text": "that"
        },
        {
          "start": 505.08,
          "end": 505.52,
          "text": "happens"
        },
        {
          "start": 505.72,
          "end": 505.8,
          "text": "is"
        },
        {
          "start": 505.84,
          "end": 506.0,
          "text": "that"
        },
        {
          "start": 506.04,
          "end": 506.2,
          "text": "the"
        },
        {
          "start": 506.24,
          "end": 506.64,
          "text": "management"
        },
        {
          "start": 506.64,
          "end": 506.88,
          "text": "fee"
        },
        {
          "start": 507.0,
          "end": 507.16,
          "text": "may"
        },
        {
          "start": 507.24,
          "end": 507.32,
          "text": "or"
        },
        {
          "start": 507.32,
          "end": 507.48,
          "text": "may"
        },
        {
          "start": 507.48,
          "end": 507.6,
          "text": "not"
        },
        {
          "start": 507.64,
          "end": 507.72,
          "text": "be"
        },
        {
          "start": 507.8,
          "end": 508.12,
          "text": "fixed."
        },
        {
          "start": 508.12,
          "end": 508.2,
          "text": "It"
        },
        {
          "start": 508.24,
          "end": 508.4,
          "text": "can"
        },
        {
          "start": 508.48,
          "end": 508.56,
          "text": "be"
        },
        {
          "start": 508.64,
          "end": 508.88,
          "text": "what's"
        },
        {
          "start": 508.92,
          "end": 509.04,
          "text": "known"
        },
        {
          "start": 509.08,
          "end": 509.2,
          "text": "as"
        },
        {
          "start": 509.2,
          "end": 509.24,
          "text": "a"
        },
        {
          "start": 509.24,
          "end": 509.44,
          "text": "pass"
        },
        {
          "start": 509.48,
          "end": 509.68,
          "text": "through"
        },
        {
          "start": 509.68,
          "end": 509.92,
          "text": "fee,"
        },
        {
          "start": 510.28,
          "end": 510.52,
          "text": "where"
        },
        {
          "start": 510.6,
          "end": 510.76,
          "text": "it's"
        },
        {
          "start": 510.84,
          "end": 510.96,
          "text": "kind"
        },
        {
          "start": 510.96,
          "end": 511.04,
          "text": "of"
        },
        {
          "start": 511.04,
          "end": 511.12,
          "text": "a"
        },
        {
          "start": 511.12,
          "end": 511.44,
          "text": "blank"
        },
        {
          "start": 511.56,
          "end": 511.76,
          "text": "check"
        },
        {
          "start": 511.8,
          "end": 511.88,
          "text": "in"
        },
        {
          "start": 511.92,
          "end": 512.12,
          "text": "many"
        },
        {
          "start": 512.12,
          "end": 512.48,
          "text": "ways."
        },
        {
          "start": 512.88,
          "end": 512.96,
          "text": "For"
        },
        {
          "start": 513.0,
          "end": 513.08,
          "text": "the"
        },
        {
          "start": 513.08,
          "end": 513.28,
          "text": "most"
        },
        {
          "start": 513.28,
          "end": 513.48,
          "text": "part,"
        },
        {
          "start": 513.52,
          "end": 513.6,
          "text": "they"
        },
        {
          "start": 513.6,
          "end": 513.72,
          "text": "do"
        },
        {
          "start": 513.96,
          "end": 514.08,
          "text": "take"
        },
        {
          "start": 514.12,
          "end": 514.32,
          "text": "good"
        },
        {
          "start": 514.32,
          "end": 514.44,
          "text": "care"
        },
        {
          "start": 514.52,
          "end": 514.6,
          "text": "of"
        },
        {
          "start": 514.64,
          "end": 514.72,
          "text": "that."
        },
        {
          "start": 515.2,
          "end": 515.28,
          "text": "But"
        },
        {
          "start": 515.44,
          "end": 515.6,
          "text": "the"
        },
        {
          "start": 515.64,
          "end": 515.84,
          "text": "third"
        },
        {
          "start": 515.92,
          "end": 516.16,
          "text": "layer"
        },
        {
          "start": 516.16,
          "end": 516.2,
          "text": "of"
        },
        {
          "start": 516.24,
          "end": 516.48,
          "text": "fees"
        },
        {
          "start": 516.52,
          "end": 516.68,
          "text": "that's"
        },
        {
          "start": 516.76,
          "end": 516.96,
          "text": "really"
        },
        {
          "start": 517.0,
          "end": 517.52,
          "text": "important"
        },
        {
          "start": 517.64,
          "end": 517.76,
          "text": "is"
        },
        {
          "start": 517.76,
          "end": 517.92,
          "text": "that"
        },
        {
          "start": 517.96,
          "end": 518.16,
          "text": "there's"
        },
        {
          "start": 518.24,
          "end": 518.6,
          "text": "fees"
        },
        {
          "start": 518.72,
          "end": 519.16,
          "text": "payable"
        },
        {
          "start": 519.92,
          "end": 520.08,
          "text": "at"
        },
        {
          "start": 520.12,
          "end": 520.32,
          "text": "the"
        },
        {
          "start": 520.44,
          "end": 520.76,
          "text": "level"
        },
        {
          "start": 520.8,
          "end": 520.88,
          "text": "of"
        },
        {
          "start": 520.92,
          "end": 521.04,
          "text": "the"
        },
        {
          "start": 521.04,
          "end": 521.4,
          "text": "PM,"
        },
        {
          "start": 522.0,
          "end": 522.12,
          "text": "not"
        },
        {
          "start": 522.16,
          "end": 522.28,
          "text": "at"
        },
        {
          "start": 522.28,
          "end": 522.36,
          "text": "the"
        },
        {
          "start": 522.4,
          "end": 522.8,
          "text": "overall"
        },
        {
          "start": 522.84,
          "end": 523.12,
          "text": "fund."
        },
        {
          "start": 523.28,
          "end": 523.4,
          "text": "And"
        },
        {
          "start": 523.68,
          "end": 523.84,
          "text": "when"
        },
        {
          "start": 523.88,
          "end": 523.96,
          "text": "you"
        },
        {
          "start": 524.0,
          "end": 524.2,
          "text": "get"
        },
        {
          "start": 524.2,
          "end": 524.32,
          "text": "to"
        },
        {
          "start": 524.32,
          "end": 524.4,
          "text": "that"
        },
        {
          "start": 524.52,
          "end": 524.72,
          "text": "level,"
        },
        {
          "start": 524.76,
          "end": 524.92,
          "text": "there's"
        },
        {
          "start": 524.96,
          "end": 525.0,
          "text": "a"
        },
        {
          "start": 525.04,
          "end": 525.24,
          "text": "lot"
        },
        {
          "start": 525.24,
          "end": 525.32,
          "text": "of"
        },
        {
          "start": 525.36,
          "end": 525.64,
          "text": "things"
        },
        {
          "start": 525.68,
          "end": 525.8,
          "text": "that"
        },
        {
          "start": 526.12,
          "end": 526.4,
          "text": "people"
        },
        {
          "start": 526.44,
          "end": 526.6,
          "text": "take"
        },
        {
          "start": 526.6,
          "end": 526.68,
          "text": "for"
        },
        {
          "start": 526.72,
          "end": 527.08,
          "text": "granted"
        },
        {
          "start": 527.08,
          "end": 527.12,
          "text": "and"
        },
        {
          "start": 527.2,
          "end": 527.6,
          "text": "investing"
        },
        {
          "start": 527.64,
          "end": 527.68,
          "text": "just"
        },
        {
          "start": 527.72,
          "end": 528.04,
          "text": "simply"
        },
        {
          "start": 528.04,
          "end": 528.52,
          "text": "breakdown,"
        },
        {
          "start": 528.96,
          "end": 529.04,
          "text": "you"
        },
        {
          "start": 529.04,
          "end": 529.16,
          "text": "know."
        },
        {
          "start": 529.24,
          "end": 529.72,
          "text": "And"
        },
        {
          "start": 529.76,
          "end": 529.88,
          "text": "to"
        },
        {
          "start": 529.92,
          "end": 530.0,
          "text": "go"
        },
        {
          "start": 530.04,
          "end": 530.12,
          "text": "on"
        },
        {
          "start": 530.16,
          "end": 530.2,
          "text": "to"
        },
        {
          "start": 530.28,
          "end": 530.44,
          "text": "that,"
        },
        {
          "start": 530.52,
          "end": 530.6,
          "text": "like"
        },
        {
          "start": 530.64,
          "end": 530.76,
          "text": "the"
        },
        {
          "start": 530.8,
          "end": 531.0,
          "text": "one"
        },
        {
          "start": 531.04,
          "end": 531.2,
          "text": "thing"
        },
        {
          "start": 531.24,
          "end": 531.32,
          "text": "that"
        },
        {
          "start": 531.36,
          "end": 531.44,
          "text": "I"
        },
        {
          "start": 531.52,
          "end": 531.72,
          "text": "keep"
        },
        {
          "start": 531.76,
          "end": 532.04,
          "text": "getting"
        },
        {
          "start": 532.08,
          "end": 532.4,
          "text": "told,"
        },
        {
          "start": 533.04,
          "end": 533.12,
          "text": "you"
        },
        {
          "start": 533.16,
          "end": 533.24,
          "text": "know,"
        },
        {
          "start": 533.24,
          "end": 533.32,
          "text": "in"
        },
        {
          "start": 533.36,
          "end": 533.4,
          "text": "my"
        },
        {
          "start": 533.44,
          "end": 533.56,
          "text": "own"
        },
        {
          "start": 533.6,
          "end": 533.92,
          "text": "personal"
        },
        {
          "start": 533.92,
          "end": 534.28,
          "text": "investing"
        },
        {
          "start": 534.32,
          "end": 534.52,
          "text": "life"
        },
        {
          "start": 534.52,
          "end": 534.56,
          "text": "and"
        },
        {
          "start": 534.6,
          "end": 535.08,
          "text": "everybody's"
        },
        {
          "start": 535.08,
          "end": 535.4,
          "text": "personal"
        },
        {
          "start": 535.4,
          "end": 535.8,
          "text": "investing"
        },
        {
          "start": 535.84,
          "end": 536.12,
          "text": "life,"
        },
        {
          "start": 536.72,
          "end": 536.84,
          "text": "is"
        },
        {
          "start": 536.88,
          "end": 537.0,
          "text": "that"
        },
        {
          "start": 537.08,
          "end": 537.8,
          "text": "diversification"
        },
        {
          "start": 537.92,
          "end": 537.96,
          "text": "is"
        },
        {
          "start": 538.0,
          "end": 538.08,
          "text": "the"
        },
        {
          "start": 538.08,
          "end": 538.32,
          "text": "only"
        },
        {
          "start": 538.36,
          "end": 538.56,
          "text": "fee"
        },
        {
          "start": 538.6,
          "end": 538.84,
          "text": "launch"
        },
        {
          "start": 539.48,
          "end": 539.52,
          "text": "R."
        },
        {
          "start": 540.48,
          "end": 540.64,
          "text": "When"
        },
        {
          "start": 540.72,
          "end": 540.8,
          "text": "you"
        },
        {
          "start": 540.84,
          "end": 541.0,
          "text": "are"
        },
        {
          "start": 541.0,
          "end": 541.28,
          "text": "paying"
        },
        {
          "start": 541.32,
          "end": 541.8,
          "text": "performance"
        },
        {
          "start": 541.84,
          "end": 542.16,
          "text": "fees"
        },
        {
          "start": 543.04,
          "end": 543.24,
          "text": "on"
        },
        {
          "start": 543.52,
          "end": 543.64,
          "text": "a"
        },
        {
          "start": 544.16,
          "end": 544.24,
          "text": "on"
        },
        {
          "start": 544.4,
          "end": 544.88,
          "text": "individual"
        },
        {
          "start": 544.88,
          "end": 545.28,
          "text": "components"
        },
        {
          "start": 545.32,
          "end": 545.36,
          "text": "of"
        },
        {
          "start": 545.36,
          "end": 545.44,
          "text": "a"
        },
        {
          "start": 545.52,
          "end": 546.0,
          "text": "portfolio."
        },
        {
          "start": 546.4,
          "end": 547.16,
          "text": "Diversification"
        },
        {
          "start": 547.28,
          "end": 547.36,
          "text": "is"
        },
        {
          "start": 547.4,
          "end": 547.48,
          "text": "not"
        },
        {
          "start": 547.52,
          "end": 547.56,
          "text": "a"
        },
        {
          "start": 547.6,
          "end": 547.8,
          "text": "free"
        },
        {
          "start": 547.84,
          "end": 548.08,
          "text": "launch."
        },
        {
          "start": 548.12,
          "end": 548.16,
          "text": "It"
        },
        {
          "start": 548.24,
          "end": 548.48,
          "text": "costs"
        },
        {
          "start": 548.52,
          "end": 548.6,
          "text": "you"
        },
        {
          "start": 548.68,
          "end": 549.0,
          "text": "money,"
        },
        {
          "start": 549.68,
          "end": 549.92,
          "text": "real"
        },
        {
          "start": 549.96,
          "end": 550.28,
          "text": "money."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 550.92,
          "end": 551.16,
          "text": "Wait,"
        },
        {
          "start": 551.72,
          "end": 551.92,
          "text": "can"
        },
        {
          "start": 551.96,
          "end": 552.04,
          "text": "you"
        },
        {
          "start": 552.08,
          "end": 552.52,
          "text": "explain"
        },
        {
          "start": 553.08,
          "end": 553.24,
          "text": "how"
        },
        {
          "start": 553.24,
          "end": 553.32,
          "text": "do"
        },
        {
          "start": 553.44,
          "end": 553.84,
          "text": "clients?"
        },
        {
          "start": 553.84,
          "end": 553.96,
          "text": "How"
        },
        {
          "start": 553.96,
          "end": 554.04,
          "text": "do"
        },
        {
          "start": 554.12,
          "end": 554.68,
          "text": "investors"
        },
        {
          "start": 554.72,
          "end": 555.24,
          "text": "actually"
        },
        {
          "start": 555.44,
          "end": 555.76,
          "text": "pay"
        },
        {
          "start": 556.28,
          "end": 556.92,
          "text": "individual"
        },
        {
          "start": 556.96,
          "end": 557.48,
          "text": "pms?"
        },
        {
          "start": 557.52,
          "end": 557.6,
          "text": "Like,"
        },
        {
          "start": 557.64,
          "end": 557.76,
          "text": "how"
        },
        {
          "start": 557.8,
          "end": 557.96,
          "text": "does"
        },
        {
          "start": 558.0,
          "end": 558.12,
          "text": "that"
        },
        {
          "start": 558.16,
          "end": 558.44,
          "text": "work?"
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 558.96,
          "end": 559.28,
          "text": "Yeah?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 559.32,
          "end": 559.44,
          "text": "So"
        },
        {
          "start": 560.28,
          "end": 560.4,
          "text": "in"
        },
        {
          "start": 560.44,
          "end": 560.52,
          "text": "a"
        },
        {
          "start": 560.56,
          "end": 560.76,
          "text": "pod"
        },
        {
          "start": 560.8,
          "end": 561.04,
          "text": "shop,"
        },
        {
          "start": 561.16,
          "end": 561.28,
          "text": "what"
        },
        {
          "start": 561.36,
          "end": 561.44,
          "text": "you"
        },
        {
          "start": 561.48,
          "end": 561.6,
          "text": "have"
        },
        {
          "start": 561.72,
          "end": 561.84,
          "text": "you"
        },
        {
          "start": 561.84,
          "end": 562.0,
          "text": "think"
        },
        {
          "start": 562.04,
          "end": 562.32,
          "text": "about"
        },
        {
          "start": 562.32,
          "end": 562.6,
          "text": "it"
        },
        {
          "start": 562.68,
          "end": 562.76,
          "text": "is"
        },
        {
          "start": 562.84,
          "end": 562.92,
          "text": "you"
        },
        {
          "start": 563.04,
          "end": 563.2,
          "text": "have"
        },
        {
          "start": 563.4,
          "end": 563.48,
          "text": "you"
        },
        {
          "start": 563.52,
          "end": 563.64,
          "text": "know"
        },
        {
          "start": 563.8,
          "end": 563.88,
          "text": "a"
        },
        {
          "start": 563.96,
          "end": 564.24,
          "text": "number"
        },
        {
          "start": 564.24,
          "end": 564.32,
          "text": "of"
        },
        {
          "start": 564.32,
          "end": 564.8,
          "text": "pms,"
        },
        {
          "start": 564.88,
          "end": 565.24,
          "text": "anything"
        },
        {
          "start": 565.28,
          "end": 565.68,
          "text": "between"
        },
        {
          "start": 565.84,
          "end": 566.12,
          "text": "five"
        },
        {
          "start": 566.24,
          "end": 566.32,
          "text": "to"
        },
        {
          "start": 566.76,
          "end": 566.88,
          "text": "three"
        },
        {
          "start": 566.96,
          "end": 567.24,
          "text": "hundred"
        },
        {
          "start": 567.28,
          "end": 567.36,
          "text": "and"
        },
        {
          "start": 567.36,
          "end": 567.68,
          "text": "something."
        },
        {
          "start": 568.24,
          "end": 568.32,
          "text": "They"
        },
        {
          "start": 568.4,
          "end": 568.56,
          "text": "each"
        },
        {
          "start": 568.6,
          "end": 568.96,
          "text": "basically"
        },
        {
          "start": 569.0,
          "end": 569.08,
          "text": "have"
        },
        {
          "start": 569.08,
          "end": 569.2,
          "text": "their"
        },
        {
          "start": 569.2,
          "end": 569.36,
          "text": "own"
        },
        {
          "start": 569.36,
          "end": 569.8,
          "text": "individual"
        },
        {
          "start": 569.84,
          "end": 569.92,
          "text": "P"
        },
        {
          "start": 569.96,
          "end": 570.0,
          "text": "and"
        },
        {
          "start": 570.12,
          "end": 570.2,
          "text": "L."
        },
        {
          "start": 570.56,
          "end": 570.76,
          "text": "Right,"
        },
        {
          "start": 570.84,
          "end": 570.96,
          "text": "so"
        },
        {
          "start": 571.04,
          "end": 571.24,
          "text": "they"
        },
        {
          "start": 571.72,
          "end": 571.76,
          "text": "the"
        },
        {
          "start": 571.84,
          "end": 572.28,
          "text": "manager,"
        },
        {
          "start": 572.6,
          "end": 572.68,
          "text": "the"
        },
        {
          "start": 572.96,
          "end": 573.36,
          "text": "overall"
        },
        {
          "start": 573.36,
          "end": 573.64,
          "text": "fund"
        },
        {
          "start": 573.64,
          "end": 574.0,
          "text": "manager"
        },
        {
          "start": 574.08,
          "end": 574.28,
          "text": "track"
        },
        {
          "start": 574.44,
          "end": 574.76,
          "text": "tracks"
        },
        {
          "start": 574.8,
          "end": 575.0,
          "text": "each"
        },
        {
          "start": 575.04,
          "end": 575.84,
          "text": "PM"
        },
        {
          "start": 575.96,
          "end": 576.04,
          "text": "and"
        },
        {
          "start": 576.08,
          "end": 576.28,
          "text": "their"
        },
        {
          "start": 576.32,
          "end": 576.4,
          "text": "p"
        },
        {
          "start": 576.48,
          "end": 576.52,
          "text": "and"
        },
        {
          "start": 576.64,
          "end": 576.72,
          "text": "L."
        },
        {
          "start": 577.24,
          "end": 577.52,
          "text": "They'll"
        },
        {
          "start": 577.6,
          "end": 577.92,
          "text": "charge"
        },
        {
          "start": 577.92,
          "end": 578.2,
          "text": "back"
        },
        {
          "start": 578.4,
          "end": 578.52,
          "text": "all"
        },
        {
          "start": 578.52,
          "end": 578.6,
          "text": "the"
        },
        {
          "start": 578.6,
          "end": 578.92,
          "text": "appropriate"
        },
        {
          "start": 578.96,
          "end": 579.2,
          "text": "stuff"
        },
        {
          "start": 579.2,
          "end": 579.24,
          "text": "that"
        },
        {
          "start": 579.28,
          "end": 579.48,
          "text": "would"
        },
        {
          "start": 579.48,
          "end": 579.52,
          "text": "be"
        },
        {
          "start": 579.56,
          "end": 579.76,
          "text": "charged"
        },
        {
          "start": 579.76,
          "end": 579.8,
          "text": "to"
        },
        {
          "start": 579.8,
          "end": 579.88,
          "text": "that."
        },
        {
          "start": 579.84,
          "end": 579.92,
          "text": "They"
        },
        {
          "start": 580.0,
          "end": 580.16,
          "text": "will"
        },
        {
          "start": 580.16,
          "end": 580.48,
          "text": "normally"
        },
        {
          "start": 580.48,
          "end": 580.56,
          "text": "be"
        },
        {
          "start": 580.64,
          "end": 580.96,
          "text": "charged"
        },
        {
          "start": 581.44,
          "end": 581.96,
          "text": "Bloomberg"
        },
        {
          "start": 582.04,
          "end": 582.12,
          "text": "for"
        },
        {
          "start": 582.16,
          "end": 582.6,
          "text": "example,"
        },
        {
          "start": 582.72,
          "end": 582.84,
          "text": "all"
        },
        {
          "start": 582.92,
          "end": 583.08,
          "text": "other"
        },
        {
          "start": 583.16,
          "end": 583.48,
          "text": "trading"
        },
        {
          "start": 583.48,
          "end": 583.88,
          "text": "costs,"
        },
        {
          "start": 583.96,
          "end": 584.04,
          "text": "the"
        },
        {
          "start": 584.04,
          "end": 584.48,
          "text": "analysts"
        },
        {
          "start": 584.52,
          "end": 584.72,
          "text": "costs"
        },
        {
          "start": 584.8,
          "end": 585.2,
          "text": "perhaps,"
        },
        {
          "start": 585.68,
          "end": 585.8,
          "text": "and"
        },
        {
          "start": 585.84,
          "end": 585.96,
          "text": "then"
        },
        {
          "start": 586.0,
          "end": 586.16,
          "text": "if"
        },
        {
          "start": 586.16,
          "end": 586.24,
          "text": "that"
        },
        {
          "start": 586.36,
          "end": 586.68,
          "text": "number"
        },
        {
          "start": 586.84,
          "end": 586.92,
          "text": "is"
        },
        {
          "start": 586.92,
          "end": 587.16,
          "text": "above"
        },
        {
          "start": 587.24,
          "end": 587.52,
          "text": "zero,"
        },
        {
          "start": 588.0,
          "end": 588.12,
          "text": "the"
        },
        {
          "start": 588.12,
          "end": 588.44,
          "text": "PM"
        },
        {
          "start": 588.52,
          "end": 588.76,
          "text": "gets"
        },
        {
          "start": 588.76,
          "end": 588.8,
          "text": "a"
        },
        {
          "start": 588.88,
          "end": 589.24,
          "text": "payment"
        },
        {
          "start": 589.32,
          "end": 589.52,
          "text": "from"
        },
        {
          "start": 589.52,
          "end": 589.76,
          "text": "the"
        },
        {
          "start": 589.8,
          "end": 590.24,
          "text": "manager"
        },
        {
          "start": 590.28,
          "end": 590.48,
          "text": "out"
        },
        {
          "start": 590.48,
          "end": 590.56,
          "text": "of"
        },
        {
          "start": 590.6,
          "end": 590.68,
          "text": "the"
        },
        {
          "start": 590.68,
          "end": 590.96,
          "text": "fund"
        },
        {
          "start": 591.4,
          "end": 591.48,
          "text": "and"
        },
        {
          "start": 591.52,
          "end": 591.72,
          "text": "that's"
        },
        {
          "start": 591.72,
          "end": 591.88,
          "text": "their"
        },
        {
          "start": 591.88,
          "end": 592.28,
          "text": "performance"
        },
        {
          "start": 592.32,
          "end": 592.48,
          "text": "fees."
        },
        {
          "start": 592.52,
          "end": 592.56,
          "text": "So"
        },
        {
          "start": 592.6,
          "end": 592.68,
          "text": "the"
        },
        {
          "start": 592.72,
          "end": 593.08,
          "text": "investors"
        },
        {
          "start": 593.12,
          "end": 593.48,
          "text": "themselves"
        },
        {
          "start": 593.52,
          "end": 593.72,
          "text": "don't"
        },
        {
          "start": 593.72,
          "end": 594.04,
          "text": "actually"
        },
        {
          "start": 594.04,
          "end": 594.2,
          "text": "pay"
        },
        {
          "start": 594.24,
          "end": 595.08,
          "text": "them,"
        },
        {
          "start": 595.28,
          "end": 595.76,
          "text": "paid."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 595.52,
          "end": 595.6,
          "text": "For"
        },
        {
          "start": 595.68,
          "end": 595.84,
          "text": "them"
        },
        {
          "start": 595.84,
          "end": 596.0,
          "text": "by"
        },
        {
          "start": 596.04,
          "end": 596.08,
          "text": "the"
        },
        {
          "start": 596.12,
          "end": 596.52,
          "text": "manager."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 597.8,
          "end": 598.12,
          "text": "Now,"
        },
        {
          "start": 598.32,
          "end": 598.44,
          "text": "you"
        },
        {
          "start": 598.6,
          "end": 598.88,
          "text": "said"
        },
        {
          "start": 598.92,
          "end": 599.12,
          "text": "that"
        },
        {
          "start": 599.2,
          "end": 599.4,
          "text": "there"
        },
        {
          "start": 599.48,
          "end": 599.68,
          "text": "can"
        },
        {
          "start": 599.72,
          "end": 599.88,
          "text": "be"
        },
        {
          "start": 600.0,
          "end": 600.08,
          "text": "the"
        },
        {
          "start": 600.36,
          "end": 601.04,
          "text": "instances"
        },
        {
          "start": 601.16,
          "end": 601.2,
          "text": "in"
        },
        {
          "start": 601.32,
          "end": 601.44,
          "text": "when"
        },
        {
          "start": 601.92,
          "end": 602.72,
          "text": "diversification"
        },
        {
          "start": 602.96,
          "end": 603.08,
          "text": "is"
        },
        {
          "start": 603.12,
          "end": 603.2,
          "text": "not"
        },
        {
          "start": 603.28,
          "end": 603.36,
          "text": "a"
        },
        {
          "start": 603.4,
          "end": 603.6,
          "text": "free"
        },
        {
          "start": 603.64,
          "end": 603.92,
          "text": "launch,"
        },
        {
          "start": 603.96,
          "end": 604.04,
          "text": "and"
        },
        {
          "start": 604.08,
          "end": 604.16,
          "text": "so"
        },
        {
          "start": 604.2,
          "end": 604.28,
          "text": "I"
        },
        {
          "start": 604.4,
          "end": 604.64,
          "text": "take"
        },
        {
          "start": 604.68,
          "end": 604.88,
          "text": "that"
        },
        {
          "start": 605.24,
          "end": 605.32,
          "text": "to"
        },
        {
          "start": 605.48,
          "end": 605.68,
          "text": "mean"
        },
        {
          "start": 605.84,
          "end": 605.92,
          "text": "that"
        },
        {
          "start": 606.0,
          "end": 606.08,
          "text": "you"
        },
        {
          "start": 606.16,
          "end": 606.32,
          "text": "can"
        },
        {
          "start": 606.4,
          "end": 606.56,
          "text": "have"
        },
        {
          "start": 606.96,
          "end": 607.84,
          "text": "situations"
        },
        {
          "start": 607.88,
          "end": 608.0,
          "text": "in"
        },
        {
          "start": 608.04,
          "end": 608.32,
          "text": "which"
        },
        {
          "start": 608.68,
          "end": 608.84,
          "text": "at"
        },
        {
          "start": 608.88,
          "end": 609.04,
          "text": "the"
        },
        {
          "start": 609.08,
          "end": 609.32,
          "text": "fund"
        },
        {
          "start": 609.48,
          "end": 609.76,
          "text": "level"
        },
        {
          "start": 610.16,
          "end": 610.24,
          "text": "you"
        },
        {
          "start": 610.28,
          "end": 610.52,
          "text": "don't"
        },
        {
          "start": 610.52,
          "end": 610.6,
          "text": "have"
        },
        {
          "start": 610.64,
          "end": 610.72,
          "text": "a"
        },
        {
          "start": 610.76,
          "end": 610.96,
          "text": "good"
        },
        {
          "start": 611.04,
          "end": 611.28,
          "text": "year"
        },
        {
          "start": 611.88,
          "end": 612.04,
          "text": "and"
        },
        {
          "start": 612.24,
          "end": 612.4,
          "text": "you're"
        },
        {
          "start": 612.44,
          "end": 612.56,
          "text": "not"
        },
        {
          "start": 612.56,
          "end": 612.8,
          "text": "making"
        },
        {
          "start": 612.84,
          "end": 613.04,
          "text": "any"
        },
        {
          "start": 613.08,
          "end": 613.4,
          "text": "money."
        },
        {
          "start": 613.68,
          "end": 613.76,
          "text": "But"
        },
        {
          "start": 613.92,
          "end": 614.16,
          "text": "some"
        },
        {
          "start": 614.36,
          "end": 614.64,
          "text": "pod"
        },
        {
          "start": 614.76,
          "end": 615.32,
          "text": "managers"
        },
        {
          "start": 615.48,
          "end": 615.6,
          "text": "had"
        },
        {
          "start": 615.64,
          "end": 615.72,
          "text": "a"
        },
        {
          "start": 615.72,
          "end": 615.92,
          "text": "great"
        },
        {
          "start": 616.0,
          "end": 616.16,
          "text": "year"
        },
        {
          "start": 616.2,
          "end": 616.24,
          "text": "and"
        },
        {
          "start": 616.28,
          "end": 616.4,
          "text": "they"
        },
        {
          "start": 616.44,
          "end": 616.72,
          "text": "still"
        },
        {
          "start": 616.76,
          "end": 616.88,
          "text": "have"
        },
        {
          "start": 616.96,
          "end": 617.04,
          "text": "to"
        },
        {
          "start": 617.04,
          "end": 617.28,
          "text": "get"
        },
        {
          "start": 617.32,
          "end": 617.64,
          "text": "paid."
        },
        {
          "start": 617.92,
          "end": 618.0,
          "text": "And"
        },
        {
          "start": 618.04,
          "end": 618.12,
          "text": "so"
        },
        {
          "start": 618.2,
          "end": 618.28,
          "text": "you"
        },
        {
          "start": 618.72,
          "end": 618.92,
          "text": "talk"
        },
        {
          "start": 618.92,
          "end": 618.96,
          "text": "to"
        },
        {
          "start": 619.08,
          "end": 619.16,
          "text": "us"
        },
        {
          "start": 619.16,
          "end": 619.2,
          "text": "a"
        },
        {
          "start": 619.24,
          "end": 619.44,
          "text": "little"
        },
        {
          "start": 619.44,
          "end": 619.56,
          "text": "bit"
        },
        {
          "start": 619.56,
          "end": 619.8,
          "text": "about"
        },
        {
          "start": 619.84,
          "end": 620.0,
          "text": "these"
        },
        {
          "start": 620.04,
          "end": 620.68,
          "text": "conditions"
        },
        {
          "start": 621.12,
          "end": 621.44,
          "text": "under"
        },
        {
          "start": 621.52,
          "end": 621.84,
          "text": "which"
        },
        {
          "start": 622.48,
          "end": 622.6,
          "text": "that"
        },
        {
          "start": 622.68,
          "end": 623.52,
          "text": "diversification"
        },
        {
          "start": 623.6,
          "end": 623.72,
          "text": "can"
        },
        {
          "start": 623.76,
          "end": 623.84,
          "text": "be"
        },
        {
          "start": 623.88,
          "end": 624.24,
          "text": "costly."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 624.44,
          "end": 624.6,
          "text": "Yeah,"
        },
        {
          "start": 624.68,
          "end": 624.92,
          "text": "let's"
        },
        {
          "start": 625.04,
          "end": 625.16,
          "text": "use"
        },
        {
          "start": 625.16,
          "end": 625.24,
          "text": "a"
        },
        {
          "start": 625.24,
          "end": 625.56,
          "text": "simple,"
        },
        {
          "start": 625.8,
          "end": 626.12,
          "text": "simple"
        },
        {
          "start": 626.16,
          "end": 626.48,
          "text": "model."
        },
        {
          "start": 626.6,
          "end": 626.72,
          "text": "So"
        },
        {
          "start": 626.84,
          "end": 626.92,
          "text": "you"
        },
        {
          "start": 627.0,
          "end": 627.12,
          "text": "have"
        },
        {
          "start": 627.16,
          "end": 627.28,
          "text": "a"
        },
        {
          "start": 627.32,
          "end": 627.52,
          "text": "pod"
        },
        {
          "start": 627.56,
          "end": 627.84,
          "text": "shop,"
        },
        {
          "start": 628.0,
          "end": 628.08,
          "text": "but"
        },
        {
          "start": 628.16,
          "end": 628.24,
          "text": "you"
        },
        {
          "start": 628.24,
          "end": 628.4,
          "text": "want"
        },
        {
          "start": 628.4,
          "end": 628.44,
          "text": "to"
        },
        {
          "start": 628.48,
          "end": 628.6,
          "text": "got"
        },
        {
          "start": 628.6,
          "end": 628.72,
          "text": "two"
        },
        {
          "start": 628.76,
          "end": 629.16,
          "text": "pods,"
        },
        {
          "start": 629.4,
          "end": 629.48,
          "text": "and"
        },
        {
          "start": 629.52,
          "end": 629.64,
          "text": "at"
        },
        {
          "start": 629.64,
          "end": 629.68,
          "text": "the"
        },
        {
          "start": 629.76,
          "end": 629.84,
          "text": "end"
        },
        {
          "start": 629.88,
          "end": 629.92,
          "text": "of"
        },
        {
          "start": 629.96,
          "end": 630.0,
          "text": "the"
        },
        {
          "start": 630.08,
          "end": 630.24,
          "text": "year,"
        },
        {
          "start": 630.28,
          "end": 630.44,
          "text": "one"
        },
        {
          "start": 630.44,
          "end": 630.68,
          "text": "pod"
        },
        {
          "start": 630.72,
          "end": 630.76,
          "text": "is"
        },
        {
          "start": 630.84,
          "end": 630.92,
          "text": "up"
        },
        {
          "start": 630.96,
          "end": 631.08,
          "text": "ten"
        },
        {
          "start": 631.12,
          "end": 631.48,
          "text": "dollars"
        },
        {
          "start": 631.8,
          "end": 631.92,
          "text": "and"
        },
        {
          "start": 631.96,
          "end": 632.12,
          "text": "one"
        },
        {
          "start": 632.16,
          "end": 632.4,
          "text": "pod"
        },
        {
          "start": 632.44,
          "end": 632.52,
          "text": "is"
        },
        {
          "start": 632.56,
          "end": 632.72,
          "text": "down"
        },
        {
          "start": 632.76,
          "end": 632.92,
          "text": "ten"
        },
        {
          "start": 633.0,
          "end": 633.32,
          "text": "dollars."
        },
        {
          "start": 633.6,
          "end": 633.84,
          "text": "Because"
        },
        {
          "start": 633.88,
          "end": 634.0,
          "text": "it's"
        },
        {
          "start": 634.04,
          "end": 634.2,
          "text": "pod"
        },
        {
          "start": 634.24,
          "end": 634.48,
          "text": "shop,"
        },
        {
          "start": 634.48,
          "end": 634.64,
          "text": "you're"
        },
        {
          "start": 634.64,
          "end": 634.92,
          "text": "paying"
        },
        {
          "start": 635.16,
          "end": 635.24,
          "text": "on"
        },
        {
          "start": 635.28,
          "end": 635.36,
          "text": "the"
        },
        {
          "start": 635.36,
          "end": 635.68,
          "text": "panel"
        },
        {
          "start": 635.72,
          "end": 635.8,
          "text": "of"
        },
        {
          "start": 635.8,
          "end": 635.92,
          "text": "each"
        },
        {
          "start": 635.96,
          "end": 636.4,
          "text": "individual"
        },
        {
          "start": 636.44,
          "end": 637.12,
          "text": "PM."
        },
        {
          "start": 637.32,
          "end": 637.44,
          "text": "So"
        },
        {
          "start": 637.52,
          "end": 637.68,
          "text": "let's"
        },
        {
          "start": 637.68,
          "end": 637.84,
          "text": "say"
        },
        {
          "start": 637.84,
          "end": 637.96,
          "text": "it's"
        },
        {
          "start": 637.96,
          "end": 638.2,
          "text": "twenty"
        },
        {
          "start": 638.2,
          "end": 638.52,
          "text": "percent."
        },
        {
          "start": 638.96,
          "end": 639.2,
          "text": "Right,"
        },
        {
          "start": 639.24,
          "end": 639.36,
          "text": "So"
        },
        {
          "start": 640.28,
          "end": 640.36,
          "text": "on"
        },
        {
          "start": 640.4,
          "end": 640.48,
          "text": "a"
        },
        {
          "start": 640.52,
          "end": 640.84,
          "text": "gross"
        },
        {
          "start": 640.84,
          "end": 641.12,
          "text": "before"
        },
        {
          "start": 641.12,
          "end": 641.36,
          "text": "fees"
        },
        {
          "start": 641.44,
          "end": 641.76,
          "text": "basis"
        },
        {
          "start": 641.76,
          "end": 641.92,
          "text": "your"
        },
        {
          "start": 641.92,
          "end": 642.32,
          "text": "flat."
        },
        {
          "start": 642.92,
          "end": 643.32,
          "text": "However,"
        },
        {
          "start": 643.72,
          "end": 643.88,
          "text": "you're"
        },
        {
          "start": 643.88,
          "end": 644.12,
          "text": "paying"
        },
        {
          "start": 644.12,
          "end": 644.16,
          "text": "the"
        },
        {
          "start": 644.2,
          "end": 644.32,
          "text": "guy"
        },
        {
          "start": 644.36,
          "end": 644.48,
          "text": "who"
        },
        {
          "start": 644.56,
          "end": 644.6,
          "text": "was"
        },
        {
          "start": 644.68,
          "end": 644.76,
          "text": "up"
        },
        {
          "start": 644.8,
          "end": 644.92,
          "text": "ten"
        },
        {
          "start": 644.96,
          "end": 645.28,
          "text": "dollars"
        },
        {
          "start": 645.28,
          "end": 645.44,
          "text": "two"
        },
        {
          "start": 645.48,
          "end": 645.8,
          "text": "dollars,"
        },
        {
          "start": 646.52,
          "end": 646.76,
          "text": "right."
        },
        {
          "start": 646.84,
          "end": 646.92,
          "text": "So"
        },
        {
          "start": 647.08,
          "end": 647.4,
          "text": "after"
        },
        {
          "start": 647.44,
          "end": 647.6,
          "text": "this"
        },
        {
          "start": 648.32,
          "end": 648.4,
          "text": "is"
        },
        {
          "start": 648.56,
          "end": 648.84,
          "text": "added"
        },
        {
          "start": 648.88,
          "end": 649.2,
          "text": "together,"
        },
        {
          "start": 649.32,
          "end": 649.48,
          "text": "now"
        },
        {
          "start": 649.48,
          "end": 649.64,
          "text": "your"
        },
        {
          "start": 649.64,
          "end": 650.0,
          "text": "portfolio"
        },
        {
          "start": 650.08,
          "end": 650.12,
          "text": "is"
        },
        {
          "start": 650.12,
          "end": 650.28,
          "text": "down"
        },
        {
          "start": 650.32,
          "end": 650.44,
          "text": "two"
        },
        {
          "start": 650.52,
          "end": 651.04,
          "text": "dollars."
        },
        {
          "start": 651.24,
          "end": 651.4,
          "text": "And"
        },
        {
          "start": 651.52,
          "end": 651.76,
          "text": "that"
        },
        {
          "start": 651.96,
          "end": 652.04,
          "text": "is"
        },
        {
          "start": 652.12,
          "end": 652.4,
          "text": "netting"
        },
        {
          "start": 652.48,
          "end": 652.68,
          "text": "risk."
        },
        {
          "start": 653.24,
          "end": 653.36,
          "text": "And"
        },
        {
          "start": 653.4,
          "end": 653.48,
          "text": "the"
        },
        {
          "start": 653.52,
          "end": 653.92,
          "text": "interesting"
        },
        {
          "start": 653.96,
          "end": 654.12,
          "text": "thing"
        },
        {
          "start": 654.16,
          "end": 654.44,
          "text": "about"
        },
        {
          "start": 654.44,
          "end": 654.72,
          "text": "netting"
        },
        {
          "start": 654.8,
          "end": 655.0,
          "text": "risk"
        },
        {
          "start": 655.12,
          "end": 655.16,
          "text": "is"
        },
        {
          "start": 655.2,
          "end": 655.6,
          "text": "because"
        },
        {
          "start": 656.16,
          "end": 656.28,
          "text": "to"
        },
        {
          "start": 656.28,
          "end": 656.48,
          "text": "bring"
        },
        {
          "start": 656.52,
          "end": 656.6,
          "text": "it"
        },
        {
          "start": 656.64,
          "end": 656.8,
          "text": "out"
        },
        {
          "start": 656.84,
          "end": 657.12,
          "text": "further,"
        },
        {
          "start": 657.56,
          "end": 657.64,
          "text": "is"
        },
        {
          "start": 657.64,
          "end": 657.8,
          "text": "that"
        },
        {
          "start": 657.84,
          "end": 658.12,
          "text": "netting"
        },
        {
          "start": 658.2,
          "end": 658.4,
          "text": "risk"
        },
        {
          "start": 658.96,
          "end": 659.0,
          "text": "you"
        },
        {
          "start": 659.04,
          "end": 659.2,
          "text": "could"
        },
        {
          "start": 659.28,
          "end": 659.52,
          "text": "argue,"
        },
        {
          "start": 659.56,
          "end": 659.68,
          "text": "well,"
        },
        {
          "start": 659.72,
          "end": 659.84,
          "text": "that's"
        },
        {
          "start": 659.88,
          "end": 659.92,
          "text": "you"
        },
        {
          "start": 660.04,
          "end": 660.08,
          "text": "and"
        },
        {
          "start": 660.2,
          "end": 660.24,
          "text": "be"
        },
        {
          "start": 660.24,
          "end": 660.36,
          "text": "an"
        },
        {
          "start": 660.36,
          "end": 660.64,
          "text": "issue"
        },
        {
          "start": 660.64,
          "end": 660.76,
          "text": "for"
        },
        {
          "start": 660.84,
          "end": 660.92,
          "text": "the"
        },
        {
          "start": 660.96,
          "end": 661.16,
          "text": "ones"
        },
        {
          "start": 661.2,
          "end": 661.28,
          "text": "that"
        },
        {
          "start": 661.36,
          "end": 661.56,
          "text": "pay"
        },
        {
          "start": 662.04,
          "end": 662.16,
          "text": "at"
        },
        {
          "start": 662.2,
          "end": 662.28,
          "text": "the"
        },
        {
          "start": 662.28,
          "end": 662.48,
          "text": "top"
        },
        {
          "start": 662.56,
          "end": 662.8,
          "text": "level."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 663.28,
          "end": 663.44,
          "text": "Well,"
        },
        {
          "start": 663.48,
          "end": 663.56,
          "text": "the"
        },
        {
          "start": 663.64,
          "end": 664.08,
          "text": "issue"
        },
        {
          "start": 664.12,
          "end": 665.0,
          "text": "is."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 664.64,
          "end": 664.8,
          "text": "That"
        },
        {
          "start": 664.88,
          "end": 665.16,
          "text": "because"
        },
        {
          "start": 665.2,
          "end": 665.32,
          "text": "they"
        },
        {
          "start": 665.36,
          "end": 665.6,
          "text": "exist"
        },
        {
          "start": 665.64,
          "end": 665.68,
          "text": "in"
        },
        {
          "start": 665.68,
          "end": 665.72,
          "text": "a"
        },
        {
          "start": 665.72,
          "end": 666.12,
          "text": "competitive"
        },
        {
          "start": 666.2,
          "end": 666.6,
          "text": "landscape"
        },
        {
          "start": 666.6,
          "end": 666.68,
          "text": "for"
        },
        {
          "start": 666.76,
          "end": 667.2,
          "text": "pms,"
        },
        {
          "start": 667.72,
          "end": 667.88,
          "text": "pod"
        },
        {
          "start": 667.96,
          "end": 668.24,
          "text": "shops"
        },
        {
          "start": 668.28,
          "end": 668.4,
          "text": "can"
        },
        {
          "start": 668.92,
          "end": 669.04,
          "text": "go"
        },
        {
          "start": 669.12,
          "end": 669.24,
          "text": "to"
        },
        {
          "start": 669.28,
          "end": 669.36,
          "text": "a"
        },
        {
          "start": 669.44,
          "end": 669.72,
          "text": "PM"
        },
        {
          "start": 669.72,
          "end": 669.92,
          "text": "who"
        },
        {
          "start": 669.92,
          "end": 670.2,
          "text": "didn't"
        },
        {
          "start": 670.2,
          "end": 670.36,
          "text": "get"
        },
        {
          "start": 670.4,
          "end": 670.68,
          "text": "paid."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 671.08,
          "end": 671.2,
          "text": "Right,"
        },
        {
          "start": 671.2,
          "end": 671.24,
          "text": "So,"
        },
        {
          "start": 671.28,
          "end": 671.4,
          "text": "if"
        },
        {
          "start": 671.44,
          "end": 671.52,
          "text": "you"
        },
        {
          "start": 671.52,
          "end": 671.84,
          "text": "think."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 671.72,
          "end": 671.96,
          "text": "About"
        },
        {
          "start": 671.96,
          "end": 672.52,
          "text": "it,"
        },
        {
          "start": 672.6,
          "end": 672.76,
          "text": "if"
        },
        {
          "start": 672.76,
          "end": 672.88,
          "text": "that"
        },
        {
          "start": 673.04,
          "end": 673.12,
          "text": "was"
        },
        {
          "start": 673.16,
          "end": 673.48,
          "text": "a"
        },
        {
          "start": 673.52,
          "end": 674.08,
          "text": "traditional"
        },
        {
          "start": 674.16,
          "end": 674.36,
          "text": "two"
        },
        {
          "start": 674.36,
          "end": 674.44,
          "text": "and"
        },
        {
          "start": 674.48,
          "end": 674.72,
          "text": "twenty"
        },
        {
          "start": 674.8,
          "end": 675.04,
          "text": "multi"
        },
        {
          "start": 675.04,
          "end": 675.36,
          "text": "strat"
        },
        {
          "start": 675.6,
          "end": 675.76,
          "text": "ten"
        },
        {
          "start": 675.8,
          "end": 676.08,
          "text": "dollars"
        },
        {
          "start": 676.16,
          "end": 676.28,
          "text": "up,"
        },
        {
          "start": 676.32,
          "end": 676.44,
          "text": "ten"
        },
        {
          "start": 676.48,
          "end": 676.68,
          "text": "dollars"
        },
        {
          "start": 676.76,
          "end": 676.92,
          "text": "down,"
        },
        {
          "start": 676.96,
          "end": 677.28,
          "text": "flash,"
        },
        {
          "start": 677.48,
          "end": 677.76,
          "text": "nobody"
        },
        {
          "start": 677.76,
          "end": 677.96,
          "text": "gets"
        },
        {
          "start": 677.96,
          "end": 678.24,
          "text": "paid."
        },
        {
          "start": 678.4,
          "end": 678.48,
          "text": "The"
        },
        {
          "start": 678.52,
          "end": 678.72,
          "text": "fact"
        },
        {
          "start": 678.84,
          "end": 678.92,
          "text": "is"
        },
        {
          "start": 678.96,
          "end": 679.08,
          "text": "you've"
        },
        {
          "start": 679.12,
          "end": 679.28,
          "text": "got"
        },
        {
          "start": 679.28,
          "end": 679.36,
          "text": "a"
        },
        {
          "start": 679.44,
          "end": 679.56,
          "text": "very"
        },
        {
          "start": 679.64,
          "end": 679.76,
          "text": "very"
        },
        {
          "start": 679.8,
          "end": 680.24,
          "text": "unhappy"
        },
        {
          "start": 680.24,
          "end": 680.52,
          "text": "PM"
        },
        {
          "start": 680.96,
          "end": 681.2,
          "text": "who's"
        },
        {
          "start": 681.24,
          "end": 681.36,
          "text": "up"
        },
        {
          "start": 681.4,
          "end": 681.52,
          "text": "ten"
        },
        {
          "start": 681.56,
          "end": 681.8,
          "text": "dollars,"
        },
        {
          "start": 681.84,
          "end": 682.0,
          "text": "he's"
        },
        {
          "start": 682.04,
          "end": 682.2,
          "text": "made"
        },
        {
          "start": 682.2,
          "end": 682.32,
          "text": "ten"
        },
        {
          "start": 682.36,
          "end": 682.6,
          "text": "dollars,"
        },
        {
          "start": 682.64,
          "end": 682.92,
          "text": "who's"
        },
        {
          "start": 682.92,
          "end": 683.0,
          "text": "like"
        },
        {
          "start": 683.0,
          "end": 683.28,
          "text": "sitting"
        },
        {
          "start": 683.28,
          "end": 683.52,
          "text": "there"
        },
        {
          "start": 683.64,
          "end": 683.76,
          "text": "in"
        },
        {
          "start": 683.8,
          "end": 683.88,
          "text": "the"
        },
        {
          "start": 683.92,
          "end": 684.28,
          "text": "corner"
        },
        {
          "start": 684.8,
          "end": 685.08,
          "text": "really"
        },
        {
          "start": 685.12,
          "end": 685.48,
          "text": "angry"
        },
        {
          "start": 685.56,
          "end": 685.84,
          "text": "because"
        },
        {
          "start": 685.84,
          "end": 685.96,
          "text": "they"
        },
        {
          "start": 686.0,
          "end": 686.24,
          "text": "worked"
        },
        {
          "start": 686.28,
          "end": 686.48,
          "text": "really"
        },
        {
          "start": 686.52,
          "end": 686.8,
          "text": "hard,"
        },
        {
          "start": 687.04,
          "end": 687.16,
          "text": "they"
        },
        {
          "start": 687.2,
          "end": 687.36,
          "text": "made"
        },
        {
          "start": 687.36,
          "end": 687.4,
          "text": "a"
        },
        {
          "start": 687.44,
          "end": 687.56,
          "text": "lot"
        },
        {
          "start": 687.64,
          "end": 687.72,
          "text": "of"
        },
        {
          "start": 687.72,
          "end": 688.04,
          "text": "money"
        },
        {
          "start": 688.48,
          "end": 688.6,
          "text": "and"
        },
        {
          "start": 688.64,
          "end": 688.8,
          "text": "they"
        },
        {
          "start": 688.8,
          "end": 689.0,
          "text": "get"
        },
        {
          "start": 689.04,
          "end": 689.32,
          "text": "nothing."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 689.88,
          "end": 690.04,
          "text": "And"
        },
        {
          "start": 690.2,
          "end": 690.28,
          "text": "the"
        },
        {
          "start": 690.32,
          "end": 690.52,
          "text": "pod"
        },
        {
          "start": 690.52,
          "end": 690.76,
          "text": "shop"
        },
        {
          "start": 690.8,
          "end": 690.92,
          "text": "can"
        },
        {
          "start": 690.96,
          "end": 691.08,
          "text": "ring"
        },
        {
          "start": 691.12,
          "end": 691.24,
          "text": "them"
        },
        {
          "start": 691.28,
          "end": 691.44,
          "text": "up."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 691.4,
          "end": 691.48,
          "text": "And"
        },
        {
          "start": 691.48,
          "end": 691.72,
          "text": "says"
        },
        {
          "start": 692.04,
          "end": 692.28,
          "text": "we'll"
        },
        {
          "start": 692.28,
          "end": 692.48,
          "text": "take"
        },
        {
          "start": 692.48,
          "end": 692.6,
          "text": "you,"
        },
        {
          "start": 692.84,
          "end": 693.12,
          "text": "yeah"
        },
        {
          "start": 693.2,
          "end": 693.24,
          "text": "you"
        },
        {
          "start": 693.28,
          "end": 693.36,
          "text": "know,"
        },
        {
          "start": 693.4,
          "end": 693.44,
          "text": "and"
        },
        {
          "start": 693.52,
          "end": 693.68,
          "text": "will"
        },
        {
          "start": 693.68,
          "end": 694.16,
          "text": "guarantee"
        },
        {
          "start": 694.2,
          "end": 694.32,
          "text": "if"
        },
        {
          "start": 694.36,
          "end": 694.44,
          "text": "you"
        },
        {
          "start": 694.48,
          "end": 694.64,
          "text": "make"
        },
        {
          "start": 694.68,
          "end": 695.0,
          "text": "money"
        },
        {
          "start": 695.2,
          "end": 695.28,
          "text": "you"
        },
        {
          "start": 695.32,
          "end": 695.48,
          "text": "will"
        },
        {
          "start": 695.48,
          "end": 695.64,
          "text": "get"
        },
        {
          "start": 695.68,
          "end": 695.92,
          "text": "paid"
        },
        {
          "start": 696.28,
          "end": 696.32,
          "text": "it."
        },
        {
          "start": 696.56,
          "end": 696.64,
          "text": "The"
        },
        {
          "start": 696.68,
          "end": 696.88,
          "text": "other"
        },
        {
          "start": 696.92,
          "end": 697.08,
          "text": "thing"
        },
        {
          "start": 697.12,
          "end": 697.2,
          "text": "to"
        },
        {
          "start": 697.24,
          "end": 697.68,
          "text": "remember"
        },
        {
          "start": 697.84,
          "end": 697.96,
          "text": "as"
        },
        {
          "start": 698.04,
          "end": 698.4,
          "text": "regards"
        },
        {
          "start": 698.48,
          "end": 698.76,
          "text": "netting"
        },
        {
          "start": 698.8,
          "end": 699.0,
          "text": "risk"
        },
        {
          "start": 699.12,
          "end": 699.16,
          "text": "is"
        },
        {
          "start": 699.2,
          "end": 699.36,
          "text": "it's"
        },
        {
          "start": 699.36,
          "end": 699.8,
          "text": "actually"
        },
        {
          "start": 700.08,
          "end": 700.32,
          "text": "we've"
        },
        {
          "start": 700.32,
          "end": 700.64,
          "text": "modeled"
        },
        {
          "start": 700.64,
          "end": 700.72,
          "text": "it"
        },
        {
          "start": 700.72,
          "end": 700.8,
          "text": "at"
        },
        {
          "start": 700.8,
          "end": 701.32,
          "text": "Albourne."
        },
        {
          "start": 701.52,
          "end": 701.72,
          "text": "We've"
        },
        {
          "start": 701.72,
          "end": 701.96,
          "text": "worked"
        },
        {
          "start": 701.96,
          "end": 702.04,
          "text": "it"
        },
        {
          "start": 702.08,
          "end": 702.24,
          "text": "out"
        },
        {
          "start": 702.28,
          "end": 702.48,
          "text": "and"
        },
        {
          "start": 702.68,
          "end": 702.92,
          "text": "using"
        },
        {
          "start": 703.16,
          "end": 703.44,
          "text": "various"
        },
        {
          "start": 703.44,
          "end": 704.12,
          "text": "simulations,"
        },
        {
          "start": 704.2,
          "end": 704.28,
          "text": "it"
        },
        {
          "start": 704.4,
          "end": 704.88,
          "text": "averages"
        },
        {
          "start": 705.0,
          "end": 705.08,
          "text": "for"
        },
        {
          "start": 705.2,
          "end": 705.32,
          "text": "a"
        },
        {
          "start": 705.72,
          "end": 705.8,
          "text": "just"
        },
        {
          "start": 705.84,
          "end": 705.92,
          "text": "a"
        },
        {
          "start": 705.96,
          "end": 706.28,
          "text": "regular"
        },
        {
          "start": 706.28,
          "end": 706.48,
          "text": "set"
        },
        {
          "start": 706.52,
          "end": 706.6,
          "text": "of"
        },
        {
          "start": 706.6,
          "end": 707.08,
          "text": "managers"
        },
        {
          "start": 707.08,
          "end": 707.12,
          "text": "and"
        },
        {
          "start": 707.2,
          "end": 707.6,
          "text": "pms"
        },
        {
          "start": 708.16,
          "end": 708.48,
          "text": "around"
        },
        {
          "start": 708.52,
          "end": 708.64,
          "text": "one"
        },
        {
          "start": 708.68,
          "end": 708.96,
          "text": "percent"
        },
        {
          "start": 708.96,
          "end": 709.04,
          "text": "a"
        },
        {
          "start": 709.08,
          "end": 709.28,
          "text": "year."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 709.96,
          "end": 710.16,
          "text": "Right."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 710.16,
          "end": 710.36,
          "text": "When"
        },
        {
          "start": 710.36,
          "end": 710.44,
          "text": "you"
        },
        {
          "start": 710.52,
          "end": 710.72,
          "text": "think"
        },
        {
          "start": 710.76,
          "end": 711.2,
          "text": "about"
        },
        {
          "start": 711.56,
          "end": 711.64,
          "text": "a"
        },
        {
          "start": 711.64,
          "end": 711.8,
          "text": "two"
        },
        {
          "start": 711.84,
          "end": 711.92,
          "text": "and"
        },
        {
          "start": 711.96,
          "end": 712.28,
          "text": "twenty"
        },
        {
          "start": 712.32,
          "end": 712.52,
          "text": "hedge"
        },
        {
          "start": 712.52,
          "end": 712.76,
          "text": "fund,"
        },
        {
          "start": 712.88,
          "end": 713.08,
          "text": "yeah"
        },
        {
          "start": 713.68,
          "end": 713.8,
          "text": "you"
        },
        {
          "start": 713.88,
          "end": 714.08,
          "text": "might,"
        },
        {
          "start": 714.2,
          "end": 714.28,
          "text": "you"
        },
        {
          "start": 714.44,
          "end": 714.64,
          "text": "kind"
        },
        {
          "start": 714.64,
          "end": 714.76,
          "text": "of"
        },
        {
          "start": 714.84,
          "end": 715.56,
          "text": "expectationally,"
        },
        {
          "start": 715.6,
          "end": 715.84,
          "text": "should"
        },
        {
          "start": 715.88,
          "end": 716.2,
          "text": "expect"
        },
        {
          "start": 716.24,
          "end": 716.28,
          "text": "to"
        },
        {
          "start": 716.32,
          "end": 716.52,
          "text": "pay"
        },
        {
          "start": 716.6,
          "end": 716.76,
          "text": "one"
        },
        {
          "start": 716.8,
          "end": 717.12,
          "text": "percent"
        },
        {
          "start": 717.16,
          "end": 717.24,
          "text": "of"
        },
        {
          "start": 717.28,
          "end": 717.4,
          "text": "that"
        },
        {
          "start": 717.48,
          "end": 717.68,
          "text": "two"
        },
        {
          "start": 717.68,
          "end": 718.0,
          "text": "percent"
        },
        {
          "start": 718.04,
          "end": 718.44,
          "text": "management"
        },
        {
          "start": 718.48,
          "end": 718.8,
          "text": "fee"
        },
        {
          "start": 718.92,
          "end": 718.96,
          "text": "to"
        },
        {
          "start": 719.04,
          "end": 719.28,
          "text": "people"
        },
        {
          "start": 719.32,
          "end": 719.52,
          "text": "who've"
        },
        {
          "start": 719.52,
          "end": 719.72,
          "text": "made"
        },
        {
          "start": 719.72,
          "end": 720.0,
          "text": "money"
        },
        {
          "start": 720.0,
          "end": 720.12,
          "text": "when"
        },
        {
          "start": 720.12,
          "end": 720.4,
          "text": "everybody"
        },
        {
          "start": 720.4,
          "end": 720.52,
          "text": "halse"
        },
        {
          "start": 720.52,
          "end": 720.64,
          "text": "has"
        },
        {
          "start": 720.68,
          "end": 720.84,
          "text": "lost"
        },
        {
          "start": 720.92,
          "end": 721.2,
          "text": "money."
        },
        {
          "start": 721.44,
          "end": 721.52,
          "text": "And"
        },
        {
          "start": 721.6,
          "end": 721.68,
          "text": "it"
        },
        {
          "start": 721.72,
          "end": 721.88,
          "text": "can"
        },
        {
          "start": 721.88,
          "end": 721.96,
          "text": "be"
        },
        {
          "start": 722.0,
          "end": 722.2,
          "text": "way"
        },
        {
          "start": 722.2,
          "end": 722.36,
          "text": "more"
        },
        {
          "start": 722.4,
          "end": 722.56,
          "text": "than"
        },
        {
          "start": 722.56,
          "end": 722.72,
          "text": "that,"
        },
        {
          "start": 722.84,
          "end": 722.92,
          "text": "and"
        },
        {
          "start": 722.96,
          "end": 723.12,
          "text": "that's"
        },
        {
          "start": 723.16,
          "end": 723.24,
          "text": "a"
        },
        {
          "start": 723.36,
          "end": 723.68,
          "text": "real"
        },
        {
          "start": 723.76,
          "end": 724.16,
          "text": "business"
        },
        {
          "start": 724.24,
          "end": 737.52,
          "text": "risk."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 740.56,
          "end": 740.64,
          "text": "So"
        },
        {
          "start": 740.8,
          "end": 740.96,
          "text": "one"
        },
        {
          "start": 741.0,
          "end": 741.12,
          "text": "thing"
        },
        {
          "start": 741.16,
          "end": 741.24,
          "text": "I"
        },
        {
          "start": 741.28,
          "end": 741.6,
          "text": "wanted"
        },
        {
          "start": 741.6,
          "end": 741.72,
          "text": "to"
        },
        {
          "start": 741.8,
          "end": 742.04,
          "text": "ask"
        },
        {
          "start": 742.36,
          "end": 742.44,
          "text": "is"
        },
        {
          "start": 742.56,
          "end": 742.68,
          "text": "I"
        },
        {
          "start": 742.68,
          "end": 742.88,
          "text": "get"
        },
        {
          "start": 742.88,
          "end": 742.96,
          "text": "the"
        },
        {
          "start": 743.0,
          "end": 743.56,
          "text": "impression"
        },
        {
          "start": 743.92,
          "end": 744.08,
          "text": "that"
        },
        {
          "start": 744.2,
          "end": 744.84,
          "text": "podshops"
        },
        {
          "start": 744.88,
          "end": 745.0,
          "text": "are"
        },
        {
          "start": 745.36,
          "end": 745.56,
          "text": "very,"
        },
        {
          "start": 745.72,
          "end": 745.96,
          "text": "very"
        },
        {
          "start": 746.0,
          "end": 746.64,
          "text": "competitive,"
        },
        {
          "start": 747.64,
          "end": 747.76,
          "text": "and"
        },
        {
          "start": 748.56,
          "end": 748.64,
          "text": "you"
        },
        {
          "start": 748.68,
          "end": 748.8,
          "text": "know,"
        },
        {
          "start": 748.84,
          "end": 748.88,
          "text": "the"
        },
        {
          "start": 749.52,
          "end": 749.84,
          "text": "talent"
        },
        {
          "start": 750.0,
          "end": 750.12,
          "text": "is"
        },
        {
          "start": 750.12,
          "end": 750.76,
          "text": "competitive,"
        },
        {
          "start": 751.0,
          "end": 751.08,
          "text": "but"
        },
        {
          "start": 751.24,
          "end": 751.32,
          "text": "the"
        },
        {
          "start": 751.36,
          "end": 751.56,
          "text": "pod"
        },
        {
          "start": 751.6,
          "end": 751.84,
          "text": "shop"
        },
        {
          "start": 751.92,
          "end": 752.36,
          "text": "itself"
        },
        {
          "start": 752.44,
          "end": 752.52,
          "text": "is"
        },
        {
          "start": 752.56,
          "end": 752.96,
          "text": "supposed"
        },
        {
          "start": 753.0,
          "end": 753.04,
          "text": "to"
        },
        {
          "start": 753.4,
          "end": 753.56,
          "text": "kind"
        },
        {
          "start": 753.6,
          "end": 753.68,
          "text": "of"
        },
        {
          "start": 753.72,
          "end": 753.96,
          "text": "work"
        },
        {
          "start": 754.0,
          "end": 754.4,
          "text": "together,"
        },
        {
          "start": 754.68,
          "end": 754.88,
          "text": "right"
        },
        {
          "start": 755.08,
          "end": 755.28,
          "text": "and"
        },
        {
          "start": 755.48,
          "end": 755.56,
          "text": "the"
        },
        {
          "start": 755.6,
          "end": 756.12,
          "text": "positions"
        },
        {
          "start": 756.16,
          "end": 756.28,
          "text": "are"
        },
        {
          "start": 756.32,
          "end": 756.76,
          "text": "supposed"
        },
        {
          "start": 756.76,
          "end": 757.68,
          "text": "to"
        },
        {
          "start": 757.76,
          "end": 758.48,
          "text": "diversify"
        },
        {
          "start": 758.72,
          "end": 758.92,
          "text": "and"
        },
        {
          "start": 759.04,
          "end": 759.28,
          "text": "even"
        },
        {
          "start": 759.36,
          "end": 759.56,
          "text": "each"
        },
        {
          "start": 759.6,
          "end": 759.8,
          "text": "other"
        },
        {
          "start": 759.92,
          "end": 760.16,
          "text": "out"
        },
        {
          "start": 760.24,
          "end": 760.36,
          "text": "and"
        },
        {
          "start": 760.4,
          "end": 760.6,
          "text": "all"
        },
        {
          "start": 760.64,
          "end": 760.72,
          "text": "of"
        },
        {
          "start": 760.76,
          "end": 760.92,
          "text": "that."
        },
        {
          "start": 761.08,
          "end": 761.2,
          "text": "So"
        },
        {
          "start": 761.24,
          "end": 761.28,
          "text": "I"
        },
        {
          "start": 761.32,
          "end": 761.52,
          "text": "guess"
        },
        {
          "start": 761.56,
          "end": 761.68,
          "text": "my"
        },
        {
          "start": 761.76,
          "end": 762.04,
          "text": "question"
        },
        {
          "start": 762.16,
          "end": 762.28,
          "text": "is"
        },
        {
          "start": 762.4,
          "end": 762.56,
          "text": "how"
        },
        {
          "start": 762.64,
          "end": 763.32,
          "text": "cutthroat"
        },
        {
          "start": 763.44,
          "end": 763.52,
          "text": "is"
        },
        {
          "start": 763.56,
          "end": 763.8,
          "text": "it"
        },
        {
          "start": 763.92,
          "end": 764.32,
          "text": "actually"
        },
        {
          "start": 764.36,
          "end": 764.6,
          "text": "working"
        },
        {
          "start": 764.68,
          "end": 764.8,
          "text": "at"
        },
        {
          "start": 764.8,
          "end": 764.88,
          "text": "a"
        },
        {
          "start": 764.88,
          "end": 765.04,
          "text": "pod"
        },
        {
          "start": 765.12,
          "end": 765.36,
          "text": "shop?"
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 766.56,
          "end": 766.64,
          "text": "It"
        },
        {
          "start": 766.84,
          "end": 767.24,
          "text": "varies."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 767.72,
          "end": 767.8,
          "text": "The"
        },
        {
          "start": 767.84,
          "end": 768.12,
          "text": "fact"
        },
        {
          "start": 768.28,
          "end": 768.36,
          "text": "is"
        },
        {
          "start": 768.48,
          "end": 768.68,
          "text": "that"
        },
        {
          "start": 768.76,
          "end": 768.88,
          "text": "a"
        },
        {
          "start": 768.96,
          "end": 769.56,
          "text": "podshop"
        },
        {
          "start": 770.6,
          "end": 770.72,
          "text": "is"
        },
        {
          "start": 771.12,
          "end": 771.24,
          "text": "an"
        },
        {
          "start": 771.36,
          "end": 771.68,
          "text": "entity"
        },
        {
          "start": 771.72,
          "end": 771.88,
          "text": "that"
        },
        {
          "start": 771.96,
          "end": 772.12,
          "text": "can"
        },
        {
          "start": 772.24,
          "end": 772.44,
          "text": "make"
        },
        {
          "start": 772.48,
          "end": 772.76,
          "text": "certain"
        },
        {
          "start": 772.8,
          "end": 773.32,
          "text": "decisions"
        },
        {
          "start": 773.64,
          "end": 773.72,
          "text": "to"
        },
        {
          "start": 773.8,
          "end": 774.12,
          "text": "create"
        },
        {
          "start": 774.16,
          "end": 774.4,
          "text": "either"
        },
        {
          "start": 774.4,
          "end": 774.92,
          "text": "competition"
        },
        {
          "start": 775.0,
          "end": 775.08,
          "text": "or"
        },
        {
          "start": 775.08,
          "end": 775.6,
          "text": "cooperation."
        },
        {
          "start": 776.12,
          "end": 776.28,
          "text": "Any"
        },
        {
          "start": 776.36,
          "end": 776.88,
          "text": "multistract"
        },
        {
          "start": 776.92,
          "end": 777.04,
          "text": "can"
        },
        {
          "start": 777.08,
          "end": 777.16,
          "text": "do"
        },
        {
          "start": 777.2,
          "end": 777.28,
          "text": "this"
        },
        {
          "start": 778.32,
          "end": 778.44,
          "text": "in"
        },
        {
          "start": 778.48,
          "end": 778.56,
          "text": "a"
        },
        {
          "start": 778.68,
          "end": 779.0,
          "text": "pure"
        },
        {
          "start": 779.12,
          "end": 779.32,
          "text": "eat"
        },
        {
          "start": 779.32,
          "end": 779.44,
          "text": "what"
        },
        {
          "start": 779.52,
          "end": 779.56,
          "text": "you"
        },
        {
          "start": 779.64,
          "end": 779.8,
          "text": "kill"
        },
        {
          "start": 779.84,
          "end": 779.92,
          "text": "and"
        },
        {
          "start": 780.04,
          "end": 780.44,
          "text": "vironment."
        },
        {
          "start": 781.08,
          "end": 781.64,
          "text": "Obviously"
        },
        {
          "start": 781.76,
          "end": 782.0,
          "text": "there's"
        },
        {
          "start": 782.04,
          "end": 782.16,
          "text": "no"
        },
        {
          "start": 782.2,
          "end": 782.68,
          "text": "incentive"
        },
        {
          "start": 782.68,
          "end": 782.72,
          "text": "to"
        },
        {
          "start": 783.08,
          "end": 783.16,
          "text": "do"
        },
        {
          "start": 783.24,
          "end": 783.8,
          "text": "cooperation,"
        },
        {
          "start": 784.04,
          "end": 784.12,
          "text": "but"
        },
        {
          "start": 784.72,
          "end": 785.04,
          "text": "people"
        },
        {
          "start": 785.04,
          "end": 785.12,
          "text": "do"
        },
        {
          "start": 785.24,
          "end": 785.76,
          "text": "recognize"
        },
        {
          "start": 785.76,
          "end": 785.84,
          "text": "this,"
        },
        {
          "start": 786.44,
          "end": 786.76,
          "text": "right,"
        },
        {
          "start": 786.92,
          "end": 787.12,
          "text": "And"
        },
        {
          "start": 787.36,
          "end": 787.48,
          "text": "what"
        },
        {
          "start": 787.52,
          "end": 787.56,
          "text": "I"
        },
        {
          "start": 787.6,
          "end": 787.84,
          "text": "would"
        },
        {
          "start": 787.88,
          "end": 788.12,
          "text": "say"
        },
        {
          "start": 788.2,
          "end": 788.32,
          "text": "for"
        },
        {
          "start": 788.36,
          "end": 788.44,
          "text": "that"
        },
        {
          "start": 789.32,
          "end": 789.44,
          "text": "is"
        },
        {
          "start": 790.36,
          "end": 790.6,
          "text": "that"
        },
        {
          "start": 791.0,
          "end": 791.16,
          "text": "it's"
        },
        {
          "start": 791.24,
          "end": 791.44,
          "text": "all"
        },
        {
          "start": 791.48,
          "end": 791.8,
          "text": "about"
        },
        {
          "start": 792.16,
          "end": 792.36,
          "text": "what"
        },
        {
          "start": 792.4,
          "end": 792.52,
          "text": "do"
        },
        {
          "start": 792.56,
          "end": 792.64,
          "text": "you"
        },
        {
          "start": 792.72,
          "end": 793.04,
          "text": "want"
        },
        {
          "start": 793.6,
          "end": 793.8,
          "text": "as"
        },
        {
          "start": 794.04,
          "end": 794.16,
          "text": "what"
        },
        {
          "start": 794.2,
          "end": 794.36,
          "text": "does"
        },
        {
          "start": 794.36,
          "end": 794.44,
          "text": "the"
        },
        {
          "start": 794.48,
          "end": 794.84,
          "text": "manager"
        },
        {
          "start": 794.92,
          "end": 795.12,
          "text": "want"
        },
        {
          "start": 795.16,
          "end": 795.2,
          "text": "to"
        },
        {
          "start": 795.24,
          "end": 795.64,
          "text": "produce?"
        },
        {
          "start": 796.08,
          "end": 796.24,
          "text": "And"
        },
        {
          "start": 796.76,
          "end": 796.96,
          "text": "one"
        },
        {
          "start": 796.96,
          "end": 797.04,
          "text": "of"
        },
        {
          "start": 797.08,
          "end": 797.16,
          "text": "the"
        },
        {
          "start": 797.2,
          "end": 797.44,
          "text": "things"
        },
        {
          "start": 797.44,
          "end": 797.52,
          "text": "what"
        },
        {
          "start": 797.56,
          "end": 797.6,
          "text": "I"
        },
        {
          "start": 797.64,
          "end": 797.88,
          "text": "would"
        },
        {
          "start": 797.92,
          "end": 798.2,
          "text": "say"
        },
        {
          "start": 798.88,
          "end": 798.96,
          "text": "is"
        },
        {
          "start": 799.0,
          "end": 799.2,
          "text": "there's"
        },
        {
          "start": 799.2,
          "end": 799.28,
          "text": "a"
        },
        {
          "start": 799.32,
          "end": 799.52,
          "text": "real"
        },
        {
          "start": 799.6,
          "end": 799.92,
          "text": "choice"
        },
        {
          "start": 799.92,
          "end": 800.0,
          "text": "that"
        },
        {
          "start": 800.04,
          "end": 800.12,
          "text": "you"
        },
        {
          "start": 800.2,
          "end": 800.28,
          "text": "have"
        },
        {
          "start": 800.36,
          "end": 800.44,
          "text": "to"
        },
        {
          "start": 800.48,
          "end": 800.68,
          "text": "make"
        },
        {
          "start": 800.8,
          "end": 801.12,
          "text": "between"
        },
        {
          "start": 801.24,
          "end": 801.4,
          "text": "kind"
        },
        {
          "start": 801.44,
          "end": 801.56,
          "text": "of"
        },
        {
          "start": 801.72,
          "end": 802.04,
          "text": "talent"
        },
        {
          "start": 802.52,
          "end": 802.64,
          "text": "and"
        },
        {
          "start": 802.68,
          "end": 803.2,
          "text": "structure."
        },
        {
          "start": 803.44,
          "end": 803.56,
          "text": "And"
        },
        {
          "start": 803.6,
          "end": 803.72,
          "text": "what"
        },
        {
          "start": 803.72,
          "end": 803.8,
          "text": "do"
        },
        {
          "start": 803.84,
          "end": 803.92,
          "text": "I"
        },
        {
          "start": 803.96,
          "end": 804.08,
          "text": "mean"
        },
        {
          "start": 804.12,
          "end": 804.24,
          "text": "by"
        },
        {
          "start": 804.28,
          "end": 804.4,
          "text": "that?"
        },
        {
          "start": 804.76,
          "end": 804.88,
          "text": "What"
        },
        {
          "start": 804.92,
          "end": 805.0,
          "text": "I"
        },
        {
          "start": 805.08,
          "end": 805.28,
          "text": "mean"
        },
        {
          "start": 805.32,
          "end": 805.48,
          "text": "by"
        },
        {
          "start": 805.52,
          "end": 805.6,
          "text": "that"
        },
        {
          "start": 806.2,
          "end": 806.36,
          "text": "is"
        },
        {
          "start": 806.92,
          "end": 807.0,
          "text": "to"
        },
        {
          "start": 807.08,
          "end": 807.2,
          "text": "use"
        },
        {
          "start": 807.2,
          "end": 807.24,
          "text": "the"
        },
        {
          "start": 807.28,
          "end": 807.6,
          "text": "sports"
        },
        {
          "start": 807.6,
          "end": 808.08,
          "text": "context."
        },
        {
          "start": 808.28,
          "end": 808.44,
          "text": "There's"
        },
        {
          "start": 808.52,
          "end": 808.64,
          "text": "kind"
        },
        {
          "start": 808.64,
          "end": 808.72,
          "text": "of"
        },
        {
          "start": 808.72,
          "end": 808.84,
          "text": "two"
        },
        {
          "start": 808.84,
          "end": 809.04,
          "text": "ways"
        },
        {
          "start": 809.08,
          "end": 809.48,
          "text": "assemble"
        },
        {
          "start": 809.6,
          "end": 810.0,
          "text": "professional"
        },
        {
          "start": 810.0,
          "end": 810.28,
          "text": "sports"
        },
        {
          "start": 810.32,
          "end": 810.56,
          "text": "teams."
        },
        {
          "start": 810.92,
          "end": 810.96,
          "text": "The"
        },
        {
          "start": 811.0,
          "end": 811.44,
          "text": "first"
        },
        {
          "start": 811.48,
          "end": 811.56,
          "text": "is"
        },
        {
          "start": 811.56,
          "end": 811.64,
          "text": "to"
        },
        {
          "start": 811.64,
          "end": 811.84,
          "text": "get"
        },
        {
          "start": 811.88,
          "end": 812.12,
          "text": "a"
        },
        {
          "start": 812.16,
          "end": 812.44,
          "text": "big"
        },
        {
          "start": 812.48,
          "end": 812.84,
          "text": "pilot"
        },
        {
          "start": 812.84,
          "end": 813.68,
          "text": "cash"
        },
        {
          "start": 813.76,
          "end": 813.88,
          "text": "and"
        },
        {
          "start": 813.92,
          "end": 814.04,
          "text": "go"
        },
        {
          "start": 814.12,
          "end": 814.32,
          "text": "hire"
        },
        {
          "start": 814.36,
          "end": 814.4,
          "text": "the"
        },
        {
          "start": 814.4,
          "end": 814.6,
          "text": "best"
        },
        {
          "start": 814.6,
          "end": 814.92,
          "text": "players"
        },
        {
          "start": 814.96,
          "end": 815.04,
          "text": "in"
        },
        {
          "start": 815.08,
          "end": 815.12,
          "text": "this"
        },
        {
          "start": 815.2,
          "end": 815.56,
          "text": "position"
        },
        {
          "start": 815.84,
          "end": 815.96,
          "text": "and"
        },
        {
          "start": 816.0,
          "end": 816.16,
          "text": "put"
        },
        {
          "start": 816.2,
          "end": 816.32,
          "text": "them"
        },
        {
          "start": 816.32,
          "end": 816.4,
          "text": "on"
        },
        {
          "start": 816.44,
          "end": 816.52,
          "text": "the"
        },
        {
          "start": 816.52,
          "end": 816.84,
          "text": "field"
        },
        {
          "start": 817.12,
          "end": 817.24,
          "text": "and"
        },
        {
          "start": 817.28,
          "end": 817.48,
          "text": "hope"
        },
        {
          "start": 817.48,
          "end": 817.56,
          "text": "for"
        },
        {
          "start": 817.6,
          "end": 817.68,
          "text": "the"
        },
        {
          "start": 817.68,
          "end": 817.96,
          "text": "best."
        },
        {
          "start": 818.52,
          "end": 818.68,
          "text": "Right,"
        },
        {
          "start": 818.72,
          "end": 818.88,
          "text": "that's"
        },
        {
          "start": 818.88,
          "end": 818.92,
          "text": "a"
        },
        {
          "start": 818.96,
          "end": 819.24,
          "text": "focus"
        },
        {
          "start": 819.28,
          "end": 819.36,
          "text": "on"
        },
        {
          "start": 819.36,
          "end": 819.68,
          "text": "talent."
        },
        {
          "start": 820.24,
          "end": 820.32,
          "text": "The"
        },
        {
          "start": 820.36,
          "end": 820.56,
          "text": "other"
        },
        {
          "start": 820.6,
          "end": 820.8,
          "text": "way"
        },
        {
          "start": 820.92,
          "end": 820.96,
          "text": "is"
        },
        {
          "start": 821.0,
          "end": 821.04,
          "text": "to"
        },
        {
          "start": 821.12,
          "end": 821.32,
          "text": "hire"
        },
        {
          "start": 821.36,
          "end": 821.44,
          "text": "a"
        },
        {
          "start": 821.52,
          "end": 821.8,
          "text": "really"
        },
        {
          "start": 821.84,
          "end": 822.08,
          "text": "really"
        },
        {
          "start": 822.12,
          "end": 822.32,
          "text": "good"
        },
        {
          "start": 822.32,
          "end": 822.6,
          "text": "coach"
        },
        {
          "start": 822.64,
          "end": 822.72,
          "text": "with"
        },
        {
          "start": 822.76,
          "end": 822.8,
          "text": "a"
        },
        {
          "start": 822.84,
          "end": 823.04,
          "text": "really"
        },
        {
          "start": 823.08,
          "end": 823.24,
          "text": "good"
        },
        {
          "start": 823.24,
          "end": 824.52,
          "text": "system"
        },
        {
          "start": 824.56,
          "end": 824.68,
          "text": "and"
        },
        {
          "start": 824.72,
          "end": 824.84,
          "text": "to"
        },
        {
          "start": 824.88,
          "end": 824.96,
          "text": "have"
        },
        {
          "start": 825.08,
          "end": 825.32,
          "text": "him"
        },
        {
          "start": 825.56,
          "end": 825.64,
          "text": "or"
        },
        {
          "start": 825.68,
          "end": 825.92,
          "text": "her"
        },
        {
          "start": 826.44,
          "end": 826.56,
          "text": "go"
        },
        {
          "start": 826.64,
          "end": 826.68,
          "text": "with"
        },
        {
          "start": 826.8,
          "end": 827.88,
          "text": "their"
        },
        {
          "start": 827.92,
          "end": 828.12,
          "text": "team"
        },
        {
          "start": 828.24,
          "end": 828.36,
          "text": "kind"
        },
        {
          "start": 828.4,
          "end": 828.44,
          "text": "of"
        },
        {
          "start": 828.44,
          "end": 828.52,
          "text": "a"
        },
        {
          "start": 828.56,
          "end": 828.96,
          "text": "moneyball"
        },
        {
          "start": 829.04,
          "end": 829.44,
          "text": "system"
        },
        {
          "start": 829.84,
          "end": 830.04,
          "text": "where"
        },
        {
          "start": 830.08,
          "end": 830.16,
          "text": "you"
        },
        {
          "start": 830.24,
          "end": 830.4,
          "text": "put"
        },
        {
          "start": 830.4,
          "end": 830.64,
          "text": "together"
        },
        {
          "start": 830.68,
          "end": 830.88,
          "text": "people"
        },
        {
          "start": 830.92,
          "end": 831.04,
          "text": "who"
        },
        {
          "start": 831.04,
          "end": 831.2,
          "text": "fit"
        },
        {
          "start": 831.24,
          "end": 831.32,
          "text": "in"
        },
        {
          "start": 831.32,
          "end": 831.4,
          "text": "the"
        },
        {
          "start": 831.4,
          "end": 831.84,
          "text": "structure."
        },
        {
          "start": 831.88,
          "end": 832.08,
          "text": "And"
        },
        {
          "start": 832.16,
          "end": 832.36,
          "text": "what"
        },
        {
          "start": 832.36,
          "end": 832.52,
          "text": "that"
        },
        {
          "start": 832.6,
          "end": 832.88,
          "text": "means"
        },
        {
          "start": 833.0,
          "end": 833.08,
          "text": "is"
        },
        {
          "start": 833.12,
          "end": 833.16,
          "text": "the"
        },
        {
          "start": 833.24,
          "end": 833.52,
          "text": "first"
        },
        {
          "start": 833.52,
          "end": 834.0,
          "text": "one"
        },
        {
          "start": 834.2,
          "end": 834.32,
          "text": "is"
        },
        {
          "start": 834.4,
          "end": 834.52,
          "text": "like"
        },
        {
          "start": 834.92,
          "end": 835.0,
          "text": "the"
        },
        {
          "start": 835.04,
          "end": 835.52,
          "text": "emphasis"
        },
        {
          "start": 835.52,
          "end": 835.6,
          "text": "on"
        },
        {
          "start": 835.64,
          "end": 835.72,
          "text": "the"
        },
        {
          "start": 835.76,
          "end": 836.24,
          "text": "individual,"
        },
        {
          "start": 836.8,
          "end": 836.88,
          "text": "and"
        },
        {
          "start": 836.92,
          "end": 837.0,
          "text": "the"
        },
        {
          "start": 837.04,
          "end": 837.32,
          "text": "second"
        },
        {
          "start": 837.32,
          "end": 837.44,
          "text": "one"
        },
        {
          "start": 837.48,
          "end": 837.56,
          "text": "of"
        },
        {
          "start": 837.56,
          "end": 837.64,
          "text": "the"
        },
        {
          "start": 837.92,
          "end": 838.44,
          "text": "emphasises"
        },
        {
          "start": 838.44,
          "end": 838.68,
          "text": "on"
        },
        {
          "start": 838.56,
          "end": 838.6,
          "text": "it"
        },
        {
          "start": 838.68,
          "end": 838.76,
          "text": "on"
        },
        {
          "start": 838.8,
          "end": 838.88,
          "text": "the"
        },
        {
          "start": 838.92,
          "end": 839.2,
          "text": "whole."
        },
        {
          "start": 840.04,
          "end": 840.12,
          "text": "And"
        },
        {
          "start": 840.24,
          "end": 840.44,
          "text": "when"
        },
        {
          "start": 840.44,
          "end": 840.6,
          "text": "you"
        },
        {
          "start": 840.64,
          "end": 840.8,
          "text": "talk"
        },
        {
          "start": 840.8,
          "end": 841.28,
          "text": "about"
        },
        {
          "start": 841.28,
          "end": 841.8,
          "text": "competition,"
        },
        {
          "start": 842.48,
          "end": 842.68,
          "text": "one"
        },
        {
          "start": 842.68,
          "end": 842.76,
          "text": "of"
        },
        {
          "start": 842.76,
          "end": 842.88,
          "text": "the"
        },
        {
          "start": 842.92,
          "end": 843.16,
          "text": "main"
        },
        {
          "start": 843.28,
          "end": 843.6,
          "text": "ways"
        },
        {
          "start": 843.64,
          "end": 843.72,
          "text": "you"
        },
        {
          "start": 843.84,
          "end": 844.12,
          "text": "enforce"
        },
        {
          "start": 844.2,
          "end": 845.16,
          "text": "competition."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 844.8,
          "end": 844.84,
          "text": "Is"
        },
        {
          "start": 844.84,
          "end": 845.12,
          "text": "probably"
        },
        {
          "start": 845.12,
          "end": 845.52,
          "text": "obviously"
        },
        {
          "start": 845.72,
          "end": 846.32,
          "text": "compensation."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 846.8,
          "end": 846.96,
          "text": "If"
        },
        {
          "start": 846.96,
          "end": 847.04,
          "text": "you"
        },
        {
          "start": 847.12,
          "end": 847.2,
          "text": "have"
        },
        {
          "start": 847.24,
          "end": 847.32,
          "text": "a"
        },
        {
          "start": 847.36,
          "end": 847.88,
          "text": "situation"
        },
        {
          "start": 848.24,
          "end": 848.64,
          "text": "where"
        },
        {
          "start": 849.36,
          "end": 849.56,
          "text": "it's"
        },
        {
          "start": 849.6,
          "end": 849.92,
          "text": "purely"
        },
        {
          "start": 850.0,
          "end": 850.08,
          "text": "what"
        },
        {
          "start": 850.2,
          "end": 850.28,
          "text": "you"
        },
        {
          "start": 850.36,
          "end": 850.6,
          "text": "kill"
        },
        {
          "start": 850.6,
          "end": 850.72,
          "text": "and"
        },
        {
          "start": 850.72,
          "end": 850.8,
          "text": "you"
        },
        {
          "start": 850.84,
          "end": 851.0,
          "text": "get"
        },
        {
          "start": 851.0,
          "end": 851.04,
          "text": "a"
        },
        {
          "start": 851.2,
          "end": 851.6,
          "text": "presentive"
        },
        {
          "start": 851.6,
          "end": 851.68,
          "text": "of"
        },
        {
          "start": 851.68,
          "end": 851.8,
          "text": "your"
        },
        {
          "start": 851.8,
          "end": 852.0,
          "text": "own"
        },
        {
          "start": 852.0,
          "end": 852.08,
          "text": "P"
        },
        {
          "start": 852.16,
          "end": 852.2,
          "text": "and"
        },
        {
          "start": 852.28,
          "end": 852.36,
          "text": "L"
        },
        {
          "start": 852.44,
          "end": 852.56,
          "text": "and"
        },
        {
          "start": 852.6,
          "end": 852.84,
          "text": "that's"
        },
        {
          "start": 852.88,
          "end": 853.32,
          "text": "it,"
        },
        {
          "start": 853.32,
          "end": 853.48,
          "text": "it's"
        },
        {
          "start": 853.6,
          "end": 853.8,
          "text": "very"
        },
        {
          "start": 853.88,
          "end": 854.2,
          "text": "very"
        },
        {
          "start": 854.24,
          "end": 854.56,
          "text": "hard"
        },
        {
          "start": 855.16,
          "end": 855.24,
          "text": "to"
        },
        {
          "start": 855.52,
          "end": 855.88,
          "text": "enforce"
        },
        {
          "start": 855.92,
          "end": 856.08,
          "text": "that"
        },
        {
          "start": 856.16,
          "end": 856.4,
          "text": "level"
        },
        {
          "start": 856.4,
          "end": 856.48,
          "text": "of"
        },
        {
          "start": 856.8,
          "end": 857.28,
          "text": "That's"
        },
        {
          "start": 857.28,
          "end": 857.48,
          "text": "where"
        },
        {
          "start": 857.48,
          "end": 857.56,
          "text": "you"
        },
        {
          "start": 857.56,
          "end": 857.68,
          "text": "get"
        },
        {
          "start": 857.68,
          "end": 857.84,
          "text": "those"
        },
        {
          "start": 857.88,
          "end": 858.36,
          "text": "cutthroat"
        },
        {
          "start": 858.84,
          "end": 859.36,
          "text": "stories,"
        },
        {
          "start": 859.52,
          "end": 859.84,
          "text": "right."
        },
        {
          "start": 859.88,
          "end": 860.0,
          "text": "But"
        },
        {
          "start": 860.04,
          "end": 860.2,
          "text": "there"
        },
        {
          "start": 860.2,
          "end": 860.4,
          "text": "are"
        },
        {
          "start": 860.48,
          "end": 860.72,
          "text": "many"
        },
        {
          "start": 860.72,
          "end": 861.0,
          "text": "others"
        },
        {
          "start": 861.04,
          "end": 861.2,
          "text": "out"
        },
        {
          "start": 861.2,
          "end": 861.36,
          "text": "there"
        },
        {
          "start": 861.4,
          "end": 861.52,
          "text": "who"
        },
        {
          "start": 861.6,
          "end": 861.68,
          "text": "have"
        },
        {
          "start": 861.76,
          "end": 861.96,
          "text": "other"
        },
        {
          "start": 862.04,
          "end": 862.32,
          "text": "ways"
        },
        {
          "start": 862.32,
          "end": 862.44,
          "text": "of"
        },
        {
          "start": 862.48,
          "end": 862.72,
          "text": "doing"
        },
        {
          "start": 862.76,
          "end": 862.92,
          "text": "this"
        },
        {
          "start": 862.96,
          "end": 863.16,
          "text": "who"
        },
        {
          "start": 863.64,
          "end": 864.4,
          "text": "recognize"
        },
        {
          "start": 864.44,
          "end": 864.64,
          "text": "that."
        },
        {
          "start": 864.76,
          "end": 864.84,
          "text": "You"
        },
        {
          "start": 864.84,
          "end": 864.96,
          "text": "know,"
        },
        {
          "start": 865.0,
          "end": 865.16,
          "text": "if"
        },
        {
          "start": 865.2,
          "end": 865.28,
          "text": "you"
        },
        {
          "start": 865.44,
          "end": 865.52,
          "text": "just"
        },
        {
          "start": 865.56,
          "end": 865.64,
          "text": "have"
        },
        {
          "start": 865.68,
          "end": 866.04,
          "text": "everybody"
        },
        {
          "start": 866.16,
          "end": 866.2,
          "text": "in"
        },
        {
          "start": 866.28,
          "end": 866.36,
          "text": "it"
        },
        {
          "start": 866.36,
          "end": 866.44,
          "text": "for"
        },
        {
          "start": 866.48,
          "end": 867.0,
          "text": "themselves,"
        },
        {
          "start": 867.4,
          "end": 867.48,
          "text": "you"
        },
        {
          "start": 867.56,
          "end": 867.84,
          "text": "produce"
        },
        {
          "start": 867.84,
          "end": 867.92,
          "text": "a"
        },
        {
          "start": 867.96,
          "end": 868.36,
          "text": "portfolio"
        },
        {
          "start": 868.4,
          "end": 868.56,
          "text": "that's"
        },
        {
          "start": 868.56,
          "end": 868.8,
          "text": "actually"
        },
        {
          "start": 868.84,
          "end": 869.44,
          "text": "suboptimal"
        },
        {
          "start": 869.8,
          "end": 869.92,
          "text": "at"
        },
        {
          "start": 869.92,
          "end": 870.0,
          "text": "the"
        },
        {
          "start": 870.0,
          "end": 870.2,
          "text": "top"
        },
        {
          "start": 870.28,
          "end": 870.56,
          "text": "level."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 870.8,
          "end": 870.96,
          "text": "This"
        },
        {
          "start": 871.0,
          "end": 871.08,
          "text": "is"
        },
        {
          "start": 871.08,
          "end": 871.24,
          "text": "what"
        },
        {
          "start": 871.32,
          "end": 871.44,
          "text": "I"
        },
        {
          "start": 871.48,
          "end": 871.52,
          "text": "was"
        },
        {
          "start": 871.56,
          "end": 871.68,
          "text": "going"
        },
        {
          "start": 871.76,
          "end": 871.8,
          "text": "to"
        },
        {
          "start": 871.84,
          "end": 872.0,
          "text": "ask."
        },
        {
          "start": 872.08,
          "end": 872.16,
          "text": "Have"
        },
        {
          "start": 872.2,
          "end": 872.28,
          "text": "you"
        },
        {
          "start": 872.36,
          "end": 872.64,
          "text": "noticed"
        },
        {
          "start": 872.68,
          "end": 872.76,
          "text": "a"
        },
        {
          "start": 872.8,
          "end": 873.4,
          "text": "difference"
        },
        {
          "start": 873.56,
          "end": 873.68,
          "text": "in"
        },
        {
          "start": 873.8,
          "end": 874.44,
          "text": "performance"
        },
        {
          "start": 874.52,
          "end": 874.92,
          "text": "between"
        },
        {
          "start": 874.96,
          "end": 875.04,
          "text": "the"
        },
        {
          "start": 875.08,
          "end": 875.32,
          "text": "sort"
        },
        {
          "start": 875.32,
          "end": 875.4,
          "text": "of"
        },
        {
          "start": 875.56,
          "end": 876.12,
          "text": "cutthroat"
        },
        {
          "start": 876.2,
          "end": 876.8,
          "text": "competitive"
        },
        {
          "start": 876.8,
          "end": 877.16,
          "text": "firms"
        },
        {
          "start": 877.24,
          "end": 877.48,
          "text": "versus"
        },
        {
          "start": 877.56,
          "end": 877.64,
          "text": "the"
        },
        {
          "start": 877.68,
          "end": 877.84,
          "text": "more"
        },
        {
          "start": 877.88,
          "end": 878.48,
          "text": "cooperative"
        },
        {
          "start": 878.52,
          "end": 878.88,
          "text": "ones."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 878.96,
          "end": 879.12,
          "text": "That's"
        },
        {
          "start": 879.16,
          "end": 879.2,
          "text": "a"
        },
        {
          "start": 879.24,
          "end": 879.4,
          "text": "really"
        },
        {
          "start": 879.44,
          "end": 879.56,
          "text": "good"
        },
        {
          "start": 879.64,
          "end": 879.96,
          "text": "question,"
        },
        {
          "start": 880.2,
          "end": 880.32,
          "text": "and"
        },
        {
          "start": 880.36,
          "end": 880.44,
          "text": "the"
        },
        {
          "start": 880.48,
          "end": 880.76,
          "text": "short"
        },
        {
          "start": 880.76,
          "end": 881.16,
          "text": "answer"
        },
        {
          "start": 881.24,
          "end": 881.32,
          "text": "is"
        },
        {
          "start": 881.36,
          "end": 881.52,
          "text": "it's"
        },
        {
          "start": 881.52,
          "end": 881.68,
          "text": "really"
        },
        {
          "start": 881.72,
          "end": 881.92,
          "text": "hard"
        },
        {
          "start": 881.96,
          "end": 882.04,
          "text": "to"
        },
        {
          "start": 882.08,
          "end": 883.08,
          "text": "distinguish"
        },
        {
          "start": 883.12,
          "end": 883.48,
          "text": "between"
        },
        {
          "start": 883.52,
          "end": 883.72,
          "text": "them."
        },
        {
          "start": 883.92,
          "end": 884.04,
          "text": "On"
        },
        {
          "start": 884.08,
          "end": 884.2,
          "text": "the"
        },
        {
          "start": 884.24,
          "end": 884.76,
          "text": "outside"
        },
        {
          "start": 885.32,
          "end": 885.4,
          "text": "The"
        },
        {
          "start": 885.48,
          "end": 885.92,
          "text": "interesting"
        },
        {
          "start": 885.96,
          "end": 886.16,
          "text": "thing"
        },
        {
          "start": 886.28,
          "end": 886.64,
          "text": "really"
        },
        {
          "start": 886.88,
          "end": 887.04,
          "text": "is"
        },
        {
          "start": 887.36,
          "end": 887.6,
          "text": "more"
        },
        {
          "start": 887.68,
          "end": 888.24,
          "text": "around"
        },
        {
          "start": 888.44,
          "end": 888.52,
          "text": "what"
        },
        {
          "start": 888.6,
          "end": 888.92,
          "text": "happens"
        },
        {
          "start": 888.92,
          "end": 889.08,
          "text": "when"
        },
        {
          "start": 889.08,
          "end": 889.24,
          "text": "things"
        },
        {
          "start": 889.28,
          "end": 889.36,
          "text": "are"
        },
        {
          "start": 889.4,
          "end": 889.56,
          "text": "going"
        },
        {
          "start": 889.6,
          "end": 889.88,
          "text": "badly"
        },
        {
          "start": 889.92,
          "end": 890.0,
          "text": "for"
        },
        {
          "start": 890.04,
          "end": 890.36,
          "text": "both"
        },
        {
          "start": 890.92,
          "end": 891.0,
          "text": "that"
        },
        {
          "start": 891.08,
          "end": 891.24,
          "text": "you're"
        },
        {
          "start": 891.28,
          "end": 891.44,
          "text": "more"
        },
        {
          "start": 891.56,
          "end": 891.76,
          "text": "likely"
        },
        {
          "start": 891.8,
          "end": 891.88,
          "text": "to"
        },
        {
          "start": 891.92,
          "end": 892.04,
          "text": "have"
        },
        {
          "start": 892.08,
          "end": 892.36,
          "text": "people"
        },
        {
          "start": 892.44,
          "end": 892.6,
          "text": "kind"
        },
        {
          "start": 892.6,
          "end": 892.72,
          "text": "of"
        },
        {
          "start": 892.76,
          "end": 892.84,
          "text": "like"
        },
        {
          "start": 892.96,
          "end": 893.28,
          "text": "quickly"
        },
        {
          "start": 893.36,
          "end": 893.52,
          "text": "leave"
        },
        {
          "start": 893.56,
          "end": 893.64,
          "text": "the"
        },
        {
          "start": 893.68,
          "end": 893.8,
          "text": "more"
        },
        {
          "start": 893.8,
          "end": 894.24,
          "text": "competitive"
        },
        {
          "start": 894.28,
          "end": 894.32,
          "text": "and"
        },
        {
          "start": 894.4,
          "end": 894.52,
          "text": "cut"
        },
        {
          "start": 894.56,
          "end": 894.84,
          "text": "throat"
        },
        {
          "start": 894.84,
          "end": 895.0,
          "text": "one."
        },
        {
          "start": 895.16,
          "end": 895.56,
          "text": "Ah"
        },
        {
          "start": 895.6,
          "end": 895.84,
          "text": "then"
        },
        {
          "start": 895.92,
          "end": 896.0,
          "text": "you"
        },
        {
          "start": 896.04,
          "end": 896.28,
          "text": "would"
        },
        {
          "start": 896.36,
          "end": 896.48,
          "text": "have"
        },
        {
          "start": 896.72,
          "end": 896.84,
          "text": "then"
        },
        {
          "start": 896.88,
          "end": 897.08,
          "text": "maybe"
        },
        {
          "start": 897.08,
          "end": 897.28,
          "text": "they're"
        },
        {
          "start": 897.28,
          "end": 897.4,
          "text": "more"
        },
        {
          "start": 897.44,
          "end": 897.96,
          "text": "cooperative,"
        },
        {
          "start": 898.16,
          "end": 898.24,
          "text": "you"
        },
        {
          "start": 898.28,
          "end": 898.36,
          "text": "know."
        },
        {
          "start": 898.52,
          "end": 898.6,
          "text": "I"
        },
        {
          "start": 898.6,
          "end": 898.84,
          "text": "mean"
        },
        {
          "start": 899.32,
          "end": 899.4,
          "text": "the"
        },
        {
          "start": 899.48,
          "end": 899.72,
          "text": "cool"
        },
        {
          "start": 899.72,
          "end": 899.88,
          "text": "thing"
        },
        {
          "start": 900.04,
          "end": 900.28,
          "text": "about"
        },
        {
          "start": 900.32,
          "end": 900.4,
          "text": "the"
        },
        {
          "start": 900.44,
          "end": 900.68,
          "text": "pod"
        },
        {
          "start": 900.68,
          "end": 900.92,
          "text": "shop"
        },
        {
          "start": 901.0,
          "end": 901.16,
          "text": "and"
        },
        {
          "start": 901.2,
          "end": 901.28,
          "text": "the"
        },
        {
          "start": 901.28,
          "end": 901.76,
          "text": "platform"
        },
        {
          "start": 901.8,
          "end": 902.12,
          "text": "space"
        },
        {
          "start": 902.52,
          "end": 902.6,
          "text": "is"
        },
        {
          "start": 902.6,
          "end": 902.84,
          "text": "there's"
        },
        {
          "start": 902.88,
          "end": 903.24,
          "text": "literally"
        },
        {
          "start": 903.28,
          "end": 903.36,
          "text": "no"
        },
        {
          "start": 903.48,
          "end": 903.64,
          "text": "right"
        },
        {
          "start": 903.68,
          "end": 903.84,
          "text": "way"
        },
        {
          "start": 903.88,
          "end": 903.96,
          "text": "to"
        },
        {
          "start": 904.0,
          "end": 904.08,
          "text": "do"
        },
        {
          "start": 904.16,
          "end": 904.24,
          "text": "this."
        },
        {
          "start": 904.76,
          "end": 905.0,
          "text": "There's"
        },
        {
          "start": 905.04,
          "end": 905.16,
          "text": "a"
        },
        {
          "start": 905.2,
          "end": 905.44,
          "text": "real"
        },
        {
          "start": 905.52,
          "end": 905.84,
          "text": "series"
        },
        {
          "start": 905.88,
          "end": 906.0,
          "text": "of"
        },
        {
          "start": 906.0,
          "end": 906.28,
          "text": "trade"
        },
        {
          "start": 906.28,
          "end": 906.56,
          "text": "offs,"
        },
        {
          "start": 907.08,
          "end": 907.24,
          "text": "right,"
        },
        {
          "start": 907.28,
          "end": 907.36,
          "text": "and"
        },
        {
          "start": 907.44,
          "end": 907.64,
          "text": "there's"
        },
        {
          "start": 907.72,
          "end": 908.08,
          "text": "choices"
        },
        {
          "start": 908.12,
          "end": 908.2,
          "text": "you"
        },
        {
          "start": 908.24,
          "end": 908.4,
          "text": "make"
        },
        {
          "start": 908.48,
          "end": 908.52,
          "text": "have"
        },
        {
          "start": 908.64,
          "end": 908.84,
          "text": "cost"
        },
        {
          "start": 908.92,
          "end": 909.08,
          "text": "many"
        },
        {
          "start": 909.08,
          "end": 909.36,
          "text": "different"
        },
        {
          "start": 909.4,
          "end": 909.72,
          "text": "different"
        },
        {
          "start": 909.72,
          "end": 910.28,
          "text": "dimensions."
        },
        {
          "start": 910.28,
          "end": 910.64,
          "text": "Because,"
        },
        {
          "start": 911.0,
          "end": 911.2,
          "text": "for"
        },
        {
          "start": 911.24,
          "end": 911.68,
          "text": "example,"
        },
        {
          "start": 911.96,
          "end": 912.08,
          "text": "if"
        },
        {
          "start": 912.08,
          "end": 912.12,
          "text": "you"
        },
        {
          "start": 912.2,
          "end": 912.44,
          "text": "choose"
        },
        {
          "start": 912.48,
          "end": 912.52,
          "text": "to"
        },
        {
          "start": 912.56,
          "end": 912.64,
          "text": "do"
        },
        {
          "start": 912.72,
          "end": 913.32,
          "text": "cooperation"
        },
        {
          "start": 914.0,
          "end": 914.2,
          "text": "right"
        },
        {
          "start": 914.28,
          "end": 914.4,
          "text": "and"
        },
        {
          "start": 914.44,
          "end": 914.52,
          "text": "you"
        },
        {
          "start": 914.6,
          "end": 915.16,
          "text": "incentivize"
        },
        {
          "start": 915.16,
          "end": 915.56,
          "text": "everybody,"
        },
        {
          "start": 915.6,
          "end": 915.64,
          "text": "you"
        },
        {
          "start": 915.68,
          "end": 916.0,
          "text": "typically"
        },
        {
          "start": 916.0,
          "end": 916.24,
          "text": "would"
        },
        {
          "start": 916.24,
          "end": 916.28,
          "text": "do"
        },
        {
          "start": 916.32,
          "end": 916.4,
          "text": "it"
        },
        {
          "start": 916.44,
          "end": 916.48,
          "text": "in"
        },
        {
          "start": 916.52,
          "end": 916.56,
          "text": "a"
        },
        {
          "start": 916.64,
          "end": 916.76,
          "text": "kind"
        },
        {
          "start": 916.76,
          "end": 916.8,
          "text": "of"
        },
        {
          "start": 916.8,
          "end": 916.88,
          "text": "a"
        },
        {
          "start": 916.88,
          "end": 917.28,
          "text": "traditional"
        },
        {
          "start": 917.36,
          "end": 917.6,
          "text": "multi"
        },
        {
          "start": 917.6,
          "end": 918.04,
          "text": "strategy"
        },
        {
          "start": 918.2,
          "end": 918.76,
          "text": "context,"
        },
        {
          "start": 919.36,
          "end": 919.52,
          "text": "right."
        },
        {
          "start": 919.6,
          "end": 919.76,
          "text": "What"
        },
        {
          "start": 919.76,
          "end": 919.92,
          "text": "that"
        },
        {
          "start": 920.0,
          "end": 920.36,
          "text": "means"
        },
        {
          "start": 920.6,
          "end": 920.76,
          "text": "is"
        },
        {
          "start": 920.8,
          "end": 920.92,
          "text": "that"
        },
        {
          "start": 920.96,
          "end": 921.16,
          "text": "you're"
        },
        {
          "start": 921.2,
          "end": 921.32,
          "text": "not"
        },
        {
          "start": 921.36,
          "end": 921.56,
          "text": "going"
        },
        {
          "start": 921.6,
          "end": 921.72,
          "text": "to"
        },
        {
          "start": 921.76,
          "end": 921.92,
          "text": "have"
        },
        {
          "start": 922.04,
          "end": 922.08,
          "text": "the"
        },
        {
          "start": 922.16,
          "end": 922.28,
          "text": "eat"
        },
        {
          "start": 922.32,
          "end": 922.4,
          "text": "what"
        },
        {
          "start": 922.48,
          "end": 922.56,
          "text": "you"
        },
        {
          "start": 922.64,
          "end": 922.8,
          "text": "kill"
        },
        {
          "start": 922.84,
          "end": 923.32,
          "text": "mentality."
        },
        {
          "start": 923.36,
          "end": 923.44,
          "text": "You"
        },
        {
          "start": 923.44,
          "end": 923.6,
          "text": "may"
        },
        {
          "start": 923.6,
          "end": 923.68,
          "text": "have"
        },
        {
          "start": 923.72,
          "end": 924.04,
          "text": "certain"
        },
        {
          "start": 924.84,
          "end": 925.08,
          "text": "bits"
        },
        {
          "start": 925.08,
          "end": 925.4,
          "text": "around"
        },
        {
          "start": 925.44,
          "end": 925.52,
          "text": "that,"
        },
        {
          "start": 925.6,
          "end": 925.68,
          "text": "but"
        },
        {
          "start": 925.8,
          "end": 925.96,
          "text": "if"
        },
        {
          "start": 926.0,
          "end": 926.08,
          "text": "you"
        },
        {
          "start": 926.2,
          "end": 926.4,
          "text": "use"
        },
        {
          "start": 926.48,
          "end": 926.64,
          "text": "that"
        },
        {
          "start": 926.72,
          "end": 926.96,
          "text": "thing,"
        },
        {
          "start": 927.44,
          "end": 927.52,
          "text": "you"
        },
        {
          "start": 927.64,
          "end": 927.72,
          "text": "have"
        },
        {
          "start": 927.8,
          "end": 927.88,
          "text": "a"
        },
        {
          "start": 928.0,
          "end": 928.32,
          "text": "very"
        },
        {
          "start": 928.6,
          "end": 929.0,
          "text": "good"
        },
        {
          "start": 929.24,
          "end": 929.56,
          "text": "place"
        },
        {
          "start": 929.6,
          "end": 929.68,
          "text": "to"
        },
        {
          "start": 929.72,
          "end": 930.0,
          "text": "work,"
        },
        {
          "start": 930.88,
          "end": 931.0,
          "text": "but"
        },
        {
          "start": 931.12,
          "end": 931.28,
          "text": "you."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 931.32,
          "end": 931.44,
          "text": "End"
        },
        {
          "start": 931.52,
          "end": 931.64,
          "text": "up"
        },
        {
          "start": 931.64,
          "end": 931.72,
          "text": "with"
        },
        {
          "start": 931.76,
          "end": 931.84,
          "text": "a"
        },
        {
          "start": 931.88,
          "end": 932.32,
          "text": "situation."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 932.4,
          "end": 932.6,
          "text": "Where"
        },
        {
          "start": 932.56,
          "end": 932.84,
          "text": "As"
        },
        {
          "start": 932.84,
          "end": 932.92,
          "text": "we"
        },
        {
          "start": 932.92,
          "end": 933.12,
          "text": "talked"
        },
        {
          "start": 933.12,
          "end": 933.36,
          "text": "about"
        },
        {
          "start": 933.36,
          "end": 933.68,
          "text": "earlier,"
        },
        {
          "start": 933.72,
          "end": 933.92,
          "text": "netting"
        },
        {
          "start": 934.0,
          "end": 934.16,
          "text": "risk"
        },
        {
          "start": 934.28,
          "end": 934.32,
          "text": "is"
        },
        {
          "start": 934.32,
          "end": 934.4,
          "text": "a"
        },
        {
          "start": 934.44,
          "end": 934.64,
          "text": "real"
        },
        {
          "start": 934.68,
          "end": 934.96,
          "text": "cost."
        },
        {
          "start": 935.72,
          "end": 935.8,
          "text": "So"
        },
        {
          "start": 935.8,
          "end": 935.92,
          "text": "what"
        },
        {
          "start": 935.96,
          "end": 936.08,
          "text": "that"
        },
        {
          "start": 936.16,
          "end": 936.48,
          "text": "often"
        },
        {
          "start": 936.52,
          "end": 936.8,
          "text": "means"
        },
        {
          "start": 936.84,
          "end": 936.88,
          "text": "is"
        },
        {
          "start": 936.92,
          "end": 937.04,
          "text": "that"
        },
        {
          "start": 937.12,
          "end": 937.64,
          "text": "compensation"
        },
        {
          "start": 937.84,
          "end": 938.44,
          "text": "choice"
        },
        {
          "start": 939.24,
          "end": 939.68,
          "text": "drives"
        },
        {
          "start": 939.72,
          "end": 939.8,
          "text": "you"
        },
        {
          "start": 939.88,
          "end": 939.96,
          "text": "to"
        },
        {
          "start": 940.04,
          "end": 940.12,
          "text": "be"
        },
        {
          "start": 940.24,
          "end": 940.32,
          "text": "a"
        },
        {
          "start": 940.32,
          "end": 940.52,
          "text": "bit"
        },
        {
          "start": 940.56,
          "end": 940.72,
          "text": "more"
        },
        {
          "start": 940.72,
          "end": 941.24,
          "text": "correlated"
        },
        {
          "start": 941.24,
          "end": 941.4,
          "text": "within"
        },
        {
          "start": 941.48,
          "end": 941.56,
          "text": "your"
        },
        {
          "start": 941.6,
          "end": 941.72,
          "text": "own"
        },
        {
          "start": 941.72,
          "end": 942.12,
          "text": "portfolio"
        },
        {
          "start": 942.16,
          "end": 942.24,
          "text": "and"
        },
        {
          "start": 942.28,
          "end": 942.36,
          "text": "be"
        },
        {
          "start": 942.36,
          "end": 942.44,
          "text": "a"
        },
        {
          "start": 942.44,
          "end": 942.6,
          "text": "bit"
        },
        {
          "start": 942.68,
          "end": 942.84,
          "text": "bit"
        },
        {
          "start": 942.92,
          "end": 943.24,
          "text": "less,"
        },
        {
          "start": 943.48,
          "end": 943.64,
          "text": "bit"
        },
        {
          "start": 943.72,
          "end": 943.96,
          "text": "less,"
        },
        {
          "start": 944.36,
          "end": 944.6,
          "text": "little"
        },
        {
          "start": 944.6,
          "end": 944.8,
          "text": "lower"
        },
        {
          "start": 944.8,
          "end": 945.04,
          "text": "sharp"
        },
        {
          "start": 945.12,
          "end": 945.44,
          "text": "ratio."
        },
        {
          "start": 945.48,
          "end": 945.68,
          "text": "Why"
        },
        {
          "start": 945.76,
          "end": 945.84,
          "text": "is"
        },
        {
          "start": 945.88,
          "end": 946.0,
          "text": "that"
        },
        {
          "start": 946.08,
          "end": 946.44,
          "text": "Because"
        },
        {
          "start": 946.72,
          "end": 946.88,
          "text": "if"
        },
        {
          "start": 947.08,
          "end": 947.4,
          "text": "netting"
        },
        {
          "start": 947.48,
          "end": 947.68,
          "text": "risk"
        },
        {
          "start": 947.76,
          "end": 947.84,
          "text": "or"
        },
        {
          "start": 947.88,
          "end": 947.96,
          "text": "the"
        },
        {
          "start": 947.96,
          "end": 948.2,
          "text": "cost"
        },
        {
          "start": 948.2,
          "end": 948.28,
          "text": "of"
        },
        {
          "start": 948.32,
          "end": 948.64,
          "text": "netting"
        },
        {
          "start": 948.72,
          "end": 948.8,
          "text": "is"
        },
        {
          "start": 948.8,
          "end": 948.92,
          "text": "a"
        },
        {
          "start": 948.92,
          "end": 949.12,
          "text": "real"
        },
        {
          "start": 949.16,
          "end": 949.48,
          "text": "business"
        },
        {
          "start": 949.56,
          "end": 949.76,
          "text": "risk."
        },
        {
          "start": 949.8,
          "end": 949.88,
          "text": "You"
        },
        {
          "start": 950.0,
          "end": 950.24,
          "text": "choose"
        },
        {
          "start": 950.24,
          "end": 950.32,
          "text": "to"
        },
        {
          "start": 950.32,
          "end": 950.76,
          "text": "minimize"
        },
        {
          "start": 950.76,
          "end": 950.84,
          "text": "it,"
        },
        {
          "start": 950.88,
          "end": 950.96,
          "text": "and"
        },
        {
          "start": 951.0,
          "end": 951.08,
          "text": "the"
        },
        {
          "start": 951.08,
          "end": 951.28,
          "text": "way"
        },
        {
          "start": 951.48,
          "end": 951.76,
          "text": "easily"
        },
        {
          "start": 951.8,
          "end": 951.84,
          "text": "to"
        },
        {
          "start": 951.92,
          "end": 952.36,
          "text": "minimize"
        },
        {
          "start": 952.36,
          "end": 952.52,
          "text": "it"
        },
        {
          "start": 952.52,
          "end": 952.64,
          "text": "has"
        },
        {
          "start": 952.68,
          "end": 952.84,
          "text": "had"
        },
        {
          "start": 952.88,
          "end": 953.24,
          "text": "everybody"
        },
        {
          "start": 953.36,
          "end": 953.56,
          "text": "kind"
        },
        {
          "start": 953.56,
          "end": 953.64,
          "text": "of"
        },
        {
          "start": 953.68,
          "end": 953.8,
          "text": "make"
        },
        {
          "start": 953.84,
          "end": 954.08,
          "text": "money"
        },
        {
          "start": 954.08,
          "end": 954.16,
          "text": "at"
        },
        {
          "start": 954.16,
          "end": 954.2,
          "text": "the"
        },
        {
          "start": 954.24,
          "end": 954.44,
          "text": "same"
        },
        {
          "start": 954.48,
          "end": 954.68,
          "text": "time"
        },
        {
          "start": 955.2,
          "end": 955.6,
          "text": "everybody"
        },
        {
          "start": 955.68,
          "end": 955.84,
          "text": "kind"
        },
        {
          "start": 955.88,
          "end": 955.96,
          "text": "of"
        },
        {
          "start": 955.96,
          "end": 956.16,
          "text": "lose"
        },
        {
          "start": 956.2,
          "end": 956.4,
          "text": "money"
        },
        {
          "start": 956.4,
          "end": 956.52,
          "text": "at"
        },
        {
          "start": 956.52,
          "end": 956.6,
          "text": "the"
        },
        {
          "start": 956.6,
          "end": 956.8,
          "text": "same"
        },
        {
          "start": 956.84,
          "end": 957.04,
          "text": "time,"
        },
        {
          "start": 957.4,
          "end": 957.52,
          "text": "and"
        },
        {
          "start": 957.56,
          "end": 957.68,
          "text": "then"
        },
        {
          "start": 957.68,
          "end": 957.72,
          "text": "you"
        },
        {
          "start": 957.76,
          "end": 958.0,
          "text": "won't"
        },
        {
          "start": 958.0,
          "end": 958.04,
          "text": "be"
        },
        {
          "start": 958.08,
          "end": 958.28,
          "text": "picked"
        },
        {
          "start": 958.32,
          "end": 958.44,
          "text": "off"
        },
        {
          "start": 958.44,
          "end": 958.56,
          "text": "by"
        },
        {
          "start": 958.56,
          "end": 958.6,
          "text": "the"
        },
        {
          "start": 958.64,
          "end": 958.8,
          "text": "pod"
        },
        {
          "start": 958.8,
          "end": 960.44,
          "text": "Shopsimilarly,"
        },
        {
          "start": 960.56,
          "end": 960.68,
          "text": "if"
        },
        {
          "start": 960.72,
          "end": 960.8,
          "text": "you"
        },
        {
          "start": 960.84,
          "end": 960.88,
          "text": "have"
        },
        {
          "start": 960.92,
          "end": 961.52,
          "text": "competition,"
        },
        {
          "start": 962.36,
          "end": 962.52,
          "text": "right,"
        },
        {
          "start": 962.8,
          "end": 963.28,
          "text": "competition"
        },
        {
          "start": 963.36,
          "end": 963.44,
          "text": "is"
        },
        {
          "start": 963.56,
          "end": 963.76,
          "text": "an"
        },
        {
          "start": 963.76,
          "end": 964.76,
          "text": "incredibly"
        },
        {
          "start": 964.84,
          "end": 965.28,
          "text": "powerful"
        },
        {
          "start": 965.36,
          "end": 965.64,
          "text": "human"
        },
        {
          "start": 966.36,
          "end": 966.52,
          "text": "thing,"
        },
        {
          "start": 966.88,
          "end": 966.96,
          "text": "but"
        },
        {
          "start": 967.36,
          "end": 967.48,
          "text": "it"
        },
        {
          "start": 967.56,
          "end": 967.84,
          "text": "gets"
        },
        {
          "start": 967.84,
          "end": 968.0,
          "text": "out"
        },
        {
          "start": 968.04,
          "end": 968.12,
          "text": "of"
        },
        {
          "start": 968.12,
          "end": 968.52,
          "text": "control"
        },
        {
          "start": 968.84,
          "end": 968.92,
          "text": "and"
        },
        {
          "start": 969.08,
          "end": 969.16,
          "text": "you"
        },
        {
          "start": 969.24,
          "end": 969.36,
          "text": "end"
        },
        {
          "start": 969.44,
          "end": 969.52,
          "text": "up"
        },
        {
          "start": 969.56,
          "end": 969.64,
          "text": "with"
        },
        {
          "start": 969.64,
          "end": 969.72,
          "text": "a"
        },
        {
          "start": 969.76,
          "end": 970.2,
          "text": "situation"
        },
        {
          "start": 970.24,
          "end": 970.44,
          "text": "where"
        },
        {
          "start": 970.48,
          "end": 970.72,
          "text": "people"
        },
        {
          "start": 970.8,
          "end": 970.92,
          "text": "just"
        },
        {
          "start": 970.96,
          "end": 971.2,
          "text": "burn"
        },
        {
          "start": 971.24,
          "end": 971.4,
          "text": "out"
        },
        {
          "start": 971.44,
          "end": 971.56,
          "text": "and"
        },
        {
          "start": 971.6,
          "end": 971.68,
          "text": "just"
        },
        {
          "start": 971.76,
          "end": 971.96,
          "text": "leave"
        },
        {
          "start": 972.0,
          "end": 972.08,
          "text": "you."
        },
        {
          "start": 972.68,
          "end": 972.92,
          "text": "People"
        },
        {
          "start": 972.96,
          "end": 973.08,
          "text": "are"
        },
        {
          "start": 973.16,
          "end": 973.64,
          "text": "unhappy."
        },
        {
          "start": 974.16,
          "end": 974.24,
          "text": "You"
        },
        {
          "start": 974.28,
          "end": 974.4,
          "text": "know,"
        },
        {
          "start": 974.44,
          "end": 974.52,
          "text": "you"
        },
        {
          "start": 974.6,
          "end": 974.68,
          "text": "have"
        },
        {
          "start": 974.72,
          "end": 974.76,
          "text": "to"
        },
        {
          "start": 974.8,
          "end": 974.96,
          "text": "kind"
        },
        {
          "start": 974.96,
          "end": 975.0,
          "text": "of"
        },
        {
          "start": 975.08,
          "end": 975.28,
          "text": "keep"
        },
        {
          "start": 975.32,
          "end": 975.64,
          "text": "feeding"
        },
        {
          "start": 975.64,
          "end": 975.88,
          "text": "people"
        },
        {
          "start": 975.96,
          "end": 976.2,
          "text": "into"
        },
        {
          "start": 976.2,
          "end": 976.36,
          "text": "it,"
        },
        {
          "start": 976.64,
          "end": 976.72,
          "text": "and"
        },
        {
          "start": 976.76,
          "end": 976.84,
          "text": "you"
        },
        {
          "start": 976.88,
          "end": 976.96,
          "text": "know"
        },
        {
          "start": 977.0,
          "end": 977.08,
          "text": "that"
        },
        {
          "start": 977.08,
          "end": 977.28,
          "text": "that's"
        },
        {
          "start": 977.28,
          "end": 977.56,
          "text": "totally"
        },
        {
          "start": 977.56,
          "end": 977.8,
          "text": "fine"
        },
        {
          "start": 977.8,
          "end": 978.0,
          "text": "because"
        },
        {
          "start": 978.04,
          "end": 978.16,
          "text": "there"
        },
        {
          "start": 978.16,
          "end": 978.28,
          "text": "are"
        },
        {
          "start": 978.28,
          "end": 978.44,
          "text": "many"
        },
        {
          "start": 978.52,
          "end": 978.68,
          "text": "other"
        },
        {
          "start": 978.76,
          "end": 979.2,
          "text": "industries"
        },
        {
          "start": 979.2,
          "end": 979.36,
          "text": "out"
        },
        {
          "start": 979.36,
          "end": 979.52,
          "text": "there"
        },
        {
          "start": 979.56,
          "end": 979.88,
          "text": "besides"
        },
        {
          "start": 979.92,
          "end": 980.36,
          "text": "finance"
        },
        {
          "start": 980.4,
          "end": 980.48,
          "text": "that"
        },
        {
          "start": 980.52,
          "end": 980.72,
          "text": "does"
        },
        {
          "start": 980.76,
          "end": 980.88,
          "text": "this,"
        },
        {
          "start": 981.52,
          "end": 981.64,
          "text": "you"
        },
        {
          "start": 981.64,
          "end": 981.76,
          "text": "know."
        },
        {
          "start": 982.0,
          "end": 982.08,
          "text": "But"
        },
        {
          "start": 982.44,
          "end": 982.6,
          "text": "at"
        },
        {
          "start": 982.6,
          "end": 982.68,
          "text": "the"
        },
        {
          "start": 982.72,
          "end": 982.96,
          "text": "same"
        },
        {
          "start": 983.04,
          "end": 983.28,
          "text": "time,"
        },
        {
          "start": 983.88,
          "end": 984.0,
          "text": "you"
        },
        {
          "start": 984.0,
          "end": 984.08,
          "text": "know,"
        },
        {
          "start": 984.12,
          "end": 984.2,
          "text": "you"
        },
        {
          "start": 984.28,
          "end": 984.36,
          "text": "end"
        },
        {
          "start": 984.44,
          "end": 984.52,
          "text": "up"
        },
        {
          "start": 984.56,
          "end": 984.6,
          "text": "with"
        },
        {
          "start": 984.64,
          "end": 984.68,
          "text": "a"
        },
        {
          "start": 984.68,
          "end": 984.88,
          "text": "whole"
        },
        {
          "start": 984.88,
          "end": 985.0,
          "text": "lot"
        },
        {
          "start": 985.0,
          "end": 985.04,
          "text": "of"
        },
        {
          "start": 985.08,
          "end": 985.6,
          "text": "scenarios"
        },
        {
          "start": 985.64,
          "end": 985.72,
          "text": "that"
        },
        {
          "start": 985.76,
          "end": 985.88,
          "text": "are"
        },
        {
          "start": 985.96,
          "end": 986.12,
          "text": "kind"
        },
        {
          "start": 986.12,
          "end": 986.24,
          "text": "of"
        },
        {
          "start": 987.0,
          "end": 987.04,
          "text": "you"
        },
        {
          "start": 987.32,
          "end": 987.44,
          "text": "end"
        },
        {
          "start": 987.52,
          "end": 987.6,
          "text": "up"
        },
        {
          "start": 987.6,
          "end": 987.68,
          "text": "with"
        },
        {
          "start": 987.68,
          "end": 987.72,
          "text": "a"
        },
        {
          "start": 987.8,
          "end": 987.92,
          "text": "kind"
        },
        {
          "start": 987.92,
          "end": 987.96,
          "text": "of"
        },
        {
          "start": 987.96,
          "end": 988.04,
          "text": "a"
        },
        {
          "start": 988.04,
          "end": 988.28,
          "text": "team"
        },
        {
          "start": 988.28,
          "end": 988.36,
          "text": "of"
        },
        {
          "start": 988.44,
          "end": 988.84,
          "text": "rivals,"
        },
        {
          "start": 989.32,
          "end": 989.36,
          "text": "you"
        },
        {
          "start": 989.4,
          "end": 989.48,
          "text": "know,"
        },
        {
          "start": 989.52,
          "end": 989.6,
          "text": "and"
        },
        {
          "start": 989.64,
          "end": 989.8,
          "text": "then"
        },
        {
          "start": 989.8,
          "end": 990.04,
          "text": "that's"
        },
        {
          "start": 990.72,
          "end": 990.88,
          "text": "it's"
        },
        {
          "start": 990.88,
          "end": 990.92,
          "text": "a"
        },
        {
          "start": 991.0,
          "end": 991.48,
          "text": "dynamic,"
        },
        {
          "start": 991.72,
          "end": 991.8,
          "text": "but"
        },
        {
          "start": 991.84,
          "end": 991.88,
          "text": "it"
        },
        {
          "start": 991.92,
          "end": 991.96,
          "text": "is"
        },
        {
          "start": 991.96,
          "end": 992.0,
          "text": "the"
        },
        {
          "start": 992.04,
          "end": 992.16,
          "text": "one"
        },
        {
          "start": 992.2,
          "end": 992.24,
          "text": "that"
        },
        {
          "start": 992.24,
          "end": 992.32,
          "text": "you"
        },
        {
          "start": 992.32,
          "end": 992.4,
          "text": "have"
        },
        {
          "start": 992.44,
          "end": 992.52,
          "text": "to"
        },
        {
          "start": 992.56,
          "end": 992.76,
          "text": "really"
        },
        {
          "start": 992.8,
          "end": 993.16,
          "text": "control"
        },
        {
          "start": 993.68,
          "end": 994.0,
          "text": "zooming"
        },
        {
          "start": 994.04,
          "end": 994.64,
          "text": "out."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 994.92,
          "end": 995.56,
          "text": "Obviously,"
        },
        {
          "start": 995.96,
          "end": 996.4,
          "text": "the"
        },
        {
          "start": 996.44,
          "end": 997.08,
          "text": "performance"
        },
        {
          "start": 997.08,
          "end": 997.16,
          "text": "of"
        },
        {
          "start": 997.2,
          "end": 997.28,
          "text": "a"
        },
        {
          "start": 997.28,
          "end": 997.44,
          "text": "lot"
        },
        {
          "start": 997.48,
          "end": 997.56,
          "text": "of"
        },
        {
          "start": 997.6,
          "end": 997.68,
          "text": "the"
        },
        {
          "start": 997.68,
          "end": 997.92,
          "text": "well"
        },
        {
          "start": 997.96,
          "end": 998.12,
          "text": "known"
        },
        {
          "start": 998.24,
          "end": 998.56,
          "text": "names"
        },
        {
          "start": 998.56,
          "end": 998.8,
          "text": "has"
        },
        {
          "start": 998.88,
          "end": 999.12,
          "text": "done"
        },
        {
          "start": 999.16,
          "end": 999.4,
          "text": "really"
        },
        {
          "start": 999.44,
          "end": 999.72,
          "text": "well."
        },
        {
          "start": 999.92,
          "end": 1000.16,
          "text": "You're"
        },
        {
          "start": 1000.2,
          "end": 1000.56,
          "text": "talking"
        },
        {
          "start": 1000.6,
          "end": 1000.68,
          "text": "to"
        },
        {
          "start": 1001.0,
          "end": 1001.76,
          "text": "institutional"
        },
        {
          "start": 1001.88,
          "end": 1002.68,
          "text": "allocators"
        },
        {
          "start": 1003.24,
          "end": 1003.52,
          "text": "other"
        },
        {
          "start": 1003.6,
          "end": 1003.8,
          "text": "than"
        },
        {
          "start": 1003.84,
          "end": 1003.92,
          "text": "I"
        },
        {
          "start": 1004.0,
          "end": 1004.32,
          "text": "guess"
        },
        {
          "start": 1004.48,
          "end": 1004.6,
          "text": "the"
        },
        {
          "start": 1004.64,
          "end": 1004.92,
          "text": "fact"
        },
        {
          "start": 1004.92,
          "end": 1005.04,
          "text": "that"
        },
        {
          "start": 1005.08,
          "end": 1005.2,
          "text": "the"
        },
        {
          "start": 1005.2,
          "end": 1005.48,
          "text": "top"
        },
        {
          "start": 1005.52,
          "end": 1005.8,
          "text": "line"
        },
        {
          "start": 1005.84,
          "end": 1006.36,
          "text": "performance"
        },
        {
          "start": 1006.44,
          "end": 1006.48,
          "text": "is"
        },
        {
          "start": 1006.52,
          "end": 1006.68,
          "text": "good"
        },
        {
          "start": 1006.72,
          "end": 1006.8,
          "text": "and"
        },
        {
          "start": 1006.8,
          "end": 1007.12,
          "text": "everyone"
        },
        {
          "start": 1007.32,
          "end": 1007.52,
          "text": "likes"
        },
        {
          "start": 1007.64,
          "end": 1007.92,
          "text": "making"
        },
        {
          "start": 1008.0,
          "end": 1008.32,
          "text": "money,"
        },
        {
          "start": 1008.44,
          "end": 1008.52,
          "text": "what"
        },
        {
          "start": 1008.68,
          "end": 1008.76,
          "text": "is"
        },
        {
          "start": 1008.8,
          "end": 1008.88,
          "text": "the"
        },
        {
          "start": 1009.0,
          "end": 1009.36,
          "text": "general"
        },
        {
          "start": 1009.44,
          "end": 1009.72,
          "text": "pitch?"
        },
        {
          "start": 1010.0,
          "end": 1010.12,
          "text": "And"
        },
        {
          "start": 1010.16,
          "end": 1010.4,
          "text": "we've"
        },
        {
          "start": 1010.44,
          "end": 1010.68,
          "text": "seen"
        },
        {
          "start": 1010.76,
          "end": 1010.92,
          "text": "this"
        },
        {
          "start": 1011.04,
          "end": 1011.4,
          "text": "trend"
        },
        {
          "start": 1011.6,
          "end": 1012.2,
          "text": "obviously"
        },
        {
          "start": 1012.4,
          "end": 1012.56,
          "text": "from"
        },
        {
          "start": 1012.72,
          "end": 1013.24,
          "text": "allocation"
        },
        {
          "start": 1013.44,
          "end": 1013.48,
          "text": "to"
        },
        {
          "start": 1013.64,
          "end": 1014.0,
          "text": "single"
        },
        {
          "start": 1014.12,
          "end": 1014.4,
          "text": "fund"
        },
        {
          "start": 1014.4,
          "end": 1015.0,
          "text": "managers."
        },
        {
          "start": 1015.32,
          "end": 1015.4,
          "text": "You"
        },
        {
          "start": 1015.44,
          "end": 1015.52,
          "text": "know"
        },
        {
          "start": 1015.6,
          "end": 1015.72,
          "text": "your"
        },
        {
          "start": 1015.8,
          "end": 1016.36,
          "text": "traditional"
        },
        {
          "start": 1016.4,
          "end": 1016.68,
          "text": "guys"
        },
        {
          "start": 1016.68,
          "end": 1016.84,
          "text": "who"
        },
        {
          "start": 1016.84,
          "end": 1017.08,
          "text": "would"
        },
        {
          "start": 1017.08,
          "end": 1017.16,
          "text": "like"
        },
        {
          "start": 1017.16,
          "end": 1017.24,
          "text": "go"
        },
        {
          "start": 1017.32,
          "end": 1017.4,
          "text": "on"
        },
        {
          "start": 1017.48,
          "end": 1017.72,
          "text": "TV"
        },
        {
          "start": 1017.84,
          "end": 1017.92,
          "text": "and"
        },
        {
          "start": 1017.92,
          "end": 1018.04,
          "text": "they"
        },
        {
          "start": 1018.08,
          "end": 1018.4,
          "text": "unveil"
        },
        {
          "start": 1018.44,
          "end": 1018.56,
          "text": "their"
        },
        {
          "start": 1018.6,
          "end": 1018.84,
          "text": "long"
        },
        {
          "start": 1018.96,
          "end": 1019.04,
          "text": "or"
        },
        {
          "start": 1019.04,
          "end": 1019.44,
          "text": "whatever."
        },
        {
          "start": 1020.4,
          "end": 1020.56,
          "text": "As"
        },
        {
          "start": 1020.56,
          "end": 1020.64,
          "text": "a"
        },
        {
          "start": 1020.68,
          "end": 1021.12,
          "text": "digression."
        },
        {
          "start": 1021.12,
          "end": 1021.16,
          "text": "I"
        },
        {
          "start": 1021.16,
          "end": 1021.4,
          "text": "always"
        },
        {
          "start": 1021.44,
          "end": 1021.56,
          "text": "think"
        },
        {
          "start": 1021.56,
          "end": 1021.68,
          "text": "it's"
        },
        {
          "start": 1021.68,
          "end": 1021.92,
          "text": "funny"
        },
        {
          "start": 1021.96,
          "end": 1022.12,
          "text": "when"
        },
        {
          "start": 1022.12,
          "end": 1022.16,
          "text": "you"
        },
        {
          "start": 1022.2,
          "end": 1022.4,
          "text": "see"
        },
        {
          "start": 1022.4,
          "end": 1022.56,
          "text": "these"
        },
        {
          "start": 1022.6,
          "end": 1022.84,
          "text": "pod"
        },
        {
          "start": 1023.2,
          "end": 1023.84,
          "text": "managers"
        },
        {
          "start": 1024.16,
          "end": 1024.28,
          "text": "on"
        },
        {
          "start": 1024.36,
          "end": 1024.6,
          "text": "TV"
        },
        {
          "start": 1024.68,
          "end": 1024.76,
          "text": "and"
        },
        {
          "start": 1024.76,
          "end": 1024.88,
          "text": "they"
        },
        {
          "start": 1024.88,
          "end": 1025.08,
          "text": "get"
        },
        {
          "start": 1025.08,
          "end": 1025.32,
          "text": "asked"
        },
        {
          "start": 1025.32,
          "end": 1025.6,
          "text": "about"
        },
        {
          "start": 1025.6,
          "end": 1025.92,
          "text": "their"
        },
        {
          "start": 1026.32,
          "end": 1026.6,
          "text": "thoughts"
        },
        {
          "start": 1026.6,
          "end": 1026.84,
          "text": "about"
        },
        {
          "start": 1026.84,
          "end": 1026.92,
          "text": "the"
        },
        {
          "start": 1026.92,
          "end": 1027.16,
          "text": "market,"
        },
        {
          "start": 1027.2,
          "end": 1027.4,
          "text": "because"
        },
        {
          "start": 1027.4,
          "end": 1027.56,
          "text": "it's"
        },
        {
          "start": 1027.56,
          "end": 1027.88,
          "text": "clearly"
        },
        {
          "start": 1027.96,
          "end": 1028.16,
          "text": "that's"
        },
        {
          "start": 1028.2,
          "end": 1028.36,
          "text": "not"
        },
        {
          "start": 1028.44,
          "end": 1028.64,
          "text": "really"
        },
        {
          "start": 1028.68,
          "end": 1028.88,
          "text": "even"
        },
        {
          "start": 1028.92,
          "end": 1029.0,
          "text": "what"
        },
        {
          "start": 1029.04,
          "end": 1029.2,
          "text": "their"
        },
        {
          "start": 1029.24,
          "end": 1029.64,
          "text": "focus"
        },
        {
          "start": 1029.72,
          "end": 1029.8,
          "text": "is"
        },
        {
          "start": 1029.92,
          "end": 1030.04,
          "text": "on"
        },
        {
          "start": 1030.32,
          "end": 1030.4,
          "text": "in"
        },
        {
          "start": 1030.48,
          "end": 1030.76,
          "text": "terms"
        },
        {
          "start": 1030.76,
          "end": 1030.84,
          "text": "of"
        },
        {
          "start": 1030.84,
          "end": 1031.16,
          "text": "business"
        },
        {
          "start": 1031.16,
          "end": 1031.56,
          "text": "structure"
        },
        {
          "start": 1031.6,
          "end": 1031.84,
          "text": "design."
        },
        {
          "start": 1031.88,
          "end": 1031.92,
          "text": "So"
        },
        {
          "start": 1031.96,
          "end": 1032.08,
          "text": "I'm"
        },
        {
          "start": 1032.08,
          "end": 1032.36,
          "text": "always"
        },
        {
          "start": 1032.36,
          "end": 1032.56,
          "text": "sort"
        },
        {
          "start": 1032.56,
          "end": 1032.64,
          "text": "of"
        },
        {
          "start": 1033.56,
          "end": 1033.76,
          "text": "raise"
        },
        {
          "start": 1033.76,
          "end": 1033.84,
          "text": "an"
        },
        {
          "start": 1033.84,
          "end": 1034.2,
          "text": "eyebrow"
        },
        {
          "start": 1034.24,
          "end": 1034.4,
          "text": "when"
        },
        {
          "start": 1034.4,
          "end": 1034.44,
          "text": "I"
        },
        {
          "start": 1034.48,
          "end": 1034.64,
          "text": "see"
        },
        {
          "start": 1034.68,
          "end": 1034.8,
          "text": "these"
        },
        {
          "start": 1034.84,
          "end": 1035.48,
          "text": "conversations."
        },
        {
          "start": 1035.8,
          "end": 1036.0,
          "text": "Talk"
        },
        {
          "start": 1036.04,
          "end": 1036.12,
          "text": "to"
        },
        {
          "start": 1036.2,
          "end": 1036.32,
          "text": "us"
        },
        {
          "start": 1036.32,
          "end": 1036.68,
          "text": "about"
        },
        {
          "start": 1036.84,
          "end": 1036.92,
          "text": "what"
        },
        {
          "start": 1037.08,
          "end": 1037.2,
          "text": "it"
        },
        {
          "start": 1037.28,
          "end": 1037.36,
          "text": "is"
        },
        {
          "start": 1037.44,
          "end": 1037.88,
          "text": "about"
        },
        {
          "start": 1037.92,
          "end": 1038.2,
          "text": "these"
        },
        {
          "start": 1038.36,
          "end": 1038.8,
          "text": "entities"
        },
        {
          "start": 1038.8,
          "end": 1038.92,
          "text": "in"
        },
        {
          "start": 1039.0,
          "end": 1039.4,
          "text": "general"
        },
        {
          "start": 1039.76,
          "end": 1039.88,
          "text": "that"
        },
        {
          "start": 1039.96,
          "end": 1040.28,
          "text": "holds"
        },
        {
          "start": 1040.32,
          "end": 1040.4,
          "text": "so"
        },
        {
          "start": 1040.48,
          "end": 1040.68,
          "text": "much"
        },
        {
          "start": 1040.72,
          "end": 1040.96,
          "text": "an"
        },
        {
          "start": 1041.0,
          "end": 1041.4,
          "text": "appeal"
        },
        {
          "start": 1041.44,
          "end": 1041.48,
          "text": "for"
        },
        {
          "start": 1041.52,
          "end": 1041.64,
          "text": "an"
        },
        {
          "start": 1041.64,
          "end": 1042.2,
          "text": "institutional"
        },
        {
          "start": 1042.2,
          "end": 1042.72,
          "text": "allocator."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1043.0,
          "end": 1043.16,
          "text": "They"
        },
        {
          "start": 1043.48,
          "end": 1043.84,
          "text": "hold"
        },
        {
          "start": 1044.24,
          "end": 1044.64,
          "text": "appeal"
        },
        {
          "start": 1044.72,
          "end": 1044.8,
          "text": "for"
        },
        {
          "start": 1044.84,
          "end": 1044.88,
          "text": "a"
        },
        {
          "start": 1044.96,
          "end": 1045.36,
          "text": "variety"
        },
        {
          "start": 1045.36,
          "end": 1045.4,
          "text": "of"
        },
        {
          "start": 1045.44,
          "end": 1045.72,
          "text": "different"
        },
        {
          "start": 1045.72,
          "end": 1046.0,
          "text": "reasons,"
        },
        {
          "start": 1046.04,
          "end": 1046.08,
          "text": "and"
        },
        {
          "start": 1046.12,
          "end": 1046.44,
          "text": "obviously"
        },
        {
          "start": 1046.52,
          "end": 1046.56,
          "text": "it"
        },
        {
          "start": 1046.6,
          "end": 1046.76,
          "text": "will"
        },
        {
          "start": 1046.76,
          "end": 1047.12,
          "text": "depend"
        },
        {
          "start": 1047.12,
          "end": 1047.2,
          "text": "on"
        },
        {
          "start": 1047.24,
          "end": 1047.32,
          "text": "the"
        },
        {
          "start": 1047.36,
          "end": 1047.84,
          "text": "individual"
        },
        {
          "start": 1047.84,
          "end": 1048.16,
          "text": "mandate"
        },
        {
          "start": 1048.2,
          "end": 1048.24,
          "text": "of"
        },
        {
          "start": 1048.24,
          "end": 1048.32,
          "text": "the"
        },
        {
          "start": 1048.32,
          "end": 1048.88,
          "text": "allocator,"
        },
        {
          "start": 1049.28,
          "end": 1049.36,
          "text": "but"
        },
        {
          "start": 1049.4,
          "end": 1049.56,
          "text": "there's"
        },
        {
          "start": 1049.56,
          "end": 1049.6,
          "text": "a"
        },
        {
          "start": 1049.6,
          "end": 1049.88,
          "text": "couple"
        },
        {
          "start": 1049.88,
          "end": 1049.96,
          "text": "of"
        },
        {
          "start": 1050.0,
          "end": 1050.64,
          "text": "fundamental"
        },
        {
          "start": 1050.72,
          "end": 1051.08,
          "text": "things"
        },
        {
          "start": 1051.12,
          "end": 1051.24,
          "text": "that"
        },
        {
          "start": 1051.36,
          "end": 1051.64,
          "text": "really"
        },
        {
          "start": 1051.68,
          "end": 1051.88,
          "text": "hold"
        },
        {
          "start": 1051.96,
          "end": 1052.16,
          "text": "true"
        },
        {
          "start": 1052.24,
          "end": 1052.56,
          "text": "across"
        },
        {
          "start": 1052.56,
          "end": 1052.68,
          "text": "all"
        },
        {
          "start": 1052.76,
          "end": 1053.04,
          "text": "multi"
        },
        {
          "start": 1053.08,
          "end": 1053.36,
          "text": "threats."
        },
        {
          "start": 1053.48,
          "end": 1053.56,
          "text": "The"
        },
        {
          "start": 1053.56,
          "end": 1053.84,
          "text": "first"
        },
        {
          "start": 1053.84,
          "end": 1054.08,
          "text": "one"
        },
        {
          "start": 1054.2,
          "end": 1054.28,
          "text": "is"
        },
        {
          "start": 1054.68,
          "end": 1054.88,
          "text": "that"
        },
        {
          "start": 1055.88,
          "end": 1056.12,
          "text": "it's"
        },
        {
          "start": 1056.12,
          "end": 1056.64,
          "text": "interesting"
        },
        {
          "start": 1056.68,
          "end": 1056.76,
          "text": "that"
        },
        {
          "start": 1056.8,
          "end": 1056.92,
          "text": "we"
        },
        {
          "start": 1056.96,
          "end": 1057.12,
          "text": "talk"
        },
        {
          "start": 1057.16,
          "end": 1057.4,
          "text": "about"
        },
        {
          "start": 1057.4,
          "end": 1057.8,
          "text": "pods"
        },
        {
          "start": 1057.84,
          "end": 1057.92,
          "text": "like"
        },
        {
          "start": 1057.96,
          "end": 1058.16,
          "text": "there's"
        },
        {
          "start": 1058.16,
          "end": 1058.4,
          "text": "something"
        },
        {
          "start": 1058.44,
          "end": 1058.64,
          "text": "new,"
        },
        {
          "start": 1058.64,
          "end": 1058.72,
          "text": "But"
        },
        {
          "start": 1058.8,
          "end": 1058.88,
          "text": "if"
        },
        {
          "start": 1058.92,
          "end": 1059.0,
          "text": "you"
        },
        {
          "start": 1059.08,
          "end": 1059.48,
          "text": "actually"
        },
        {
          "start": 1059.56,
          "end": 1059.72,
          "text": "if"
        },
        {
          "start": 1059.72,
          "end": 1059.88,
          "text": "all"
        },
        {
          "start": 1059.88,
          "end": 1060.04,
          "text": "three"
        },
        {
          "start": 1060.08,
          "end": 1060.12,
          "text": "of"
        },
        {
          "start": 1060.2,
          "end": 1060.32,
          "text": "us"
        },
        {
          "start": 1060.32,
          "end": 1060.68,
          "text": "decided"
        },
        {
          "start": 1060.68,
          "end": 1060.76,
          "text": "to"
        },
        {
          "start": 1060.76,
          "end": 1060.84,
          "text": "go"
        },
        {
          "start": 1060.92,
          "end": 1061.08,
          "text": "out"
        },
        {
          "start": 1061.12,
          "end": 1061.24,
          "text": "and"
        },
        {
          "start": 1061.24,
          "end": 1061.6,
          "text": "invest"
        },
        {
          "start": 1061.6,
          "end": 1061.76,
          "text": "into"
        },
        {
          "start": 1061.8,
          "end": 1062.08,
          "text": "twenty"
        },
        {
          "start": 1062.12,
          "end": 1062.68,
          "text": "individual"
        },
        {
          "start": 1063.12,
          "end": 1063.32,
          "text": "hedge"
        },
        {
          "start": 1063.36,
          "end": 1063.72,
          "text": "funds,"
        },
        {
          "start": 1064.56,
          "end": 1064.8,
          "text": "we'd"
        },
        {
          "start": 1064.8,
          "end": 1064.88,
          "text": "have"
        },
        {
          "start": 1064.92,
          "end": 1065.0,
          "text": "the"
        },
        {
          "start": 1065.0,
          "end": 1065.24,
          "text": "same"
        },
        {
          "start": 1065.28,
          "end": 1065.64,
          "text": "issue."
        },
        {
          "start": 1066.16,
          "end": 1066.2,
          "text": "A."
        },
        {
          "start": 1066.52,
          "end": 1066.68,
          "text": "They"
        },
        {
          "start": 1066.68,
          "end": 1066.92,
          "text": "would"
        },
        {
          "start": 1066.96,
          "end": 1067.04,
          "text": "be"
        },
        {
          "start": 1067.04,
          "end": 1067.32,
          "text": "paid"
        },
        {
          "start": 1067.56,
          "end": 1067.68,
          "text": "on"
        },
        {
          "start": 1067.72,
          "end": 1067.8,
          "text": "what"
        },
        {
          "start": 1067.84,
          "end": 1068.0,
          "text": "they"
        },
        {
          "start": 1068.0,
          "end": 1068.16,
          "text": "eat,"
        },
        {
          "start": 1068.2,
          "end": 1068.24,
          "text": "what"
        },
        {
          "start": 1068.28,
          "end": 1068.36,
          "text": "they"
        },
        {
          "start": 1068.48,
          "end": 1068.64,
          "text": "kill."
        },
        {
          "start": 1068.8,
          "end": 1069.04,
          "text": "Yeah,"
        },
        {
          "start": 1069.16,
          "end": 1069.24,
          "text": "B"
        },
        {
          "start": 1069.84,
          "end": 1069.92,
          "text": "we"
        },
        {
          "start": 1070.0,
          "end": 1070.24,
          "text": "would"
        },
        {
          "start": 1070.24,
          "end": 1070.32,
          "text": "have"
        },
        {
          "start": 1070.4,
          "end": 1070.44,
          "text": "to"
        },
        {
          "start": 1070.52,
          "end": 1070.72,
          "text": "hire"
        },
        {
          "start": 1070.72,
          "end": 1070.8,
          "text": "and"
        },
        {
          "start": 1070.84,
          "end": 1071.04,
          "text": "fire"
        },
        {
          "start": 1071.08,
          "end": 1071.4,
          "text": "people."
        },
        {
          "start": 1071.76,
          "end": 1071.92,
          "text": "By"
        },
        {
          "start": 1071.92,
          "end": 1071.96,
          "text": "the"
        },
        {
          "start": 1072.0,
          "end": 1072.2,
          "text": "way,"
        },
        {
          "start": 1072.6,
          "end": 1072.84,
          "text": "hiring"
        },
        {
          "start": 1072.88,
          "end": 1072.96,
          "text": "and"
        },
        {
          "start": 1073.0,
          "end": 1073.24,
          "text": "firing"
        },
        {
          "start": 1073.28,
          "end": 1073.52,
          "text": "people."
        },
        {
          "start": 1073.68,
          "end": 1073.96,
          "text": "Hiring"
        },
        {
          "start": 1074.04,
          "end": 1074.08,
          "text": "is"
        },
        {
          "start": 1074.16,
          "end": 1074.36,
          "text": "fun,"
        },
        {
          "start": 1074.56,
          "end": 1074.88,
          "text": "Firing"
        },
        {
          "start": 1074.92,
          "end": 1075.24,
          "text": "sucks."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1075.4,
          "end": 1075.64,
          "text": "Yeah,"
        },
        {
          "start": 1076.36,
          "end": 1076.44,
          "text": "But"
        },
        {
          "start": 1076.56,
          "end": 1076.6,
          "text": "the"
        },
        {
          "start": 1076.64,
          "end": 1076.92,
          "text": "point,"
        },
        {
          "start": 1077.16,
          "end": 1077.28,
          "text": "but"
        },
        {
          "start": 1077.76,
          "end": 1077.92,
          "text": "the."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1077.88,
          "end": 1078.24,
          "text": "Overall"
        },
        {
          "start": 1078.28,
          "end": 1078.44,
          "text": "thing"
        },
        {
          "start": 1078.56,
          "end": 1078.64,
          "text": "is"
        },
        {
          "start": 1078.64,
          "end": 1078.84,
          "text": "that"
        },
        {
          "start": 1079.08,
          "end": 1079.28,
          "text": "each"
        },
        {
          "start": 1079.28,
          "end": 1079.76,
          "text": "individual"
        },
        {
          "start": 1079.76,
          "end": 1079.92,
          "text": "pe"
        },
        {
          "start": 1080.28,
          "end": 1080.4,
          "text": "in"
        },
        {
          "start": 1080.44,
          "end": 1080.52,
          "text": "that"
        },
        {
          "start": 1080.6,
          "end": 1080.8,
          "text": "set"
        },
        {
          "start": 1080.84,
          "end": 1080.88,
          "text": "of"
        },
        {
          "start": 1080.92,
          "end": 1081.16,
          "text": "single"
        },
        {
          "start": 1081.16,
          "end": 1081.56,
          "text": "strategy"
        },
        {
          "start": 1081.56,
          "end": 1081.76,
          "text": "hedge"
        },
        {
          "start": 1081.76,
          "end": 1082.12,
          "text": "funds"
        },
        {
          "start": 1082.24,
          "end": 1082.36,
          "text": "is"
        },
        {
          "start": 1082.48,
          "end": 1083.12,
          "text": "allocating"
        },
        {
          "start": 1083.44,
          "end": 1083.96,
          "text": "according"
        },
        {
          "start": 1084.0,
          "end": 1084.12,
          "text": "to"
        },
        {
          "start": 1084.12,
          "end": 1084.28,
          "text": "what"
        },
        {
          "start": 1084.52,
          "end": 1084.72,
          "text": "two"
        },
        {
          "start": 1084.76,
          "end": 1085.28,
          "text": "things,"
        },
        {
          "start": 1085.76,
          "end": 1085.92,
          "text": "what"
        },
        {
          "start": 1085.96,
          "end": 1086.12,
          "text": "they"
        },
        {
          "start": 1086.16,
          "end": 1086.36,
          "text": "think"
        },
        {
          "start": 1086.36,
          "end": 1086.44,
          "text": "in"
        },
        {
          "start": 1086.52,
          "end": 1086.68,
          "text": "their"
        },
        {
          "start": 1086.68,
          "end": 1086.88,
          "text": "set"
        },
        {
          "start": 1086.88,
          "end": 1086.96,
          "text": "of"
        },
        {
          "start": 1086.96,
          "end": 1087.44,
          "text": "investors"
        },
        {
          "start": 1087.48,
          "end": 1087.68,
          "text": "want"
        },
        {
          "start": 1088.32,
          "end": 1088.44,
          "text": "and"
        },
        {
          "start": 1088.52,
          "end": 1088.6,
          "text": "be"
        },
        {
          "start": 1088.72,
          "end": 1088.8,
          "text": "what"
        },
        {
          "start": 1088.88,
          "end": 1089.12,
          "text": "they're"
        },
        {
          "start": 1089.12,
          "end": 1089.4,
          "text": "willing"
        },
        {
          "start": 1089.44,
          "end": 1089.52,
          "text": "to"
        },
        {
          "start": 1089.52,
          "end": 1089.76,
          "text": "bear"
        },
        {
          "start": 1089.8,
          "end": 1090.04,
          "text": "because"
        },
        {
          "start": 1090.04,
          "end": 1090.16,
          "text": "it's"
        },
        {
          "start": 1090.16,
          "end": 1090.32,
          "text": "their"
        },
        {
          "start": 1090.32,
          "end": 1090.52,
          "text": "only"
        },
        {
          "start": 1090.64,
          "end": 1090.84,
          "text": "job"
        },
        {
          "start": 1090.92,
          "end": 1091.0,
          "text": "and"
        },
        {
          "start": 1091.04,
          "end": 1091.2,
          "text": "their"
        },
        {
          "start": 1091.28,
          "end": 1091.44,
          "text": "name"
        },
        {
          "start": 1091.48,
          "end": 1091.6,
          "text": "on"
        },
        {
          "start": 1091.64,
          "end": 1093.0,
          "text": "the"
        },
        {
          "start": 1093.0,
          "end": 1093.28,
          "text": "above"
        },
        {
          "start": 1093.28,
          "end": 1093.36,
          "text": "the"
        },
        {
          "start": 1093.4,
          "end": 1093.6,
          "text": "door."
        },
        {
          "start": 1094.12,
          "end": 1094.24,
          "text": "And"
        },
        {
          "start": 1094.28,
          "end": 1094.36,
          "text": "so"
        },
        {
          "start": 1094.4,
          "end": 1094.52,
          "text": "what"
        },
        {
          "start": 1094.56,
          "end": 1094.64,
          "text": "you"
        },
        {
          "start": 1094.76,
          "end": 1094.84,
          "text": "end"
        },
        {
          "start": 1094.96,
          "end": 1095.08,
          "text": "up"
        },
        {
          "start": 1095.32,
          "end": 1095.52,
          "text": "is"
        },
        {
          "start": 1095.52,
          "end": 1095.6,
          "text": "is"
        },
        {
          "start": 1095.64,
          "end": 1095.72,
          "text": "your"
        },
        {
          "start": 1095.76,
          "end": 1095.96,
          "text": "set"
        },
        {
          "start": 1096.0,
          "end": 1096.04,
          "text": "of"
        },
        {
          "start": 1096.08,
          "end": 1096.76,
          "text": "allocations"
        },
        {
          "start": 1097.36,
          "end": 1097.52,
          "text": "that"
        },
        {
          "start": 1097.76,
          "end": 1097.92,
          "text": "when"
        },
        {
          "start": 1097.92,
          "end": 1098.08,
          "text": "you're"
        },
        {
          "start": 1098.12,
          "end": 1098.24,
          "text": "roll"
        },
        {
          "start": 1098.28,
          "end": 1098.36,
          "text": "them"
        },
        {
          "start": 1098.44,
          "end": 1098.52,
          "text": "up"
        },
        {
          "start": 1098.56,
          "end": 1098.84,
          "text": "together,"
        },
        {
          "start": 1099.4,
          "end": 1099.64,
          "text": "are"
        },
        {
          "start": 1099.84,
          "end": 1100.44,
          "text": "individually"
        },
        {
          "start": 1100.48,
          "end": 1100.64,
          "text": "way"
        },
        {
          "start": 1100.72,
          "end": 1100.96,
          "text": "under"
        },
        {
          "start": 1101.0,
          "end": 1101.32,
          "text": "risked,"
        },
        {
          "start": 1102.0,
          "end": 1102.24,
          "text": "right,"
        },
        {
          "start": 1102.88,
          "end": 1103.2,
          "text": "and"
        },
        {
          "start": 1103.32,
          "end": 1103.52,
          "text": "you're"
        },
        {
          "start": 1103.56,
          "end": 1103.68,
          "text": "not"
        },
        {
          "start": 1103.72,
          "end": 1103.96,
          "text": "making"
        },
        {
          "start": 1104.0,
          "end": 1104.08,
          "text": "as"
        },
        {
          "start": 1104.16,
          "end": 1104.32,
          "text": "much"
        },
        {
          "start": 1104.32,
          "end": 1104.52,
          "text": "money"
        },
        {
          "start": 1104.56,
          "end": 1104.68,
          "text": "as"
        },
        {
          "start": 1104.68,
          "end": 1104.72,
          "text": "you"
        },
        {
          "start": 1104.72,
          "end": 1105.0,
          "text": "should"
        },
        {
          "start": 1105.04,
          "end": 1105.24,
          "text": "given"
        },
        {
          "start": 1105.28,
          "end": 1105.36,
          "text": "the"
        },
        {
          "start": 1105.4,
          "end": 1105.6,
          "text": "talent"
        },
        {
          "start": 1105.68,
          "end": 1105.76,
          "text": "that"
        },
        {
          "start": 1105.76,
          "end": 1105.92,
          "text": "you're"
        },
        {
          "start": 1105.92,
          "end": 1106.16,
          "text": "paying"
        },
        {
          "start": 1106.16,
          "end": 1106.28,
          "text": "for"
        },
        {
          "start": 1106.28,
          "end": 1106.36,
          "text": "and"
        },
        {
          "start": 1106.36,
          "end": 1106.4,
          "text": "the"
        },
        {
          "start": 1106.44,
          "end": 1106.72,
          "text": "amount"
        },
        {
          "start": 1106.72,
          "end": 1106.76,
          "text": "of"
        },
        {
          "start": 1106.8,
          "end": 1107.0,
          "text": "fees"
        },
        {
          "start": 1107.0,
          "end": 1107.16,
          "text": "you're"
        },
        {
          "start": 1107.16,
          "end": 1107.4,
          "text": "paying."
        },
        {
          "start": 1108.16,
          "end": 1108.28,
          "text": "So"
        },
        {
          "start": 1108.32,
          "end": 1108.48,
          "text": "when"
        },
        {
          "start": 1108.48,
          "end": 1108.6,
          "text": "you"
        },
        {
          "start": 1108.68,
          "end": 1108.88,
          "text": "hire"
        },
        {
          "start": 1108.92,
          "end": 1108.96,
          "text": "a"
        },
        {
          "start": 1109.0,
          "end": 1109.68,
          "text": "multistrats,"
        },
        {
          "start": 1109.68,
          "end": 1109.8,
          "text": "and"
        },
        {
          "start": 1109.88,
          "end": 1110.08,
          "text": "part"
        },
        {
          "start": 1110.12,
          "end": 1110.2,
          "text": "of"
        },
        {
          "start": 1110.24,
          "end": 1110.36,
          "text": "the"
        },
        {
          "start": 1110.36,
          "end": 1110.64,
          "text": "thesis"
        },
        {
          "start": 1110.68,
          "end": 1110.72,
          "text": "of"
        },
        {
          "start": 1110.76,
          "end": 1110.96,
          "text": "multi"
        },
        {
          "start": 1111.0,
          "end": 1111.28,
          "text": "strats,"
        },
        {
          "start": 1111.28,
          "end": 1111.44,
          "text": "which"
        },
        {
          "start": 1111.48,
          "end": 1111.68,
          "text": "which"
        },
        {
          "start": 1111.72,
          "end": 1111.8,
          "text": "is"
        },
        {
          "start": 1111.8,
          "end": 1112.16,
          "text": "true,"
        },
        {
          "start": 1112.72,
          "end": 1112.8,
          "text": "is"
        },
        {
          "start": 1112.84,
          "end": 1112.96,
          "text": "that"
        },
        {
          "start": 1113.04,
          "end": 1113.32,
          "text": "because"
        },
        {
          "start": 1113.36,
          "end": 1113.56,
          "text": "they're"
        },
        {
          "start": 1113.56,
          "end": 1113.6,
          "text": "a"
        },
        {
          "start": 1113.68,
          "end": 1114.08,
          "text": "unitary"
        },
        {
          "start": 1114.08,
          "end": 1114.52,
          "text": "portfolio"
        },
        {
          "start": 1114.6,
          "end": 1114.68,
          "text": "with"
        },
        {
          "start": 1114.72,
          "end": 1114.96,
          "text": "somebody"
        },
        {
          "start": 1114.96,
          "end": 1115.28,
          "text": "atop"
        },
        {
          "start": 1115.84,
          "end": 1115.92,
          "text": "in"
        },
        {
          "start": 1116.04,
          "end": 1116.32,
          "text": "charge"
        },
        {
          "start": 1116.32,
          "end": 1116.4,
          "text": "of"
        },
        {
          "start": 1116.44,
          "end": 1117.08,
          "text": "it"
        },
        {
          "start": 1117.24,
          "end": 1117.64,
          "text": "driving"
        },
        {
          "start": 1117.68,
          "end": 1117.72,
          "text": "the"
        },
        {
          "start": 1117.84,
          "end": 1118.04,
          "text": "risk"
        },
        {
          "start": 1118.56,
          "end": 1118.64,
          "text": "of"
        },
        {
          "start": 1118.68,
          "end": 1118.76,
          "text": "the"
        },
        {
          "start": 1118.8,
          "end": 1119.24,
          "text": "individual"
        },
        {
          "start": 1119.24,
          "end": 1119.56,
          "text": "pms,"
        },
        {
          "start": 1119.56,
          "end": 1119.64,
          "text": "not"
        },
        {
          "start": 1119.64,
          "end": 1119.72,
          "text": "the"
        },
        {
          "start": 1119.72,
          "end": 1120.16,
          "text": "individual"
        },
        {
          "start": 1120.2,
          "end": 1120.52,
          "text": "pms"
        },
        {
          "start": 1120.52,
          "end": 1120.96,
          "text": "themselves,"
        },
        {
          "start": 1121.44,
          "end": 1121.56,
          "text": "you"
        },
        {
          "start": 1121.6,
          "end": 1121.8,
          "text": "can"
        },
        {
          "start": 1122.08,
          "end": 1122.2,
          "text": "and"
        },
        {
          "start": 1122.24,
          "end": 1122.32,
          "text": "you"
        },
        {
          "start": 1122.36,
          "end": 1122.6,
          "text": "really"
        },
        {
          "start": 1122.64,
          "end": 1123.0,
          "text": "should"
        },
        {
          "start": 1123.12,
          "end": 1123.24,
          "text": "end"
        },
        {
          "start": 1123.32,
          "end": 1123.4,
          "text": "up"
        },
        {
          "start": 1123.4,
          "end": 1123.48,
          "text": "with"
        },
        {
          "start": 1123.52,
          "end": 1123.6,
          "text": "a"
        },
        {
          "start": 1123.6,
          "end": 1123.84,
          "text": "better"
        },
        {
          "start": 1123.84,
          "end": 1124.16,
          "text": "return"
        },
        {
          "start": 1124.2,
          "end": 1124.48,
          "text": "stream"
        },
        {
          "start": 1124.88,
          "end": 1125.16,
          "text": "because"
        },
        {
          "start": 1125.16,
          "end": 1125.32,
          "text": "you've"
        },
        {
          "start": 1125.36,
          "end": 1125.76,
          "text": "coalested"
        },
        {
          "start": 1125.76,
          "end": 1125.88,
          "text": "all"
        },
        {
          "start": 1125.88,
          "end": 1126.12,
          "text": "together"
        },
        {
          "start": 1126.2,
          "end": 1126.4,
          "text": "under"
        },
        {
          "start": 1126.4,
          "end": 1126.48,
          "text": "a"
        },
        {
          "start": 1126.48,
          "end": 1126.72,
          "text": "single"
        },
        {
          "start": 1126.8,
          "end": 1127.2,
          "text": "unitary"
        },
        {
          "start": 1127.2,
          "end": 1127.72,
          "text": "authority"
        },
        {
          "start": 1128.4,
          "end": 1128.6,
          "text": "and"
        },
        {
          "start": 1128.76,
          "end": 1128.92,
          "text": "they"
        },
        {
          "start": 1128.92,
          "end": 1129.08,
          "text": "can"
        },
        {
          "start": 1129.08,
          "end": 1129.24,
          "text": "put"
        },
        {
          "start": 1129.28,
          "end": 1129.4,
          "text": "them"
        },
        {
          "start": 1129.4,
          "end": 1129.48,
          "text": "to"
        },
        {
          "start": 1129.56,
          "end": 1129.64,
          "text": "you"
        },
        {
          "start": 1129.64,
          "end": 1129.72,
          "text": "know,"
        },
        {
          "start": 1129.76,
          "end": 1129.88,
          "text": "they"
        },
        {
          "start": 1129.88,
          "end": 1130.0,
          "text": "put"
        },
        {
          "start": 1130.08,
          "end": 1130.36,
          "text": "leverage"
        },
        {
          "start": 1130.4,
          "end": 1130.44,
          "text": "to"
        },
        {
          "start": 1130.48,
          "end": 1130.64,
          "text": "work,"
        },
        {
          "start": 1130.76,
          "end": 1130.92,
          "text": "risk"
        },
        {
          "start": 1131.0,
          "end": 1131.04,
          "text": "to"
        },
        {
          "start": 1131.08,
          "end": 1131.24,
          "text": "work,"
        },
        {
          "start": 1131.28,
          "end": 1131.36,
          "text": "so"
        },
        {
          "start": 1131.44,
          "end": 1131.52,
          "text": "that"
        },
        {
          "start": 1131.6,
          "end": 1132.56,
          "text": "the"
        },
        {
          "start": 1132.6,
          "end": 1133.24,
          "text": "individual"
        },
        {
          "start": 1133.32,
          "end": 1133.64,
          "text": "PM"
        },
        {
          "start": 1133.88,
          "end": 1134.04,
          "text": "might"
        },
        {
          "start": 1134.08,
          "end": 1134.16,
          "text": "be"
        },
        {
          "start": 1134.16,
          "end": 1134.28,
          "text": "more"
        },
        {
          "start": 1134.36,
          "end": 1134.64,
          "text": "risky"
        },
        {
          "start": 1134.64,
          "end": 1134.76,
          "text": "than"
        },
        {
          "start": 1134.76,
          "end": 1134.92,
          "text": "they"
        },
        {
          "start": 1134.92,
          "end": 1135.12,
          "text": "really"
        },
        {
          "start": 1135.12,
          "end": 1135.4,
          "text": "really"
        },
        {
          "start": 1135.44,
          "end": 1135.64,
          "text": "want"
        },
        {
          "start": 1135.68,
          "end": 1135.76,
          "text": "to"
        },
        {
          "start": 1135.8,
          "end": 1135.88,
          "text": "be"
        },
        {
          "start": 1136.16,
          "end": 1136.2,
          "text": "or"
        },
        {
          "start": 1136.2,
          "end": 1136.4,
          "text": "maybe"
        },
        {
          "start": 1136.44,
          "end": 1136.56,
          "text": "it's"
        },
        {
          "start": 1136.56,
          "end": 1136.84,
          "text": "probably"
        },
        {
          "start": 1136.88,
          "end": 1137.28,
          "text": "obscured"
        },
        {
          "start": 1137.28,
          "end": 1137.4,
          "text": "from"
        },
        {
          "start": 1137.44,
          "end": 1137.56,
          "text": "them"
        },
        {
          "start": 1137.64,
          "end": 1137.96,
          "text": "usually,"
        },
        {
          "start": 1138.4,
          "end": 1138.48,
          "text": "but"
        },
        {
          "start": 1138.52,
          "end": 1138.68,
          "text": "at"
        },
        {
          "start": 1138.68,
          "end": 1138.72,
          "text": "the"
        },
        {
          "start": 1138.8,
          "end": 1138.88,
          "text": "end"
        },
        {
          "start": 1138.88,
          "end": 1138.92,
          "text": "of"
        },
        {
          "start": 1138.96,
          "end": 1139.0,
          "text": "the"
        },
        {
          "start": 1139.12,
          "end": 1139.32,
          "text": "day,"
        },
        {
          "start": 1139.44,
          "end": 1139.56,
          "text": "that"
        },
        {
          "start": 1139.64,
          "end": 1139.84,
          "text": "rolls"
        },
        {
          "start": 1139.92,
          "end": 1140.12,
          "text": "up"
        },
        {
          "start": 1140.16,
          "end": 1140.4,
          "text": "into"
        },
        {
          "start": 1140.44,
          "end": 1140.56,
          "text": "an"
        },
        {
          "start": 1140.56,
          "end": 1141.04,
          "text": "appropriately"
        },
        {
          "start": 1141.12,
          "end": 1141.28,
          "text": "risk"
        },
        {
          "start": 1141.36,
          "end": 1141.84,
          "text": "portfolio"
        },
        {
          "start": 1141.88,
          "end": 1142.16,
          "text": "return."
        },
        {
          "start": 1142.56,
          "end": 1142.8,
          "text": "Right,"
        },
        {
          "start": 1142.92,
          "end": 1143.04,
          "text": "And"
        },
        {
          "start": 1143.16,
          "end": 1143.24,
          "text": "you"
        },
        {
          "start": 1143.28,
          "end": 1143.36,
          "text": "know,"
        },
        {
          "start": 1143.44,
          "end": 1143.64,
          "text": "having"
        },
        {
          "start": 1143.64,
          "end": 1143.92,
          "text": "somebody"
        },
        {
          "start": 1143.92,
          "end": 1144.04,
          "text": "who"
        },
        {
          "start": 1144.12,
          "end": 1144.28,
          "text": "worked"
        },
        {
          "start": 1144.32,
          "end": 1144.36,
          "text": "in"
        },
        {
          "start": 1144.4,
          "end": 1144.56,
          "text": "fund"
        },
        {
          "start": 1144.6,
          "end": 1144.64,
          "text": "of"
        },
        {
          "start": 1144.68,
          "end": 1145.04,
          "text": "funds,"
        },
        {
          "start": 1145.12,
          "end": 1145.24,
          "text": "one"
        },
        {
          "start": 1145.24,
          "end": 1145.28,
          "text": "of"
        },
        {
          "start": 1145.32,
          "end": 1145.4,
          "text": "the"
        },
        {
          "start": 1145.4,
          "end": 1145.68,
          "text": "issues"
        },
        {
          "start": 1145.72,
          "end": 1145.76,
          "text": "of"
        },
        {
          "start": 1145.76,
          "end": 1145.96,
          "text": "fund"
        },
        {
          "start": 1145.96,
          "end": 1146.04,
          "text": "of"
        },
        {
          "start": 1146.04,
          "end": 1146.32,
          "text": "funds"
        },
        {
          "start": 1146.36,
          "end": 1146.44,
          "text": "is"
        },
        {
          "start": 1146.48,
          "end": 1146.56,
          "text": "just"
        },
        {
          "start": 1146.6,
          "end": 1146.72,
          "text": "that"
        },
        {
          "start": 1146.76,
          "end": 1146.84,
          "text": "you"
        },
        {
          "start": 1146.88,
          "end": 1147.04,
          "text": "had"
        },
        {
          "start": 1147.04,
          "end": 1147.52,
          "text": "fantastic"
        },
        {
          "start": 1147.52,
          "end": 1147.8,
          "text": "sharp"
        },
        {
          "start": 1147.88,
          "end": 1148.36,
          "text": "ratios,"
        },
        {
          "start": 1148.44,
          "end": 1148.56,
          "text": "but"
        },
        {
          "start": 1148.6,
          "end": 1148.64,
          "text": "the"
        },
        {
          "start": 1148.72,
          "end": 1149.08,
          "text": "returns"
        },
        {
          "start": 1149.08,
          "end": 1149.2,
          "text": "were"
        },
        {
          "start": 1149.2,
          "end": 1149.4,
          "text": "low."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 1150.88,
          "end": 1151.04,
          "text": "That's"
        },
        {
          "start": 1151.08,
          "end": 1151.16,
          "text": "a"
        },
        {
          "start": 1151.2,
          "end": 1151.44,
          "text": "really"
        },
        {
          "start": 1151.44,
          "end": 1151.88,
          "text": "important"
        },
        {
          "start": 1151.92,
          "end": 1152.28,
          "text": "point."
        },
        {
          "start": 1152.64,
          "end": 1152.8,
          "text": "One"
        },
        {
          "start": 1152.8,
          "end": 1153.0,
          "text": "other"
        },
        {
          "start": 1153.04,
          "end": 1153.16,
          "text": "thing"
        },
        {
          "start": 1153.2,
          "end": 1153.28,
          "text": "I"
        },
        {
          "start": 1153.28,
          "end": 1153.52,
          "text": "wanted"
        },
        {
          "start": 1153.52,
          "end": 1153.6,
          "text": "to"
        },
        {
          "start": 1153.6,
          "end": 1153.8,
          "text": "ask"
        },
        {
          "start": 1153.96,
          "end": 1154.04,
          "text": "just"
        },
        {
          "start": 1154.08,
          "end": 1154.24,
          "text": "on"
        },
        {
          "start": 1154.52,
          "end": 1154.6,
          "text": "the"
        },
        {
          "start": 1154.84,
          "end": 1155.16,
          "text": "why"
        },
        {
          "start": 1155.2,
          "end": 1156.08,
          "text": "allocators"
        },
        {
          "start": 1156.24,
          "end": 1156.4,
          "text": "are"
        },
        {
          "start": 1156.48,
          "end": 1157.04,
          "text": "interested"
        },
        {
          "start": 1157.16,
          "end": 1157.24,
          "text": "in"
        },
        {
          "start": 1157.32,
          "end": 1157.6,
          "text": "multi"
        },
        {
          "start": 1157.64,
          "end": 1158.04,
          "text": "strats."
        },
        {
          "start": 1158.12,
          "end": 1158.4,
          "text": "Point"
        },
        {
          "start": 1158.68,
          "end": 1158.88,
          "text": "One"
        },
        {
          "start": 1158.92,
          "end": 1159.08,
          "text": "thing"
        },
        {
          "start": 1159.12,
          "end": 1159.24,
          "text": "you"
        },
        {
          "start": 1159.28,
          "end": 1159.76,
          "text": "sometimes"
        },
        {
          "start": 1159.76,
          "end": 1159.96,
          "text": "hear"
        },
        {
          "start": 1160.24,
          "end": 1160.32,
          "text": "is"
        },
        {
          "start": 1160.36,
          "end": 1160.52,
          "text": "that,"
        },
        {
          "start": 1160.56,
          "end": 1160.88,
          "text": "well,"
        },
        {
          "start": 1161.12,
          "end": 1161.88,
          "text": "multistrats"
        },
        {
          "start": 1161.96,
          "end": 1162.0,
          "text": "or"
        },
        {
          "start": 1162.04,
          "end": 1162.24,
          "text": "pod"
        },
        {
          "start": 1162.24,
          "end": 1162.6,
          "text": "shops"
        },
        {
          "start": 1162.64,
          "end": 1162.76,
          "text": "they"
        },
        {
          "start": 1162.76,
          "end": 1162.96,
          "text": "can"
        },
        {
          "start": 1163.52,
          "end": 1163.8,
          "text": "dip"
        },
        {
          "start": 1163.88,
          "end": 1164.0,
          "text": "in"
        },
        {
          "start": 1164.08,
          "end": 1164.2,
          "text": "and"
        },
        {
          "start": 1164.24,
          "end": 1164.44,
          "text": "out"
        },
        {
          "start": 1164.48,
          "end": 1164.56,
          "text": "of"
        },
        {
          "start": 1164.6,
          "end": 1165.16,
          "text": "positions"
        },
        {
          "start": 1165.2,
          "end": 1165.44,
          "text": "really"
        },
        {
          "start": 1165.48,
          "end": 1165.76,
          "text": "really"
        },
        {
          "start": 1165.8,
          "end": 1166.12,
          "text": "fast,"
        },
        {
          "start": 1166.4,
          "end": 1166.48,
          "text": "and"
        },
        {
          "start": 1166.52,
          "end": 1166.68,
          "text": "they"
        },
        {
          "start": 1166.68,
          "end": 1166.8,
          "text": "can"
        },
        {
          "start": 1166.84,
          "end": 1167.2,
          "text": "react"
        },
        {
          "start": 1167.2,
          "end": 1167.28,
          "text": "to"
        },
        {
          "start": 1167.32,
          "end": 1167.36,
          "text": "the"
        },
        {
          "start": 1167.4,
          "end": 1167.72,
          "text": "market"
        },
        {
          "start": 1167.8,
          "end": 1167.92,
          "text": "very"
        },
        {
          "start": 1168.0,
          "end": 1168.16,
          "text": "very"
        },
        {
          "start": 1168.2,
          "end": 1168.6,
          "text": "quickly."
        },
        {
          "start": 1169.12,
          "end": 1169.36,
          "text": "How"
        },
        {
          "start": 1169.4,
          "end": 1169.68,
          "text": "true"
        },
        {
          "start": 1169.76,
          "end": 1169.84,
          "text": "is"
        },
        {
          "start": 1169.88,
          "end": 1170.08,
          "text": "that?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1171.04,
          "end": 1171.16,
          "text": "So"
        },
        {
          "start": 1171.6,
          "end": 1171.84,
          "text": "let's"
        },
        {
          "start": 1171.88,
          "end": 1171.96,
          "text": "go"
        },
        {
          "start": 1172.08,
          "end": 1172.28,
          "text": "back"
        },
        {
          "start": 1172.32,
          "end": 1172.4,
          "text": "to"
        },
        {
          "start": 1172.56,
          "end": 1172.76,
          "text": "two"
        },
        {
          "start": 1172.76,
          "end": 1172.88,
          "text": "and"
        },
        {
          "start": 1172.92,
          "end": 1173.2,
          "text": "twenty"
        },
        {
          "start": 1173.2,
          "end": 1173.44,
          "text": "funds"
        },
        {
          "start": 1173.52,
          "end": 1173.72,
          "text": "versus"
        },
        {
          "start": 1173.76,
          "end": 1173.96,
          "text": "pod"
        },
        {
          "start": 1173.96,
          "end": 1174.24,
          "text": "shops,"
        },
        {
          "start": 1174.28,
          "end": 1174.52,
          "text": "because"
        },
        {
          "start": 1174.56,
          "end": 1174.76,
          "text": "it's"
        },
        {
          "start": 1174.92,
          "end": 1175.88,
          "text": "differently."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1175.44,
          "end": 1175.72,
          "text": "True"
        },
        {
          "start": 1175.76,
          "end": 1175.8,
          "text": "for"
        },
        {
          "start": 1175.92,
          "end": 1176.16,
          "text": "both"
        },
        {
          "start": 1176.2,
          "end": 1176.28,
          "text": "of"
        },
        {
          "start": 1176.28,
          "end": 1176.52,
          "text": "them."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1176.88,
          "end": 1177.08,
          "text": "Let's"
        },
        {
          "start": 1177.08,
          "end": 1177.2,
          "text": "talk"
        },
        {
          "start": 1177.2,
          "end": 1177.44,
          "text": "about"
        },
        {
          "start": 1177.44,
          "end": 1177.6,
          "text": "pod"
        },
        {
          "start": 1177.6,
          "end": 1177.92,
          "text": "shops"
        },
        {
          "start": 1177.96,
          "end": 1178.2,
          "text": "first,"
        },
        {
          "start": 1178.52,
          "end": 1178.8,
          "text": "right"
        },
        {
          "start": 1179.44,
          "end": 1179.48,
          "text": "in"
        },
        {
          "start": 1179.56,
          "end": 1179.6,
          "text": "the"
        },
        {
          "start": 1179.68,
          "end": 1179.84,
          "text": "kind"
        },
        {
          "start": 1179.84,
          "end": 1179.92,
          "text": "of"
        },
        {
          "start": 1179.92,
          "end": 1180.0,
          "text": "the"
        },
        {
          "start": 1180.0,
          "end": 1180.48,
          "text": "stylized"
        },
        {
          "start": 1180.52,
          "end": 1180.68,
          "text": "pod"
        },
        {
          "start": 1180.72,
          "end": 1180.96,
          "text": "shop,"
        },
        {
          "start": 1181.36,
          "end": 1181.44,
          "text": "you"
        },
        {
          "start": 1181.48,
          "end": 1181.6,
          "text": "get"
        },
        {
          "start": 1181.64,
          "end": 1181.68,
          "text": "to"
        },
        {
          "start": 1181.72,
          "end": 1181.92,
          "text": "set"
        },
        {
          "start": 1181.96,
          "end": 1182.04,
          "text": "up,"
        },
        {
          "start": 1182.08,
          "end": 1182.16,
          "text": "you"
        },
        {
          "start": 1182.16,
          "end": 1182.32,
          "text": "get"
        },
        {
          "start": 1182.36,
          "end": 1182.64,
          "text": "money,"
        },
        {
          "start": 1182.76,
          "end": 1182.84,
          "text": "you"
        },
        {
          "start": 1182.92,
          "end": 1183.08,
          "text": "ale,"
        },
        {
          "start": 1183.2,
          "end": 1183.24,
          "text": "you"
        },
        {
          "start": 1183.56,
          "end": 1183.96,
          "text": "invested"
        },
        {
          "start": 1183.96,
          "end": 1184.04,
          "text": "as"
        },
        {
          "start": 1184.04,
          "end": 1184.16,
          "text": "a"
        },
        {
          "start": 1184.16,
          "end": 1184.44,
          "text": "PM,"
        },
        {
          "start": 1184.52,
          "end": 1184.6,
          "text": "and"
        },
        {
          "start": 1184.64,
          "end": 1184.68,
          "text": "you"
        },
        {
          "start": 1184.72,
          "end": 1184.88,
          "text": "get"
        },
        {
          "start": 1184.88,
          "end": 1185.08,
          "text": "paid"
        },
        {
          "start": 1185.12,
          "end": 1185.2,
          "text": "on"
        },
        {
          "start": 1185.2,
          "end": 1185.36,
          "text": "that."
        },
        {
          "start": 1186.0,
          "end": 1186.12,
          "text": "If"
        },
        {
          "start": 1186.2,
          "end": 1186.28,
          "text": "you"
        },
        {
          "start": 1186.32,
          "end": 1186.56,
          "text": "get"
        },
        {
          "start": 1186.6,
          "end": 1187.04,
          "text": "cut,"
        },
        {
          "start": 1187.32,
          "end": 1187.44,
          "text": "if"
        },
        {
          "start": 1187.44,
          "end": 1187.56,
          "text": "your"
        },
        {
          "start": 1187.6,
          "end": 1187.88,
          "text": "capital"
        },
        {
          "start": 1187.92,
          "end": 1187.96,
          "text": "you"
        },
        {
          "start": 1187.96,
          "end": 1188.16,
          "text": "get"
        },
        {
          "start": 1188.16,
          "end": 1188.32,
          "text": "cut"
        },
        {
          "start": 1188.36,
          "end": 1188.96,
          "text": "substantially."
        },
        {
          "start": 1189.32,
          "end": 1189.56,
          "text": "Even"
        },
        {
          "start": 1189.6,
          "end": 1189.68,
          "text": "with"
        },
        {
          "start": 1189.72,
          "end": 1189.8,
          "text": "the"
        },
        {
          "start": 1189.8,
          "end": 1190.0,
          "text": "best"
        },
        {
          "start": 1190.0,
          "end": 1190.2,
          "text": "will"
        },
        {
          "start": 1190.2,
          "end": 1190.28,
          "text": "in"
        },
        {
          "start": 1190.28,
          "end": 1190.36,
          "text": "the"
        },
        {
          "start": 1190.36,
          "end": 1190.72,
          "text": "world"
        },
        {
          "start": 1190.92,
          "end": 1191.0,
          "text": "and"
        },
        {
          "start": 1191.04,
          "end": 1191.12,
          "text": "the"
        },
        {
          "start": 1191.12,
          "end": 1191.56,
          "text": "promises"
        },
        {
          "start": 1191.6,
          "end": 1191.72,
          "text": "from"
        },
        {
          "start": 1191.72,
          "end": 1192.0,
          "text": "above"
        },
        {
          "start": 1192.0,
          "end": 1192.2,
          "text": "saying"
        },
        {
          "start": 1192.2,
          "end": 1192.4,
          "text": "it'll"
        },
        {
          "start": 1192.44,
          "end": 1192.56,
          "text": "come"
        },
        {
          "start": 1192.56,
          "end": 1192.72,
          "text": "back"
        },
        {
          "start": 1192.76,
          "end": 1192.84,
          "text": "to"
        },
        {
          "start": 1192.84,
          "end": 1193.24,
          "text": "you,"
        },
        {
          "start": 1193.24,
          "end": 1193.4,
          "text": "your"
        },
        {
          "start": 1193.4,
          "end": 1193.6,
          "text": "pay"
        },
        {
          "start": 1193.6,
          "end": 1193.72,
          "text": "has"
        },
        {
          "start": 1193.76,
          "end": 1193.88,
          "text": "been"
        },
        {
          "start": 1193.92,
          "end": 1194.16,
          "text": "cut."
        },
        {
          "start": 1195.12,
          "end": 1195.28,
          "text": "And"
        },
        {
          "start": 1195.48,
          "end": 1195.6,
          "text": "I"
        },
        {
          "start": 1195.6,
          "end": 1195.72,
          "text": "mean"
        },
        {
          "start": 1195.8,
          "end": 1195.92,
          "text": "we're"
        },
        {
          "start": 1195.92,
          "end": 1196.0,
          "text": "all"
        },
        {
          "start": 1196.04,
          "end": 1196.56,
          "text": "professionals"
        },
        {
          "start": 1196.56,
          "end": 1196.76,
          "text": "here."
        },
        {
          "start": 1196.96,
          "end": 1197.12,
          "text": "If"
        },
        {
          "start": 1197.2,
          "end": 1197.36,
          "text": "your"
        },
        {
          "start": 1197.36,
          "end": 1197.56,
          "text": "pay"
        },
        {
          "start": 1197.6,
          "end": 1197.64,
          "text": "is"
        },
        {
          "start": 1197.68,
          "end": 1197.88,
          "text": "cut"
        },
        {
          "start": 1197.88,
          "end": 1198.0,
          "text": "by"
        },
        {
          "start": 1198.0,
          "end": 1198.28,
          "text": "fifty"
        },
        {
          "start": 1198.28,
          "end": 1198.6,
          "text": "percent,"
        },
        {
          "start": 1199.4,
          "end": 1199.6,
          "text": "your"
        },
        {
          "start": 1199.68,
          "end": 1200.0,
          "text": "updated"
        },
        {
          "start": 1200.08,
          "end": 1200.24,
          "text": "your"
        },
        {
          "start": 1200.24,
          "end": 1200.48,
          "text": "CV"
        },
        {
          "start": 1201.12,
          "end": 1201.2,
          "text": "and"
        },
        {
          "start": 1201.24,
          "end": 1201.44,
          "text": "you're"
        },
        {
          "start": 1201.56,
          "end": 1201.84,
          "text": "checking"
        },
        {
          "start": 1201.84,
          "end": 1201.88,
          "text": "the"
        },
        {
          "start": 1201.96,
          "end": 1202.12,
          "text": "job"
        },
        {
          "start": 1202.2,
          "end": 1202.48,
          "text": "market."
        },
        {
          "start": 1202.88,
          "end": 1203.24,
          "text": "Okay,"
        },
        {
          "start": 1203.64,
          "end": 1203.72,
          "text": "So"
        },
        {
          "start": 1203.88,
          "end": 1203.96,
          "text": "in"
        },
        {
          "start": 1204.0,
          "end": 1204.12,
          "text": "the"
        },
        {
          "start": 1204.12,
          "end": 1204.64,
          "text": "context"
        },
        {
          "start": 1204.64,
          "end": 1204.76,
          "text": "of"
        },
        {
          "start": 1204.84,
          "end": 1205.4,
          "text": "responding"
        },
        {
          "start": 1205.44,
          "end": 1205.52,
          "text": "to"
        },
        {
          "start": 1205.56,
          "end": 1206.16,
          "text": "opportunities"
        },
        {
          "start": 1206.16,
          "end": 1206.24,
          "text": "in"
        },
        {
          "start": 1206.24,
          "end": 1206.32,
          "text": "the"
        },
        {
          "start": 1206.36,
          "end": 1206.8,
          "text": "market,"
        },
        {
          "start": 1207.44,
          "end": 1207.68,
          "text": "it's"
        },
        {
          "start": 1207.8,
          "end": 1208.2,
          "text": "hard"
        },
        {
          "start": 1208.48,
          "end": 1208.56,
          "text": "to"
        },
        {
          "start": 1208.72,
          "end": 1208.96,
          "text": "move"
        },
        {
          "start": 1209.36,
          "end": 1209.52,
          "text": "too"
        },
        {
          "start": 1209.56,
          "end": 1209.72,
          "text": "much"
        },
        {
          "start": 1209.8,
          "end": 1209.96,
          "text": "too"
        },
        {
          "start": 1210.0,
          "end": 1210.32,
          "text": "quickly"
        },
        {
          "start": 1210.36,
          "end": 1210.44,
          "text": "in"
        },
        {
          "start": 1210.44,
          "end": 1210.52,
          "text": "the"
        },
        {
          "start": 1210.52,
          "end": 1210.92,
          "text": "context"
        },
        {
          "start": 1210.92,
          "end": 1211.0,
          "text": "of"
        },
        {
          "start": 1211.0,
          "end": 1211.04,
          "text": "a"
        },
        {
          "start": 1211.08,
          "end": 1211.28,
          "text": "pod"
        },
        {
          "start": 1211.28,
          "end": 1211.56,
          "text": "shop,"
        },
        {
          "start": 1212.4,
          "end": 1212.64,
          "text": "why"
        },
        {
          "start": 1212.8,
          "end": 1213.2,
          "text": "because"
        },
        {
          "start": 1213.28,
          "end": 1213.4,
          "text": "of"
        },
        {
          "start": 1213.44,
          "end": 1213.6,
          "text": "that"
        },
        {
          "start": 1213.72,
          "end": 1214.04,
          "text": "reason,"
        },
        {
          "start": 1214.12,
          "end": 1214.28,
          "text": "and"
        },
        {
          "start": 1214.32,
          "end": 1214.52,
          "text": "be"
        },
        {
          "start": 1214.52,
          "end": 1214.8,
          "text": "because"
        },
        {
          "start": 1214.84,
          "end": 1214.96,
          "text": "that"
        },
        {
          "start": 1215.0,
          "end": 1215.28,
          "text": "person"
        },
        {
          "start": 1215.32,
          "end": 1215.48,
          "text": "may"
        },
        {
          "start": 1215.48,
          "end": 1215.56,
          "text": "not"
        },
        {
          "start": 1215.6,
          "end": 1215.64,
          "text": "be"
        },
        {
          "start": 1215.76,
          "end": 1216.0,
          "text": "there"
        },
        {
          "start": 1216.08,
          "end": 1216.2,
          "text": "to"
        },
        {
          "start": 1216.24,
          "end": 1216.4,
          "text": "do"
        },
        {
          "start": 1216.6,
          "end": 1216.76,
          "text": "when"
        },
        {
          "start": 1216.76,
          "end": 1216.92,
          "text": "it's"
        },
        {
          "start": 1216.92,
          "end": 1217.0,
          "text": "an"
        },
        {
          "start": 1217.04,
          "end": 1217.56,
          "text": "opportunity"
        },
        {
          "start": 1217.6,
          "end": 1217.76,
          "text": "there."
        },
        {
          "start": 1217.8,
          "end": 1217.88,
          "text": "So"
        },
        {
          "start": 1217.92,
          "end": 1218.4,
          "text": "it's"
        },
        {
          "start": 1218.48,
          "end": 1218.64,
          "text": "kind"
        },
        {
          "start": 1218.64,
          "end": 1218.72,
          "text": "of"
        },
        {
          "start": 1218.8,
          "end": 1219.08,
          "text": "hard."
        },
        {
          "start": 1220.28,
          "end": 1220.44,
          "text": "They"
        },
        {
          "start": 1220.44,
          "end": 1220.64,
          "text": "do"
        },
        {
          "start": 1220.64,
          "end": 1220.72,
          "text": "do"
        },
        {
          "start": 1220.76,
          "end": 1220.88,
          "text": "it,"
        },
        {
          "start": 1220.88,
          "end": 1221.0,
          "text": "They"
        },
        {
          "start": 1221.0,
          "end": 1221.44,
          "text": "absolutely"
        },
        {
          "start": 1221.44,
          "end": 1221.56,
          "text": "do"
        },
        {
          "start": 1221.56,
          "end": 1221.64,
          "text": "do"
        },
        {
          "start": 1221.64,
          "end": 1221.72,
          "text": "it."
        },
        {
          "start": 1221.72,
          "end": 1221.84,
          "text": "They"
        },
        {
          "start": 1221.84,
          "end": 1221.96,
          "text": "will"
        },
        {
          "start": 1222.04,
          "end": 1222.2,
          "text": "lever"
        },
        {
          "start": 1222.28,
          "end": 1222.36,
          "text": "up"
        },
        {
          "start": 1222.4,
          "end": 1222.56,
          "text": "into"
        },
        {
          "start": 1222.64,
          "end": 1223.32,
          "text": "opportunity."
        },
        {
          "start": 1223.36,
          "end": 1223.44,
          "text": "But"
        },
        {
          "start": 1223.76,
          "end": 1223.96,
          "text": "when"
        },
        {
          "start": 1223.96,
          "end": 1224.04,
          "text": "you"
        },
        {
          "start": 1224.08,
          "end": 1224.24,
          "text": "think"
        },
        {
          "start": 1224.28,
          "end": 1224.56,
          "text": "about"
        },
        {
          "start": 1224.56,
          "end": 1224.68,
          "text": "what"
        },
        {
          "start": 1224.72,
          "end": 1225.16,
          "text": "people's"
        },
        {
          "start": 1225.32,
          "end": 1225.48,
          "text": "kind"
        },
        {
          "start": 1225.52,
          "end": 1225.6,
          "text": "of"
        },
        {
          "start": 1226.04,
          "end": 1226.44,
          "text": "perception"
        },
        {
          "start": 1226.52,
          "end": 1226.56,
          "text": "in"
        },
        {
          "start": 1226.6,
          "end": 1226.72,
          "text": "their"
        },
        {
          "start": 1226.72,
          "end": 1226.92,
          "text": "heads"
        },
        {
          "start": 1226.92,
          "end": 1227.0,
          "text": "of"
        },
        {
          "start": 1227.0,
          "end": 1227.12,
          "text": "what"
        },
        {
          "start": 1227.16,
          "end": 1227.24,
          "text": "it"
        },
        {
          "start": 1227.36,
          "end": 1227.44,
          "text": "is,"
        },
        {
          "start": 1227.76,
          "end": 1227.92,
          "text": "it's"
        },
        {
          "start": 1227.96,
          "end": 1228.48,
          "text": "completely"
        },
        {
          "start": 1228.8,
          "end": 1229.04,
          "text": "more"
        },
        {
          "start": 1229.04,
          "end": 1229.44,
          "text": "static"
        },
        {
          "start": 1229.44,
          "end": 1229.6,
          "text": "than"
        },
        {
          "start": 1229.6,
          "end": 1229.84,
          "text": "you'd"
        },
        {
          "start": 1229.84,
          "end": 1230.28,
          "text": "imagine."
        },
        {
          "start": 1230.84,
          "end": 1230.92,
          "text": "In"
        },
        {
          "start": 1230.96,
          "end": 1231.08,
          "text": "the"
        },
        {
          "start": 1231.08,
          "end": 1231.6,
          "text": "context"
        },
        {
          "start": 1231.68,
          "end": 1231.8,
          "text": "of"
        },
        {
          "start": 1231.88,
          "end": 1231.96,
          "text": "a"
        },
        {
          "start": 1232.04,
          "end": 1232.68,
          "text": "traditional"
        },
        {
          "start": 1233.08,
          "end": 1233.28,
          "text": "fee"
        },
        {
          "start": 1233.32,
          "end": 1233.76,
          "text": "structure,"
        },
        {
          "start": 1233.8,
          "end": 1233.88,
          "text": "the"
        },
        {
          "start": 1233.92,
          "end": 1234.04,
          "text": "two"
        },
        {
          "start": 1234.08,
          "end": 1234.2,
          "text": "and"
        },
        {
          "start": 1234.24,
          "end": 1234.56,
          "text": "twenty,"
        },
        {
          "start": 1234.84,
          "end": 1235.04,
          "text": "it's"
        },
        {
          "start": 1235.04,
          "end": 1235.4,
          "text": "different,"
        },
        {
          "start": 1235.88,
          "end": 1236.12,
          "text": "right,"
        },
        {
          "start": 1236.68,
          "end": 1237.16,
          "text": "everybody"
        },
        {
          "start": 1237.2,
          "end": 1237.24,
          "text": "is"
        },
        {
          "start": 1237.28,
          "end": 1238.04,
          "text": "incentivized"
        },
        {
          "start": 1238.04,
          "end": 1238.12,
          "text": "to"
        },
        {
          "start": 1238.16,
          "end": 1238.32,
          "text": "get"
        },
        {
          "start": 1238.4,
          "end": 1238.48,
          "text": "the"
        },
        {
          "start": 1238.52,
          "end": 1238.76,
          "text": "top"
        },
        {
          "start": 1238.8,
          "end": 1239.12,
          "text": "line"
        },
        {
          "start": 1239.24,
          "end": 1239.32,
          "text": "to"
        },
        {
          "start": 1239.4,
          "end": 1239.48,
          "text": "be"
        },
        {
          "start": 1239.48,
          "end": 1239.56,
          "text": "the"
        },
        {
          "start": 1239.64,
          "end": 1240.04,
          "text": "highest"
        },
        {
          "start": 1240.12,
          "end": 1240.4,
          "text": "number"
        },
        {
          "start": 1240.44,
          "end": 1240.52,
          "text": "it"
        },
        {
          "start": 1240.56,
          "end": 1240.8,
          "text": "can"
        },
        {
          "start": 1240.84,
          "end": 1240.92,
          "text": "be."
        },
        {
          "start": 1241.48,
          "end": 1241.64,
          "text": "And"
        },
        {
          "start": 1241.72,
          "end": 1241.8,
          "text": "so"
        },
        {
          "start": 1241.92,
          "end": 1242.04,
          "text": "if"
        },
        {
          "start": 1242.08,
          "end": 1242.24,
          "text": "I'm"
        },
        {
          "start": 1242.28,
          "end": 1242.36,
          "text": "a"
        },
        {
          "start": 1242.36,
          "end": 1242.72,
          "text": "convert"
        },
        {
          "start": 1242.76,
          "end": 1243.12,
          "text": "manager"
        },
        {
          "start": 1243.12,
          "end": 1243.2,
          "text": "and"
        },
        {
          "start": 1243.2,
          "end": 1243.32,
          "text": "your"
        },
        {
          "start": 1243.4,
          "end": 1243.72,
          "text": "merger"
        },
        {
          "start": 1243.8,
          "end": 1244.08,
          "text": "art"
        },
        {
          "start": 1244.08,
          "end": 1244.52,
          "text": "manager,"
        },
        {
          "start": 1245.08,
          "end": 1245.28,
          "text": "I'm"
        },
        {
          "start": 1245.28,
          "end": 1245.56,
          "text": "cool"
        },
        {
          "start": 1246.12,
          "end": 1246.2,
          "text": "with"
        },
        {
          "start": 1246.28,
          "end": 1246.48,
          "text": "being"
        },
        {
          "start": 1246.64,
          "end": 1246.72,
          "text": "my"
        },
        {
          "start": 1246.76,
          "end": 1247.04,
          "text": "capital"
        },
        {
          "start": 1247.12,
          "end": 1247.2,
          "text": "be"
        },
        {
          "start": 1247.2,
          "end": 1247.4,
          "text": "given"
        },
        {
          "start": 1247.44,
          "end": 1247.6,
          "text": "away."
        },
        {
          "start": 1247.6,
          "end": 1247.64,
          "text": "I"
        },
        {
          "start": 1247.64,
          "end": 1247.92,
          "text": "assume"
        },
        {
          "start": 1247.96,
          "end": 1248.04,
          "text": "I"
        },
        {
          "start": 1248.04,
          "end": 1248.16,
          "text": "get"
        },
        {
          "start": 1248.2,
          "end": 1248.28,
          "text": "it"
        },
        {
          "start": 1248.28,
          "end": 1248.44,
          "text": "back"
        },
        {
          "start": 1248.44,
          "end": 1249.28,
          "text": "eventually."
        },
        {
          "start": 1249.36,
          "end": 1249.44,
          "text": "But"
        },
        {
          "start": 1249.48,
          "end": 1249.64,
          "text": "if"
        },
        {
          "start": 1249.64,
          "end": 1249.76,
          "text": "it"
        },
        {
          "start": 1249.8,
          "end": 1250.0,
          "text": "makes"
        },
        {
          "start": 1250.0,
          "end": 1250.08,
          "text": "the"
        },
        {
          "start": 1250.16,
          "end": 1250.52,
          "text": "overall"
        },
        {
          "start": 1250.56,
          "end": 1250.8,
          "text": "proibly"
        },
        {
          "start": 1250.88,
          "end": 1251.28,
          "text": "larger,"
        },
        {
          "start": 1251.72,
          "end": 1251.76,
          "text": "I"
        },
        {
          "start": 1251.8,
          "end": 1251.92,
          "text": "can"
        },
        {
          "start": 1251.96,
          "end": 1252.32,
          "text": "benefit"
        },
        {
          "start": 1252.32,
          "end": 1252.4,
          "text": "in"
        },
        {
          "start": 1252.44,
          "end": 1252.48,
          "text": "the"
        },
        {
          "start": 1252.52,
          "end": 1252.64,
          "text": "long"
        },
        {
          "start": 1252.68,
          "end": 1252.88,
          "text": "run"
        },
        {
          "start": 1252.92,
          "end": 1253.04,
          "text": "too."
        },
        {
          "start": 1253.72,
          "end": 1253.88,
          "text": "So"
        },
        {
          "start": 1254.08,
          "end": 1254.68,
          "text": "the"
        },
        {
          "start": 1254.72,
          "end": 1255.28,
          "text": "ability"
        },
        {
          "start": 1255.32,
          "end": 1255.4,
          "text": "and"
        },
        {
          "start": 1255.44,
          "end": 1255.52,
          "text": "then"
        },
        {
          "start": 1255.6,
          "end": 1255.76,
          "text": "quite"
        },
        {
          "start": 1255.8,
          "end": 1256.12,
          "text": "frankly,"
        },
        {
          "start": 1256.12,
          "end": 1256.2,
          "text": "the"
        },
        {
          "start": 1256.24,
          "end": 1256.96,
          "text": "willingness"
        },
        {
          "start": 1257.04,
          "end": 1257.12,
          "text": "to"
        },
        {
          "start": 1257.28,
          "end": 1257.52,
          "text": "move"
        },
        {
          "start": 1257.6,
          "end": 1258.04,
          "text": "capital"
        },
        {
          "start": 1258.08,
          "end": 1258.16,
          "text": "in"
        },
        {
          "start": 1258.24,
          "end": 1258.6,
          "text": "size"
        },
        {
          "start": 1259.12,
          "end": 1259.56,
          "text": "around"
        },
        {
          "start": 1259.76,
          "end": 1259.8,
          "text": "it"
        },
        {
          "start": 1260.12,
          "end": 1260.2,
          "text": "is"
        },
        {
          "start": 1260.28,
          "end": 1260.64,
          "text": "really"
        },
        {
          "start": 1262.12,
          "end": 1262.32,
          "text": "that's"
        },
        {
          "start": 1262.36,
          "end": 1262.56,
          "text": "where"
        },
        {
          "start": 1262.6,
          "end": 1262.8,
          "text": "camp"
        },
        {
          "start": 1262.88,
          "end": 1263.12,
          "text": "comes"
        },
        {
          "start": 1263.12,
          "end": 1263.24,
          "text": "in."
        },
        {
          "start": 1263.32,
          "end": 1263.48,
          "text": "Camp"
        },
        {
          "start": 1263.52,
          "end": 1263.6,
          "text": "has"
        },
        {
          "start": 1263.68,
          "end": 1263.8,
          "text": "now"
        },
        {
          "start": 1263.88,
          "end": 1264.04,
          "text": "led"
        },
        {
          "start": 1264.08,
          "end": 1264.2,
          "text": "us"
        },
        {
          "start": 1264.2,
          "end": 1264.28,
          "text": "to"
        },
        {
          "start": 1264.32,
          "end": 1264.36,
          "text": "the"
        },
        {
          "start": 1264.4,
          "end": 1264.8,
          "text": "situation"
        },
        {
          "start": 1264.84,
          "end": 1265.04,
          "text": "where"
        },
        {
          "start": 1265.04,
          "end": 1265.2,
          "text": "it's"
        },
        {
          "start": 1265.2,
          "end": 1265.44,
          "text": "hard"
        },
        {
          "start": 1265.44,
          "end": 1265.52,
          "text": "to"
        },
        {
          "start": 1265.52,
          "end": 1265.72,
          "text": "move"
        },
        {
          "start": 1265.72,
          "end": 1266.12,
          "text": "capital"
        },
        {
          "start": 1266.8,
          "end": 1267.04,
          "text": "right,"
        },
        {
          "start": 1267.12,
          "end": 1267.24,
          "text": "and"
        },
        {
          "start": 1267.28,
          "end": 1267.36,
          "text": "you"
        },
        {
          "start": 1267.36,
          "end": 1267.52,
          "text": "think"
        },
        {
          "start": 1267.52,
          "end": 1267.76,
          "text": "about,"
        },
        {
          "start": 1267.84,
          "end": 1267.92,
          "text": "like"
        },
        {
          "start": 1268.0,
          "end": 1268.08,
          "text": "we"
        },
        {
          "start": 1268.08,
          "end": 1268.28,
          "text": "talked"
        },
        {
          "start": 1268.28,
          "end": 1268.48,
          "text": "about"
        },
        {
          "start": 1268.48,
          "end": 1268.52,
          "text": "it,"
        },
        {
          "start": 1268.72,
          "end": 1268.84,
          "text": "kind"
        },
        {
          "start": 1268.88,
          "end": 1268.96,
          "text": "of"
        },
        {
          "start": 1269.0,
          "end": 1269.08,
          "text": "the"
        },
        {
          "start": 1269.08,
          "end": 1269.28,
          "text": "theme"
        },
        {
          "start": 1269.28,
          "end": 1269.32,
          "text": "of"
        },
        {
          "start": 1269.4,
          "end": 1269.48,
          "text": "this"
        },
        {
          "start": 1269.56,
          "end": 1269.64,
          "text": "for"
        },
        {
          "start": 1269.68,
          "end": 1269.8,
          "text": "me"
        },
        {
          "start": 1269.92,
          "end": 1269.96,
          "text": "is"
        },
        {
          "start": 1270.56,
          "end": 1270.8,
          "text": "comp"
        },
        {
          "start": 1270.84,
          "end": 1271.0,
          "text": "kind"
        },
        {
          "start": 1271.0,
          "end": 1271.04,
          "text": "of"
        },
        {
          "start": 1271.08,
          "end": 1271.36,
          "text": "drives"
        },
        {
          "start": 1271.4,
          "end": 1271.72,
          "text": "everything."
        },
        {
          "start": 1271.72,
          "end": 1271.84,
          "text": "How"
        },
        {
          "start": 1271.88,
          "end": 1271.96,
          "text": "you"
        },
        {
          "start": 1271.96,
          "end": 1272.36,
          "text": "structure"
        },
        {
          "start": 1272.4,
          "end": 1272.56,
          "text": "your"
        },
        {
          "start": 1272.56,
          "end": 1272.8,
          "text": "camp"
        },
        {
          "start": 1273.08,
          "end": 1273.2,
          "text": "is"
        },
        {
          "start": 1273.24,
          "end": 1273.44,
          "text": "one"
        },
        {
          "start": 1273.44,
          "end": 1273.52,
          "text": "of"
        },
        {
          "start": 1273.56,
          "end": 1273.64,
          "text": "the"
        },
        {
          "start": 1273.64,
          "end": 1274.16,
          "text": "principal"
        },
        {
          "start": 1274.84,
          "end": 1275.28,
          "text": "underlying"
        },
        {
          "start": 1275.32,
          "end": 1275.76,
          "text": "features"
        },
        {
          "start": 1275.84,
          "end": 1275.88,
          "text": "or"
        },
        {
          "start": 1275.92,
          "end": 1275.96,
          "text": "a"
        },
        {
          "start": 1276.04,
          "end": 1276.16,
          "text": "and"
        },
        {
          "start": 1276.2,
          "end": 1276.32,
          "text": "how"
        },
        {
          "start": 1276.4,
          "end": 1276.68,
          "text": "multi"
        },
        {
          "start": 1276.68,
          "end": 1277.16,
          "text": "strategies"
        },
        {
          "start": 1277.2,
          "end": 1277.4,
          "text": "work."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1278.0,
          "end": 1278.08,
          "text": "I"
        },
        {
          "start": 1278.12,
          "end": 1278.28,
          "text": "think"
        },
        {
          "start": 1278.32,
          "end": 1278.4,
          "text": "this"
        },
        {
          "start": 1278.52,
          "end": 1278.64,
          "text": "is"
        },
        {
          "start": 1278.68,
          "end": 1278.88,
          "text": "such"
        },
        {
          "start": 1278.88,
          "end": 1279.2,
          "text": "an"
        },
        {
          "start": 1279.32,
          "end": 1279.88,
          "text": "important"
        },
        {
          "start": 1280.04,
          "end": 1280.36,
          "text": "point"
        },
        {
          "start": 1280.44,
          "end": 1280.76,
          "text": "because"
        },
        {
          "start": 1280.8,
          "end": 1281.08,
          "text": "again"
        },
        {
          "start": 1281.16,
          "end": 1281.28,
          "text": "I"
        },
        {
          "start": 1281.32,
          "end": 1281.56,
          "text": "think,"
        },
        {
          "start": 1281.68,
          "end": 1281.76,
          "text": "like"
        },
        {
          "start": 1282.4,
          "end": 1282.72,
          "text": "comp"
        },
        {
          "start": 1282.76,
          "end": 1283.32,
          "text": "structure."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 1283.88,
          "end": 1284.0,
          "text": "You"
        },
        {
          "start": 1284.08,
          "end": 1284.24,
          "text": "hear"
        },
        {
          "start": 1284.28,
          "end": 1284.56,
          "text": "about"
        },
        {
          "start": 1284.56,
          "end": 1284.68,
          "text": "it"
        },
        {
          "start": 1284.72,
          "end": 1284.8,
          "text": "like"
        },
        {
          "start": 1284.84,
          "end": 1285.16,
          "text": "people"
        },
        {
          "start": 1285.2,
          "end": 1285.52,
          "text": "love."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1285.4,
          "end": 1285.68,
          "text": "Reading"
        },
        {
          "start": 1285.72,
          "end": 1286.08,
          "text": "stories"
        },
        {
          "start": 1286.12,
          "end": 1286.36,
          "text": "about"
        },
        {
          "start": 1286.4,
          "end": 1287.0,
          "text": "bonuses,"
        },
        {
          "start": 1287.6,
          "end": 1287.76,
          "text": "et"
        },
        {
          "start": 1287.84,
          "end": 1288.16,
          "text": "cetera."
        },
        {
          "start": 1288.32,
          "end": 1288.44,
          "text": "And"
        },
        {
          "start": 1288.48,
          "end": 1288.8,
          "text": "people"
        },
        {
          "start": 1288.84,
          "end": 1289.04,
          "text": "love"
        },
        {
          "start": 1289.32,
          "end": 1289.64,
          "text": "reading"
        },
        {
          "start": 1289.68,
          "end": 1289.96,
          "text": "stories"
        },
        {
          "start": 1290.0,
          "end": 1290.2,
          "text": "about"
        },
        {
          "start": 1290.24,
          "end": 1290.52,
          "text": "people"
        },
        {
          "start": 1290.52,
          "end": 1290.84,
          "text": "getting"
        },
        {
          "start": 1290.88,
          "end": 1291.2,
          "text": "paid"
        },
        {
          "start": 1291.4,
          "end": 1291.48,
          "text": "a"
        },
        {
          "start": 1291.48,
          "end": 1291.68,
          "text": "lot"
        },
        {
          "start": 1291.68,
          "end": 1291.76,
          "text": "of"
        },
        {
          "start": 1291.84,
          "end": 1292.16,
          "text": "money,"
        },
        {
          "start": 1292.28,
          "end": 1292.4,
          "text": "or"
        },
        {
          "start": 1292.6,
          "end": 1292.88,
          "text": "maybe"
        },
        {
          "start": 1292.88,
          "end": 1292.96,
          "text": "they"
        },
        {
          "start": 1293.04,
          "end": 1293.28,
          "text": "hate"
        },
        {
          "start": 1293.32,
          "end": 1293.56,
          "text": "read"
        },
        {
          "start": 1293.84,
          "end": 1294.0,
          "text": "these"
        },
        {
          "start": 1294.04,
          "end": 1294.36,
          "text": "stories"
        },
        {
          "start": 1294.4,
          "end": 1294.6,
          "text": "about"
        },
        {
          "start": 1294.64,
          "end": 1294.88,
          "text": "people"
        },
        {
          "start": 1294.92,
          "end": 1295.08,
          "text": "love"
        },
        {
          "start": 1295.16,
          "end": 1295.44,
          "text": "getting"
        },
        {
          "start": 1295.48,
          "end": 1295.68,
          "text": "mayde"
        },
        {
          "start": 1295.92,
          "end": 1296.0,
          "text": "but"
        },
        {
          "start": 1296.08,
          "end": 1296.16,
          "text": "this"
        },
        {
          "start": 1296.28,
          "end": 1296.6,
          "text": "idea"
        },
        {
          "start": 1296.64,
          "end": 1296.72,
          "text": "that"
        },
        {
          "start": 1297.04,
          "end": 1297.12,
          "text": "no,"
        },
        {
          "start": 1297.28,
          "end": 1297.36,
          "text": "this"
        },
        {
          "start": 1297.64,
          "end": 1297.72,
          "text": "is"
        },
        {
          "start": 1297.76,
          "end": 1297.88,
          "text": "the"
        },
        {
          "start": 1297.92,
          "end": 1298.36,
          "text": "business"
        },
        {
          "start": 1298.6,
          "end": 1298.68,
          "text": "you"
        },
        {
          "start": 1298.72,
          "end": 1298.8,
          "text": "know"
        },
        {
          "start": 1298.84,
          "end": 1299.16,
          "text": "people."
        },
        {
          "start": 1299.2,
          "end": 1299.28,
          "text": "I"
        },
        {
          "start": 1299.28,
          "end": 1299.44,
          "text": "think"
        },
        {
          "start": 1299.48,
          "end": 1299.64,
          "text": "when"
        },
        {
          "start": 1299.64,
          "end": 1299.92,
          "text": "people"
        },
        {
          "start": 1299.96,
          "end": 1300.08,
          "text": "hear"
        },
        {
          "start": 1300.12,
          "end": 1300.56,
          "text": "bonuses,"
        },
        {
          "start": 1300.56,
          "end": 1300.76,
          "text": "they're"
        },
        {
          "start": 1300.76,
          "end": 1300.84,
          "text": "like,"
        },
        {
          "start": 1300.84,
          "end": 1300.96,
          "text": "oh,"
        },
        {
          "start": 1300.96,
          "end": 1301.04,
          "text": "you"
        },
        {
          "start": 1301.04,
          "end": 1301.2,
          "text": "get"
        },
        {
          "start": 1301.24,
          "end": 1301.32,
          "text": "some"
        },
        {
          "start": 1301.32,
          "end": 1301.52,
          "text": "extra"
        },
        {
          "start": 1301.56,
          "end": 1301.76,
          "text": "money."
        },
        {
          "start": 1301.8,
          "end": 1301.88,
          "text": "But"
        },
        {
          "start": 1301.96,
          "end": 1302.04,
          "text": "the"
        },
        {
          "start": 1302.08,
          "end": 1302.52,
          "text": "business"
        },
        {
          "start": 1302.64,
          "end": 1302.72,
          "text": "is"
        },
        {
          "start": 1302.84,
          "end": 1303.2,
          "text": "design."
        },
        {
          "start": 1303.28,
          "end": 1303.32,
          "text": "I"
        },
        {
          "start": 1303.32,
          "end": 1303.48,
          "text": "mean,"
        },
        {
          "start": 1303.6,
          "end": 1303.68,
          "text": "to"
        },
        {
          "start": 1303.76,
          "end": 1303.92,
          "text": "hear"
        },
        {
          "start": 1304.0,
          "end": 1304.08,
          "text": "you"
        },
        {
          "start": 1304.12,
          "end": 1304.56,
          "text": "describe"
        },
        {
          "start": 1304.6,
          "end": 1305.16,
          "text": "it."
        },
        {
          "start": 1305.24,
          "end": 1305.36,
          "text": "The"
        },
        {
          "start": 1305.44,
          "end": 1305.88,
          "text": "business"
        },
        {
          "start": 1306.08,
          "end": 1306.2,
          "text": "is"
        },
        {
          "start": 1306.24,
          "end": 1306.36,
          "text": "the"
        },
        {
          "start": 1306.4,
          "end": 1306.76,
          "text": "design"
        },
        {
          "start": 1306.84,
          "end": 1306.92,
          "text": "of"
        },
        {
          "start": 1306.96,
          "end": 1307.04,
          "text": "the"
        },
        {
          "start": 1307.08,
          "end": 1307.6,
          "text": "bonus."
        },
        {
          "start": 1307.64,
          "end": 1307.72,
          "text": "The"
        },
        {
          "start": 1307.76,
          "end": 1308.2,
          "text": "business"
        },
        {
          "start": 1308.24,
          "end": 1308.36,
          "text": "is"
        },
        {
          "start": 1308.4,
          "end": 1308.52,
          "text": "the"
        },
        {
          "start": 1308.52,
          "end": 1308.88,
          "text": "design"
        },
        {
          "start": 1308.96,
          "end": 1309.04,
          "text": "of"
        },
        {
          "start": 1309.08,
          "end": 1309.16,
          "text": "the"
        },
        {
          "start": 1309.2,
          "end": 1309.76,
          "text": "comp."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1310.0,
          "end": 1310.08,
          "text": "It"
        },
        {
          "start": 1310.16,
          "end": 1310.36,
          "text": "kind"
        },
        {
          "start": 1310.36,
          "end": 1310.44,
          "text": "of"
        },
        {
          "start": 1310.56,
          "end": 1310.68,
          "text": "is"
        },
        {
          "start": 1310.84,
          "end": 1310.92,
          "text": "you"
        },
        {
          "start": 1310.96,
          "end": 1311.08,
          "text": "know,"
        },
        {
          "start": 1311.32,
          "end": 1311.44,
          "text": "it"
        },
        {
          "start": 1311.52,
          "end": 1311.92,
          "text": "drives"
        },
        {
          "start": 1311.96,
          "end": 1312.04,
          "text": "so"
        },
        {
          "start": 1312.16,
          "end": 1312.36,
          "text": "much"
        },
        {
          "start": 1312.44,
          "end": 1312.56,
          "text": "if"
        },
        {
          "start": 1312.6,
          "end": 1312.68,
          "text": "you"
        },
        {
          "start": 1312.8,
          "end": 1312.88,
          "text": "just"
        },
        {
          "start": 1312.92,
          "end": 1313.08,
          "text": "think"
        },
        {
          "start": 1313.12,
          "end": 1313.36,
          "text": "about,"
        },
        {
          "start": 1313.44,
          "end": 1313.52,
          "text": "like"
        },
        {
          "start": 1313.56,
          "end": 1313.64,
          "text": "we"
        },
        {
          "start": 1313.68,
          "end": 1313.92,
          "text": "talked"
        },
        {
          "start": 1313.92,
          "end": 1314.12,
          "text": "about,"
        },
        {
          "start": 1314.16,
          "end": 1314.32,
          "text": "how"
        },
        {
          "start": 1314.32,
          "end": 1314.36,
          "text": "a"
        },
        {
          "start": 1314.44,
          "end": 1314.76,
          "text": "capital"
        },
        {
          "start": 1314.8,
          "end": 1315.28,
          "text": "allocation"
        },
        {
          "start": 1315.96,
          "end": 1316.08,
          "text": "is"
        },
        {
          "start": 1316.32,
          "end": 1316.84,
          "text": "basically"
        },
        {
          "start": 1317.36,
          "end": 1317.64,
          "text": "held"
        },
        {
          "start": 1317.64,
          "end": 1317.92,
          "text": "back"
        },
        {
          "start": 1318.12,
          "end": 1318.2,
          "text": "or"
        },
        {
          "start": 1318.36,
          "end": 1318.44,
          "text": "you"
        },
        {
          "start": 1318.44,
          "end": 1318.52,
          "text": "know,"
        },
        {
          "start": 1318.56,
          "end": 1318.72,
          "text": "you're"
        },
        {
          "start": 1318.76,
          "end": 1318.84,
          "text": "the"
        },
        {
          "start": 1318.84,
          "end": 1319.0,
          "text": "way"
        },
        {
          "start": 1319.0,
          "end": 1319.08,
          "text": "you"
        },
        {
          "start": 1319.08,
          "end": 1319.2,
          "text": "can"
        },
        {
          "start": 1319.24,
          "end": 1319.32,
          "text": "do"
        },
        {
          "start": 1319.36,
          "end": 1319.44,
          "text": "it"
        },
        {
          "start": 1319.52,
          "end": 1319.56,
          "text": "is"
        },
        {
          "start": 1319.64,
          "end": 1319.88,
          "text": "changed"
        },
        {
          "start": 1319.88,
          "end": 1319.96,
          "text": "by"
        },
        {
          "start": 1320.04,
          "end": 1320.12,
          "text": "how"
        },
        {
          "start": 1320.16,
          "end": 1320.24,
          "text": "you"
        },
        {
          "start": 1320.28,
          "end": 1320.68,
          "text": "compensate"
        },
        {
          "start": 1320.72,
          "end": 1321.04,
          "text": "people,"
        },
        {
          "start": 1321.36,
          "end": 1321.44,
          "text": "you"
        },
        {
          "start": 1321.48,
          "end": 1321.56,
          "text": "know,"
        },
        {
          "start": 1321.88,
          "end": 1321.96,
          "text": "or"
        },
        {
          "start": 1322.0,
          "end": 1322.44,
          "text": "constrained"
        },
        {
          "start": 1322.48,
          "end": 1322.52,
          "text": "is"
        },
        {
          "start": 1322.56,
          "end": 1322.64,
          "text": "the"
        },
        {
          "start": 1322.64,
          "end": 1322.84,
          "text": "better"
        },
        {
          "start": 1322.88,
          "end": 1323.08,
          "text": "world."
        },
        {
          "start": 1323.56,
          "end": 1323.76,
          "text": "There's"
        },
        {
          "start": 1323.8,
          "end": 1324.0,
          "text": "other"
        },
        {
          "start": 1324.04,
          "end": 1324.36,
          "text": "things"
        },
        {
          "start": 1324.4,
          "end": 1324.48,
          "text": "like"
        },
        {
          "start": 1324.56,
          "end": 1324.64,
          "text": "I"
        },
        {
          "start": 1324.68,
          "end": 1324.84,
          "text": "mean"
        },
        {
          "start": 1325.04,
          "end": 1325.16,
          "text": "you"
        },
        {
          "start": 1325.2,
          "end": 1325.4,
          "text": "think"
        },
        {
          "start": 1325.44,
          "end": 1325.76,
          "text": "about"
        },
        {
          "start": 1326.44,
          "end": 1326.56,
          "text": "in"
        },
        {
          "start": 1326.6,
          "end": 1326.68,
          "text": "the"
        },
        {
          "start": 1326.72,
          "end": 1327.24,
          "text": "context"
        },
        {
          "start": 1327.28,
          "end": 1327.32,
          "text": "I"
        },
        {
          "start": 1327.4,
          "end": 1327.6,
          "text": "going"
        },
        {
          "start": 1327.64,
          "end": 1327.84,
          "text": "back"
        },
        {
          "start": 1327.88,
          "end": 1327.96,
          "text": "to"
        },
        {
          "start": 1328.12,
          "end": 1328.2,
          "text": "like"
        },
        {
          "start": 1328.36,
          "end": 1328.44,
          "text": "the"
        },
        {
          "start": 1328.6,
          "end": 1328.88,
          "text": "story"
        },
        {
          "start": 1328.88,
          "end": 1329.08,
          "text": "about"
        },
        {
          "start": 1329.08,
          "end": 1329.12,
          "text": "the"
        },
        {
          "start": 1329.16,
          "end": 1329.4,
          "text": "single"
        },
        {
          "start": 1329.4,
          "end": 1329.72,
          "text": "strategy"
        },
        {
          "start": 1329.76,
          "end": 1329.96,
          "text": "hedge"
        },
        {
          "start": 1329.96,
          "end": 1330.28,
          "text": "funds,"
        },
        {
          "start": 1330.52,
          "end": 1330.6,
          "text": "you"
        },
        {
          "start": 1330.68,
          "end": 1330.92,
          "text": "also"
        },
        {
          "start": 1330.92,
          "end": 1331.0,
          "text": "have"
        },
        {
          "start": 1331.04,
          "end": 1331.12,
          "text": "the"
        },
        {
          "start": 1331.44,
          "end": 1331.84,
          "text": "similar"
        },
        {
          "start": 1331.88,
          "end": 1332.32,
          "text": "problems."
        },
        {
          "start": 1332.52,
          "end": 1332.92,
          "text": "Were"
        },
        {
          "start": 1333.28,
          "end": 1333.56,
          "text": "given"
        },
        {
          "start": 1333.6,
          "end": 1333.72,
          "text": "too"
        },
        {
          "start": 1333.8,
          "end": 1333.96,
          "text": "much"
        },
        {
          "start": 1334.04,
          "end": 1334.44,
          "text": "leeway"
        },
        {
          "start": 1334.64,
          "end": 1334.72,
          "text": "in"
        },
        {
          "start": 1334.72,
          "end": 1334.84,
          "text": "an"
        },
        {
          "start": 1334.84,
          "end": 1334.88,
          "text": "e"
        },
        {
          "start": 1335.16,
          "end": 1335.28,
          "text": "EQ"
        },
        {
          "start": 1335.32,
          "end": 1335.4,
          "text": "what"
        },
        {
          "start": 1335.44,
          "end": 1335.48,
          "text": "you"
        },
        {
          "start": 1335.56,
          "end": 1335.68,
          "text": "kill"
        },
        {
          "start": 1335.76,
          "end": 1336.16,
          "text": "environment,"
        },
        {
          "start": 1336.24,
          "end": 1336.56,
          "text": "pms"
        },
        {
          "start": 1336.56,
          "end": 1336.72,
          "text": "will"
        },
        {
          "start": 1336.76,
          "end": 1336.96,
          "text": "start"
        },
        {
          "start": 1337.0,
          "end": 1337.04,
          "text": "to"
        },
        {
          "start": 1337.08,
          "end": 1337.24,
          "text": "set"
        },
        {
          "start": 1337.32,
          "end": 1337.52,
          "text": "risk"
        },
        {
          "start": 1337.56,
          "end": 1337.6,
          "text": "to"
        },
        {
          "start": 1337.64,
          "end": 1337.84,
          "text": "suit"
        },
        {
          "start": 1337.88,
          "end": 1338.36,
          "text": "themselves"
        },
        {
          "start": 1338.92,
          "end": 1339.04,
          "text": "than"
        },
        {
          "start": 1339.08,
          "end": 1339.2,
          "text": "they"
        },
        {
          "start": 1339.2,
          "end": 1339.28,
          "text": "do"
        },
        {
          "start": 1339.36,
          "end": 1339.44,
          "text": "for"
        },
        {
          "start": 1339.48,
          "end": 1339.56,
          "text": "the"
        },
        {
          "start": 1339.6,
          "end": 1339.92,
          "text": "overall"
        },
        {
          "start": 1339.96,
          "end": 1340.52,
          "text": "portfolio,"
        },
        {
          "start": 1340.56,
          "end": 1340.8,
          "text": "because"
        },
        {
          "start": 1340.84,
          "end": 1341.0,
          "text": "after"
        },
        {
          "start": 1341.04,
          "end": 1341.12,
          "text": "all,"
        },
        {
          "start": 1341.16,
          "end": 1341.32,
          "text": "why"
        },
        {
          "start": 1341.32,
          "end": 1341.6,
          "text": "should"
        },
        {
          "start": 1341.6,
          "end": 1341.76,
          "text": "they"
        },
        {
          "start": 1341.76,
          "end": 1341.96,
          "text": "care,"
        },
        {
          "start": 1342.88,
          "end": 1342.96,
          "text": "you"
        },
        {
          "start": 1343.04,
          "end": 1343.12,
          "text": "know,"
        },
        {
          "start": 1343.16,
          "end": 1343.28,
          "text": "why"
        },
        {
          "start": 1343.32,
          "end": 1343.56,
          "text": "should"
        },
        {
          "start": 1343.6,
          "end": 1343.68,
          "text": "they"
        },
        {
          "start": 1343.76,
          "end": 1343.88,
          "text": "care"
        },
        {
          "start": 1343.92,
          "end": 1344.16,
          "text": "about"
        },
        {
          "start": 1344.16,
          "end": 1344.24,
          "text": "the"
        },
        {
          "start": 1344.24,
          "end": 1344.56,
          "text": "overall"
        },
        {
          "start": 1344.6,
          "end": 1345.04,
          "text": "portfolio"
        },
        {
          "start": 1345.12,
          "end": 1345.6,
          "text": "performance?"
        },
        {
          "start": 1345.64,
          "end": 1345.72,
          "text": "If"
        },
        {
          "start": 1345.8,
          "end": 1345.96,
          "text": "if"
        },
        {
          "start": 1346.0,
          "end": 1346.12,
          "text": "I"
        },
        {
          "start": 1346.16,
          "end": 1346.6,
          "text": "can"
        },
        {
          "start": 1346.96,
          "end": 1347.04,
          "text": "you"
        },
        {
          "start": 1347.08,
          "end": 1347.16,
          "text": "know,"
        },
        {
          "start": 1347.52,
          "end": 1347.68,
          "text": "if"
        },
        {
          "start": 1347.72,
          "end": 1347.88,
          "text": "I've"
        },
        {
          "start": 1347.92,
          "end": 1348.08,
          "text": "made"
        },
        {
          "start": 1348.16,
          "end": 1348.44,
          "text": "money"
        },
        {
          "start": 1348.52,
          "end": 1348.6,
          "text": "for"
        },
        {
          "start": 1348.68,
          "end": 1348.76,
          "text": "the"
        },
        {
          "start": 1348.76,
          "end": 1349.04,
          "text": "first"
        },
        {
          "start": 1349.16,
          "end": 1349.36,
          "text": "nine"
        },
        {
          "start": 1349.36,
          "end": 1349.6,
          "text": "months"
        },
        {
          "start": 1349.6,
          "end": 1349.68,
          "text": "of"
        },
        {
          "start": 1349.68,
          "end": 1349.72,
          "text": "the"
        },
        {
          "start": 1349.8,
          "end": 1350.04,
          "text": "year,"
        },
        {
          "start": 1351.2,
          "end": 1351.28,
          "text": "you"
        },
        {
          "start": 1351.28,
          "end": 1351.4,
          "text": "know,"
        },
        {
          "start": 1351.48,
          "end": 1351.56,
          "text": "the"
        },
        {
          "start": 1351.6,
          "end": 1352.04,
          "text": "temptation"
        },
        {
          "start": 1352.2,
          "end": 1352.24,
          "text": "is"
        },
        {
          "start": 1352.28,
          "end": 1352.36,
          "text": "a"
        },
        {
          "start": 1352.36,
          "end": 1352.8,
          "text": "lockdown"
        },
        {
          "start": 1352.88,
          "end": 1353.12,
          "text": "risk"
        },
        {
          "start": 1353.4,
          "end": 1353.52,
          "text": "and"
        },
        {
          "start": 1353.6,
          "end": 1353.68,
          "text": "have"
        },
        {
          "start": 1353.84,
          "end": 1354.48,
          "text": "Christmas,"
        },
        {
          "start": 1354.68,
          "end": 1354.76,
          "text": "you"
        },
        {
          "start": 1354.8,
          "end": 1354.88,
          "text": "know,"
        },
        {
          "start": 1355.4,
          "end": 1355.6,
          "text": "enjoy"
        },
        {
          "start": 1355.68,
          "end": 1356.0,
          "text": "Christmas"
        },
        {
          "start": 1356.08,
          "end": 1356.2,
          "text": "rather"
        },
        {
          "start": 1356.24,
          "end": 1356.32,
          "text": "than"
        },
        {
          "start": 1356.32,
          "end": 1356.48,
          "text": "take"
        },
        {
          "start": 1356.52,
          "end": 1356.64,
          "text": "more"
        },
        {
          "start": 1356.68,
          "end": 1356.88,
          "text": "risks"
        },
        {
          "start": 1356.84,
          "end": 1357.04,
          "text": "where"
        },
        {
          "start": 1357.04,
          "end": 1357.12,
          "text": "at"
        },
        {
          "start": 1357.12,
          "end": 1357.2,
          "text": "the"
        },
        {
          "start": 1357.2,
          "end": 1357.8,
          "text": "portfolio"
        },
        {
          "start": 1358.04,
          "end": 1358.16,
          "text": "at"
        },
        {
          "start": 1358.16,
          "end": 1358.24,
          "text": "the"
        },
        {
          "start": 1358.24,
          "end": 1358.44,
          "text": "top"
        },
        {
          "start": 1358.52,
          "end": 1358.8,
          "text": "level"
        },
        {
          "start": 1359.24,
          "end": 1359.4,
          "text": "may"
        },
        {
          "start": 1359.44,
          "end": 1359.52,
          "text": "not"
        },
        {
          "start": 1359.6,
          "end": 1359.84,
          "text": "want"
        },
        {
          "start": 1359.84,
          "end": 1360.0,
          "text": "that,"
        },
        {
          "start": 1360.4,
          "end": 1360.48,
          "text": "you"
        },
        {
          "start": 1360.48,
          "end": 1360.56,
          "text": "know,"
        },
        {
          "start": 1360.6,
          "end": 1360.64,
          "text": "So"
        },
        {
          "start": 1360.76,
          "end": 1360.8,
          "text": "you"
        },
        {
          "start": 1360.88,
          "end": 1360.92,
          "text": "have"
        },
        {
          "start": 1361.0,
          "end": 1361.2,
          "text": "all"
        },
        {
          "start": 1361.28,
          "end": 1361.48,
          "text": "these"
        },
        {
          "start": 1361.48,
          "end": 1361.68,
          "text": "other"
        },
        {
          "start": 1361.76,
          "end": 1362.04,
          "text": "things"
        },
        {
          "start": 1362.04,
          "end": 1362.08,
          "text": "that"
        },
        {
          "start": 1362.6,
          "end": 1362.88,
          "text": "drive"
        },
        {
          "start": 1363.08,
          "end": 1363.52,
          "text": "others,"
        },
        {
          "start": 1363.76,
          "end": 1364.04,
          "text": "drive"
        },
        {
          "start": 1364.08,
          "end": 1364.32,
          "text": "these"
        },
        {
          "start": 1364.36,
          "end": 1364.88,
          "text": "decisions"
        },
        {
          "start": 1364.88,
          "end": 1364.92,
          "text": "of"
        },
        {
          "start": 1365.0,
          "end": 1365.32,
          "text": "people,"
        },
        {
          "start": 1366.04,
          "end": 1366.12,
          "text": "you"
        },
        {
          "start": 1366.16,
          "end": 1366.24,
          "text": "know,"
        },
        {
          "start": 1366.36,
          "end": 1366.84,
          "text": "across"
        },
        {
          "start": 1367.08,
          "end": 1367.16,
          "text": "so"
        },
        {
          "start": 1367.24,
          "end": 1367.48,
          "text": "many"
        },
        {
          "start": 1367.48,
          "end": 1367.76,
          "text": "different"
        },
        {
          "start": 1367.76,
          "end": 1368.2,
          "text": "dimensions."
        },
        {
          "start": 1368.2,
          "end": 1368.32,
          "text": "It's"
        },
        {
          "start": 1368.36,
          "end": 1368.44,
          "text": "one"
        },
        {
          "start": 1368.48,
          "end": 1368.52,
          "text": "of"
        },
        {
          "start": 1368.56,
          "end": 1368.64,
          "text": "the"
        },
        {
          "start": 1368.64,
          "end": 1368.76,
          "text": "most"
        },
        {
          "start": 1368.8,
          "end": 1369.32,
          "text": "fascinating"
        },
        {
          "start": 1369.36,
          "end": 1369.6,
          "text": "things"
        },
        {
          "start": 1369.6,
          "end": 1369.96,
          "text": "because"
        },
        {
          "start": 1370.36,
          "end": 1370.44,
          "text": "you"
        },
        {
          "start": 1370.48,
          "end": 1370.56,
          "text": "know,"
        },
        {
          "start": 1371.16,
          "end": 1371.28,
          "text": "at"
        },
        {
          "start": 1371.32,
          "end": 1371.72,
          "text": "Albourn"
        },
        {
          "start": 1371.76,
          "end": 1372.08,
          "text": "we've"
        },
        {
          "start": 1372.12,
          "end": 1372.36,
          "text": "done"
        },
        {
          "start": 1372.44,
          "end": 1372.48,
          "text": "a"
        },
        {
          "start": 1372.56,
          "end": 1372.76,
          "text": "huge"
        },
        {
          "start": 1372.76,
          "end": 1373.08,
          "text": "amount"
        },
        {
          "start": 1373.08,
          "end": 1373.12,
          "text": "of"
        },
        {
          "start": 1373.12,
          "end": 1373.24,
          "text": "work"
        },
        {
          "start": 1373.28,
          "end": 1373.48,
          "text": "trying"
        },
        {
          "start": 1373.48,
          "end": 1373.52,
          "text": "to"
        },
        {
          "start": 1373.6,
          "end": 1374.0,
          "text": "understand"
        },
        {
          "start": 1374.0,
          "end": 1374.08,
          "text": "this."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1374.2,
          "end": 1374.32,
          "text": "But"
        },
        {
          "start": 1375.44,
          "end": 1375.48,
          "text": "I"
        },
        {
          "start": 1375.56,
          "end": 1375.8,
          "text": "learned"
        },
        {
          "start": 1375.8,
          "end": 1376.16,
          "text": "Python"
        },
        {
          "start": 1376.2,
          "end": 1376.28,
          "text": "to"
        },
        {
          "start": 1376.32,
          "end": 1376.4,
          "text": "do"
        },
        {
          "start": 1376.48,
          "end": 1376.6,
          "text": "this."
        },
        {
          "start": 1377.0,
          "end": 1377.2,
          "text": "God"
        },
        {
          "start": 1377.24,
          "end": 1377.44,
          "text": "help"
        },
        {
          "start": 1377.48,
          "end": 1377.56,
          "text": "me."
        },
        {
          "start": 1378.16,
          "end": 1379.04,
          "text": "Yeah,"
        },
        {
          "start": 1379.16,
          "end": 1379.36,
          "text": "it's"
        },
        {
          "start": 1379.36,
          "end": 1379.4,
          "text": "just"
        },
        {
          "start": 1379.48,
          "end": 1379.6,
          "text": "one"
        },
        {
          "start": 1379.64,
          "end": 1379.68,
          "text": "of"
        },
        {
          "start": 1379.68,
          "end": 1379.88,
          "text": "those"
        },
        {
          "start": 1379.88,
          "end": 1380.0,
          "text": "things."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 1380.48,
          "end": 1380.68,
          "text": "How"
        },
        {
          "start": 1380.76,
          "end": 1381.0,
          "text": "does"
        },
        {
          "start": 1381.12,
          "end": 1381.2,
          "text": "the"
        },
        {
          "start": 1382.12,
          "end": 1382.28,
          "text": "what."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1382.32,
          "end": 1382.4,
          "text": "You"
        },
        {
          "start": 1382.52,
          "end": 1382.72,
          "text": "kill"
        },
        {
          "start": 1383.0,
          "end": 1383.56,
          "text": "environment"
        },
        {
          "start": 1384.44,
          "end": 1384.8,
          "text": "solve"
        },
        {
          "start": 1385.0,
          "end": 1385.2,
          "text": "for"
        },
        {
          "start": 1385.28,
          "end": 1385.36,
          "text": "the"
        },
        {
          "start": 1385.52,
          "end": 1386.04,
          "text": "problem"
        },
        {
          "start": 1386.72,
          "end": 1387.0,
          "text": "of"
        },
        {
          "start": 1387.12,
          "end": 1387.2,
          "text": "the"
        },
        {
          "start": 1387.64,
          "end": 1388.08,
          "text": "PM"
        },
        {
          "start": 1388.44,
          "end": 1388.72,
          "text": "who's"
        },
        {
          "start": 1388.76,
          "end": 1389.04,
          "text": "made"
        },
        {
          "start": 1389.08,
          "end": 1389.36,
          "text": "money"
        },
        {
          "start": 1389.4,
          "end": 1389.48,
          "text": "for"
        },
        {
          "start": 1389.6,
          "end": 1389.84,
          "text": "nine"
        },
        {
          "start": 1389.84,
          "end": 1390.12,
          "text": "months"
        },
        {
          "start": 1390.12,
          "end": 1390.2,
          "text": "of"
        },
        {
          "start": 1390.2,
          "end": 1390.28,
          "text": "the"
        },
        {
          "start": 1390.32,
          "end": 1390.48,
          "text": "year"
        },
        {
          "start": 1390.48,
          "end": 1390.56,
          "text": "and"
        },
        {
          "start": 1390.6,
          "end": 1390.72,
          "text": "then"
        },
        {
          "start": 1390.8,
          "end": 1391.0,
          "text": "want"
        },
        {
          "start": 1391.0,
          "end": 1391.04,
          "text": "to"
        },
        {
          "start": 1391.12,
          "end": 1391.28,
          "text": "lock"
        },
        {
          "start": 1391.32,
          "end": 1391.36,
          "text": "it"
        },
        {
          "start": 1391.4,
          "end": 1391.6,
          "text": "down?"
        },
        {
          "start": 1391.64,
          "end": 1391.8,
          "text": "What"
        },
        {
          "start": 1391.88,
          "end": 1392.24,
          "text": "types"
        },
        {
          "start": 1392.28,
          "end": 1392.44,
          "text": "of"
        },
        {
          "start": 1392.92,
          "end": 1393.16,
          "text": "risk"
        },
        {
          "start": 1393.24,
          "end": 1393.92,
          "text": "controls"
        },
        {
          "start": 1394.36,
          "end": 1394.48,
          "text": "or"
        },
        {
          "start": 1394.56,
          "end": 1394.64,
          "text": "I"
        },
        {
          "start": 1394.68,
          "end": 1394.92,
          "text": "guess"
        },
        {
          "start": 1394.96,
          "end": 1395.44,
          "text": "controls"
        },
        {
          "start": 1395.48,
          "end": 1395.56,
          "text": "for"
        },
        {
          "start": 1395.72,
          "end": 1395.96,
          "text": "under"
        },
        {
          "start": 1396.04,
          "end": 1396.24,
          "text": "risk"
        },
        {
          "start": 1396.28,
          "end": 1396.52,
          "text": "because"
        },
        {
          "start": 1396.56,
          "end": 1396.64,
          "text": "in"
        },
        {
          "start": 1396.64,
          "end": 1396.72,
          "text": "a"
        },
        {
          "start": 1396.72,
          "end": 1396.96,
          "text": "way,"
        },
        {
          "start": 1397.12,
          "end": 1397.2,
          "text": "the"
        },
        {
          "start": 1397.24,
          "end": 1397.44,
          "text": "thing"
        },
        {
          "start": 1397.48,
          "end": 1397.56,
          "text": "that"
        },
        {
          "start": 1397.6,
          "end": 1397.76,
          "text": "they"
        },
        {
          "start": 1397.8,
          "end": 1398.08,
          "text": "don't"
        },
        {
          "start": 1398.16,
          "end": 1398.4,
          "text": "want"
        },
        {
          "start": 1398.64,
          "end": 1398.72,
          "text": "is"
        },
        {
          "start": 1398.76,
          "end": 1399.04,
          "text": "someone"
        },
        {
          "start": 1399.12,
          "end": 1399.44,
          "text": "taking"
        },
        {
          "start": 1399.8,
          "end": 1399.84,
          "text": "some"
        },
        {
          "start": 1400.12,
          "end": 1400.4,
          "text": "risk"
        },
        {
          "start": 1400.68,
          "end": 1400.8,
          "text": "or"
        },
        {
          "start": 1400.92,
          "end": 1401.0,
          "text": "you"
        },
        {
          "start": 1401.04,
          "end": 1401.12,
          "text": "know,"
        },
        {
          "start": 1401.16,
          "end": 1401.44,
          "text": "getting"
        },
        {
          "start": 1401.48,
          "end": 1401.64,
          "text": "too"
        },
        {
          "start": 1401.68,
          "end": 1402.24,
          "text": "conservative."
        },
        {
          "start": 1402.48,
          "end": 1402.6,
          "text": "What"
        },
        {
          "start": 1402.64,
          "end": 1402.8,
          "text": "are"
        },
        {
          "start": 1402.84,
          "end": 1402.92,
          "text": "the"
        },
        {
          "start": 1402.96,
          "end": 1403.6,
          "text": "approaches"
        },
        {
          "start": 1403.64,
          "end": 1403.76,
          "text": "that"
        },
        {
          "start": 1403.8,
          "end": 1404.0,
          "text": "they"
        },
        {
          "start": 1404.08,
          "end": 1404.28,
          "text": "have"
        },
        {
          "start": 1404.88,
          "end": 1404.96,
          "text": "to"
        },
        {
          "start": 1405.32,
          "end": 1405.68,
          "text": "align"
        },
        {
          "start": 1405.72,
          "end": 1405.92,
          "text": "those"
        },
        {
          "start": 1405.96,
          "end": 1406.4,
          "text": "incentives"
        },
        {
          "start": 1406.4,
          "end": 1406.44,
          "text": "so"
        },
        {
          "start": 1406.52,
          "end": 1406.6,
          "text": "that"
        },
        {
          "start": 1406.64,
          "end": 1406.72,
          "text": "you"
        },
        {
          "start": 1406.8,
          "end": 1406.88,
          "text": "have"
        },
        {
          "start": 1406.96,
          "end": 1407.0,
          "text": "to"
        },
        {
          "start": 1407.08,
          "end": 1407.24,
          "text": "keep"
        },
        {
          "start": 1407.24,
          "end": 1407.48,
          "text": "going"
        },
        {
          "start": 1407.48,
          "end": 1407.56,
          "text": "for"
        },
        {
          "start": 1407.6,
          "end": 1407.8,
          "text": "those"
        },
        {
          "start": 1407.8,
          "end": 1408.08,
          "text": "final"
        },
        {
          "start": 1408.12,
          "end": 1408.32,
          "text": "three"
        },
        {
          "start": 1408.36,
          "end": 1408.52,
          "text": "months"
        },
        {
          "start": 1408.56,
          "end": 1408.6,
          "text": "of"
        },
        {
          "start": 1408.64,
          "end": 1408.68,
          "text": "the"
        },
        {
          "start": 1408.72,
          "end": 1408.88,
          "text": "year,"
        },
        {
          "start": 1408.92,
          "end": 1409.12,
          "text": "even"
        },
        {
          "start": 1409.16,
          "end": 1409.32,
          "text": "if"
        },
        {
          "start": 1409.32,
          "end": 1409.56,
          "text": "it"
        },
        {
          "start": 1409.6,
          "end": 1409.8,
          "text": "means"
        },
        {
          "start": 1409.88,
          "end": 1410.16,
          "text": "risking"
        },
        {
          "start": 1410.2,
          "end": 1410.28,
          "text": "your"
        },
        {
          "start": 1410.36,
          "end": 1410.52,
          "text": "great"
        },
        {
          "start": 1410.6,
          "end": 1410.8,
          "text": "year."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1411.12,
          "end": 1411.2,
          "text": "I"
        },
        {
          "start": 1411.24,
          "end": 1411.44,
          "text": "mean,"
        },
        {
          "start": 1411.68,
          "end": 1412.12,
          "text": "sometimes"
        },
        {
          "start": 1412.12,
          "end": 1412.28,
          "text": "it's"
        },
        {
          "start": 1412.4,
          "end": 1412.56,
          "text": "very"
        },
        {
          "start": 1412.6,
          "end": 1412.92,
          "text": "simple"
        },
        {
          "start": 1413.28,
          "end": 1413.88,
          "text": "minimum"
        },
        {
          "start": 1414.12,
          "end": 1414.48,
          "text": "amounts"
        },
        {
          "start": 1414.48,
          "end": 1414.56,
          "text": "of"
        },
        {
          "start": 1414.56,
          "end": 1414.8,
          "text": "capital"
        },
        {
          "start": 1414.84,
          "end": 1415.24,
          "text": "deployment"
        },
        {
          "start": 1415.6,
          "end": 1416.04,
          "text": "requiring."
        },
        {
          "start": 1416.68,
          "end": 1416.76,
          "text": "You"
        },
        {
          "start": 1416.76,
          "end": 1416.88,
          "text": "know,"
        },
        {
          "start": 1417.04,
          "end": 1417.2,
          "text": "it's"
        },
        {
          "start": 1417.28,
          "end": 1417.44,
          "text": "kind"
        },
        {
          "start": 1417.44,
          "end": 1417.52,
          "text": "of"
        },
        {
          "start": 1417.56,
          "end": 1417.84,
          "text": "hard,"
        },
        {
          "start": 1417.92,
          "end": 1418.04,
          "text": "right"
        },
        {
          "start": 1418.08,
          "end": 1418.32,
          "text": "because"
        },
        {
          "start": 1418.32,
          "end": 1418.4,
          "text": "at"
        },
        {
          "start": 1418.4,
          "end": 1418.44,
          "text": "the"
        },
        {
          "start": 1418.52,
          "end": 1418.6,
          "text": "end"
        },
        {
          "start": 1418.6,
          "end": 1418.64,
          "text": "of"
        },
        {
          "start": 1418.64,
          "end": 1418.68,
          "text": "the"
        },
        {
          "start": 1418.72,
          "end": 1418.84,
          "text": "day,"
        },
        {
          "start": 1418.84,
          "end": 1418.92,
          "text": "if"
        },
        {
          "start": 1418.92,
          "end": 1419.04,
          "text": "you've"
        },
        {
          "start": 1419.08,
          "end": 1419.16,
          "text": "got"
        },
        {
          "start": 1419.2,
          "end": 1419.68,
          "text": "successful"
        },
        {
          "start": 1419.72,
          "end": 1419.96,
          "text": "PM"
        },
        {
          "start": 1419.96,
          "end": 1420.04,
          "text": "on"
        },
        {
          "start": 1420.08,
          "end": 1420.16,
          "text": "the"
        },
        {
          "start": 1420.2,
          "end": 1420.4,
          "text": "year,"
        },
        {
          "start": 1420.56,
          "end": 1421.12,
          "text": "yeah,"
        },
        {
          "start": 1421.16,
          "end": 1421.28,
          "text": "and"
        },
        {
          "start": 1421.32,
          "end": 1421.4,
          "text": "you"
        },
        {
          "start": 1421.4,
          "end": 1421.56,
          "text": "want"
        },
        {
          "start": 1421.6,
          "end": 1421.64,
          "text": "to"
        },
        {
          "start": 1421.68,
          "end": 1421.84,
          "text": "keep"
        },
        {
          "start": 1421.88,
          "end": 1422.08,
          "text": "them"
        },
        {
          "start": 1422.28,
          "end": 1422.36,
          "text": "or"
        },
        {
          "start": 1422.4,
          "end": 1422.6,
          "text": "her,"
        },
        {
          "start": 1423.24,
          "end": 1423.84,
          "text": "it's"
        },
        {
          "start": 1423.92,
          "end": 1423.96,
          "text": "not"
        },
        {
          "start": 1424.28,
          "end": 1424.4,
          "text": "an"
        },
        {
          "start": 1424.4,
          "end": 1424.68,
          "text": "easy"
        },
        {
          "start": 1424.72,
          "end": 1424.96,
          "text": "question"
        },
        {
          "start": 1425.0,
          "end": 1425.08,
          "text": "to"
        },
        {
          "start": 1425.12,
          "end": 1425.4,
          "text": "answer."
        },
        {
          "start": 1425.56,
          "end": 1425.72,
          "text": "And"
        },
        {
          "start": 1425.8,
          "end": 1425.88,
          "text": "like"
        },
        {
          "start": 1426.08,
          "end": 1426.24,
          "text": "there"
        },
        {
          "start": 1426.28,
          "end": 1426.44,
          "text": "are"
        },
        {
          "start": 1426.48,
          "end": 1426.6,
          "text": "more"
        },
        {
          "start": 1426.64,
          "end": 1426.96,
          "text": "hybrid"
        },
        {
          "start": 1426.96,
          "end": 1427.4,
          "text": "approaches"
        },
        {
          "start": 1427.4,
          "end": 1427.48,
          "text": "to"
        },
        {
          "start": 1427.52,
          "end": 1427.68,
          "text": "these"
        },
        {
          "start": 1427.72,
          "end": 1427.8,
          "text": "what"
        },
        {
          "start": 1427.84,
          "end": 1427.88,
          "text": "you"
        },
        {
          "start": 1428.0,
          "end": 1428.16,
          "text": "kill"
        },
        {
          "start": 1428.24,
          "end": 1428.36,
          "text": "right"
        },
        {
          "start": 1428.4,
          "end": 1428.52,
          "text": "for"
        },
        {
          "start": 1428.56,
          "end": 1429.04,
          "text": "example,"
        },
        {
          "start": 1429.52,
          "end": 1430.12,
          "text": "partnership"
        },
        {
          "start": 1430.56,
          "end": 1430.64,
          "text": "so"
        },
        {
          "start": 1430.96,
          "end": 1431.04,
          "text": "you"
        },
        {
          "start": 1431.08,
          "end": 1431.16,
          "text": "know,"
        },
        {
          "start": 1431.28,
          "end": 1431.52,
          "text": "many"
        },
        {
          "start": 1431.56,
          "end": 1431.92,
          "text": "funds"
        },
        {
          "start": 1432.12,
          "end": 1432.4,
          "text": "offer"
        },
        {
          "start": 1432.48,
          "end": 1432.92,
          "text": "partnership"
        },
        {
          "start": 1432.96,
          "end": 1433.04,
          "text": "to"
        },
        {
          "start": 1433.04,
          "end": 1433.08,
          "text": "the"
        },
        {
          "start": 1433.12,
          "end": 1433.44,
          "text": "pms"
        },
        {
          "start": 1433.44,
          "end": 1433.64,
          "text": "where"
        },
        {
          "start": 1433.64,
          "end": 1433.72,
          "text": "they"
        },
        {
          "start": 1433.76,
          "end": 1433.84,
          "text": "do"
        },
        {
          "start": 1433.88,
          "end": 1434.44,
          "text": "participate"
        },
        {
          "start": 1434.44,
          "end": 1434.52,
          "text": "in"
        },
        {
          "start": 1434.56,
          "end": 1434.6,
          "text": "the"
        },
        {
          "start": 1434.64,
          "end": 1434.96,
          "text": "overall"
        },
        {
          "start": 1435.0,
          "end": 1435.28,
          "text": "fund"
        },
        {
          "start": 1436.08,
          "end": 1436.32,
          "text": "fund"
        },
        {
          "start": 1436.32,
          "end": 1436.8,
          "text": "profits."
        },
        {
          "start": 1437.04,
          "end": 1437.12,
          "text": "You"
        },
        {
          "start": 1437.12,
          "end": 1437.24,
          "text": "know,"
        },
        {
          "start": 1437.28,
          "end": 1437.48,
          "text": "there's"
        },
        {
          "start": 1437.48,
          "end": 1437.68,
          "text": "other"
        },
        {
          "start": 1437.8,
          "end": 1437.96,
          "text": "kind"
        },
        {
          "start": 1437.96,
          "end": 1438.08,
          "text": "of"
        },
        {
          "start": 1438.28,
          "end": 1438.36,
          "text": "you"
        },
        {
          "start": 1438.4,
          "end": 1438.48,
          "text": "know,"
        },
        {
          "start": 1438.6,
          "end": 1439.08,
          "text": "fancier"
        },
        {
          "start": 1439.12,
          "end": 1439.4,
          "text": "trade"
        },
        {
          "start": 1439.44,
          "end": 1439.68,
          "text": "ways"
        },
        {
          "start": 1439.72,
          "end": 1439.8,
          "text": "to"
        },
        {
          "start": 1439.8,
          "end": 1439.96,
          "text": "make"
        },
        {
          "start": 1440.24,
          "end": 1440.32,
          "text": "you"
        },
        {
          "start": 1440.36,
          "end": 1440.44,
          "text": "know,"
        },
        {
          "start": 1440.64,
          "end": 1441.04,
          "text": "increase"
        },
        {
          "start": 1441.12,
          "end": 1441.32,
          "text": "say"
        },
        {
          "start": 1441.36,
          "end": 1441.4,
          "text": "the"
        },
        {
          "start": 1441.76,
          "end": 1442.12,
          "text": "payoffs"
        },
        {
          "start": 1442.12,
          "end": 1442.16,
          "text": "to"
        },
        {
          "start": 1442.2,
          "end": 1442.24,
          "text": "the"
        },
        {
          "start": 1442.28,
          "end": 1442.52,
          "text": "PM"
        },
        {
          "start": 1442.56,
          "end": 1442.92,
          "text": "depending"
        },
        {
          "start": 1442.92,
          "end": 1442.96,
          "text": "on"
        },
        {
          "start": 1443.0,
          "end": 1443.04,
          "text": "the"
        },
        {
          "start": 1443.36,
          "end": 1443.68,
          "text": "fund's"
        },
        {
          "start": 1443.68,
          "end": 1444.2,
          "text": "performance."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1444.64,
          "end": 1444.68,
          "text": "It"
        },
        {
          "start": 1444.8,
          "end": 1445.08,
          "text": "fun's"
        },
        {
          "start": 1445.08,
          "end": 1445.44,
          "text": "overall"
        },
        {
          "start": 1445.44,
          "end": 1446.0,
          "text": "performance."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1446.4,
          "end": 1446.48,
          "text": "But"
        },
        {
          "start": 1446.56,
          "end": 1446.76,
          "text": "yeah,"
        },
        {
          "start": 1446.8,
          "end": 1447.08,
          "text": "it's"
        },
        {
          "start": 1447.08,
          "end": 1447.16,
          "text": "a"
        },
        {
          "start": 1447.16,
          "end": 1447.4,
          "text": "really"
        },
        {
          "start": 1447.4,
          "end": 1447.64,
          "text": "hard"
        },
        {
          "start": 1447.64,
          "end": 1448.0,
          "text": "problem"
        },
        {
          "start": 1448.04,
          "end": 1448.28,
          "text": "because"
        },
        {
          "start": 1448.28,
          "end": 1448.56,
          "text": "it's"
        },
        {
          "start": 1448.6,
          "end": 1448.72,
          "text": "a"
        },
        {
          "start": 1448.72,
          "end": 1449.0,
          "text": "camp."
        },
        {
          "start": 1449.04,
          "end": 1449.2,
          "text": "It's"
        },
        {
          "start": 1449.2,
          "end": 1450.08,
          "text": "a"
        },
        {
          "start": 1450.12,
          "end": 1450.4,
          "text": "personal"
        },
        {
          "start": 1450.48,
          "end": 1450.88,
          "text": "relations"
        },
        {
          "start": 1450.88,
          "end": 1451.2,
          "text": "problem,"
        },
        {
          "start": 1451.64,
          "end": 1451.76,
          "text": "you"
        },
        {
          "start": 1451.76,
          "end": 1451.88,
          "text": "know."
        },
        {
          "start": 1451.96,
          "end": 1452.04,
          "text": "I"
        },
        {
          "start": 1452.04,
          "end": 1452.2,
          "text": "mean"
        },
        {
          "start": 1452.64,
          "end": 1453.16,
          "text": "sometimes"
        },
        {
          "start": 1453.44,
          "end": 1453.52,
          "text": "you"
        },
        {
          "start": 1453.76,
          "end": 1453.84,
          "text": "just"
        },
        {
          "start": 1453.92,
          "end": 1454.08,
          "text": "got"
        },
        {
          "start": 1454.12,
          "end": 1454.16,
          "text": "to"
        },
        {
          "start": 1454.2,
          "end": 1454.52,
          "text": "accept"
        },
        {
          "start": 1454.56,
          "end": 1454.64,
          "text": "it."
        },
        {
          "start": 1454.64,
          "end": 1454.68,
          "text": "You"
        },
        {
          "start": 1454.76,
          "end": 1454.92,
          "text": "got"
        },
        {
          "start": 1454.92,
          "end": 1455.0,
          "text": "a"
        },
        {
          "start": 1455.0,
          "end": 1455.16,
          "text": "guy"
        },
        {
          "start": 1455.2,
          "end": 1455.44,
          "text": "who's"
        },
        {
          "start": 1455.52,
          "end": 1455.68,
          "text": "up"
        },
        {
          "start": 1456.0,
          "end": 1456.24,
          "text": "coming"
        },
        {
          "start": 1456.24,
          "end": 1456.36,
          "text": "to"
        },
        {
          "start": 1456.36,
          "end": 1456.4,
          "text": "the"
        },
        {
          "start": 1456.48,
          "end": 1456.56,
          "text": "end"
        },
        {
          "start": 1456.6,
          "end": 1456.64,
          "text": "of"
        },
        {
          "start": 1456.68,
          "end": 1456.72,
          "text": "the"
        },
        {
          "start": 1456.76,
          "end": 1456.92,
          "text": "year"
        },
        {
          "start": 1456.96,
          "end": 1457.0,
          "text": "and"
        },
        {
          "start": 1457.04,
          "end": 1457.24,
          "text": "they're"
        },
        {
          "start": 1457.24,
          "end": 1457.32,
          "text": "just"
        },
        {
          "start": 1457.36,
          "end": 1457.44,
          "text": "going"
        },
        {
          "start": 1457.48,
          "end": 1457.52,
          "text": "to"
        },
        {
          "start": 1457.6,
          "end": 1457.64,
          "text": "de"
        },
        {
          "start": 1457.76,
          "end": 1458.08,
          "text": "risking."
        },
        {
          "start": 1458.6,
          "end": 1458.8,
          "text": "Look,"
        },
        {
          "start": 1458.88,
          "end": 1458.96,
          "text": "the"
        },
        {
          "start": 1459.0,
          "end": 1459.16,
          "text": "thing"
        },
        {
          "start": 1459.2,
          "end": 1459.52,
          "text": "beyond"
        },
        {
          "start": 1459.52,
          "end": 1459.76,
          "text": "camp"
        },
        {
          "start": 1459.84,
          "end": 1459.92,
          "text": "is"
        },
        {
          "start": 1459.92,
          "end": 1460.12,
          "text": "really"
        },
        {
          "start": 1460.16,
          "end": 1460.52,
          "text": "culture,"
        },
        {
          "start": 1460.88,
          "end": 1461.04,
          "text": "right,"
        },
        {
          "start": 1461.08,
          "end": 1461.16,
          "text": "and"
        },
        {
          "start": 1461.16,
          "end": 1461.24,
          "text": "you"
        },
        {
          "start": 1461.24,
          "end": 1461.36,
          "text": "can"
        },
        {
          "start": 1461.4,
          "end": 1461.56,
          "text": "say"
        },
        {
          "start": 1461.6,
          "end": 1461.76,
          "text": "comp"
        },
        {
          "start": 1461.84,
          "end": 1462.12,
          "text": "drives"
        },
        {
          "start": 1462.12,
          "end": 1462.76,
          "text": "culture."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1462.48,
          "end": 1462.56,
          "text": "But"
        },
        {
          "start": 1462.6,
          "end": 1462.76,
          "text": "it's"
        },
        {
          "start": 1462.76,
          "end": 1462.92,
          "text": "not"
        },
        {
          "start": 1463.04,
          "end": 1463.36,
          "text": "quite"
        },
        {
          "start": 1463.48,
          "end": 1463.6,
          "text": "that"
        },
        {
          "start": 1463.72,
          "end": 1464.12,
          "text": "simple."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1464.28,
          "end": 1464.36,
          "text": "You"
        },
        {
          "start": 1464.4,
          "end": 1464.72,
          "text": "couldn't"
        },
        {
          "start": 1464.72,
          "end": 1464.76,
          "text": "just"
        },
        {
          "start": 1464.84,
          "end": 1465.04,
          "text": "hire"
        },
        {
          "start": 1465.04,
          "end": 1465.08,
          "text": "the"
        },
        {
          "start": 1465.12,
          "end": 1465.28,
          "text": "sort"
        },
        {
          "start": 1465.32,
          "end": 1465.4,
          "text": "of"
        },
        {
          "start": 1465.4,
          "end": 1465.88,
          "text": "individual"
        },
        {
          "start": 1465.88,
          "end": 1466.0,
          "text": "who"
        },
        {
          "start": 1466.04,
          "end": 1466.24,
          "text": "won't"
        },
        {
          "start": 1466.32,
          "end": 1466.4,
          "text": "do"
        },
        {
          "start": 1466.44,
          "end": 1466.52,
          "text": "that,"
        },
        {
          "start": 1467.04,
          "end": 1467.12,
          "text": "you"
        },
        {
          "start": 1467.12,
          "end": 1467.2,
          "text": "know,"
        },
        {
          "start": 1467.24,
          "end": 1467.32,
          "text": "and"
        },
        {
          "start": 1467.36,
          "end": 1467.4,
          "text": "a"
        },
        {
          "start": 1467.44,
          "end": 1467.56,
          "text": "lot"
        },
        {
          "start": 1467.56,
          "end": 1467.64,
          "text": "of"
        },
        {
          "start": 1467.64,
          "end": 1467.88,
          "text": "funds"
        },
        {
          "start": 1467.92,
          "end": 1468.04,
          "text": "will"
        },
        {
          "start": 1468.04,
          "end": 1468.2,
          "text": "talk"
        },
        {
          "start": 1468.24,
          "end": 1468.44,
          "text": "about"
        },
        {
          "start": 1468.48,
          "end": 1468.56,
          "text": "we"
        },
        {
          "start": 1468.6,
          "end": 1468.76,
          "text": "talked"
        },
        {
          "start": 1468.8,
          "end": 1469.0,
          "text": "about"
        },
        {
          "start": 1469.0,
          "end": 1469.04,
          "text": "the"
        },
        {
          "start": 1469.12,
          "end": 1469.32,
          "text": "war"
        },
        {
          "start": 1470.0,
          "end": 1470.04,
          "text": "for"
        },
        {
          "start": 1470.24,
          "end": 1470.56,
          "text": "talent."
        },
        {
          "start": 1470.84,
          "end": 1470.96,
          "text": "I"
        },
        {
          "start": 1471.04,
          "end": 1471.28,
          "text": "often"
        },
        {
          "start": 1471.28,
          "end": 1471.44,
          "text": "call"
        },
        {
          "start": 1471.48,
          "end": 1471.56,
          "text": "it"
        },
        {
          "start": 1471.56,
          "end": 1471.64,
          "text": "the"
        },
        {
          "start": 1471.64,
          "end": 1471.84,
          "text": "war"
        },
        {
          "start": 1471.88,
          "end": 1471.96,
          "text": "on"
        },
        {
          "start": 1472.04,
          "end": 1472.36,
          "text": "talent."
        },
        {
          "start": 1472.48,
          "end": 1472.6,
          "text": "But"
        },
        {
          "start": 1473.88,
          "end": 1474.2,
          "text": "people"
        },
        {
          "start": 1474.36,
          "end": 1474.6,
          "text": "go"
        },
        {
          "start": 1474.76,
          "end": 1474.84,
          "text": "to"
        },
        {
          "start": 1474.92,
          "end": 1475.24,
          "text": "places"
        },
        {
          "start": 1475.24,
          "end": 1475.36,
          "text": "they"
        },
        {
          "start": 1475.4,
          "end": 1475.56,
          "text": "want"
        },
        {
          "start": 1475.6,
          "end": 1475.64,
          "text": "to"
        },
        {
          "start": 1475.68,
          "end": 1475.88,
          "text": "work"
        },
        {
          "start": 1475.88,
          "end": 1475.96,
          "text": "with,"
        },
        {
          "start": 1476.0,
          "end": 1476.24,
          "text": "people"
        },
        {
          "start": 1476.24,
          "end": 1476.4,
          "text": "who"
        },
        {
          "start": 1476.4,
          "end": 1476.52,
          "text": "they"
        },
        {
          "start": 1476.52,
          "end": 1476.68,
          "text": "want"
        },
        {
          "start": 1476.72,
          "end": 1476.76,
          "text": "to"
        },
        {
          "start": 1476.8,
          "end": 1477.0,
          "text": "work"
        },
        {
          "start": 1477.04,
          "end": 1477.2,
          "text": "for,"
        },
        {
          "start": 1477.4,
          "end": 1477.56,
          "text": "and"
        },
        {
          "start": 1477.68,
          "end": 1477.8,
          "text": "you"
        },
        {
          "start": 1477.84,
          "end": 1477.92,
          "text": "do"
        },
        {
          "start": 1478.0,
          "end": 1478.2,
          "text": "try"
        },
        {
          "start": 1478.24,
          "end": 1478.28,
          "text": "to"
        },
        {
          "start": 1478.6,
          "end": 1478.64,
          "text": "just"
        },
        {
          "start": 1478.68,
          "end": 1478.84,
          "text": "hire"
        },
        {
          "start": 1478.92,
          "end": 1479.48,
          "text": "professionals,"
        },
        {
          "start": 1479.92,
          "end": 1480.24,
          "text": "regular"
        },
        {
          "start": 1480.24,
          "end": 1480.44,
          "text": "people"
        },
        {
          "start": 1480.48,
          "end": 1480.56,
          "text": "like"
        },
        {
          "start": 1480.64,
          "end": 1480.72,
          "text": "us"
        },
        {
          "start": 1480.76,
          "end": 1480.96,
          "text": "who"
        },
        {
          "start": 1481.0,
          "end": 1481.2,
          "text": "work"
        },
        {
          "start": 1481.28,
          "end": 1481.48,
          "text": "through"
        },
        {
          "start": 1481.48,
          "end": 1481.52,
          "text": "the"
        },
        {
          "start": 1481.64,
          "end": 1482.08,
          "text": "holidays,"
        },
        {
          "start": 1482.08,
          "end": 1482.12,
          "text": "you"
        },
        {
          "start": 1482.16,
          "end": 1482.24,
          "text": "know,"
        },
        {
          "start": 1482.24,
          "end": 1482.28,
          "text": "and"
        },
        {
          "start": 1482.32,
          "end": 1482.6,
          "text": "stuff"
        },
        {
          "start": 1482.64,
          "end": 1482.68,
          "text": "like"
        },
        {
          "start": 1482.72,
          "end": 1482.84,
          "text": "that,"
        },
        {
          "start": 1482.88,
          "end": 1482.96,
          "text": "you"
        },
        {
          "start": 1482.96,
          "end": 1483.08,
          "text": "know,"
        },
        {
          "start": 1483.2,
          "end": 1483.28,
          "text": "just"
        },
        {
          "start": 1483.28,
          "end": 1483.36,
          "text": "to"
        },
        {
          "start": 1483.36,
          "end": 1483.64,
          "text": "finish"
        },
        {
          "start": 1483.64,
          "end": 1483.76,
          "text": "off"
        },
        {
          "start": 1483.8,
          "end": 1483.92,
          "text": "top"
        },
        {
          "start": 1483.96,
          "end": 1484.04,
          "text": "for"
        },
        {
          "start": 1484.16,
          "end": 1484.2,
          "text": "the"
        },
        {
          "start": 1484.32,
          "end": 1484.48,
          "text": "year."
        },
        {
          "start": 1484.52,
          "end": 1484.6,
          "text": "You"
        },
        {
          "start": 1484.64,
          "end": 1485.16,
          "text": "know,"
        },
        {
          "start": 1485.44,
          "end": 1485.6,
          "text": "you've"
        },
        {
          "start": 1485.6,
          "end": 1485.72,
          "text": "got"
        },
        {
          "start": 1485.76,
          "end": 1485.8,
          "text": "to"
        },
        {
          "start": 1485.84,
          "end": 1486.04,
          "text": "hire"
        },
        {
          "start": 1486.04,
          "end": 1486.12,
          "text": "the"
        },
        {
          "start": 1486.16,
          "end": 1486.28,
          "text": "right"
        },
        {
          "start": 1486.32,
          "end": 1486.52,
          "text": "people."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 1503.04,
          "end": 1503.2,
          "text": "So"
        },
        {
          "start": 1503.44,
          "end": 1503.92,
          "text": "listening"
        },
        {
          "start": 1503.96,
          "end": 1504.04,
          "text": "to"
        },
        {
          "start": 1504.36,
          "end": 1504.68,
          "text": "talk"
        },
        {
          "start": 1504.96,
          "end": 1505.16,
          "text": "on"
        },
        {
          "start": 1505.6,
          "end": 1505.88,
          "text": "pass"
        },
        {
          "start": 1505.96,
          "end": 1506.32,
          "text": "throughs"
        },
        {
          "start": 1506.4,
          "end": 1506.8,
          "text": "versus"
        },
        {
          "start": 1506.96,
          "end": 1507.52,
          "text": "traditional"
        },
        {
          "start": 1507.52,
          "end": 1507.88,
          "text": "fees"
        },
        {
          "start": 1507.96,
          "end": 1508.04,
          "text": "the"
        },
        {
          "start": 1508.08,
          "end": 1508.28,
          "text": "two"
        },
        {
          "start": 1508.28,
          "end": 1508.4,
          "text": "and"
        },
        {
          "start": 1508.44,
          "end": 1508.76,
          "text": "twenty,"
        },
        {
          "start": 1509.16,
          "end": 1509.32,
          "text": "I'm"
        },
        {
          "start": 1509.36,
          "end": 1509.52,
          "text": "kind"
        },
        {
          "start": 1509.52,
          "end": 1509.6,
          "text": "of"
        },
        {
          "start": 1509.64,
          "end": 1510.0,
          "text": "wondering"
        },
        {
          "start": 1510.04,
          "end": 1510.24,
          "text": "why"
        },
        {
          "start": 1510.28,
          "end": 1510.48,
          "text": "would"
        },
        {
          "start": 1510.56,
          "end": 1510.64,
          "text": "you"
        },
        {
          "start": 1510.68,
          "end": 1510.88,
          "text": "ever"
        },
        {
          "start": 1510.96,
          "end": 1511.36,
          "text": "invest"
        },
        {
          "start": 1511.4,
          "end": 1511.48,
          "text": "in"
        },
        {
          "start": 1511.52,
          "end": 1511.6,
          "text": "a"
        },
        {
          "start": 1511.68,
          "end": 1511.96,
          "text": "pass"
        },
        {
          "start": 1512.0,
          "end": 1512.28,
          "text": "through"
        },
        {
          "start": 1512.6,
          "end": 1513.04,
          "text": "because"
        },
        {
          "start": 1513.56,
          "end": 1513.76,
          "text": "when"
        },
        {
          "start": 1513.8,
          "end": 1513.88,
          "text": "you"
        },
        {
          "start": 1513.96,
          "end": 1514.44,
          "text": "describe"
        },
        {
          "start": 1514.44,
          "end": 1514.52,
          "text": "the"
        },
        {
          "start": 1514.6,
          "end": 1515.48,
          "text": "downsides,"
        },
        {
          "start": 1515.8,
          "end": 1516.04,
          "text": "it's"
        },
        {
          "start": 1516.16,
          "end": 1516.24,
          "text": "like"
        },
        {
          "start": 1516.76,
          "end": 1516.84,
          "text": "you"
        },
        {
          "start": 1516.88,
          "end": 1517.08,
          "text": "don't"
        },
        {
          "start": 1517.12,
          "end": 1517.2,
          "text": "have"
        },
        {
          "start": 1517.24,
          "end": 1517.4,
          "text": "as"
        },
        {
          "start": 1517.44,
          "end": 1517.64,
          "text": "much"
        },
        {
          "start": 1517.68,
          "end": 1518.32,
          "text": "cooperation."
        },
        {
          "start": 1518.64,
          "end": 1518.88,
          "text": "Maybe"
        },
        {
          "start": 1518.92,
          "end": 1519.12,
          "text": "it's"
        },
        {
          "start": 1519.12,
          "end": 1519.48,
          "text": "harder"
        },
        {
          "start": 1519.48,
          "end": 1519.56,
          "text": "to"
        },
        {
          "start": 1519.64,
          "end": 1519.84,
          "text": "move"
        },
        {
          "start": 1519.92,
          "end": 1520.4,
          "text": "capital"
        },
        {
          "start": 1520.56,
          "end": 1521.08,
          "text": "around."
        },
        {
          "start": 1521.48,
          "end": 1521.56,
          "text": "It"
        },
        {
          "start": 1521.64,
          "end": 1522.0,
          "text": "seems"
        },
        {
          "start": 1522.0,
          "end": 1522.12,
          "text": "like"
        },
        {
          "start": 1522.2,
          "end": 1522.32,
          "text": "the"
        },
        {
          "start": 1522.32,
          "end": 1522.88,
          "text": "traditional"
        },
        {
          "start": 1522.88,
          "end": 1523.12,
          "text": "fee"
        },
        {
          "start": 1523.16,
          "end": 1523.72,
          "text": "structure"
        },
        {
          "start": 1524.32,
          "end": 1524.48,
          "text": "might"
        },
        {
          "start": 1524.52,
          "end": 1524.6,
          "text": "be"
        },
        {
          "start": 1524.68,
          "end": 1524.76,
          "text": "the"
        },
        {
          "start": 1524.76,
          "end": 1525.04,
          "text": "better"
        },
        {
          "start": 1525.12,
          "end": 1525.44,
          "text": "choice"
        },
        {
          "start": 1525.44,
          "end": 1525.68,
          "text": "here."
        },
        {
          "start": 1525.8,
          "end": 1525.92,
          "text": "But"
        },
        {
          "start": 1526.4,
          "end": 1526.64,
          "text": "tell"
        },
        {
          "start": 1526.64,
          "end": 1526.72,
          "text": "me"
        },
        {
          "start": 1526.76,
          "end": 1526.92,
          "text": "why"
        },
        {
          "start": 1526.96,
          "end": 1527.08,
          "text": "I'm"
        },
        {
          "start": 1527.12,
          "end": 1527.44,
          "text": "wrong."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1527.64,
          "end": 1527.84,
          "text": "Well,"
        },
        {
          "start": 1527.84,
          "end": 1528.2,
          "text": "we've"
        },
        {
          "start": 1528.24,
          "end": 1528.4,
          "text": "been"
        },
        {
          "start": 1528.52,
          "end": 1528.84,
          "text": "taking"
        },
        {
          "start": 1529.24,
          "end": 1529.32,
          "text": "I"
        },
        {
          "start": 1529.32,
          "end": 1529.48,
          "text": "mean"
        },
        {
          "start": 1529.56,
          "end": 1529.64,
          "text": "that"
        },
        {
          "start": 1529.72,
          "end": 1529.8,
          "text": "this"
        },
        {
          "start": 1529.92,
          "end": 1530.0,
          "text": "is"
        },
        {
          "start": 1530.08,
          "end": 1530.48,
          "text": "partially"
        },
        {
          "start": 1530.48,
          "end": 1530.56,
          "text": "my"
        },
        {
          "start": 1530.64,
          "end": 1531.0,
          "text": "training,"
        },
        {
          "start": 1531.2,
          "end": 1531.44,
          "text": "taking"
        },
        {
          "start": 1531.48,
          "end": 1531.52,
          "text": "the"
        },
        {
          "start": 1531.56,
          "end": 1531.76,
          "text": "side"
        },
        {
          "start": 1531.76,
          "end": 1531.84,
          "text": "of"
        },
        {
          "start": 1531.84,
          "end": 1531.88,
          "text": "the"
        },
        {
          "start": 1531.88,
          "end": 1532.36,
          "text": "alligator"
        },
        {
          "start": 1532.44,
          "end": 1532.6,
          "text": "here"
        },
        {
          "start": 1532.92,
          "end": 1533.04,
          "text": "and"
        },
        {
          "start": 1533.08,
          "end": 1533.24,
          "text": "you're"
        },
        {
          "start": 1533.32,
          "end": 1533.52,
          "text": "right,"
        },
        {
          "start": 1533.6,
          "end": 1533.68,
          "text": "like"
        },
        {
          "start": 1533.96,
          "end": 1534.6,
          "text": "superficially"
        },
        {
          "start": 1534.64,
          "end": 1534.76,
          "text": "at"
        },
        {
          "start": 1534.8,
          "end": 1534.84,
          "text": "the"
        },
        {
          "start": 1534.88,
          "end": 1535.04,
          "text": "top"
        },
        {
          "start": 1535.12,
          "end": 1535.4,
          "text": "level,"
        },
        {
          "start": 1536.08,
          "end": 1536.16,
          "text": "a"
        },
        {
          "start": 1536.2,
          "end": 1536.4,
          "text": "pass"
        },
        {
          "start": 1536.44,
          "end": 1536.6,
          "text": "through"
        },
        {
          "start": 1536.6,
          "end": 1536.64,
          "text": "it"
        },
        {
          "start": 1536.68,
          "end": 1536.96,
          "text": "seems"
        },
        {
          "start": 1537.0,
          "end": 1537.04,
          "text": "like"
        },
        {
          "start": 1537.08,
          "end": 1537.16,
          "text": "a"
        },
        {
          "start": 1537.2,
          "end": 1537.44,
          "text": "bad"
        },
        {
          "start": 1537.48,
          "end": 1537.8,
          "text": "idea"
        },
        {
          "start": 1537.84,
          "end": 1537.88,
          "text": "for"
        },
        {
          "start": 1537.92,
          "end": 1537.96,
          "text": "the"
        },
        {
          "start": 1538.0,
          "end": 1538.52,
          "text": "allocator,"
        },
        {
          "start": 1538.72,
          "end": 1538.8,
          "text": "but"
        },
        {
          "start": 1539.28,
          "end": 1539.48,
          "text": "there's"
        },
        {
          "start": 1539.52,
          "end": 1539.68,
          "text": "kind"
        },
        {
          "start": 1539.68,
          "end": 1539.76,
          "text": "of"
        },
        {
          "start": 1539.76,
          "end": 1539.96,
          "text": "three"
        },
        {
          "start": 1539.96,
          "end": 1540.28,
          "text": "people,"
        },
        {
          "start": 1540.48,
          "end": 1540.68,
          "text": "three"
        },
        {
          "start": 1540.8,
          "end": 1541.08,
          "text": "entities"
        },
        {
          "start": 1541.12,
          "end": 1541.36,
          "text": "getting"
        },
        {
          "start": 1541.36,
          "end": 1541.64,
          "text": "commed."
        },
        {
          "start": 1541.68,
          "end": 1541.88,
          "text": "Here"
        },
        {
          "start": 1542.04,
          "end": 1542.12,
          "text": "is"
        },
        {
          "start": 1542.12,
          "end": 1542.2,
          "text": "the"
        },
        {
          "start": 1542.28,
          "end": 1542.84,
          "text": "alligator,"
        },
        {
          "start": 1543.48,
          "end": 1543.72,
          "text": "they're"
        },
        {
          "start": 1543.76,
          "end": 1543.8,
          "text": "the"
        },
        {
          "start": 1544.4,
          "end": 1544.84,
          "text": "manager"
        },
        {
          "start": 1545.12,
          "end": 1545.2,
          "text": "and"
        },
        {
          "start": 1545.24,
          "end": 1545.4,
          "text": "they're"
        },
        {
          "start": 1545.44,
          "end": 1545.52,
          "text": "the"
        },
        {
          "start": 1545.56,
          "end": 1545.84,
          "text": "PM."
        },
        {
          "start": 1546.52,
          "end": 1546.68,
          "text": "And"
        },
        {
          "start": 1546.76,
          "end": 1546.84,
          "text": "the"
        },
        {
          "start": 1546.96,
          "end": 1547.16,
          "text": "thing"
        },
        {
          "start": 1547.28,
          "end": 1547.36,
          "text": "is"
        },
        {
          "start": 1547.48,
          "end": 1547.6,
          "text": "one"
        },
        {
          "start": 1547.64,
          "end": 1547.68,
          "text": "of"
        },
        {
          "start": 1547.76,
          "end": 1547.8,
          "text": "the"
        },
        {
          "start": 1547.88,
          "end": 1548.0,
          "text": "one"
        },
        {
          "start": 1548.0,
          "end": 1548.04,
          "text": "of"
        },
        {
          "start": 1548.08,
          "end": 1548.16,
          "text": "the"
        },
        {
          "start": 1548.16,
          "end": 1548.6,
          "text": "standout"
        },
        {
          "start": 1548.64,
          "end": 1549.04,
          "text": "features"
        },
        {
          "start": 1549.04,
          "end": 1549.8,
          "text": "phychologically"
        },
        {
          "start": 1549.8,
          "end": 1549.84,
          "text": "of"
        },
        {
          "start": 1550.04,
          "end": 1550.2,
          "text": "most"
        },
        {
          "start": 1550.28,
          "end": 1550.68,
          "text": "pms"
        },
        {
          "start": 1551.08,
          "end": 1551.16,
          "text": "is"
        },
        {
          "start": 1551.2,
          "end": 1551.28,
          "text": "they"
        },
        {
          "start": 1551.32,
          "end": 1551.44,
          "text": "all"
        },
        {
          "start": 1551.48,
          "end": 1551.64,
          "text": "think"
        },
        {
          "start": 1551.64,
          "end": 1551.84,
          "text": "they're"
        },
        {
          "start": 1551.84,
          "end": 1552.04,
          "text": "really"
        },
        {
          "start": 1552.08,
          "end": 1552.28,
          "text": "good."
        },
        {
          "start": 1552.52,
          "end": 1552.72,
          "text": "That's"
        },
        {
          "start": 1552.72,
          "end": 1552.88,
          "text": "how"
        },
        {
          "start": 1552.88,
          "end": 1552.96,
          "text": "you"
        },
        {
          "start": 1553.0,
          "end": 1553.2,
          "text": "become"
        },
        {
          "start": 1553.2,
          "end": 1553.28,
          "text": "a"
        },
        {
          "start": 1553.32,
          "end": 1553.56,
          "text": "PM."
        },
        {
          "start": 1553.6,
          "end": 1553.68,
          "text": "You"
        },
        {
          "start": 1553.72,
          "end": 1553.92,
          "text": "become"
        },
        {
          "start": 1553.96,
          "end": 1554.4,
          "text": "ambitious,"
        },
        {
          "start": 1554.56,
          "end": 1554.68,
          "text": "you"
        },
        {
          "start": 1554.72,
          "end": 1555.0,
          "text": "press"
        },
        {
          "start": 1555.0,
          "end": 1555.36,
          "text": "yourself"
        },
        {
          "start": 1555.4,
          "end": 1555.48,
          "text": "to"
        },
        {
          "start": 1555.84,
          "end": 1556.08,
          "text": "test"
        },
        {
          "start": 1556.08,
          "end": 1556.36,
          "text": "yourself"
        },
        {
          "start": 1556.4,
          "end": 1556.68,
          "text": "against"
        },
        {
          "start": 1556.68,
          "end": 1556.76,
          "text": "the"
        },
        {
          "start": 1556.8,
          "end": 1557.12,
          "text": "market."
        },
        {
          "start": 1557.84,
          "end": 1557.92,
          "text": "A"
        },
        {
          "start": 1557.96,
          "end": 1558.2,
          "text": "pass"
        },
        {
          "start": 1558.24,
          "end": 1558.44,
          "text": "through"
        },
        {
          "start": 1558.44,
          "end": 1558.84,
          "text": "manager"
        },
        {
          "start": 1559.6,
          "end": 1559.76,
          "text": "will"
        },
        {
          "start": 1559.8,
          "end": 1559.96,
          "text": "give"
        },
        {
          "start": 1559.96,
          "end": 1560.0,
          "text": "you"
        },
        {
          "start": 1560.28,
          "end": 1560.4,
          "text": "the"
        },
        {
          "start": 1560.4,
          "end": 1560.68,
          "text": "max"
        },
        {
          "start": 1560.72,
          "end": 1561.28,
          "text": "compensation"
        },
        {
          "start": 1561.88,
          "end": 1562.04,
          "text": "if"
        },
        {
          "start": 1562.08,
          "end": 1562.28,
          "text": "you're"
        },
        {
          "start": 1562.32,
          "end": 1562.4,
          "text": "a"
        },
        {
          "start": 1562.4,
          "end": 1562.6,
          "text": "good"
        },
        {
          "start": 1562.64,
          "end": 1562.92,
          "text": "PM,"
        },
        {
          "start": 1563.64,
          "end": 1563.92,
          "text": "right,"
        },
        {
          "start": 1563.96,
          "end": 1564.08,
          "text": "And"
        },
        {
          "start": 1564.28,
          "end": 1564.4,
          "text": "at"
        },
        {
          "start": 1564.4,
          "end": 1564.48,
          "text": "the"
        },
        {
          "start": 1564.56,
          "end": 1564.68,
          "text": "end"
        },
        {
          "start": 1564.68,
          "end": 1564.72,
          "text": "of"
        },
        {
          "start": 1564.8,
          "end": 1564.84,
          "text": "the"
        },
        {
          "start": 1564.96,
          "end": 1565.16,
          "text": "day,"
        },
        {
          "start": 1565.48,
          "end": 1565.6,
          "text": "what"
        },
        {
          "start": 1565.64,
          "end": 1565.84,
          "text": "we're"
        },
        {
          "start": 1565.84,
          "end": 1566.36,
          "text": "describing"
        },
        {
          "start": 1566.44,
          "end": 1566.52,
          "text": "is"
        },
        {
          "start": 1566.52,
          "end": 1566.64,
          "text": "an"
        },
        {
          "start": 1566.68,
          "end": 1567.12,
          "text": "industry"
        },
        {
          "start": 1567.24,
          "end": 1567.36,
          "text": "that"
        },
        {
          "start": 1567.6,
          "end": 1568.0,
          "text": "relies"
        },
        {
          "start": 1568.04,
          "end": 1568.12,
          "text": "on"
        },
        {
          "start": 1568.2,
          "end": 1568.6,
          "text": "pms"
        },
        {
          "start": 1568.64,
          "end": 1568.68,
          "text": "to"
        },
        {
          "start": 1568.72,
          "end": 1568.8,
          "text": "do"
        },
        {
          "start": 1568.88,
          "end": 1569.08,
          "text": "good"
        },
        {
          "start": 1569.08,
          "end": 1569.4,
          "text": "work"
        },
        {
          "start": 1569.96,
          "end": 1570.12,
          "text": "and"
        },
        {
          "start": 1570.16,
          "end": 1570.28,
          "text": "who"
        },
        {
          "start": 1570.36,
          "end": 1570.48,
          "text": "are"
        },
        {
          "start": 1570.48,
          "end": 1570.72,
          "text": "really"
        },
        {
          "start": 1570.72,
          "end": 1571.08,
          "text": "smart."
        },
        {
          "start": 1571.36,
          "end": 1571.52,
          "text": "And"
        },
        {
          "start": 1571.6,
          "end": 1571.72,
          "text": "if"
        },
        {
          "start": 1571.76,
          "end": 1571.84,
          "text": "you"
        },
        {
          "start": 1571.92,
          "end": 1572.0,
          "text": "have"
        },
        {
          "start": 1572.04,
          "end": 1572.12,
          "text": "a"
        },
        {
          "start": 1572.16,
          "end": 1572.6,
          "text": "situation"
        },
        {
          "start": 1572.64,
          "end": 1572.8,
          "text": "where"
        },
        {
          "start": 1572.84,
          "end": 1573.0,
          "text": "they're"
        },
        {
          "start": 1573.04,
          "end": 1573.12,
          "text": "going"
        },
        {
          "start": 1573.16,
          "end": 1573.24,
          "text": "to"
        },
        {
          "start": 1573.24,
          "end": 1573.36,
          "text": "get"
        },
        {
          "start": 1573.36,
          "end": 1573.56,
          "text": "paid"
        },
        {
          "start": 1573.56,
          "end": 1573.64,
          "text": "in"
        },
        {
          "start": 1573.68,
          "end": 1573.72,
          "text": "a"
        },
        {
          "start": 1573.76,
          "end": 1574.12,
          "text": "particular"
        },
        {
          "start": 1574.24,
          "end": 1574.48,
          "text": "entity"
        },
        {
          "start": 1574.76,
          "end": 1575.04,
          "text": "more"
        },
        {
          "start": 1575.08,
          "end": 1575.2,
          "text": "than"
        },
        {
          "start": 1575.32,
          "end": 1575.6,
          "text": "another"
        },
        {
          "start": 1575.68,
          "end": 1575.92,
          "text": "sort,"
        },
        {
          "start": 1576.16,
          "end": 1576.28,
          "text": "they"
        },
        {
          "start": 1576.32,
          "end": 1576.48,
          "text": "will"
        },
        {
          "start": 1576.52,
          "end": 1576.92,
          "text": "gravitate"
        },
        {
          "start": 1576.96,
          "end": 1577.32,
          "text": "towards"
        },
        {
          "start": 1577.32,
          "end": 1577.4,
          "text": "that."
        },
        {
          "start": 1577.96,
          "end": 1578.12,
          "text": "So"
        },
        {
          "start": 1578.4,
          "end": 1578.48,
          "text": "the"
        },
        {
          "start": 1578.48,
          "end": 1578.76,
          "text": "answer"
        },
        {
          "start": 1578.8,
          "end": 1578.88,
          "text": "to"
        },
        {
          "start": 1578.88,
          "end": 1579.0,
          "text": "your"
        },
        {
          "start": 1579.04,
          "end": 1579.28,
          "text": "question"
        },
        {
          "start": 1579.6,
          "end": 1579.76,
          "text": "is,"
        },
        {
          "start": 1579.88,
          "end": 1580.0,
          "text": "if"
        },
        {
          "start": 1580.08,
          "end": 1580.64,
          "text": "alligators"
        },
        {
          "start": 1580.64,
          "end": 1580.76,
          "text": "had"
        },
        {
          "start": 1580.8,
          "end": 1580.92,
          "text": "their"
        },
        {
          "start": 1580.92,
          "end": 1581.12,
          "text": "way,"
        },
        {
          "start": 1581.16,
          "end": 1581.32,
          "text": "they"
        },
        {
          "start": 1581.36,
          "end": 1581.64,
          "text": "probably"
        },
        {
          "start": 1581.68,
          "end": 1582.4,
          "text": "wouldn't."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1582.04,
          "end": 1582.2,
          "text": "Want"
        },
        {
          "start": 1582.2,
          "end": 1582.28,
          "text": "to"
        },
        {
          "start": 1582.28,
          "end": 1582.56,
          "text": "invest"
        },
        {
          "start": 1582.6,
          "end": 1582.64,
          "text": "in"
        },
        {
          "start": 1582.64,
          "end": 1582.88,
          "text": "pass"
        },
        {
          "start": 1582.92,
          "end": 1583.2,
          "text": "throughs."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1583.2,
          "end": 1583.56,
          "text": "But"
        },
        {
          "start": 1583.6,
          "end": 1583.68,
          "text": "the"
        },
        {
          "start": 1583.72,
          "end": 1584.0,
          "text": "fact"
        },
        {
          "start": 1584.04,
          "end": 1584.12,
          "text": "is"
        },
        {
          "start": 1584.16,
          "end": 1584.6,
          "text": "that"
        },
        {
          "start": 1584.24,
          "end": 1584.36,
          "text": "they"
        },
        {
          "start": 1584.88,
          "end": 1585.24,
          "text": "don't"
        },
        {
          "start": 1585.8,
          "end": 1585.92,
          "text": "have"
        },
        {
          "start": 1585.96,
          "end": 1586.04,
          "text": "a"
        },
        {
          "start": 1586.12,
          "end": 1586.56,
          "text": "choice,"
        },
        {
          "start": 1586.88,
          "end": 1586.96,
          "text": "and"
        },
        {
          "start": 1587.04,
          "end": 1587.24,
          "text": "pass"
        },
        {
          "start": 1587.28,
          "end": 1587.52,
          "text": "throughs"
        },
        {
          "start": 1587.52,
          "end": 1587.76,
          "text": "are"
        },
        {
          "start": 1588.0,
          "end": 1588.08,
          "text": "you"
        },
        {
          "start": 1588.12,
          "end": 1588.24,
          "text": "know."
        },
        {
          "start": 1588.28,
          "end": 1588.36,
          "text": "The"
        },
        {
          "start": 1588.4,
          "end": 1588.6,
          "text": "other"
        },
        {
          "start": 1588.6,
          "end": 1588.76,
          "text": "thing"
        },
        {
          "start": 1588.8,
          "end": 1588.88,
          "text": "to"
        },
        {
          "start": 1588.92,
          "end": 1589.28,
          "text": "remember"
        },
        {
          "start": 1589.36,
          "end": 1589.44,
          "text": "is"
        },
        {
          "start": 1589.44,
          "end": 1589.68,
          "text": "past"
        },
        {
          "start": 1589.64,
          "end": 1589.92,
          "text": "throughs"
        },
        {
          "start": 1590.08,
          "end": 1590.24,
          "text": "are"
        },
        {
          "start": 1590.24,
          "end": 1590.44,
          "text": "good"
        },
        {
          "start": 1590.44,
          "end": 1590.52,
          "text": "for"
        },
        {
          "start": 1590.6,
          "end": 1591.04,
          "text": "pms."
        },
        {
          "start": 1591.32,
          "end": 1591.4,
          "text": "But"
        },
        {
          "start": 1591.48,
          "end": 1591.56,
          "text": "the"
        },
        {
          "start": 1591.64,
          "end": 1592.04,
          "text": "interesting"
        },
        {
          "start": 1592.08,
          "end": 1592.28,
          "text": "thing"
        },
        {
          "start": 1592.64,
          "end": 1592.72,
          "text": "and"
        },
        {
          "start": 1592.8,
          "end": 1593.08,
          "text": "people"
        },
        {
          "start": 1593.12,
          "end": 1593.2,
          "text": "do"
        },
        {
          "start": 1593.28,
          "end": 1593.56,
          "text": "forget"
        },
        {
          "start": 1593.6,
          "end": 1593.84,
          "text": "about."
        },
        {
          "start": 1593.88,
          "end": 1593.96,
          "text": "This"
        },
        {
          "start": 1594.32,
          "end": 1594.44,
          "text": "is"
        },
        {
          "start": 1594.52,
          "end": 1594.6,
          "text": "in"
        },
        {
          "start": 1594.64,
          "end": 1594.72,
          "text": "a"
        },
        {
          "start": 1594.72,
          "end": 1594.96,
          "text": "past"
        },
        {
          "start": 1594.96,
          "end": 1595.16,
          "text": "through"
        },
        {
          "start": 1595.24,
          "end": 1595.72,
          "text": "situation"
        },
        {
          "start": 1596.12,
          "end": 1596.2,
          "text": "in"
        },
        {
          "start": 1596.24,
          "end": 1596.32,
          "text": "a"
        },
        {
          "start": 1596.36,
          "end": 1596.6,
          "text": "pod"
        },
        {
          "start": 1596.6,
          "end": 1596.92,
          "text": "shop,"
        },
        {
          "start": 1597.64,
          "end": 1597.72,
          "text": "the"
        },
        {
          "start": 1597.76,
          "end": 1598.64,
          "text": "PM"
        },
        {
          "start": 1598.76,
          "end": 1598.84,
          "text": "is"
        },
        {
          "start": 1598.88,
          "end": 1599.16,
          "text": "getting"
        },
        {
          "start": 1599.16,
          "end": 1599.44,
          "text": "paid"
        },
        {
          "start": 1599.92,
          "end": 1600.2,
          "text": "from"
        },
        {
          "start": 1600.28,
          "end": 1600.44,
          "text": "their"
        },
        {
          "start": 1600.48,
          "end": 1600.68,
          "text": "own"
        },
        {
          "start": 1600.68,
          "end": 1600.76,
          "text": "P"
        },
        {
          "start": 1600.84,
          "end": 1600.88,
          "text": "and"
        },
        {
          "start": 1601.0,
          "end": 1601.08,
          "text": "L."
        },
        {
          "start": 1601.36,
          "end": 1601.44,
          "text": "The"
        },
        {
          "start": 1601.52,
          "end": 1601.92,
          "text": "manager"
        },
        {
          "start": 1602.0,
          "end": 1602.48,
          "text": "themselves"
        },
        {
          "start": 1603.0,
          "end": 1603.12,
          "text": "is"
        },
        {
          "start": 1603.6,
          "end": 1603.88,
          "text": "fully"
        },
        {
          "start": 1603.92,
          "end": 1604.36,
          "text": "aligned"
        },
        {
          "start": 1604.4,
          "end": 1604.48,
          "text": "with"
        },
        {
          "start": 1604.52,
          "end": 1604.64,
          "text": "the"
        },
        {
          "start": 1604.68,
          "end": 1605.12,
          "text": "investor,"
        },
        {
          "start": 1605.28,
          "end": 1605.36,
          "text": "with"
        },
        {
          "start": 1605.44,
          "end": 1605.48,
          "text": "the"
        },
        {
          "start": 1605.52,
          "end": 1606.04,
          "text": "allocator"
        },
        {
          "start": 1606.04,
          "end": 1606.28,
          "text": "because"
        },
        {
          "start": 1606.28,
          "end": 1606.48,
          "text": "they're"
        },
        {
          "start": 1606.52,
          "end": 1606.68,
          "text": "only"
        },
        {
          "start": 1606.68,
          "end": 1606.96,
          "text": "getting"
        },
        {
          "start": 1607.0,
          "end": 1607.28,
          "text": "paid"
        },
        {
          "start": 1607.64,
          "end": 1607.84,
          "text": "off"
        },
        {
          "start": 1607.88,
          "end": 1607.96,
          "text": "the"
        },
        {
          "start": 1608.0,
          "end": 1608.36,
          "text": "netted"
        },
        {
          "start": 1608.76,
          "end": 1608.84,
          "text": "of"
        },
        {
          "start": 1608.88,
          "end": 1609.04,
          "text": "all"
        },
        {
          "start": 1609.04,
          "end": 1609.12,
          "text": "the"
        },
        {
          "start": 1609.12,
          "end": 1609.36,
          "text": "pass"
        },
        {
          "start": 1609.4,
          "end": 1609.6,
          "text": "throughs."
        },
        {
          "start": 1609.6,
          "end": 1609.76,
          "text": "They're"
        },
        {
          "start": 1609.76,
          "end": 1610.0,
          "text": "paying"
        },
        {
          "start": 1610.04,
          "end": 1610.16,
          "text": "off"
        },
        {
          "start": 1610.2,
          "end": 1610.24,
          "text": "the"
        },
        {
          "start": 1610.28,
          "end": 1610.52,
          "text": "same"
        },
        {
          "start": 1611.2,
          "end": 1611.28,
          "text": "P"
        },
        {
          "start": 1611.4,
          "end": 1611.48,
          "text": "and"
        },
        {
          "start": 1611.6,
          "end": 1611.68,
          "text": "L"
        },
        {
          "start": 1612.2,
          "end": 1612.32,
          "text": "at"
        },
        {
          "start": 1612.36,
          "end": 1612.44,
          "text": "the"
        },
        {
          "start": 1612.44,
          "end": 1612.68,
          "text": "top"
        },
        {
          "start": 1612.72,
          "end": 1612.96,
          "text": "line"
        },
        {
          "start": 1613.48,
          "end": 1613.68,
          "text": "as"
        },
        {
          "start": 1613.72,
          "end": 1613.8,
          "text": "the"
        },
        {
          "start": 1613.84,
          "end": 1614.32,
          "text": "investor."
        },
        {
          "start": 1614.52,
          "end": 1614.6,
          "text": "So"
        },
        {
          "start": 1615.16,
          "end": 1615.32,
          "text": "there"
        },
        {
          "start": 1615.4,
          "end": 1615.48,
          "text": "is"
        },
        {
          "start": 1615.52,
          "end": 1615.96,
          "text": "somebody"
        },
        {
          "start": 1616.0,
          "end": 1616.16,
          "text": "and"
        },
        {
          "start": 1616.2,
          "end": 1616.32,
          "text": "I"
        },
        {
          "start": 1616.32,
          "end": 1616.48,
          "text": "mean"
        },
        {
          "start": 1616.52,
          "end": 1616.8,
          "text": "people"
        },
        {
          "start": 1616.92,
          "end": 1617.0,
          "text": "do"
        },
        {
          "start": 1617.12,
          "end": 1617.28,
          "text": "talk"
        },
        {
          "start": 1617.32,
          "end": 1617.56,
          "text": "about"
        },
        {
          "start": 1617.56,
          "end": 1617.64,
          "text": "how"
        },
        {
          "start": 1617.72,
          "end": 1617.84,
          "text": "much"
        },
        {
          "start": 1617.84,
          "end": 1618.0,
          "text": "has"
        },
        {
          "start": 1618.0,
          "end": 1618.08,
          "text": "been"
        },
        {
          "start": 1618.12,
          "end": 1618.28,
          "text": "paid,"
        },
        {
          "start": 1618.28,
          "end": 1618.36,
          "text": "how"
        },
        {
          "start": 1618.44,
          "end": 1618.6,
          "text": "much"
        },
        {
          "start": 1618.6,
          "end": 1618.76,
          "text": "they"
        },
        {
          "start": 1618.76,
          "end": 1618.92,
          "text": "make"
        },
        {
          "start": 1618.96,
          "end": 1619.0,
          "text": "and"
        },
        {
          "start": 1619.04,
          "end": 1619.4,
          "text": "whatever."
        },
        {
          "start": 1619.6,
          "end": 1619.72,
          "text": "It's"
        },
        {
          "start": 1619.76,
          "end": 1619.8,
          "text": "a"
        },
        {
          "start": 1619.88,
          "end": 1619.96,
          "text": "an"
        },
        {
          "start": 1620.64,
          "end": 1620.72,
          "text": "like"
        },
        {
          "start": 1620.92,
          "end": 1621.08,
          "text": "I've"
        },
        {
          "start": 1621.12,
          "end": 1621.24,
          "text": "heard"
        },
        {
          "start": 1621.28,
          "end": 1621.36,
          "text": "it"
        },
        {
          "start": 1621.36,
          "end": 1621.8,
          "text": "described"
        },
        {
          "start": 1621.8,
          "end": 1621.96,
          "text": "as"
        },
        {
          "start": 1622.0,
          "end": 1622.08,
          "text": "the"
        },
        {
          "start": 1622.2,
          "end": 1622.48,
          "text": "worst"
        },
        {
          "start": 1622.52,
          "end": 1622.76,
          "text": "best"
        },
        {
          "start": 1622.8,
          "end": 1623.04,
          "text": "job"
        },
        {
          "start": 1623.04,
          "end": 1623.12,
          "text": "in"
        },
        {
          "start": 1623.16,
          "end": 1623.24,
          "text": "the"
        },
        {
          "start": 1623.24,
          "end": 1623.56,
          "text": "world,"
        },
        {
          "start": 1624.24,
          "end": 1624.32,
          "text": "but"
        },
        {
          "start": 1624.68,
          "end": 1624.88,
          "text": "it's"
        },
        {
          "start": 1624.88,
          "end": 1625.0,
          "text": "an"
        },
        {
          "start": 1625.0,
          "end": 1625.56,
          "text": "incredible"
        },
        {
          "start": 1626.32,
          "end": 1626.52,
          "text": "thing"
        },
        {
          "start": 1626.52,
          "end": 1626.64,
          "text": "of"
        },
        {
          "start": 1626.68,
          "end": 1627.24,
          "text": "coordination"
        },
        {
          "start": 1627.4,
          "end": 1627.44,
          "text": "and"
        },
        {
          "start": 1627.48,
          "end": 1627.76,
          "text": "getting"
        },
        {
          "start": 1627.76,
          "end": 1628.0,
          "text": "people"
        },
        {
          "start": 1628.0,
          "end": 1628.32,
          "text": "together."
        },
        {
          "start": 1628.64,
          "end": 1628.72,
          "text": "But"
        },
        {
          "start": 1628.8,
          "end": 1629.0,
          "text": "they're"
        },
        {
          "start": 1629.04,
          "end": 1629.36,
          "text": "actually"
        },
        {
          "start": 1629.36,
          "end": 1630.08,
          "text": "incentivized"
        },
        {
          "start": 1630.16,
          "end": 1630.24,
          "text": "and"
        },
        {
          "start": 1630.32,
          "end": 1630.36,
          "text": "in"
        },
        {
          "start": 1630.4,
          "end": 1630.8,
          "text": "aligned"
        },
        {
          "start": 1630.88,
          "end": 1631.16,
          "text": "within"
        },
        {
          "start": 1631.28,
          "end": 1631.76,
          "text": "allocator"
        },
        {
          "start": 1631.8,
          "end": 1631.88,
          "text": "and"
        },
        {
          "start": 1631.92,
          "end": 1631.96,
          "text": "to"
        },
        {
          "start": 1631.96,
          "end": 1632.12,
          "text": "give"
        },
        {
          "start": 1632.12,
          "end": 1632.24,
          "text": "them"
        },
        {
          "start": 1632.28,
          "end": 1632.4,
          "text": "their"
        },
        {
          "start": 1632.44,
          "end": 1632.6,
          "text": "due."
        },
        {
          "start": 1632.6,
          "end": 1632.68,
          "text": "They"
        },
        {
          "start": 1632.76,
          "end": 1632.84,
          "text": "do"
        },
        {
          "start": 1632.84,
          "end": 1633.0,
          "text": "their"
        },
        {
          "start": 1633.12,
          "end": 1633.32,
          "text": "best"
        },
        {
          "start": 1633.32,
          "end": 1633.4,
          "text": "to"
        },
        {
          "start": 1633.4,
          "end": 1633.52,
          "text": "do"
        },
        {
          "start": 1633.56,
          "end": 1633.68,
          "text": "that"
        },
        {
          "start": 1633.72,
          "end": 1633.96,
          "text": "because"
        },
        {
          "start": 1633.96,
          "end": 1634.08,
          "text": "they"
        },
        {
          "start": 1634.08,
          "end": 1634.24,
          "text": "are"
        },
        {
          "start": 1634.24,
          "end": 1634.64,
          "text": "conscious"
        },
        {
          "start": 1634.64,
          "end": 1634.72,
          "text": "of"
        },
        {
          "start": 1634.84,
          "end": 1635.12,
          "text": "keeping"
        },
        {
          "start": 1635.16,
          "end": 1635.44,
          "text": "costs"
        },
        {
          "start": 1635.48,
          "end": 1635.68,
          "text": "under"
        },
        {
          "start": 1635.72,
          "end": 1636.08,
          "text": "control"
        },
        {
          "start": 1636.12,
          "end": 1636.36,
          "text": "because"
        },
        {
          "start": 1636.36,
          "end": 1636.48,
          "text": "that's"
        },
        {
          "start": 1636.52,
          "end": 1636.68,
          "text": "their"
        },
        {
          "start": 1636.68,
          "end": 1636.96,
          "text": "profit"
        },
        {
          "start": 1637.0,
          "end": 1637.32,
          "text": "margin"
        },
        {
          "start": 1637.36,
          "end": 1637.52,
          "text": "that's"
        },
        {
          "start": 1637.56,
          "end": 1637.84,
          "text": "eating"
        },
        {
          "start": 1637.92,
          "end": 1638.12,
          "text": "into"
        },
        {
          "start": 1638.44,
          "end": 1638.52,
          "text": "I"
        },
        {
          "start": 1638.52,
          "end": 1638.64,
          "text": "mean"
        },
        {
          "start": 1638.68,
          "end": 1638.76,
          "text": "the"
        },
        {
          "start": 1638.8,
          "end": 1638.96,
          "text": "other"
        },
        {
          "start": 1639.04,
          "end": 1639.12,
          "text": "I"
        },
        {
          "start": 1639.12,
          "end": 1639.24,
          "text": "mean,"
        },
        {
          "start": 1639.24,
          "end": 1639.32,
          "text": "the"
        },
        {
          "start": 1639.32,
          "end": 1639.52,
          "text": "other"
        },
        {
          "start": 1639.56,
          "end": 1639.72,
          "text": "thing"
        },
        {
          "start": 1639.84,
          "end": 1639.92,
          "text": "is"
        },
        {
          "start": 1639.96,
          "end": 1640.2,
          "text": "which"
        },
        {
          "start": 1640.2,
          "end": 1640.28,
          "text": "is"
        },
        {
          "start": 1640.32,
          "end": 1640.44,
          "text": "kind"
        },
        {
          "start": 1640.48,
          "end": 1640.52,
          "text": "of"
        },
        {
          "start": 1640.52,
          "end": 1640.84,
          "text": "scary"
        },
        {
          "start": 1640.84,
          "end": 1640.88,
          "text": "for"
        },
        {
          "start": 1640.96,
          "end": 1641.6,
          "text": "allocators"
        },
        {
          "start": 1641.68,
          "end": 1641.84,
          "text": "is"
        },
        {
          "start": 1642.0,
          "end": 1642.08,
          "text": "the"
        },
        {
          "start": 1642.12,
          "end": 1642.36,
          "text": "extra"
        },
        {
          "start": 1642.44,
          "end": 1642.64,
          "text": "layer"
        },
        {
          "start": 1642.68,
          "end": 1642.76,
          "text": "of."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1642.72,
          "end": 1643.04,
          "text": "Fees,"
        },
        {
          "start": 1643.2,
          "end": 1643.44,
          "text": "right,"
        },
        {
          "start": 1643.96,
          "end": 1644.04,
          "text": "and"
        },
        {
          "start": 1644.08,
          "end": 1644.16,
          "text": "it"
        },
        {
          "start": 1644.2,
          "end": 1644.36,
          "text": "does"
        },
        {
          "start": 1644.4,
          "end": 1644.64,
          "text": "cost"
        },
        {
          "start": 1644.68,
          "end": 1644.96,
          "text": "money."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1645.24,
          "end": 1645.4,
          "text": "And"
        },
        {
          "start": 1645.64,
          "end": 1646.36,
          "text": "fundamentally"
        },
        {
          "start": 1646.4,
          "end": 1646.76,
          "text": "speaking,"
        },
        {
          "start": 1646.8,
          "end": 1646.88,
          "text": "the"
        },
        {
          "start": 1646.92,
          "end": 1647.12,
          "text": "other"
        },
        {
          "start": 1647.2,
          "end": 1647.36,
          "text": "thing"
        },
        {
          "start": 1647.4,
          "end": 1647.52,
          "text": "that"
        },
        {
          "start": 1647.56,
          "end": 1647.8,
          "text": "camp"
        },
        {
          "start": 1647.88,
          "end": 1647.92,
          "text": "is"
        },
        {
          "start": 1648.0,
          "end": 1648.28,
          "text": "driving"
        },
        {
          "start": 1648.32,
          "end": 1648.4,
          "text": "in"
        },
        {
          "start": 1648.4,
          "end": 1648.48,
          "text": "that"
        },
        {
          "start": 1648.6,
          "end": 1648.84,
          "text": "case"
        },
        {
          "start": 1649.4,
          "end": 1649.52,
          "text": "is"
        },
        {
          "start": 1649.76,
          "end": 1650.0,
          "text": "risk."
        },
        {
          "start": 1650.44,
          "end": 1650.6,
          "text": "Right,"
        },
        {
          "start": 1650.64,
          "end": 1650.8,
          "text": "they're"
        },
        {
          "start": 1650.88,
          "end": 1651.16,
          "text": "driving"
        },
        {
          "start": 1651.24,
          "end": 1651.68,
          "text": "leverage."
        },
        {
          "start": 1651.8,
          "end": 1652.0,
          "text": "We've"
        },
        {
          "start": 1652.0,
          "end": 1652.16,
          "text": "done"
        },
        {
          "start": 1652.16,
          "end": 1652.84,
          "text": "simulations"
        },
        {
          "start": 1653.04,
          "end": 1653.2,
          "text": "and"
        },
        {
          "start": 1654.04,
          "end": 1654.12,
          "text": "a"
        },
        {
          "start": 1654.64,
          "end": 1654.88,
          "text": "pass"
        },
        {
          "start": 1654.92,
          "end": 1655.12,
          "text": "through"
        },
        {
          "start": 1655.16,
          "end": 1655.56,
          "text": "manager"
        },
        {
          "start": 1655.68,
          "end": 1655.84,
          "text": "has"
        },
        {
          "start": 1655.92,
          "end": 1656.0,
          "text": "to"
        },
        {
          "start": 1656.04,
          "end": 1656.12,
          "text": "be"
        },
        {
          "start": 1656.24,
          "end": 1656.6,
          "text": "around"
        },
        {
          "start": 1656.76,
          "end": 1657.0,
          "text": "one"
        },
        {
          "start": 1657.12,
          "end": 1657.36,
          "text": "third"
        },
        {
          "start": 1657.56,
          "end": 1657.72,
          "text": "more"
        },
        {
          "start": 1657.8,
          "end": 1658.16,
          "text": "leverage"
        },
        {
          "start": 1658.68,
          "end": 1658.84,
          "text": "than"
        },
        {
          "start": 1658.88,
          "end": 1659.0,
          "text": "then"
        },
        {
          "start": 1659.0,
          "end": 1659.08,
          "text": "the"
        },
        {
          "start": 1659.12,
          "end": 1659.24,
          "text": "two"
        },
        {
          "start": 1659.32,
          "end": 1659.52,
          "text": "layer"
        },
        {
          "start": 1659.56,
          "end": 1659.6,
          "text": "of"
        },
        {
          "start": 1659.6,
          "end": 1659.84,
          "text": "fees"
        },
        {
          "start": 1659.84,
          "end": 1660.0,
          "text": "two"
        },
        {
          "start": 1660.04,
          "end": 1660.08,
          "text": "and"
        },
        {
          "start": 1660.12,
          "end": 1660.4,
          "text": "twenty"
        },
        {
          "start": 1660.44,
          "end": 1661.0,
          "text": "manager."
        },
        {
          "start": 1661.16,
          "end": 1661.24,
          "text": "I"
        },
        {
          "start": 1661.24,
          "end": 1661.48,
          "text": "mean"
        },
        {
          "start": 1661.6,
          "end": 1661.84,
          "text": "they"
        },
        {
          "start": 1661.96,
          "end": 1662.16,
          "text": "have"
        },
        {
          "start": 1662.28,
          "end": 1662.36,
          "text": "to"
        },
        {
          "start": 1662.4,
          "end": 1662.56,
          "text": "be"
        },
        {
          "start": 1662.56,
          "end": 1662.88,
          "text": "because"
        },
        {
          "start": 1662.92,
          "end": 1663.08,
          "text": "they"
        },
        {
          "start": 1663.08,
          "end": 1663.2,
          "text": "have"
        },
        {
          "start": 1663.28,
          "end": 1663.36,
          "text": "to"
        },
        {
          "start": 1663.4,
          "end": 1663.56,
          "text": "make"
        },
        {
          "start": 1663.64,
          "end": 1663.8,
          "text": "more"
        },
        {
          "start": 1663.84,
          "end": 1664.12,
          "text": "money"
        },
        {
          "start": 1664.12,
          "end": 1664.2,
          "text": "to"
        },
        {
          "start": 1664.24,
          "end": 1664.48,
          "text": "pay"
        },
        {
          "start": 1664.48,
          "end": 1664.64,
          "text": "that"
        },
        {
          "start": 1664.72,
          "end": 1665.0,
          "text": "extra"
        },
        {
          "start": 1665.04,
          "end": 1665.32,
          "text": "cache"
        },
        {
          "start": 1665.32,
          "end": 1665.6,
          "text": "out"
        },
        {
          "start": 1665.92,
          "end": 1666.04,
          "text": "and"
        },
        {
          "start": 1666.08,
          "end": 1666.2,
          "text": "it"
        },
        {
          "start": 1666.24,
          "end": 1666.88,
          "text": "costs."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1666.6,
          "end": 1666.8,
          "text": "Real"
        },
        {
          "start": 1666.84,
          "end": 1667.12,
          "text": "money"
        },
        {
          "start": 1667.16,
          "end": 1667.24,
          "text": "to"
        },
        {
          "start": 1667.28,
          "end": 1667.36,
          "text": "do"
        },
        {
          "start": 1667.44,
          "end": 1667.6,
          "text": "that."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1668.32,
          "end": 1668.52,
          "text": "And"
        },
        {
          "start": 1668.68,
          "end": 1668.76,
          "text": "you"
        },
        {
          "start": 1668.8,
          "end": 1668.92,
          "text": "know,"
        },
        {
          "start": 1670.12,
          "end": 1670.2,
          "text": "you"
        },
        {
          "start": 1670.24,
          "end": 1670.32,
          "text": "know,"
        },
        {
          "start": 1670.36,
          "end": 1670.44,
          "text": "in"
        },
        {
          "start": 1670.44,
          "end": 1670.6,
          "text": "one"
        },
        {
          "start": 1670.64,
          "end": 1670.88,
          "text": "sense,"
        },
        {
          "start": 1670.88,
          "end": 1671.12,
          "text": "price"
        },
        {
          "start": 1671.16,
          "end": 1671.2,
          "text": "is"
        },
        {
          "start": 1671.24,
          "end": 1671.32,
          "text": "what"
        },
        {
          "start": 1671.36,
          "end": 1671.4,
          "text": "you"
        },
        {
          "start": 1671.44,
          "end": 1671.6,
          "text": "pay,"
        },
        {
          "start": 1671.68,
          "end": 1671.96,
          "text": "values"
        },
        {
          "start": 1672.0,
          "end": 1672.08,
          "text": "what"
        },
        {
          "start": 1672.12,
          "end": 1672.2,
          "text": "you"
        },
        {
          "start": 1672.24,
          "end": 1672.4,
          "text": "get."
        },
        {
          "start": 1672.48,
          "end": 1672.84,
          "text": "Returns"
        },
        {
          "start": 1672.88,
          "end": 1672.92,
          "text": "have"
        },
        {
          "start": 1672.96,
          "end": 1673.08,
          "text": "been"
        },
        {
          "start": 1673.12,
          "end": 1673.32,
          "text": "really"
        },
        {
          "start": 1673.32,
          "end": 1673.52,
          "text": "good"
        },
        {
          "start": 1673.56,
          "end": 1673.92,
          "text": "because"
        },
        {
          "start": 1674.04,
          "end": 1674.16,
          "text": "of"
        },
        {
          "start": 1674.28,
          "end": 1674.72,
          "text": "the"
        },
        {
          "start": 1674.76,
          "end": 1675.0,
          "text": "pass"
        },
        {
          "start": 1675.0,
          "end": 1675.16,
          "text": "through"
        },
        {
          "start": 1675.2,
          "end": 1675.48,
          "text": "manager"
        },
        {
          "start": 1675.52,
          "end": 1675.64,
          "text": "has"
        },
        {
          "start": 1675.64,
          "end": 1675.76,
          "text": "been"
        },
        {
          "start": 1675.76,
          "end": 1675.84,
          "text": "a"
        },
        {
          "start": 1675.84,
          "end": 1675.96,
          "text": "really"
        },
        {
          "start": 1676.0,
          "end": 1676.36,
          "text": "effective"
        },
        {
          "start": 1676.36,
          "end": 1676.64,
          "text": "business"
        },
        {
          "start": 1676.64,
          "end": 1676.84,
          "text": "model"
        },
        {
          "start": 1676.88,
          "end": 1677.28,
          "text": "investing"
        },
        {
          "start": 1677.32,
          "end": 1677.56,
          "text": "side."
        },
        {
          "start": 1677.68,
          "end": 1678.76,
          "text": "Yeah,"
        },
        {
          "start": 1678.88,
          "end": 1678.96,
          "text": "but"
        },
        {
          "start": 1679.12,
          "end": 1679.32,
          "text": "yeah,"
        },
        {
          "start": 1679.4,
          "end": 1679.48,
          "text": "I"
        },
        {
          "start": 1679.48,
          "end": 1679.64,
          "text": "mean"
        },
        {
          "start": 1680.04,
          "end": 1680.52,
          "text": "alecators"
        },
        {
          "start": 1680.56,
          "end": 1680.64,
          "text": "do"
        },
        {
          "start": 1680.64,
          "end": 1680.92,
          "text": "complain"
        },
        {
          "start": 1680.96,
          "end": 1681.2,
          "text": "about"
        },
        {
          "start": 1681.2,
          "end": 1681.24,
          "text": "the"
        },
        {
          "start": 1681.28,
          "end": 1681.52,
          "text": "cost."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1682.76,
          "end": 1682.92,
          "text": "It's"
        },
        {
          "start": 1682.92,
          "end": 1683.16,
          "text": "something"
        },
        {
          "start": 1683.2,
          "end": 1683.36,
          "text": "I'm"
        },
        {
          "start": 1683.4,
          "end": 1683.68,
          "text": "curious"
        },
        {
          "start": 1683.72,
          "end": 1683.96,
          "text": "about"
        },
        {
          "start": 1684.0,
          "end": 1684.08,
          "text": "with"
        },
        {
          "start": 1684.12,
          "end": 1684.2,
          "text": "the"
        },
        {
          "start": 1684.32,
          "end": 1684.48,
          "text": "very"
        },
        {
          "start": 1684.48,
          "end": 1685.12,
          "text": "traditional"
        },
        {
          "start": 1685.32,
          "end": 1685.64,
          "text": "hedge"
        },
        {
          "start": 1685.64,
          "end": 1686.0,
          "text": "fund"
        },
        {
          "start": 1686.36,
          "end": 1686.76,
          "text": "model,"
        },
        {
          "start": 1687.08,
          "end": 1687.28,
          "text": "which"
        },
        {
          "start": 1687.32,
          "end": 1687.4,
          "text": "you"
        },
        {
          "start": 1687.56,
          "end": 1687.96,
          "text": "described"
        },
        {
          "start": 1688.16,
          "end": 1688.36,
          "text": "very"
        },
        {
          "start": 1688.64,
          "end": 1688.72,
          "text": "a"
        },
        {
          "start": 1688.72,
          "end": 1688.92,
          "text": "good"
        },
        {
          "start": 1689.0,
          "end": 1689.56,
          "text": "articulation."
        },
        {
          "start": 1689.64,
          "end": 1689.8,
          "text": "If"
        },
        {
          "start": 1689.8,
          "end": 1689.96,
          "text": "I'm"
        },
        {
          "start": 1690.0,
          "end": 1690.28,
          "text": "an"
        },
        {
          "start": 1690.52,
          "end": 1691.12,
          "text": "institutional"
        },
        {
          "start": 1691.16,
          "end": 1691.68,
          "text": "allocator,"
        },
        {
          "start": 1691.72,
          "end": 1691.92,
          "text": "I'm"
        },
        {
          "start": 1691.92,
          "end": 1692.6,
          "text": "diversified."
        },
        {
          "start": 1692.6,
          "end": 1693.0,
          "text": "Therefore,"
        },
        {
          "start": 1693.04,
          "end": 1693.12,
          "text": "I"
        },
        {
          "start": 1693.16,
          "end": 1693.44,
          "text": "want"
        },
        {
          "start": 1693.44,
          "end": 1693.52,
          "text": "my"
        },
        {
          "start": 1693.6,
          "end": 1694.24,
          "text": "allocations"
        },
        {
          "start": 1694.24,
          "end": 1694.36,
          "text": "to"
        },
        {
          "start": 1694.4,
          "end": 1694.56,
          "text": "take"
        },
        {
          "start": 1694.68,
          "end": 1694.92,
          "text": "max"
        },
        {
          "start": 1695.04,
          "end": 1695.28,
          "text": "risk."
        },
        {
          "start": 1695.6,
          "end": 1695.68,
          "text": "The"
        },
        {
          "start": 1695.8,
          "end": 1696.6,
          "text": "individual"
        },
        {
          "start": 1696.72,
          "end": 1697.0,
          "text": "hedge"
        },
        {
          "start": 1697.0,
          "end": 1697.24,
          "text": "fund"
        },
        {
          "start": 1697.32,
          "end": 1697.76,
          "text": "manager"
        },
        {
          "start": 1698.16,
          "end": 1698.4,
          "text": "might"
        },
        {
          "start": 1698.44,
          "end": 1698.52,
          "text": "not"
        },
        {
          "start": 1698.64,
          "end": 1698.84,
          "text": "want"
        },
        {
          "start": 1698.88,
          "end": 1698.96,
          "text": "to"
        },
        {
          "start": 1699.0,
          "end": 1699.2,
          "text": "take"
        },
        {
          "start": 1699.32,
          "end": 1699.6,
          "text": "mask"
        },
        {
          "start": 1700.12,
          "end": 1700.36,
          "text": "max"
        },
        {
          "start": 1700.44,
          "end": 1700.64,
          "text": "risk"
        },
        {
          "start": 1700.68,
          "end": 1700.92,
          "text": "because"
        },
        {
          "start": 1700.92,
          "end": 1701.08,
          "text": "it's"
        },
        {
          "start": 1701.08,
          "end": 1701.2,
          "text": "their"
        },
        {
          "start": 1701.24,
          "end": 1701.48,
          "text": "whole"
        },
        {
          "start": 1701.52,
          "end": 1701.92,
          "text": "career"
        },
        {
          "start": 1702.32,
          "end": 1702.4,
          "text": "and"
        },
        {
          "start": 1702.56,
          "end": 1702.8,
          "text": "name"
        },
        {
          "start": 1702.92,
          "end": 1703.04,
          "text": "on"
        },
        {
          "start": 1703.08,
          "end": 1703.16,
          "text": "the"
        },
        {
          "start": 1703.2,
          "end": 1703.56,
          "text": "line."
        },
        {
          "start": 1703.64,
          "end": 1703.76,
          "text": "What"
        },
        {
          "start": 1703.92,
          "end": 1704.0,
          "text": "is"
        },
        {
          "start": 1704.24,
          "end": 1704.76,
          "text": "actually"
        },
        {
          "start": 1704.84,
          "end": 1705.0,
          "text": "the"
        },
        {
          "start": 1705.04,
          "end": 1705.8,
          "text": "expectation"
        },
        {
          "start": 1706.64,
          "end": 1706.72,
          "text": "in"
        },
        {
          "start": 1706.76,
          "end": 1706.84,
          "text": "the"
        },
        {
          "start": 1706.88,
          "end": 1707.08,
          "text": "sort"
        },
        {
          "start": 1707.08,
          "end": 1707.16,
          "text": "of"
        },
        {
          "start": 1707.16,
          "end": 1707.68,
          "text": "traditional"
        },
        {
          "start": 1707.68,
          "end": 1707.92,
          "text": "hedge"
        },
        {
          "start": 1707.92,
          "end": 1708.2,
          "text": "fund"
        },
        {
          "start": 1708.2,
          "end": 1708.52,
          "text": "model"
        },
        {
          "start": 1708.56,
          "end": 1708.64,
          "text": "for"
        },
        {
          "start": 1708.76,
          "end": 1708.88,
          "text": "like,"
        },
        {
          "start": 1709.28,
          "end": 1709.44,
          "text": "how"
        },
        {
          "start": 1709.56,
          "end": 1709.8,
          "text": "much"
        },
        {
          "start": 1709.84,
          "end": 1709.92,
          "text": "of"
        },
        {
          "start": 1709.96,
          "end": 1710.16,
          "text": "the"
        },
        {
          "start": 1710.4,
          "end": 1710.92,
          "text": "manager's"
        },
        {
          "start": 1710.96,
          "end": 1711.08,
          "text": "net"
        },
        {
          "start": 1711.16,
          "end": 1711.4,
          "text": "worth"
        },
        {
          "start": 1711.48,
          "end": 1711.56,
          "text": "is"
        },
        {
          "start": 1711.56,
          "end": 1711.64,
          "text": "in"
        },
        {
          "start": 1711.68,
          "end": 1711.8,
          "text": "the"
        },
        {
          "start": 1711.8,
          "end": 1712.08,
          "text": "fund"
        },
        {
          "start": 1712.08,
          "end": 1712.16,
          "text": "and"
        },
        {
          "start": 1712.2,
          "end": 1712.32,
          "text": "how"
        },
        {
          "start": 1712.32,
          "end": 1712.4,
          "text": "do"
        },
        {
          "start": 1712.44,
          "end": 1712.48,
          "text": "you"
        },
        {
          "start": 1712.6,
          "end": 1713.08,
          "text": "establish"
        },
        {
          "start": 1713.2,
          "end": 1713.28,
          "text": "that?"
        },
        {
          "start": 1713.48,
          "end": 1713.6,
          "text": "And"
        },
        {
          "start": 1713.76,
          "end": 1713.92,
          "text": "by"
        },
        {
          "start": 1713.92,
          "end": 1713.96,
          "text": "the"
        },
        {
          "start": 1714.0,
          "end": 1714.16,
          "text": "way,"
        },
        {
          "start": 1714.2,
          "end": 1714.36,
          "text": "if"
        },
        {
          "start": 1714.36,
          "end": 1714.44,
          "text": "I"
        },
        {
          "start": 1714.48,
          "end": 1714.6,
          "text": "were"
        },
        {
          "start": 1714.64,
          "end": 1714.8,
          "text": "a"
        },
        {
          "start": 1714.8,
          "end": 1715.04,
          "text": "hedge"
        },
        {
          "start": 1715.04,
          "end": 1715.24,
          "text": "fund"
        },
        {
          "start": 1715.28,
          "end": 1715.56,
          "text": "manager"
        },
        {
          "start": 1715.6,
          "end": 1715.72,
          "text": "had"
        },
        {
          "start": 1715.72,
          "end": 1715.88,
          "text": "done"
        },
        {
          "start": 1715.92,
          "end": 1716.12,
          "text": "really"
        },
        {
          "start": 1716.16,
          "end": 1716.44,
          "text": "well,"
        },
        {
          "start": 1716.76,
          "end": 1716.8,
          "text": "I"
        },
        {
          "start": 1716.84,
          "end": 1717.04,
          "text": "would"
        },
        {
          "start": 1717.08,
          "end": 1717.28,
          "text": "buy"
        },
        {
          "start": 1717.32,
          "end": 1717.4,
          "text": "a"
        },
        {
          "start": 1717.4,
          "end": 1717.6,
          "text": "lot"
        },
        {
          "start": 1717.64,
          "end": 1717.72,
          "text": "of"
        },
        {
          "start": 1717.76,
          "end": 1718.32,
          "text": "mansions"
        },
        {
          "start": 1718.52,
          "end": 1718.72,
          "text": "and"
        },
        {
          "start": 1719.0,
          "end": 1719.4,
          "text": "yachts"
        },
        {
          "start": 1719.4,
          "end": 1719.48,
          "text": "and"
        },
        {
          "start": 1719.52,
          "end": 1719.88,
          "text": "stuff"
        },
        {
          "start": 1720.04,
          "end": 1720.16,
          "text": "so"
        },
        {
          "start": 1720.2,
          "end": 1720.28,
          "text": "that"
        },
        {
          "start": 1720.32,
          "end": 1720.48,
          "text": "if"
        },
        {
          "start": 1720.48,
          "end": 1720.56,
          "text": "my"
        },
        {
          "start": 1720.6,
          "end": 1720.88,
          "text": "fund"
        },
        {
          "start": 1720.88,
          "end": 1721.04,
          "text": "ever"
        },
        {
          "start": 1721.08,
          "end": 1721.24,
          "text": "went"
        },
        {
          "start": 1721.28,
          "end": 1721.36,
          "text": "to"
        },
        {
          "start": 1721.44,
          "end": 1722.28,
          "text": "zero,"
        },
        {
          "start": 1722.52,
          "end": 1722.6,
          "text": "I"
        },
        {
          "start": 1722.68,
          "end": 1722.88,
          "text": "still"
        },
        {
          "start": 1723.08,
          "end": 1723.12,
          "text": "have"
        },
        {
          "start": 1723.2,
          "end": 1723.28,
          "text": "a"
        },
        {
          "start": 1723.28,
          "end": 1723.44,
          "text": "lot"
        },
        {
          "start": 1723.48,
          "end": 1723.56,
          "text": "of"
        },
        {
          "start": 1723.6,
          "end": 1723.92,
          "text": "wealth."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1724.6,
          "end": 1724.76,
          "text": "You've"
        },
        {
          "start": 1724.76,
          "end": 1725.0,
          "text": "thought"
        },
        {
          "start": 1725.0,
          "end": 1725.04,
          "text": "this"
        },
        {
          "start": 1725.2,
          "end": 1725.4,
          "text": "through,"
        },
        {
          "start": 1725.44,
          "end": 1725.68,
          "text": "jah,"
        },
        {
          "start": 1725.8,
          "end": 1726.04,
          "text": "Yeah,"
        },
        {
          "start": 1726.52,
          "end": 1726.92,
          "text": "mentions"
        },
        {
          "start": 1726.92,
          "end": 1727.16,
          "text": "where"
        },
        {
          "start": 1727.72,
          "end": 1727.84,
          "text": "in"
        },
        {
          "start": 1727.84,
          "end": 1728.72,
          "text": "particular."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1728.64,
          "end": 1729.12,
          "text": "Miami,"
        },
        {
          "start": 1729.88,
          "end": 1730.36,
          "text": "Aspen,"
        },
        {
          "start": 1731.2,
          "end": 1731.56,
          "text": "the"
        },
        {
          "start": 1731.6,
          "end": 1731.92,
          "text": "Golf"
        },
        {
          "start": 1731.96,
          "end": 1732.72,
          "text": "States,"
        },
        {
          "start": 1732.96,
          "end": 1733.12,
          "text": "New"
        },
        {
          "start": 1733.16,
          "end": 1733.4,
          "text": "York"
        },
        {
          "start": 1733.44,
          "end": 1734.56,
          "text": "City"
        },
        {
          "start": 1734.16,
          "end": 1734.2,
          "text": "and"
        },
        {
          "start": 1734.56,
          "end": 1734.84,
          "text": "anyway."
        },
        {
          "start": 1735.56,
          "end": 1735.68,
          "text": "But"
        },
        {
          "start": 1735.72,
          "end": 1735.84,
          "text": "like,"
        },
        {
          "start": 1735.84,
          "end": 1736.0,
          "text": "how"
        },
        {
          "start": 1736.0,
          "end": 1736.08,
          "text": "do"
        },
        {
          "start": 1736.2,
          "end": 1736.36,
          "text": "they"
        },
        {
          "start": 1736.48,
          "end": 1736.56,
          "text": "like,"
        },
        {
          "start": 1736.84,
          "end": 1737.04,
          "text": "how"
        },
        {
          "start": 1737.08,
          "end": 1737.24,
          "text": "do"
        },
        {
          "start": 1737.28,
          "end": 1737.4,
          "text": "you"
        },
        {
          "start": 1737.76,
          "end": 1737.96,
          "text": "how"
        },
        {
          "start": 1737.96,
          "end": 1738.0,
          "text": "do"
        },
        {
          "start": 1738.12,
          "end": 1738.24,
          "text": "they"
        },
        {
          "start": 1738.28,
          "end": 1738.68,
          "text": "actually"
        },
        {
          "start": 1738.8,
          "end": 1739.28,
          "text": "establish"
        },
        {
          "start": 1739.48,
          "end": 1739.56,
          "text": "that"
        },
        {
          "start": 1739.64,
          "end": 1739.72,
          "text": "the"
        },
        {
          "start": 1739.76,
          "end": 1740.08,
          "text": "man"
        },
        {
          "start": 1740.48,
          "end": 1740.6,
          "text": "is"
        },
        {
          "start": 1740.64,
          "end": 1740.96,
          "text": "fully"
        },
        {
          "start": 1741.2,
          "end": 1741.76,
          "text": "aligned"
        },
        {
          "start": 1741.88,
          "end": 1742.0,
          "text": "with"
        },
        {
          "start": 1742.04,
          "end": 1742.12,
          "text": "the"
        },
        {
          "start": 1742.16,
          "end": 1742.6,
          "text": "performance"
        },
        {
          "start": 1742.64,
          "end": 1742.68,
          "text": "of"
        },
        {
          "start": 1742.68,
          "end": 1742.84,
          "text": "their"
        },
        {
          "start": 1742.84,
          "end": 1743.04,
          "text": "fund."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1743.24,
          "end": 1743.44,
          "text": "So"
        },
        {
          "start": 1743.68,
          "end": 1743.92,
          "text": "that"
        },
        {
          "start": 1744.48,
          "end": 1744.6,
          "text": "is"
        },
        {
          "start": 1744.64,
          "end": 1744.84,
          "text": "a"
        },
        {
          "start": 1744.88,
          "end": 1745.32,
          "text": "really"
        },
        {
          "start": 1745.52,
          "end": 1745.8,
          "text": "really"
        },
        {
          "start": 1745.84,
          "end": 1746.04,
          "text": "good"
        },
        {
          "start": 1746.12,
          "end": 1746.4,
          "text": "question"
        },
        {
          "start": 1746.48,
          "end": 1746.72,
          "text": "because"
        },
        {
          "start": 1746.76,
          "end": 1747.2,
          "text": "opinions"
        },
        {
          "start": 1747.24,
          "end": 1747.44,
          "text": "really"
        },
        {
          "start": 1747.52,
          "end": 1747.76,
          "text": "vary"
        },
        {
          "start": 1747.8,
          "end": 1748.0,
          "text": "there,"
        },
        {
          "start": 1748.56,
          "end": 1748.84,
          "text": "right,"
        },
        {
          "start": 1749.0,
          "end": 1749.2,
          "text": "And"
        },
        {
          "start": 1749.64,
          "end": 1749.76,
          "text": "the"
        },
        {
          "start": 1749.8,
          "end": 1750.68,
          "text": "standard"
        },
        {
          "start": 1751.28,
          "end": 1751.6,
          "text": "answer"
        },
        {
          "start": 1751.64,
          "end": 1751.68,
          "text": "to"
        },
        {
          "start": 1751.76,
          "end": 1751.84,
          "text": "that"
        },
        {
          "start": 1751.92,
          "end": 1752.28,
          "text": "question"
        },
        {
          "start": 1752.6,
          "end": 1752.72,
          "text": "is"
        },
        {
          "start": 1752.84,
          "end": 1752.96,
          "text": "the"
        },
        {
          "start": 1753.0,
          "end": 1753.48,
          "text": "majority"
        },
        {
          "start": 1753.52,
          "end": 1753.6,
          "text": "of"
        },
        {
          "start": 1753.6,
          "end": 1753.68,
          "text": "the"
        },
        {
          "start": 1753.72,
          "end": 1754.2,
          "text": "manager's"
        },
        {
          "start": 1754.24,
          "end": 1754.6,
          "text": "liquid"
        },
        {
          "start": 1754.64,
          "end": 1754.8,
          "text": "net"
        },
        {
          "start": 1754.8,
          "end": 1755.08,
          "text": "worth"
        },
        {
          "start": 1755.52,
          "end": 1755.68,
          "text": "and"
        },
        {
          "start": 1755.84,
          "end": 1755.92,
          "text": "you"
        },
        {
          "start": 1755.96,
          "end": 1756.16,
          "text": "can"
        },
        {
          "start": 1756.2,
          "end": 1756.52,
          "text": "define"
        },
        {
          "start": 1756.52,
          "end": 1756.6,
          "text": "that"
        },
        {
          "start": 1756.64,
          "end": 1756.96,
          "text": "whichever"
        },
        {
          "start": 1757.0,
          "end": 1757.16,
          "text": "way"
        },
        {
          "start": 1757.16,
          "end": 1757.24,
          "text": "you"
        },
        {
          "start": 1757.28,
          "end": 1757.48,
          "text": "want."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 1758.32,
          "end": 1758.4,
          "text": "Is"
        },
        {
          "start": 1758.44,
          "end": 1758.56,
          "text": "their"
        },
        {
          "start": 1758.6,
          "end": 1758.76,
          "text": "way"
        },
        {
          "start": 1758.76,
          "end": 1758.84,
          "text": "to"
        },
        {
          "start": 1758.88,
          "end": 1759.16,
          "text": "audit"
        },
        {
          "start": 1759.24,
          "end": 1759.4,
          "text": "there."
        },
        {
          "start": 1760.0,
          "end": 1760.08,
          "text": "I"
        },
        {
          "start": 1760.12,
          "end": 1760.24,
          "text": "mean,"
        },
        {
          "start": 1760.6,
          "end": 1760.64,
          "text": "I"
        },
        {
          "start": 1760.68,
          "end": 1760.88,
          "text": "say,"
        },
        {
          "start": 1760.88,
          "end": 1761.08,
          "text": "hey,"
        },
        {
          "start": 1761.28,
          "end": 1761.48,
          "text": "look,"
        },
        {
          "start": 1761.48,
          "end": 1761.56,
          "text": "I"
        },
        {
          "start": 1761.6,
          "end": 1761.68,
          "text": "have"
        },
        {
          "start": 1761.72,
          "end": 1761.8,
          "text": "it"
        },
        {
          "start": 1761.84,
          "end": 1761.92,
          "text": "all"
        },
        {
          "start": 1761.96,
          "end": 1762.0,
          "text": "on"
        },
        {
          "start": 1762.12,
          "end": 1762.16,
          "text": "my"
        },
        {
          "start": 1762.24,
          "end": 1762.56,
          "text": "fund."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1762.96,
          "end": 1763.04,
          "text": "You"
        },
        {
          "start": 1763.04,
          "end": 1763.16,
          "text": "can,"
        },
        {
          "start": 1763.28,
          "end": 1763.32,
          "text": "you"
        },
        {
          "start": 1763.32,
          "end": 1763.48,
          "text": "can"
        },
        {
          "start": 1763.48,
          "end": 1763.56,
          "text": "have"
        },
        {
          "start": 1763.6,
          "end": 1763.64,
          "text": "to"
        },
        {
          "start": 1763.68,
          "end": 1764.0,
          "text": "admin."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1764.48,
          "end": 1764.56,
          "text": "The"
        },
        {
          "start": 1764.6,
          "end": 1764.96,
          "text": "manager"
        },
        {
          "start": 1764.96,
          "end": 1765.08,
          "text": "can"
        },
        {
          "start": 1765.12,
          "end": 1765.68,
          "text": "authorize"
        },
        {
          "start": 1765.68,
          "end": 1765.84,
          "text": "the"
        },
        {
          "start": 1765.88,
          "end": 1766.56,
          "text": "administrator"
        },
        {
          "start": 1766.56,
          "end": 1766.6,
          "text": "of"
        },
        {
          "start": 1766.68,
          "end": 1766.76,
          "text": "the"
        },
        {
          "start": 1766.76,
          "end": 1767.04,
          "text": "fund"
        },
        {
          "start": 1767.2,
          "end": 1767.64,
          "text": "to"
        },
        {
          "start": 1767.68,
          "end": 1768.08,
          "text": "disclod"
        },
        {
          "start": 1768.16,
          "end": 1768.28,
          "text": "their"
        },
        {
          "start": 1768.28,
          "end": 1768.72,
          "text": "investment"
        },
        {
          "start": 1768.76,
          "end": 1768.8,
          "text": "in"
        },
        {
          "start": 1768.84,
          "end": 1768.92,
          "text": "the"
        },
        {
          "start": 1768.96,
          "end": 1769.2,
          "text": "fund"
        },
        {
          "start": 1769.24,
          "end": 1769.32,
          "text": "to"
        },
        {
          "start": 1769.4,
          "end": 1769.48,
          "text": "you"
        },
        {
          "start": 1769.92,
          "end": 1770.08,
          "text": "if"
        },
        {
          "start": 1770.08,
          "end": 1770.16,
          "text": "you"
        },
        {
          "start": 1770.2,
          "end": 1770.36,
          "text": "ask"
        },
        {
          "start": 1770.36,
          "end": 1770.48,
          "text": "them"
        },
        {
          "start": 1770.56,
          "end": 1770.84,
          "text": "nicely."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 1771.04,
          "end": 1771.16,
          "text": "They"
        },
        {
          "start": 1771.2,
          "end": 1771.4,
          "text": "don't"
        },
        {
          "start": 1771.44,
          "end": 1771.56,
          "text": "know"
        },
        {
          "start": 1771.6,
          "end": 1771.68,
          "text": "that"
        },
        {
          "start": 1771.8,
          "end": 1771.92,
          "text": "I"
        },
        {
          "start": 1772.0,
          "end": 1772.24,
          "text": "have."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1772.4,
          "end": 1772.56,
          "text": "They"
        },
        {
          "start": 1772.56,
          "end": 1772.96,
          "text": "wouldn't"
        },
        {
          "start": 1772.96,
          "end": 1773.04,
          "text": "know"
        },
        {
          "start": 1773.08,
          "end": 1773.2,
          "text": "if"
        },
        {
          "start": 1773.24,
          "end": 1773.32,
          "text": "I"
        },
        {
          "start": 1773.36,
          "end": 1773.56,
          "text": "had"
        },
        {
          "start": 1773.8,
          "end": 1773.88,
          "text": "a"
        },
        {
          "start": 1773.92,
          "end": 1774.24,
          "text": "billion"
        },
        {
          "start": 1774.28,
          "end": 1774.6,
          "text": "dollars"
        },
        {
          "start": 1774.6,
          "end": 1774.68,
          "text": "in"
        },
        {
          "start": 1774.72,
          "end": 1775.16,
          "text": "bitcoin"
        },
        {
          "start": 1775.2,
          "end": 1775.28,
          "text": "on"
        },
        {
          "start": 1775.32,
          "end": 1775.4,
          "text": "a"
        },
        {
          "start": 1775.4,
          "end": 1775.72,
          "text": "private"
        },
        {
          "start": 1775.76,
          "end": 1776.12,
          "text": "wallet."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 1776.16,
          "end": 1776.36,
          "text": "That's"
        },
        {
          "start": 1776.4,
          "end": 1776.48,
          "text": "not"
        },
        {
          "start": 1776.76,
          "end": 1777.0,
          "text": "any"
        },
        {
          "start": 1777.32,
          "end": 1777.56,
          "text": "any"
        },
        {
          "start": 1777.64,
          "end": 1777.84,
          "text": "key."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1777.88,
          "end": 1778.04,
          "text": "I'm"
        },
        {
          "start": 1778.08,
          "end": 1778.16,
          "text": "just"
        },
        {
          "start": 1778.2,
          "end": 1778.48,
          "text": "saying"
        },
        {
          "start": 1779.0,
          "end": 1779.08,
          "text": "I"
        },
        {
          "start": 1779.12,
          "end": 1779.56,
          "text": "would"
        },
        {
          "start": 1779.72,
          "end": 1779.92,
          "text": "when"
        },
        {
          "start": 1779.96,
          "end": 1780.04,
          "text": "I"
        },
        {
          "start": 1780.12,
          "end": 1780.32,
          "text": "hear"
        },
        {
          "start": 1780.4,
          "end": 1780.56,
          "text": "this,"
        },
        {
          "start": 1781.2,
          "end": 1781.28,
          "text": "I"
        },
        {
          "start": 1781.32,
          "end": 1781.52,
          "text": "saw"
        },
        {
          "start": 1781.56,
          "end": 1781.64,
          "text": "this"
        },
        {
          "start": 1781.72,
          "end": 1781.8,
          "text": "in"
        },
        {
          "start": 1781.84,
          "end": 1782.0,
          "text": "your"
        },
        {
          "start": 1782.0,
          "end": 1782.4,
          "text": "notes."
        },
        {
          "start": 1782.6,
          "end": 1782.76,
          "text": "When"
        },
        {
          "start": 1782.8,
          "end": 1782.92,
          "text": "I"
        },
        {
          "start": 1782.96,
          "end": 1783.16,
          "text": "hear"
        },
        {
          "start": 1783.2,
          "end": 1783.32,
          "text": "this,"
        },
        {
          "start": 1783.48,
          "end": 1783.56,
          "text": "my"
        },
        {
          "start": 1783.64,
          "end": 1783.92,
          "text": "first"
        },
        {
          "start": 1783.96,
          "end": 1784.24,
          "text": "mind"
        },
        {
          "start": 1784.32,
          "end": 1784.52,
          "text": "goes"
        },
        {
          "start": 1784.52,
          "end": 1784.64,
          "text": "to"
        },
        {
          "start": 1784.72,
          "end": 1784.92,
          "text": "how"
        },
        {
          "start": 1784.92,
          "end": 1785.16,
          "text": "can"
        },
        {
          "start": 1785.2,
          "end": 1785.56,
          "text": "I"
        },
        {
          "start": 1785.64,
          "end": 1786.04,
          "text": "pocket"
        },
        {
          "start": 1786.12,
          "end": 1786.32,
          "text": "net"
        },
        {
          "start": 1786.32,
          "end": 1786.56,
          "text": "worth"
        },
        {
          "start": 1786.6,
          "end": 1786.64,
          "text": "and"
        },
        {
          "start": 1786.72,
          "end": 1787.16,
          "text": "places"
        },
        {
          "start": 1787.16,
          "end": 1787.28,
          "text": "that"
        },
        {
          "start": 1787.4,
          "end": 1787.68,
          "text": "aren't"
        },
        {
          "start": 1787.72,
          "end": 1788.08,
          "text": "easily"
        },
        {
          "start": 1788.16,
          "end": 1788.52,
          "text": "visible,"
        },
        {
          "start": 1788.56,
          "end": 1788.64,
          "text": "and"
        },
        {
          "start": 1788.68,
          "end": 1788.76,
          "text": "so"
        },
        {
          "start": 1788.8,
          "end": 1788.96,
          "text": "I'm"
        },
        {
          "start": 1788.96,
          "end": 1789.04,
          "text": "not"
        },
        {
          "start": 1789.08,
          "end": 1789.36,
          "text": "fully"
        },
        {
          "start": 1789.36,
          "end": 1789.76,
          "text": "exposed"
        },
        {
          "start": 1789.76,
          "end": 1789.84,
          "text": "to"
        },
        {
          "start": 1789.84,
          "end": 1789.92,
          "text": "my"
        },
        {
          "start": 1789.92,
          "end": 1790.08,
          "text": "own"
        },
        {
          "start": 1790.12,
          "end": 1790.36,
          "text": "fund."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1790.76,
          "end": 1791.2,
          "text": "Sorry,"
        },
        {
          "start": 1791.56,
          "end": 1791.8,
          "text": "look,"
        },
        {
          "start": 1791.88,
          "end": 1791.92,
          "text": "I"
        },
        {
          "start": 1791.96,
          "end": 1792.12,
          "text": "mean"
        },
        {
          "start": 1793.96,
          "end": 1794.08,
          "text": "they"
        },
        {
          "start": 1794.08,
          "end": 1794.4,
          "text": "actually"
        },
        {
          "start": 1794.4,
          "end": 1794.52,
          "text": "big"
        },
        {
          "start": 1794.6,
          "end": 1794.76,
          "text": "They's"
        },
        {
          "start": 1794.76,
          "end": 1794.8,
          "text": "a"
        },
        {
          "start": 1794.84,
          "end": 1795.08,
          "text": "bigger"
        },
        {
          "start": 1795.16,
          "end": 1795.56,
          "text": "question."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1795.4,
          "end": 1795.56,
          "text": "There,"
        },
        {
          "start": 1795.6,
          "end": 1795.84,
          "text": "okay,"
        },
        {
          "start": 1795.88,
          "end": 1795.96,
          "text": "In"
        },
        {
          "start": 1796.0,
          "end": 1796.24,
          "text": "which"
        },
        {
          "start": 1796.28,
          "end": 1797.12,
          "text": "you"
        },
        {
          "start": 1797.16,
          "end": 1797.48,
          "text": "mentioned"
        },
        {
          "start": 1797.48,
          "end": 1797.6,
          "text": "at"
        },
        {
          "start": 1797.6,
          "end": 1797.64,
          "text": "the"
        },
        {
          "start": 1797.64,
          "end": 1797.88,
          "text": "starter"
        },
        {
          "start": 1797.92,
          "end": 1798.04,
          "text": "your"
        },
        {
          "start": 1798.12,
          "end": 1798.36,
          "text": "question"
        },
        {
          "start": 1798.64,
          "end": 1798.92,
          "text": "before"
        },
        {
          "start": 1798.92,
          "end": 1798.96,
          "text": "you"
        },
        {
          "start": 1799.0,
          "end": 1799.12,
          "text": "went"
        },
        {
          "start": 1799.16,
          "end": 1799.2,
          "text": "on"
        },
        {
          "start": 1799.24,
          "end": 1799.48,
          "text": "about"
        },
        {
          "start": 1799.48,
          "end": 1799.52,
          "text": "the"
        },
        {
          "start": 1799.56,
          "end": 1799.72,
          "text": "nice"
        },
        {
          "start": 1799.72,
          "end": 1800.0,
          "text": "mansion"
        },
        {
          "start": 1800.04,
          "end": 1800.16,
          "text": "an"
        },
        {
          "start": 1800.16,
          "end": 1800.56,
          "text": "aspect"
        },
        {
          "start": 1800.56,
          "end": 1800.76,
          "text": "which"
        },
        {
          "start": 1800.8,
          "end": 1800.84,
          "text": "is"
        },
        {
          "start": 1800.92,
          "end": 1801.08,
          "text": "kind"
        },
        {
          "start": 1801.08,
          "end": 1801.16,
          "text": "of"
        },
        {
          "start": 1801.16,
          "end": 1801.6,
          "text": "distracting"
        },
        {
          "start": 1801.64,
          "end": 1801.72,
          "text": "me"
        },
        {
          "start": 1801.8,
          "end": 1801.92,
          "text": "right"
        },
        {
          "start": 1801.96,
          "end": 1802.16,
          "text": "now."
        },
        {
          "start": 1802.16,
          "end": 1802.28,
          "text": "But"
        },
        {
          "start": 1802.4,
          "end": 1802.52,
          "text": "to"
        },
        {
          "start": 1802.56,
          "end": 1802.64,
          "text": "be"
        },
        {
          "start": 1802.72,
          "end": 1802.96,
          "text": "clear,"
        },
        {
          "start": 1803.84,
          "end": 1803.92,
          "text": "the"
        },
        {
          "start": 1803.96,
          "end": 1804.28,
          "text": "fact"
        },
        {
          "start": 1804.4,
          "end": 1804.48,
          "text": "is"
        },
        {
          "start": 1804.56,
          "end": 1804.76,
          "text": "that"
        },
        {
          "start": 1804.84,
          "end": 1805.0,
          "text": "if"
        },
        {
          "start": 1805.04,
          "end": 1805.12,
          "text": "you"
        },
        {
          "start": 1805.16,
          "end": 1805.24,
          "text": "have"
        },
        {
          "start": 1805.32,
          "end": 1805.44,
          "text": "all"
        },
        {
          "start": 1805.48,
          "end": 1805.64,
          "text": "your"
        },
        {
          "start": 1805.64,
          "end": 1805.92,
          "text": "money"
        },
        {
          "start": 1805.92,
          "end": 1805.96,
          "text": "in"
        },
        {
          "start": 1806.0,
          "end": 1806.08,
          "text": "a"
        },
        {
          "start": 1806.12,
          "end": 1806.4,
          "text": "fund,"
        },
        {
          "start": 1806.72,
          "end": 1807.16,
          "text": "yeah,"
        },
        {
          "start": 1807.68,
          "end": 1807.84,
          "text": "you're"
        },
        {
          "start": 1807.92,
          "end": 1808.04,
          "text": "kind"
        },
        {
          "start": 1808.08,
          "end": 1808.16,
          "text": "of"
        },
        {
          "start": 1808.16,
          "end": 1808.24,
          "text": "going"
        },
        {
          "start": 1808.32,
          "end": 1808.36,
          "text": "to"
        },
        {
          "start": 1808.44,
          "end": 1808.64,
          "text": "mind"
        },
        {
          "start": 1808.68,
          "end": 1808.76,
          "text": "it"
        },
        {
          "start": 1808.76,
          "end": 1809.24,
          "text": "differently,"
        },
        {
          "start": 1809.76,
          "end": 1810.16,
          "text": "yeah"
        },
        {
          "start": 1810.28,
          "end": 1810.48,
          "text": "right."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1810.56,
          "end": 1810.84,
          "text": "Yeah."
        },
        {
          "start": 1810.88,
          "end": 1810.96,
          "text": "And"
        },
        {
          "start": 1811.0,
          "end": 1811.16,
          "text": "if"
        },
        {
          "start": 1811.16,
          "end": 1811.32,
          "text": "I'm"
        },
        {
          "start": 1811.36,
          "end": 1811.44,
          "text": "an"
        },
        {
          "start": 1811.48,
          "end": 1811.8,
          "text": "investor"
        },
        {
          "start": 1811.84,
          "end": 1812.08,
          "text": "who's"
        },
        {
          "start": 1812.12,
          "end": 1812.2,
          "text": "got"
        },
        {
          "start": 1812.24,
          "end": 1812.32,
          "text": "a"
        },
        {
          "start": 1812.4,
          "end": 1812.72,
          "text": "hundred"
        },
        {
          "start": 1812.72,
          "end": 1812.8,
          "text": "of"
        },
        {
          "start": 1812.84,
          "end": 1813.2,
          "text": "funds"
        },
        {
          "start": 1813.24,
          "end": 1813.32,
          "text": "like"
        },
        {
          "start": 1813.36,
          "end": 1813.44,
          "text": "that,"
        },
        {
          "start": 1813.8,
          "end": 1813.88,
          "text": "I"
        },
        {
          "start": 1813.88,
          "end": 1814.08,
          "text": "don't"
        },
        {
          "start": 1814.08,
          "end": 1814.24,
          "text": "want."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1814.4,
          "end": 1814.56,
          "text": "Yeah,"
        },
        {
          "start": 1814.64,
          "end": 1814.8,
          "text": "yeah,"
        },
        {
          "start": 1814.84,
          "end": 1814.96,
          "text": "you're"
        },
        {
          "start": 1815.0,
          "end": 1815.08,
          "text": "going"
        },
        {
          "start": 1815.12,
          "end": 1815.16,
          "text": "to"
        },
        {
          "start": 1815.24,
          "end": 1815.32,
          "text": "be"
        },
        {
          "start": 1815.36,
          "end": 1815.56,
          "text": "You're"
        },
        {
          "start": 1815.56,
          "end": 1815.64,
          "text": "going"
        },
        {
          "start": 1815.72,
          "end": 1815.76,
          "text": "to"
        },
        {
          "start": 1815.92,
          "end": 1816.12,
          "text": "under"
        },
        {
          "start": 1816.16,
          "end": 1816.36,
          "text": "risk"
        },
        {
          "start": 1816.4,
          "end": 1816.48,
          "text": "it"
        },
        {
          "start": 1816.48,
          "end": 1816.84,
          "text": "relative"
        },
        {
          "start": 1816.84,
          "end": 1816.92,
          "text": "what"
        },
        {
          "start": 1816.96,
          "end": 1817.0,
          "text": "I"
        },
        {
          "start": 1817.04,
          "end": 1817.2,
          "text": "want"
        },
        {
          "start": 1817.2,
          "end": 1817.32,
          "text": "as"
        },
        {
          "start": 1817.32,
          "end": 1817.44,
          "text": "an"
        },
        {
          "start": 1817.44,
          "end": 1817.92,
          "text": "investor,"
        },
        {
          "start": 1818.48,
          "end": 1818.56,
          "text": "and"
        },
        {
          "start": 1819.08,
          "end": 1819.16,
          "text": "so"
        },
        {
          "start": 1820.08,
          "end": 1820.24,
          "text": "it's"
        },
        {
          "start": 1820.28,
          "end": 1820.36,
          "text": "a"
        },
        {
          "start": 1820.4,
          "end": 1820.64,
          "text": "real"
        },
        {
          "start": 1820.76,
          "end": 1821.08,
          "text": "dance."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1821.2,
          "end": 1821.4,
          "text": "Right."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1821.52,
          "end": 1821.8,
          "text": "Again,"
        },
        {
          "start": 1821.88,
          "end": 1821.96,
          "text": "it"
        },
        {
          "start": 1821.96,
          "end": 1822.16,
          "text": "goes"
        },
        {
          "start": 1822.16,
          "end": 1822.32,
          "text": "back"
        },
        {
          "start": 1822.32,
          "end": 1822.4,
          "text": "to"
        },
        {
          "start": 1822.48,
          "end": 1822.52,
          "text": "the"
        },
        {
          "start": 1822.6,
          "end": 1822.84,
          "text": "character"
        },
        {
          "start": 1822.96,
          "end": 1823.0,
          "text": "the"
        },
        {
          "start": 1823.0,
          "end": 1823.24,
          "text": "person"
        },
        {
          "start": 1823.24,
          "end": 1823.4,
          "text": "you're"
        },
        {
          "start": 1823.44,
          "end": 1823.72,
          "text": "hiring,"
        },
        {
          "start": 1824.16,
          "end": 1824.36,
          "text": "which"
        },
        {
          "start": 1824.4,
          "end": 1824.48,
          "text": "we"
        },
        {
          "start": 1824.48,
          "end": 1824.68,
          "text": "talked"
        },
        {
          "start": 1824.72,
          "end": 1824.92,
          "text": "about"
        },
        {
          "start": 1824.92,
          "end": 1825.2,
          "text": "earlier"
        },
        {
          "start": 1825.2,
          "end": 1825.24,
          "text": "on"
        },
        {
          "start": 1825.32,
          "end": 1825.52,
          "text": "about"
        },
        {
          "start": 1825.52,
          "end": 1825.56,
          "text": "the"
        },
        {
          "start": 1825.56,
          "end": 1825.72,
          "text": "pad"
        },
        {
          "start": 1825.76,
          "end": 1826.0,
          "text": "shot"
        },
        {
          "start": 1826.0,
          "end": 1826.04,
          "text": "with"
        },
        {
          "start": 1826.08,
          "end": 1826.12,
          "text": "the"
        },
        {
          "start": 1826.12,
          "end": 1826.44,
          "text": "similar"
        },
        {
          "start": 1826.44,
          "end": 1826.88,
          "text": "scenario."
        },
        {
          "start": 1827.44,
          "end": 1827.56,
          "text": "It"
        },
        {
          "start": 1827.64,
          "end": 1827.92,
          "text": "really"
        },
        {
          "start": 1827.92,
          "end": 1828.52,
          "text": "depends"
        },
        {
          "start": 1828.76,
          "end": 1828.84,
          "text": "on"
        },
        {
          "start": 1829.84,
          "end": 1830.0,
          "text": "how"
        },
        {
          "start": 1830.04,
          "end": 1830.12,
          "text": "you"
        },
        {
          "start": 1830.16,
          "end": 1830.32,
          "text": "want"
        },
        {
          "start": 1830.36,
          "end": 1830.4,
          "text": "to"
        },
        {
          "start": 1830.48,
          "end": 1830.68,
          "text": "risk"
        },
        {
          "start": 1830.72,
          "end": 1831.12,
          "text": "manage"
        },
        {
          "start": 1831.2,
          "end": 1831.36,
          "text": "your"
        },
        {
          "start": 1831.4,
          "end": 1831.84,
          "text": "investments"
        },
        {
          "start": 1831.88,
          "end": 1831.96,
          "text": "as"
        },
        {
          "start": 1831.96,
          "end": 1832.08,
          "text": "an"
        },
        {
          "start": 1832.08,
          "end": 1832.56,
          "text": "alligator,"
        },
        {
          "start": 1832.96,
          "end": 1833.08,
          "text": "right"
        },
        {
          "start": 1833.12,
          "end": 1833.48,
          "text": "because"
        },
        {
          "start": 1833.52,
          "end": 1833.68,
          "text": "at"
        },
        {
          "start": 1833.68,
          "end": 1833.76,
          "text": "the"
        },
        {
          "start": 1833.84,
          "end": 1833.96,
          "text": "end"
        },
        {
          "start": 1834.0,
          "end": 1834.04,
          "text": "of"
        },
        {
          "start": 1834.08,
          "end": 1834.12,
          "text": "the"
        },
        {
          "start": 1834.24,
          "end": 1834.48,
          "text": "day,"
        },
        {
          "start": 1834.92,
          "end": 1835.08,
          "text": "when"
        },
        {
          "start": 1835.12,
          "end": 1835.32,
          "text": "you're"
        },
        {
          "start": 1835.36,
          "end": 1835.68,
          "text": "asking"
        },
        {
          "start": 1835.68,
          "end": 1835.76,
          "text": "a"
        },
        {
          "start": 1835.84,
          "end": 1836.2,
          "text": "manager"
        },
        {
          "start": 1836.24,
          "end": 1836.32,
          "text": "to"
        },
        {
          "start": 1836.36,
          "end": 1836.6,
          "text": "put"
        },
        {
          "start": 1836.72,
          "end": 1836.88,
          "text": "their"
        },
        {
          "start": 1836.92,
          "end": 1837.12,
          "text": "own"
        },
        {
          "start": 1837.12,
          "end": 1837.48,
          "text": "capital"
        },
        {
          "start": 1837.48,
          "end": 1837.56,
          "text": "in"
        },
        {
          "start": 1837.56,
          "end": 1837.64,
          "text": "the"
        },
        {
          "start": 1837.68,
          "end": 1837.88,
          "text": "fund,"
        },
        {
          "start": 1838.44,
          "end": 1838.68,
          "text": "you're"
        },
        {
          "start": 1838.8,
          "end": 1839.04,
          "text": "signing"
        },
        {
          "start": 1839.08,
          "end": 1839.2,
          "text": "them"
        },
        {
          "start": 1839.2,
          "end": 1839.28,
          "text": "a"
        },
        {
          "start": 1839.28,
          "end": 1839.52,
          "text": "certain"
        },
        {
          "start": 1839.6,
          "end": 1839.72,
          "text": "role"
        },
        {
          "start": 1839.76,
          "end": 1839.84,
          "text": "as"
        },
        {
          "start": 1839.84,
          "end": 1839.88,
          "text": "a"
        },
        {
          "start": 1839.96,
          "end": 1840.12,
          "text": "risk"
        },
        {
          "start": 1840.12,
          "end": 1840.48,
          "text": "manager"
        },
        {
          "start": 1840.76,
          "end": 1841.2,
          "text": "because"
        },
        {
          "start": 1842.12,
          "end": 1842.28,
          "text": "and"
        },
        {
          "start": 1842.36,
          "end": 1842.44,
          "text": "you"
        },
        {
          "start": 1842.56,
          "end": 1842.68,
          "text": "have"
        },
        {
          "start": 1842.72,
          "end": 1842.8,
          "text": "to"
        },
        {
          "start": 1842.84,
          "end": 1843.24,
          "text": "assess"
        },
        {
          "start": 1843.72,
          "end": 1844.12,
          "text": "honestly,"
        },
        {
          "start": 1844.2,
          "end": 1844.28,
          "text": "my"
        },
        {
          "start": 1844.36,
          "end": 1844.72,
          "text": "answer"
        },
        {
          "start": 1844.92,
          "end": 1845.0,
          "text": "is,"
        },
        {
          "start": 1845.12,
          "end": 1845.2,
          "text": "it"
        },
        {
          "start": 1845.24,
          "end": 1845.4,
          "text": "really"
        },
        {
          "start": 1845.48,
          "end": 1845.76,
          "text": "depends"
        },
        {
          "start": 1845.8,
          "end": 1845.88,
          "text": "on"
        },
        {
          "start": 1845.88,
          "end": 1845.96,
          "text": "the"
        },
        {
          "start": 1845.96,
          "end": 1846.2,
          "text": "person"
        },
        {
          "start": 1846.2,
          "end": 1846.32,
          "text": "who"
        },
        {
          "start": 1846.36,
          "end": 1846.52,
          "text": "I'm"
        },
        {
          "start": 1846.52,
          "end": 1846.8,
          "text": "dealing"
        },
        {
          "start": 1846.8,
          "end": 1846.96,
          "text": "with"
        },
        {
          "start": 1847.28,
          "end": 1847.32,
          "text": "and"
        },
        {
          "start": 1847.44,
          "end": 1847.48,
          "text": "the"
        },
        {
          "start": 1847.52,
          "end": 1847.68,
          "text": "sort"
        },
        {
          "start": 1847.72,
          "end": 1847.8,
          "text": "of"
        },
        {
          "start": 1847.8,
          "end": 1847.96,
          "text": "person"
        },
        {
          "start": 1848.0,
          "end": 1848.12,
          "text": "who"
        },
        {
          "start": 1848.16,
          "end": 1848.24,
          "text": "I"
        },
        {
          "start": 1848.24,
          "end": 1848.4,
          "text": "think"
        },
        {
          "start": 1848.4,
          "end": 1848.56,
          "text": "we're"
        },
        {
          "start": 1848.56,
          "end": 1848.84,
          "text": "dealing"
        },
        {
          "start": 1848.84,
          "end": 1849.0,
          "text": "with."
        }
      ]
    },
    {
      "speaker": 3,
      "words": [
        {
          "start": 1849.08,
          "end": 1849.24,
          "text": "Right."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1849.28,
          "end": 1849.4,
          "text": "If"
        },
        {
          "start": 1849.4,
          "end": 1849.44,
          "text": "I"
        },
        {
          "start": 1849.48,
          "end": 1849.64,
          "text": "think"
        },
        {
          "start": 1849.68,
          "end": 1849.84,
          "text": "it's"
        },
        {
          "start": 1849.84,
          "end": 1850.32,
          "text": "somebody"
        },
        {
          "start": 1850.64,
          "end": 1850.88,
          "text": "who"
        },
        {
          "start": 1851.0,
          "end": 1851.12,
          "text": "is"
        },
        {
          "start": 1851.2,
          "end": 1851.28,
          "text": "just"
        },
        {
          "start": 1851.56,
          "end": 1851.88,
          "text": "really"
        },
        {
          "start": 1851.92,
          "end": 1852.48,
          "text": "professional"
        },
        {
          "start": 1852.48,
          "end": 1852.56,
          "text": "and"
        },
        {
          "start": 1852.6,
          "end": 1852.88,
          "text": "good,"
        },
        {
          "start": 1853.8,
          "end": 1854.0,
          "text": "I'm"
        },
        {
          "start": 1854.0,
          "end": 1854.12,
          "text": "not"
        },
        {
          "start": 1854.16,
          "end": 1854.32,
          "text": "so"
        },
        {
          "start": 1854.36,
          "end": 1854.6,
          "text": "sure."
        },
        {
          "start": 1854.6,
          "end": 1854.64,
          "text": "That"
        },
        {
          "start": 1854.76,
          "end": 1854.92,
          "text": "having"
        },
        {
          "start": 1854.96,
          "end": 1855.04,
          "text": "all"
        },
        {
          "start": 1855.08,
          "end": 1855.2,
          "text": "their"
        },
        {
          "start": 1855.2,
          "end": 1855.44,
          "text": "money"
        },
        {
          "start": 1855.44,
          "end": 1855.48,
          "text": "in"
        },
        {
          "start": 1855.52,
          "end": 1855.56,
          "text": "the"
        },
        {
          "start": 1855.56,
          "end": 1855.76,
          "text": "fund"
        },
        {
          "start": 1855.8,
          "end": 1855.84,
          "text": "is"
        },
        {
          "start": 1856.44,
          "end": 1856.96,
          "text": "necessary,"
        },
        {
          "start": 1857.4,
          "end": 1857.48,
          "text": "you"
        },
        {
          "start": 1857.56,
          "end": 1857.68,
          "text": "know,"
        },
        {
          "start": 1857.92,
          "end": 1858.08,
          "text": "if"
        },
        {
          "start": 1858.12,
          "end": 1858.16,
          "text": "I"
        },
        {
          "start": 1858.2,
          "end": 1858.36,
          "text": "think"
        },
        {
          "start": 1858.36,
          "end": 1858.52,
          "text": "it's"
        },
        {
          "start": 1858.56,
          "end": 1858.88,
          "text": "somebody"
        },
        {
          "start": 1858.88,
          "end": 1859.44,
          "text": "where."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 1859.6,
          "end": 1859.76,
          "text": "They"
        },
        {
          "start": 1859.76,
          "end": 1860.12,
          "text": "see"
        },
        {
          "start": 1860.24,
          "end": 1860.4,
          "text": "other"
        },
        {
          "start": 1860.44,
          "end": 1860.8,
          "text": "funds"
        },
        {
          "start": 1860.8,
          "end": 1861.0,
          "text": "too,"
        },
        {
          "start": 1861.08,
          "end": 1861.16,
          "text": "you"
        },
        {
          "start": 1861.16,
          "end": 1861.24,
          "text": "know,"
        },
        {
          "start": 1861.28,
          "end": 1861.52,
          "text": "big"
        },
        {
          "start": 1861.52,
          "end": 1861.72,
          "text": "fund"
        },
        {
          "start": 1861.76,
          "end": 1862.24,
          "text": "managers"
        },
        {
          "start": 1862.28,
          "end": 1862.72,
          "text": "see"
        },
        {
          "start": 1862.84,
          "end": 1863.0,
          "text": "they"
        },
        {
          "start": 1863.0,
          "end": 1863.08,
          "text": "do."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1863.16,
          "end": 1863.36,
          "text": "Yeah,"
        },
        {
          "start": 1863.4,
          "end": 1863.44,
          "text": "I"
        },
        {
          "start": 1863.44,
          "end": 1863.56,
          "text": "mean"
        },
        {
          "start": 1863.6,
          "end": 1863.64,
          "text": "I"
        },
        {
          "start": 1863.72,
          "end": 1863.84,
          "text": "used"
        },
        {
          "start": 1863.84,
          "end": 1863.88,
          "text": "to"
        },
        {
          "start": 1863.92,
          "end": 1864.08,
          "text": "see"
        },
        {
          "start": 1864.12,
          "end": 1864.2,
          "text": "that"
        },
        {
          "start": 1864.24,
          "end": 1864.36,
          "text": "at"
        },
        {
          "start": 1864.36,
          "end": 1864.44,
          "text": "my"
        },
        {
          "start": 1864.48,
          "end": 1864.68,
          "text": "former"
        },
        {
          "start": 1864.8,
          "end": 1864.96,
          "text": "job,"
        },
        {
          "start": 1865.32,
          "end": 1865.4,
          "text": "you"
        },
        {
          "start": 1865.4,
          "end": 1865.52,
          "text": "know,"
        },
        {
          "start": 1865.6,
          "end": 1865.72,
          "text": "and"
        },
        {
          "start": 1865.88,
          "end": 1866.0,
          "text": "it"
        },
        {
          "start": 1866.04,
          "end": 1866.08,
          "text": "was"
        },
        {
          "start": 1866.08,
          "end": 1866.16,
          "text": "a"
        },
        {
          "start": 1866.2,
          "end": 1866.4,
          "text": "real"
        },
        {
          "start": 1866.44,
          "end": 1866.76,
          "text": "issue"
        },
        {
          "start": 1866.76,
          "end": 1867.0,
          "text": "because"
        },
        {
          "start": 1867.04,
          "end": 1867.12,
          "text": "you"
        },
        {
          "start": 1867.12,
          "end": 1867.28,
          "text": "did"
        },
        {
          "start": 1867.32,
          "end": 1867.44,
          "text": "have"
        },
        {
          "start": 1867.48,
          "end": 1867.76,
          "text": "people"
        },
        {
          "start": 1867.76,
          "end": 1868.04,
          "text": "who,"
        },
        {
          "start": 1868.48,
          "end": 1868.52,
          "text": "you"
        },
        {
          "start": 1868.6,
          "end": 1868.68,
          "text": "know,"
        },
        {
          "start": 1868.72,
          "end": 1868.84,
          "text": "they"
        },
        {
          "start": 1868.84,
          "end": 1868.96,
          "text": "had"
        },
        {
          "start": 1869.0,
          "end": 1869.2,
          "text": "made"
        },
        {
          "start": 1869.2,
          "end": 1869.52,
          "text": "decent"
        },
        {
          "start": 1869.52,
          "end": 1869.84,
          "text": "money."
        },
        {
          "start": 1870.28,
          "end": 1870.36,
          "text": "But"
        },
        {
          "start": 1870.72,
          "end": 1870.84,
          "text": "like,"
        },
        {
          "start": 1871.08,
          "end": 1871.16,
          "text": "what"
        },
        {
          "start": 1871.28,
          "end": 1871.36,
          "text": "we"
        },
        {
          "start": 1871.44,
          "end": 1871.64,
          "text": "really"
        },
        {
          "start": 1871.72,
          "end": 1872.0,
          "text": "wanted"
        },
        {
          "start": 1872.0,
          "end": 1872.04,
          "text": "to"
        },
        {
          "start": 1872.04,
          "end": 1872.24,
          "text": "see"
        },
        {
          "start": 1872.28,
          "end": 1872.4,
          "text": "at"
        },
        {
          "start": 1872.4,
          "end": 1872.44,
          "text": "the"
        },
        {
          "start": 1872.44,
          "end": 1872.64,
          "text": "time"
        },
        {
          "start": 1872.76,
          "end": 1872.84,
          "text": "that"
        },
        {
          "start": 1872.88,
          "end": 1873.24,
          "text": "PAMCO"
        },
        {
          "start": 1873.48,
          "end": 1873.56,
          "text": "was"
        },
        {
          "start": 1874.08,
          "end": 1874.36,
          "text": "people"
        },
        {
          "start": 1874.4,
          "end": 1874.68,
          "text": "putting"
        },
        {
          "start": 1874.72,
          "end": 1874.84,
          "text": "their"
        },
        {
          "start": 1874.88,
          "end": 1875.12,
          "text": "money"
        },
        {
          "start": 1875.16,
          "end": 1875.4,
          "text": "into"
        },
        {
          "start": 1875.4,
          "end": 1875.48,
          "text": "the"
        },
        {
          "start": 1875.56,
          "end": 1876.12,
          "text": "business,"
        },
        {
          "start": 1876.52,
          "end": 1876.6,
          "text": "you"
        },
        {
          "start": 1876.64,
          "end": 1876.76,
          "text": "know,"
        },
        {
          "start": 1876.92,
          "end": 1877.16,
          "text": "paying"
        },
        {
          "start": 1877.16,
          "end": 1877.2,
          "text": "for"
        },
        {
          "start": 1877.2,
          "end": 1877.68,
          "text": "Bloomberg,"
        },
        {
          "start": 1877.84,
          "end": 1878.12,
          "text": "paying"
        },
        {
          "start": 1878.16,
          "end": 1878.32,
          "text": "for"
        },
        {
          "start": 1878.84,
          "end": 1879.2,
          "text": "office"
        },
        {
          "start": 1879.2,
          "end": 1879.56,
          "text": "space,"
        },
        {
          "start": 1879.76,
          "end": 1879.8,
          "text": "you"
        },
        {
          "start": 1879.84,
          "end": 1879.88,
          "text": "know,"
        },
        {
          "start": 1879.92,
          "end": 1880.04,
          "text": "all"
        },
        {
          "start": 1880.08,
          "end": 1880.2,
          "text": "that"
        },
        {
          "start": 1880.24,
          "end": 1880.44,
          "text": "over"
        },
        {
          "start": 1880.48,
          "end": 1880.64,
          "text": "over"
        },
        {
          "start": 1880.68,
          "end": 1880.96,
          "text": "putting"
        },
        {
          "start": 1880.96,
          "end": 1881.12,
          "text": "money"
        },
        {
          "start": 1881.16,
          "end": 1881.2,
          "text": "in"
        },
        {
          "start": 1881.24,
          "end": 1881.32,
          "text": "the"
        },
        {
          "start": 1881.32,
          "end": 1881.56,
          "text": "fund,"
        },
        {
          "start": 1881.68,
          "end": 1881.92,
          "text": "because"
        },
        {
          "start": 1881.96,
          "end": 1882.04,
          "text": "that"
        },
        {
          "start": 1882.04,
          "end": 1882.12,
          "text": "was"
        },
        {
          "start": 1882.12,
          "end": 1882.52,
          "text": "commitment"
        },
        {
          "start": 1882.56,
          "end": 1882.6,
          "text": "to"
        },
        {
          "start": 1882.6,
          "end": 1882.64,
          "text": "the"
        },
        {
          "start": 1882.68,
          "end": 1882.96,
          "text": "business."
        },
        {
          "start": 1883.12,
          "end": 1883.44,
          "text": "Interesting,"
        },
        {
          "start": 1883.48,
          "end": 1883.64,
          "text": "right,"
        },
        {
          "start": 1883.72,
          "end": 1883.8,
          "text": "I"
        },
        {
          "start": 1883.8,
          "end": 1883.92,
          "text": "mean"
        },
        {
          "start": 1883.96,
          "end": 1884.12,
          "text": "that's"
        },
        {
          "start": 1884.12,
          "end": 1884.4,
          "text": "something"
        },
        {
          "start": 1884.44,
          "end": 1884.56,
          "text": "that"
        },
        {
          "start": 1884.6,
          "end": 1884.8,
          "text": "we're"
        },
        {
          "start": 1885.16,
          "end": 1885.2,
          "text": "you"
        },
        {
          "start": 1885.28,
          "end": 1885.36,
          "text": "know,"
        },
        {
          "start": 1885.52,
          "end": 1885.64,
          "text": "we"
        },
        {
          "start": 1885.64,
          "end": 1885.8,
          "text": "were"
        },
        {
          "start": 1885.8,
          "end": 1886.28,
          "text": "comfortable"
        },
        {
          "start": 1886.92,
          "end": 1887.64,
          "text": "more"
        },
        {
          "start": 1887.68,
          "end": 1887.84,
          "text": "as"
        },
        {
          "start": 1887.84,
          "end": 1888.24,
          "text": "comfortable"
        },
        {
          "start": 1888.28,
          "end": 1888.32,
          "text": "with"
        },
        {
          "start": 1888.36,
          "end": 1888.48,
          "text": "them"
        },
        {
          "start": 1888.48,
          "end": 1888.8,
          "text": "putting"
        },
        {
          "start": 1888.88,
          "end": 1889.16,
          "text": "working"
        },
        {
          "start": 1889.16,
          "end": 1889.48,
          "text": "capital"
        },
        {
          "start": 1889.52,
          "end": 1889.68,
          "text": "into"
        },
        {
          "start": 1889.68,
          "end": 1889.76,
          "text": "a"
        },
        {
          "start": 1889.76,
          "end": 1890.16,
          "text": "functioning"
        },
        {
          "start": 1890.2,
          "end": 1890.56,
          "text": "business."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1890.68,
          "end": 1891.04,
          "text": "Interesting."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1891.24,
          "end": 1891.44,
          "text": "We"
        },
        {
          "start": 1891.6,
          "end": 1891.8,
          "text": "then"
        },
        {
          "start": 1891.88,
          "end": 1892.12,
          "text": "maybe"
        },
        {
          "start": 1892.16,
          "end": 1892.48,
          "text": "putting"
        },
        {
          "start": 1892.48,
          "end": 1892.64,
          "text": "more"
        },
        {
          "start": 1892.64,
          "end": 1892.76,
          "text": "an"
        },
        {
          "start": 1892.76,
          "end": 1893.04,
          "text": "extra"
        },
        {
          "start": 1893.16,
          "end": 1893.32,
          "text": "five"
        },
        {
          "start": 1893.4,
          "end": 1893.68,
          "text": "hundred"
        },
        {
          "start": 1893.68,
          "end": 1893.96,
          "text": "thousand,"
        },
        {
          "start": 1894.0,
          "end": 1894.04,
          "text": "a"
        },
        {
          "start": 1894.08,
          "end": 1894.32,
          "text": "million,"
        },
        {
          "start": 1894.32,
          "end": 1894.44,
          "text": "two"
        },
        {
          "start": 1894.44,
          "end": 1894.64,
          "text": "million"
        },
        {
          "start": 1894.96,
          "end": 1895.2,
          "text": "million"
        },
        {
          "start": 1895.2,
          "end": 1895.44,
          "text": "dollars"
        },
        {
          "start": 1895.48,
          "end": 1895.64,
          "text": "into"
        },
        {
          "start": 1895.64,
          "end": 1895.72,
          "text": "a"
        },
        {
          "start": 1895.72,
          "end": 1895.96,
          "text": "fund."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 1896.08,
          "end": 1896.24,
          "text": "Very"
        },
        {
          "start": 1896.28,
          "end": 1896.64,
          "text": "interesting."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 1897.0,
          "end": 1897.08,
          "text": "So"
        },
        {
          "start": 1897.2,
          "end": 1897.4,
          "text": "much"
        },
        {
          "start": 1897.4,
          "end": 1897.48,
          "text": "of"
        },
        {
          "start": 1897.52,
          "end": 1897.64,
          "text": "what"
        },
        {
          "start": 1897.68,
          "end": 1897.88,
          "text": "you're"
        },
        {
          "start": 1897.92,
          "end": 1898.56,
          "text": "describing"
        },
        {
          "start": 1898.88,
          "end": 1898.96,
          "text": "it"
        },
        {
          "start": 1899.24,
          "end": 1899.6,
          "text": "sounds"
        },
        {
          "start": 1899.72,
          "end": 1899.92,
          "text": "very"
        },
        {
          "start": 1900.04,
          "end": 1900.24,
          "text": "very"
        },
        {
          "start": 1900.28,
          "end": 1900.88,
          "text": "granular,"
        },
        {
          "start": 1901.08,
          "end": 1901.16,
          "text": "like"
        },
        {
          "start": 1901.2,
          "end": 1901.24,
          "text": "the"
        },
        {
          "start": 1901.32,
          "end": 1901.64,
          "text": "idea"
        },
        {
          "start": 1901.64,
          "end": 1901.72,
          "text": "of"
        },
        {
          "start": 1901.76,
          "end": 1901.96,
          "text": "looking"
        },
        {
          "start": 1902.04,
          "end": 1902.2,
          "text": "at"
        },
        {
          "start": 1902.2,
          "end": 1902.84,
          "text": "individual"
        },
        {
          "start": 1902.88,
          "end": 1903.2,
          "text": "talent"
        },
        {
          "start": 1903.32,
          "end": 1903.4,
          "text": "to"
        },
        {
          "start": 1903.44,
          "end": 1903.64,
          "text": "see"
        },
        {
          "start": 1903.64,
          "end": 1903.8,
          "text": "how"
        },
        {
          "start": 1903.8,
          "end": 1903.96,
          "text": "they"
        },
        {
          "start": 1904.0,
          "end": 1904.4,
          "text": "operate,"
        },
        {
          "start": 1904.52,
          "end": 1904.76,
          "text": "looking"
        },
        {
          "start": 1904.84,
          "end": 1905.08,
          "text": "at"
        },
        {
          "start": 1905.4,
          "end": 1905.84,
          "text": "something"
        },
        {
          "start": 1906.12,
          "end": 1906.2,
          "text": "like"
        },
        {
          "start": 1906.32,
          "end": 1906.84,
          "text": "culture,"
        },
        {
          "start": 1907.0,
          "end": 1907.28,
          "text": "which"
        },
        {
          "start": 1907.48,
          "end": 1907.8,
          "text": "tends"
        },
        {
          "start": 1907.84,
          "end": 1907.92,
          "text": "to"
        },
        {
          "start": 1907.96,
          "end": 1908.08,
          "text": "be"
        },
        {
          "start": 1908.28,
          "end": 1908.8,
          "text": "difficult"
        },
        {
          "start": 1908.92,
          "end": 1909.0,
          "text": "to"
        },
        {
          "start": 1909.12,
          "end": 1909.84,
          "text": "define."
        },
        {
          "start": 1910.16,
          "end": 1910.32,
          "text": "If"
        },
        {
          "start": 1910.36,
          "end": 1910.52,
          "text": "I'm"
        },
        {
          "start": 1910.56,
          "end": 1910.72,
          "text": "an"
        },
        {
          "start": 1910.76,
          "end": 1911.48,
          "text": "allocator,"
        },
        {
          "start": 1911.88,
          "end": 1912.0,
          "text": "how"
        },
        {
          "start": 1912.08,
          "end": 1912.32,
          "text": "much"
        },
        {
          "start": 1912.36,
          "end": 1913.28,
          "text": "transparency"
        },
        {
          "start": 1913.4,
          "end": 1913.48,
          "text": "or"
        },
        {
          "start": 1913.48,
          "end": 1913.64,
          "text": "how"
        },
        {
          "start": 1913.68,
          "end": 1913.88,
          "text": "much"
        },
        {
          "start": 1913.92,
          "end": 1914.48,
          "text": "information"
        },
        {
          "start": 1914.64,
          "end": 1914.76,
          "text": "am"
        },
        {
          "start": 1914.84,
          "end": 1914.92,
          "text": "I"
        },
        {
          "start": 1915.12,
          "end": 1915.6,
          "text": "actually"
        },
        {
          "start": 1915.64,
          "end": 1916.0,
          "text": "getting"
        },
        {
          "start": 1916.2,
          "end": 1916.4,
          "text": "from"
        },
        {
          "start": 1916.44,
          "end": 1916.6,
          "text": "one"
        },
        {
          "start": 1916.6,
          "end": 1916.68,
          "text": "of"
        },
        {
          "start": 1916.72,
          "end": 1916.88,
          "text": "these"
        },
        {
          "start": 1916.92,
          "end": 1917.2,
          "text": "funds?"
        },
        {
          "start": 1917.24,
          "end": 1917.32,
          "text": "And"
        },
        {
          "start": 1917.4,
          "end": 1917.48,
          "text": "I"
        },
        {
          "start": 1917.52,
          "end": 1918.04,
          "text": "realized"
        },
        {
          "start": 1918.36,
          "end": 1919.0,
          "text": "allocators"
        },
        {
          "start": 1919.0,
          "end": 1919.16,
          "text": "will"
        },
        {
          "start": 1919.24,
          "end": 1919.52,
          "text": "hire"
        },
        {
          "start": 1919.64,
          "end": 1919.84,
          "text": "your"
        },
        {
          "start": 1920.0,
          "end": 1920.4,
          "text": "company"
        },
        {
          "start": 1920.48,
          "end": 1921.0,
          "text": "Albourne"
        },
        {
          "start": 1921.08,
          "end": 1921.12,
          "text": "to"
        },
        {
          "start": 1921.2,
          "end": 1921.56,
          "text": "actually"
        },
        {
          "start": 1921.6,
          "end": 1921.68,
          "text": "do"
        },
        {
          "start": 1921.76,
          "end": 1921.84,
          "text": "a"
        },
        {
          "start": 1921.84,
          "end": 1922.0,
          "text": "lot"
        },
        {
          "start": 1922.0,
          "end": 1922.08,
          "text": "of"
        },
        {
          "start": 1922.08,
          "end": 1922.16,
          "text": "this"
        },
        {
          "start": 1922.32,
          "end": 1922.48,
          "text": "due"
        },
        {
          "start": 1922.52,
          "end": 1923.08,
          "text": "diligence"
        },
        {
          "start": 1923.16,
          "end": 1923.36,
          "text": "for"
        },
        {
          "start": 1923.4,
          "end": 1923.64,
          "text": "them."
        },
        {
          "start": 1923.72,
          "end": 1923.8,
          "text": "But"
        },
        {
          "start": 1924.04,
          "end": 1924.24,
          "text": "if"
        },
        {
          "start": 1924.28,
          "end": 1924.8,
          "text": "Albourne"
        },
        {
          "start": 1924.84,
          "end": 1924.88,
          "text": "was"
        },
        {
          "start": 1924.92,
          "end": 1925.08,
          "text": "out"
        },
        {
          "start": 1925.08,
          "end": 1925.16,
          "text": "of"
        },
        {
          "start": 1925.2,
          "end": 1925.24,
          "text": "the"
        },
        {
          "start": 1925.28,
          "end": 1925.68,
          "text": "picture,"
        },
        {
          "start": 1926.68,
          "end": 1926.76,
          "text": "what"
        },
        {
          "start": 1926.84,
          "end": 1927.08,
          "text": "would"
        },
        {
          "start": 1927.12,
          "end": 1927.16,
          "text": "I"
        },
        {
          "start": 1927.24,
          "end": 1927.32,
          "text": "be"
        },
        {
          "start": 1927.52,
          "end": 1927.88,
          "text": "seeing"
        },
        {
          "start": 1928.12,
          "end": 1928.24,
          "text": "if"
        },
        {
          "start": 1928.28,
          "end": 1928.44,
          "text": "I'm"
        },
        {
          "start": 1928.44,
          "end": 1928.56,
          "text": "a"
        },
        {
          "start": 1928.56,
          "end": 1929.04,
          "text": "potential"
        },
        {
          "start": 1929.08,
          "end": 1929.64,
          "text": "allocator."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1930.84,
          "end": 1930.96,
          "text": "So"
        },
        {
          "start": 1931.04,
          "end": 1931.24,
          "text": "that's"
        },
        {
          "start": 1931.24,
          "end": 1931.88,
          "text": "a"
        },
        {
          "start": 1931.88,
          "end": 1931.96,
          "text": "a"
        },
        {
          "start": 1932.0,
          "end": 1932.24,
          "text": "long"
        },
        {
          "start": 1932.36,
          "end": 1932.52,
          "text": "there's"
        },
        {
          "start": 1932.52,
          "end": 1932.56,
          "text": "a"
        },
        {
          "start": 1932.6,
          "end": 1932.72,
          "text": "long"
        },
        {
          "start": 1932.76,
          "end": 1933.0,
          "text": "answer"
        },
        {
          "start": 1933.04,
          "end": 1933.12,
          "text": "to"
        },
        {
          "start": 1933.12,
          "end": 1933.2,
          "text": "that"
        },
        {
          "start": 1933.28,
          "end": 1933.56,
          "text": "question,"
        },
        {
          "start": 1933.64,
          "end": 1933.76,
          "text": "and"
        },
        {
          "start": 1933.8,
          "end": 1933.88,
          "text": "it"
        },
        {
          "start": 1933.92,
          "end": 1934.12,
          "text": "really"
        },
        {
          "start": 1934.16,
          "end": 1934.32,
          "text": "does"
        },
        {
          "start": 1934.4,
          "end": 1934.76,
          "text": "depend"
        },
        {
          "start": 1935.0,
          "end": 1935.08,
          "text": "on"
        },
        {
          "start": 1935.48,
          "end": 1935.6,
          "text": "a"
        },
        {
          "start": 1935.68,
          "end": 1935.84,
          "text": "if"
        },
        {
          "start": 1935.88,
          "end": 1936.08,
          "text": "you're"
        },
        {
          "start": 1936.24,
          "end": 1936.32,
          "text": "a"
        },
        {
          "start": 1936.36,
          "end": 1936.64,
          "text": "certain"
        },
        {
          "start": 1936.68,
          "end": 1936.92,
          "text": "size"
        },
        {
          "start": 1936.92,
          "end": 1936.96,
          "text": "of"
        },
        {
          "start": 1936.96,
          "end": 1937.08,
          "text": "an"
        },
        {
          "start": 1937.08,
          "end": 1937.6,
          "text": "alligator."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1938.32,
          "end": 1938.52,
          "text": "There's"
        },
        {
          "start": 1938.52,
          "end": 1938.76,
          "text": "there's"
        },
        {
          "start": 1938.84,
          "end": 1938.96,
          "text": "kind"
        },
        {
          "start": 1938.96,
          "end": 1939.04,
          "text": "of"
        },
        {
          "start": 1939.04,
          "end": 1939.08,
          "text": "the"
        },
        {
          "start": 1939.12,
          "end": 1939.32,
          "text": "fast"
        },
        {
          "start": 1939.36,
          "end": 1939.6,
          "text": "lane."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 1939.72,
          "end": 1939.92,
          "text": "Ah"
        },
        {
          "start": 1940.44,
          "end": 1940.52,
          "text": "so"
        },
        {
          "start": 1940.56,
          "end": 1940.68,
          "text": "if"
        },
        {
          "start": 1940.68,
          "end": 1940.88,
          "text": "I'm"
        },
        {
          "start": 1940.88,
          "end": 1941.28,
          "text": "PIMCO"
        },
        {
          "start": 1941.48,
          "end": 1941.52,
          "text": "or"
        },
        {
          "start": 1941.6,
          "end": 1941.96,
          "text": "something,"
        },
        {
          "start": 1942.16,
          "end": 1942.48,
          "text": "if."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1942.36,
          "end": 1942.52,
          "text": "You're"
        },
        {
          "start": 1942.56,
          "end": 1942.6,
          "text": "in"
        },
        {
          "start": 1942.72,
          "end": 1942.8,
          "text": "you"
        },
        {
          "start": 1942.84,
          "end": 1943.04,
          "text": "get"
        },
        {
          "start": 1943.08,
          "end": 1943.12,
          "text": "in"
        },
        {
          "start": 1943.16,
          "end": 1943.24,
          "text": "the"
        },
        {
          "start": 1943.24,
          "end": 1943.68,
          "text": "executive"
        },
        {
          "start": 1943.72,
          "end": 1944.32,
          "text": "lounge,"
        },
        {
          "start": 1944.44,
          "end": 1944.52,
          "text": "you"
        },
        {
          "start": 1944.52,
          "end": 1944.6,
          "text": "know,"
        },
        {
          "start": 1944.72,
          "end": 1944.88,
          "text": "you'll"
        },
        {
          "start": 1944.92,
          "end": 1945.04,
          "text": "get"
        },
        {
          "start": 1945.04,
          "end": 1945.32,
          "text": "treated"
        },
        {
          "start": 1945.52,
          "end": 1945.68,
          "text": "more,"
        },
        {
          "start": 1945.76,
          "end": 1945.84,
          "text": "you"
        },
        {
          "start": 1945.84,
          "end": 1945.92,
          "text": "know,"
        },
        {
          "start": 1946.04,
          "end": 1946.2,
          "text": "get"
        },
        {
          "start": 1946.24,
          "end": 1946.4,
          "text": "more"
        },
        {
          "start": 1946.52,
          "end": 1946.92,
          "text": "access."
        },
        {
          "start": 1947.0,
          "end": 1947.08,
          "text": "You"
        },
        {
          "start": 1947.08,
          "end": 1947.2,
          "text": "know"
        },
        {
          "start": 1947.32,
          "end": 1947.48,
          "text": "that,"
        },
        {
          "start": 1947.6,
          "end": 1947.68,
          "text": "and"
        },
        {
          "start": 1947.72,
          "end": 1947.92,
          "text": "there's"
        },
        {
          "start": 1947.96,
          "end": 1948.16,
          "text": "nothing"
        },
        {
          "start": 1948.16,
          "end": 1948.36,
          "text": "wrong"
        },
        {
          "start": 1948.4,
          "end": 1948.44,
          "text": "with"
        },
        {
          "start": 1948.48,
          "end": 1948.56,
          "text": "that"
        },
        {
          "start": 1948.6,
          "end": 1948.84,
          "text": "because"
        },
        {
          "start": 1948.88,
          "end": 1949.2,
          "text": "simply"
        },
        {
          "start": 1949.24,
          "end": 1949.4,
          "text": "these"
        },
        {
          "start": 1949.4,
          "end": 1949.64,
          "text": "people"
        },
        {
          "start": 1949.68,
          "end": 1949.76,
          "text": "have"
        },
        {
          "start": 1949.8,
          "end": 1950.16,
          "text": "limited"
        },
        {
          "start": 1950.2,
          "end": 1950.4,
          "text": "time,"
        },
        {
          "start": 1951.0,
          "end": 1951.08,
          "text": "you"
        },
        {
          "start": 1951.12,
          "end": 1951.24,
          "text": "know,"
        },
        {
          "start": 1951.28,
          "end": 1951.4,
          "text": "and"
        },
        {
          "start": 1951.44,
          "end": 1951.68,
          "text": "somebody"
        },
        {
          "start": 1951.72,
          "end": 1951.96,
          "text": "who's"
        },
        {
          "start": 1951.96,
          "end": 1952.04,
          "text": "going"
        },
        {
          "start": 1952.08,
          "end": 1952.12,
          "text": "to"
        },
        {
          "start": 1952.12,
          "end": 1952.16,
          "text": "be"
        },
        {
          "start": 1952.2,
          "end": 1952.24,
          "text": "a"
        },
        {
          "start": 1952.28,
          "end": 1952.52,
          "text": "larger"
        },
        {
          "start": 1952.52,
          "end": 1952.76,
          "text": "client"
        },
        {
          "start": 1952.84,
          "end": 1953.0,
          "text": "will"
        },
        {
          "start": 1953.0,
          "end": 1953.16,
          "text": "get"
        },
        {
          "start": 1953.16,
          "end": 1953.32,
          "text": "more"
        },
        {
          "start": 1953.36,
          "end": 1953.44,
          "text": "in"
        },
        {
          "start": 1953.48,
          "end": 1953.76,
          "text": "almost"
        },
        {
          "start": 1953.76,
          "end": 1953.88,
          "text": "any"
        },
        {
          "start": 1953.96,
          "end": 1954.16,
          "text": "line"
        },
        {
          "start": 1954.16,
          "end": 1954.2,
          "text": "of"
        },
        {
          "start": 1954.24,
          "end": 1954.6,
          "text": "business,"
        },
        {
          "start": 1955.24,
          "end": 1955.32,
          "text": "you"
        },
        {
          "start": 1955.4,
          "end": 1955.48,
          "text": "know,"
        },
        {
          "start": 1955.76,
          "end": 1955.88,
          "text": "in"
        },
        {
          "start": 1955.96,
          "end": 1956.28,
          "text": "terms"
        },
        {
          "start": 1956.28,
          "end": 1956.36,
          "text": "of"
        },
        {
          "start": 1956.44,
          "end": 1956.88,
          "text": "access,"
        },
        {
          "start": 1957.08,
          "end": 1957.16,
          "text": "it"
        },
        {
          "start": 1957.2,
          "end": 1957.4,
          "text": "does"
        },
        {
          "start": 1957.52,
          "end": 1957.84,
          "text": "vary,"
        },
        {
          "start": 1958.16,
          "end": 1958.24,
          "text": "I"
        },
        {
          "start": 1958.28,
          "end": 1958.56,
          "text": "think,"
        },
        {
          "start": 1959.08,
          "end": 1959.16,
          "text": "you"
        },
        {
          "start": 1959.2,
          "end": 1959.28,
          "text": "know"
        },
        {
          "start": 1959.32,
          "end": 1959.44,
          "text": "if"
        },
        {
          "start": 1959.48,
          "end": 1959.56,
          "text": "I"
        },
        {
          "start": 1959.76,
          "end": 1959.84,
          "text": "you"
        },
        {
          "start": 1959.88,
          "end": 1959.96,
          "text": "know,"
        },
        {
          "start": 1960.08,
          "end": 1960.4,
          "text": "speaking"
        },
        {
          "start": 1960.4,
          "end": 1960.44,
          "text": "of"
        },
        {
          "start": 1960.64,
          "end": 1960.76,
          "text": "an"
        },
        {
          "start": 1960.76,
          "end": 1961.32,
          "text": "allocator's"
        },
        {
          "start": 1961.32,
          "end": 1961.64,
          "text": "shoes."
        },
        {
          "start": 1962.28,
          "end": 1962.36,
          "text": "You"
        },
        {
          "start": 1962.4,
          "end": 1962.52,
          "text": "know,"
        },
        {
          "start": 1962.64,
          "end": 1963.0,
          "text": "basic"
        },
        {
          "start": 1963.04,
          "end": 1963.36,
          "text": "stuff"
        },
        {
          "start": 1963.52,
          "end": 1963.6,
          "text": "is"
        },
        {
          "start": 1963.68,
          "end": 1964.04,
          "text": "regular"
        },
        {
          "start": 1964.04,
          "end": 1964.44,
          "text": "meetings,"
        },
        {
          "start": 1965.12,
          "end": 1965.4,
          "text": "good"
        },
        {
          "start": 1965.72,
          "end": 1966.36,
          "text": "substantial"
        },
        {
          "start": 1966.44,
          "end": 1966.64,
          "text": "risk"
        },
        {
          "start": 1966.64,
          "end": 1967.0,
          "text": "reports,"
        },
        {
          "start": 1967.0,
          "end": 1967.24,
          "text": "helping"
        },
        {
          "start": 1967.28,
          "end": 1967.32,
          "text": "me"
        },
        {
          "start": 1967.4,
          "end": 1967.8,
          "text": "understand"
        },
        {
          "start": 1967.84,
          "end": 1968.04,
          "text": "where"
        },
        {
          "start": 1968.04,
          "end": 1968.12,
          "text": "and"
        },
        {
          "start": 1968.12,
          "end": 1968.24,
          "text": "how"
        },
        {
          "start": 1968.36,
          "end": 1968.56,
          "text": "risk"
        },
        {
          "start": 1968.64,
          "end": 1968.72,
          "text": "is"
        },
        {
          "start": 1969.24,
          "end": 1969.36,
          "text": "our"
        },
        {
          "start": 1969.4,
          "end": 1969.8,
          "text": "plays,"
        },
        {
          "start": 1970.32,
          "end": 1970.4,
          "text": "you"
        },
        {
          "start": 1970.44,
          "end": 1970.52,
          "text": "know,"
        },
        {
          "start": 1970.92,
          "end": 1971.28,
          "text": "updates"
        },
        {
          "start": 1971.28,
          "end": 1971.48,
          "text": "when"
        },
        {
          "start": 1971.48,
          "end": 1972.0,
          "text": "necessary,"
        },
        {
          "start": 1972.4,
          "end": 1972.52,
          "text": "and"
        },
        {
          "start": 1972.56,
          "end": 1972.72,
          "text": "then"
        },
        {
          "start": 1972.8,
          "end": 1972.88,
          "text": "you"
        },
        {
          "start": 1972.92,
          "end": 1973.0,
          "text": "know,"
        },
        {
          "start": 1973.16,
          "end": 1973.24,
          "text": "just"
        },
        {
          "start": 1973.52,
          "end": 1973.72,
          "text": "it's"
        },
        {
          "start": 1973.8,
          "end": 1974.12,
          "text": "really"
        },
        {
          "start": 1974.2,
          "end": 1974.28,
          "text": "it"
        },
        {
          "start": 1974.36,
          "end": 1974.44,
          "text": "is"
        },
        {
          "start": 1974.52,
          "end": 1975.0,
          "text": "granular."
        },
        {
          "start": 1975.16,
          "end": 1975.48,
          "text": "It's"
        },
        {
          "start": 1975.56,
          "end": 1975.8,
          "text": "multi"
        },
        {
          "start": 1975.84,
          "end": 1976.36,
          "text": "strategies"
        },
        {
          "start": 1976.36,
          "end": 1976.52,
          "text": "are"
        },
        {
          "start": 1976.84,
          "end": 1976.96,
          "text": "a"
        },
        {
          "start": 1976.96,
          "end": 1977.48,
          "text": "combination"
        },
        {
          "start": 1977.64,
          "end": 1977.72,
          "text": "of"
        },
        {
          "start": 1977.76,
          "end": 1978.04,
          "text": "both"
        },
        {
          "start": 1978.4,
          "end": 1978.76,
          "text": "zooming"
        },
        {
          "start": 1978.76,
          "end": 1979.0,
          "text": "out"
        },
        {
          "start": 1979.2,
          "end": 1979.32,
          "text": "and"
        },
        {
          "start": 1979.36,
          "end": 1979.6,
          "text": "taking"
        },
        {
          "start": 1979.64,
          "end": 1979.68,
          "text": "the"
        },
        {
          "start": 1979.72,
          "end": 1979.84,
          "text": "big"
        },
        {
          "start": 1980.44,
          "end": 1980.52,
          "text": "But"
        },
        {
          "start": 1980.6,
          "end": 1980.68,
          "text": "we"
        },
        {
          "start": 1980.72,
          "end": 1980.92,
          "text": "talked"
        },
        {
          "start": 1980.92,
          "end": 1981.2,
          "text": "about"
        },
        {
          "start": 1981.24,
          "end": 1981.36,
          "text": "what"
        },
        {
          "start": 1981.44,
          "end": 1981.72,
          "text": "camp"
        },
        {
          "start": 1981.76,
          "end": 1981.96,
          "text": "means"
        },
        {
          "start": 1981.96,
          "end": 1982.0,
          "text": "in"
        },
        {
          "start": 1982.04,
          "end": 1982.08,
          "text": "the"
        },
        {
          "start": 1982.12,
          "end": 1982.48,
          "text": "global"
        },
        {
          "start": 1982.52,
          "end": 1982.88,
          "text": "scale"
        },
        {
          "start": 1982.92,
          "end": 1983.0,
          "text": "and"
        },
        {
          "start": 1983.0,
          "end": 1983.12,
          "text": "how"
        },
        {
          "start": 1983.12,
          "end": 1983.24,
          "text": "it's"
        },
        {
          "start": 1983.28,
          "end": 1983.4,
          "text": "all"
        },
        {
          "start": 1983.4,
          "end": 1983.56,
          "text": "that,"
        },
        {
          "start": 1983.68,
          "end": 1983.72,
          "text": "but"
        },
        {
          "start": 1983.76,
          "end": 1983.92,
          "text": "it's"
        },
        {
          "start": 1983.92,
          "end": 1984.08,
          "text": "also"
        },
        {
          "start": 1984.12,
          "end": 1984.32,
          "text": "super"
        },
        {
          "start": 1984.32,
          "end": 1984.6,
          "text": "super"
        },
        {
          "start": 1984.6,
          "end": 1985.12,
          "text": "granular,"
        },
        {
          "start": 1985.2,
          "end": 1985.28,
          "text": "so"
        },
        {
          "start": 1985.84,
          "end": 1986.48,
          "text": "understanding"
        },
        {
          "start": 1986.48,
          "end": 1986.56,
          "text": "you"
        },
        {
          "start": 1986.6,
          "end": 1986.8,
          "text": "really"
        },
        {
          "start": 1986.84,
          "end": 1987.0,
          "text": "want"
        },
        {
          "start": 1987.0,
          "end": 1987.08,
          "text": "to"
        },
        {
          "start": 1987.16,
          "end": 1987.64,
          "text": "understand,"
        },
        {
          "start": 1987.68,
          "end": 1987.72,
          "text": "like"
        },
        {
          "start": 1987.76,
          "end": 1987.96,
          "text": "where"
        },
        {
          "start": 1988.0,
          "end": 1988.12,
          "text": "their"
        },
        {
          "start": 1988.2,
          "end": 1988.36,
          "text": "real"
        },
        {
          "start": 1988.36,
          "end": 1988.88,
          "text": "competency"
        },
        {
          "start": 1988.96,
          "end": 1989.04,
          "text": "is"
        },
        {
          "start": 1989.04,
          "end": 1989.16,
          "text": "as"
        },
        {
          "start": 1989.16,
          "end": 1989.2,
          "text": "the"
        },
        {
          "start": 1989.28,
          "end": 1989.48,
          "text": "multi"
        },
        {
          "start": 1989.48,
          "end": 1989.84,
          "text": "strated,"
        },
        {
          "start": 1989.88,
          "end": 1990.2,
          "text": "because"
        },
        {
          "start": 1990.92,
          "end": 1991.2,
          "text": "many"
        },
        {
          "start": 1991.24,
          "end": 1991.68,
          "text": "places"
        },
        {
          "start": 1991.72,
          "end": 1992.04,
          "text": "start"
        },
        {
          "start": 1992.12,
          "end": 1992.36,
          "text": "off"
        },
        {
          "start": 1992.6,
          "end": 1992.68,
          "text": "with"
        },
        {
          "start": 1992.76,
          "end": 1992.84,
          "text": "a"
        },
        {
          "start": 1992.84,
          "end": 1993.4,
          "text": "particular"
        },
        {
          "start": 1993.48,
          "end": 1993.64,
          "text": "kind"
        },
        {
          "start": 1993.64,
          "end": 1993.68,
          "text": "of"
        },
        {
          "start": 1993.76,
          "end": 1993.92,
          "text": "thing."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 1993.92,
          "end": 1994.12,
          "text": "They're"
        },
        {
          "start": 1994.16,
          "end": 1994.36,
          "text": "good"
        },
        {
          "start": 1994.36,
          "end": 1994.56,
          "text": "at."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 1994.92,
          "end": 1995.52,
          "text": "Equities,"
        },
        {
          "start": 1995.84,
          "end": 1996.12,
          "text": "Yeah,"
        },
        {
          "start": 1996.2,
          "end": 1996.48,
          "text": "right,"
        },
        {
          "start": 1996.72,
          "end": 1996.8,
          "text": "you"
        },
        {
          "start": 1996.8,
          "end": 1996.88,
          "text": "know,"
        },
        {
          "start": 1996.92,
          "end": 1997.0,
          "text": "at"
        },
        {
          "start": 1997.04,
          "end": 1997.08,
          "text": "the"
        },
        {
          "start": 1997.12,
          "end": 1997.24,
          "text": "end"
        },
        {
          "start": 1997.24,
          "end": 1997.28,
          "text": "of"
        },
        {
          "start": 1997.32,
          "end": 1997.4,
          "text": "the"
        },
        {
          "start": 1997.44,
          "end": 1997.64,
          "text": "day,"
        },
        {
          "start": 1997.88,
          "end": 1998.08,
          "text": "most"
        },
        {
          "start": 1998.16,
          "end": 1998.4,
          "text": "multi"
        },
        {
          "start": 1998.4,
          "end": 1998.96,
          "text": "strategies"
        },
        {
          "start": 1999.0,
          "end": 1999.16,
          "text": "make"
        },
        {
          "start": 1999.2,
          "end": 1999.4,
          "text": "most"
        },
        {
          "start": 1999.44,
          "end": 1999.48,
          "text": "of"
        },
        {
          "start": 1999.52,
          "end": 1999.68,
          "text": "their"
        },
        {
          "start": 1999.72,
          "end": 2000.04,
          "text": "money"
        },
        {
          "start": 2000.44,
          "end": 2000.64,
          "text": "from"
        },
        {
          "start": 2000.72,
          "end": 2000.92,
          "text": "kind"
        },
        {
          "start": 2000.92,
          "end": 2001.0,
          "text": "of"
        },
        {
          "start": 2001.2,
          "end": 2001.28,
          "text": "I"
        },
        {
          "start": 2001.28,
          "end": 2001.48,
          "text": "would"
        },
        {
          "start": 2001.52,
          "end": 2001.68,
          "text": "call"
        },
        {
          "start": 2001.68,
          "end": 2001.8,
          "text": "it"
        },
        {
          "start": 2001.88,
          "end": 2002.24,
          "text": "equity"
        },
        {
          "start": 2002.28,
          "end": 2002.64,
          "text": "alpha"
        },
        {
          "start": 2003.08,
          "end": 2003.16,
          "text": "for"
        },
        {
          "start": 2003.24,
          "end": 2003.36,
          "text": "lack"
        },
        {
          "start": 2003.4,
          "end": 2003.44,
          "text": "of"
        },
        {
          "start": 2003.48,
          "end": 2003.56,
          "text": "a"
        },
        {
          "start": 2003.56,
          "end": 2003.72,
          "text": "better"
        },
        {
          "start": 2003.76,
          "end": 2003.92,
          "text": "word,"
        },
        {
          "start": 2003.96,
          "end": 2004.12,
          "text": "which"
        },
        {
          "start": 2004.16,
          "end": 2004.36,
          "text": "can"
        },
        {
          "start": 2004.64,
          "end": 2005.0,
          "text": "include"
        },
        {
          "start": 2005.0,
          "end": 2005.4,
          "text": "traditional"
        },
        {
          "start": 2005.4,
          "end": 2005.52,
          "text": "long"
        },
        {
          "start": 2005.52,
          "end": 2005.72,
          "text": "short"
        },
        {
          "start": 2005.76,
          "end": 2006.28,
          "text": "equity,"
        },
        {
          "start": 2006.68,
          "end": 2007.0,
          "text": "quant"
        },
        {
          "start": 2007.04,
          "end": 2007.64,
          "text": "equities"
        },
        {
          "start": 2008.24,
          "end": 2008.6,
          "text": "index"
        },
        {
          "start": 2008.68,
          "end": 2009.0,
          "text": "rebaal."
        },
        {
          "start": 2009.16,
          "end": 2009.36,
          "text": "We've"
        },
        {
          "start": 2009.4,
          "end": 2009.56,
          "text": "heard"
        },
        {
          "start": 2009.6,
          "end": 2009.8,
          "text": "about"
        },
        {
          "start": 2009.8,
          "end": 2009.84,
          "text": "that"
        },
        {
          "start": 2009.88,
          "end": 2009.92,
          "text": "a"
        },
        {
          "start": 2009.96,
          "end": 2010.12,
          "text": "couple"
        },
        {
          "start": 2010.16,
          "end": 2010.2,
          "text": "of"
        },
        {
          "start": 2010.24,
          "end": 2010.48,
          "text": "times."
        },
        {
          "start": 2010.48,
          "end": 2010.52,
          "text": "You"
        },
        {
          "start": 2010.6,
          "end": 2010.68,
          "text": "know,"
        },
        {
          "start": 2010.88,
          "end": 2011.04,
          "text": "all"
        },
        {
          "start": 2011.08,
          "end": 2011.16,
          "text": "this"
        },
        {
          "start": 2011.16,
          "end": 2011.32,
          "text": "sort"
        },
        {
          "start": 2011.36,
          "end": 2011.4,
          "text": "of"
        },
        {
          "start": 2011.4,
          "end": 2011.76,
          "text": "stuff"
        },
        {
          "start": 2011.84,
          "end": 2012.0,
          "text": "that's"
        },
        {
          "start": 2012.04,
          "end": 2012.2,
          "text": "kind"
        },
        {
          "start": 2012.2,
          "end": 2012.28,
          "text": "of"
        },
        {
          "start": 2012.28,
          "end": 2012.6,
          "text": "equity"
        },
        {
          "start": 2012.6,
          "end": 2012.88,
          "text": "alpha."
        },
        {
          "start": 2012.96,
          "end": 2013.08,
          "text": "Then"
        },
        {
          "start": 2013.12,
          "end": 2013.2,
          "text": "you"
        },
        {
          "start": 2013.2,
          "end": 2013.28,
          "text": "have"
        },
        {
          "start": 2013.32,
          "end": 2013.44,
          "text": "other"
        },
        {
          "start": 2013.48,
          "end": 2013.64,
          "text": "ones"
        },
        {
          "start": 2013.68,
          "end": 2013.84,
          "text": "who"
        },
        {
          "start": 2013.88,
          "end": 2013.96,
          "text": "have"
        },
        {
          "start": 2014.12,
          "end": 2014.28,
          "text": "more"
        },
        {
          "start": 2014.32,
          "end": 2014.68,
          "text": "focused"
        },
        {
          "start": 2014.68,
          "end": 2014.72,
          "text": "on"
        },
        {
          "start": 2014.8,
          "end": 2014.96,
          "text": "kind"
        },
        {
          "start": 2015.0,
          "end": 2015.04,
          "text": "of"
        },
        {
          "start": 2015.08,
          "end": 2015.36,
          "text": "fixed"
        },
        {
          "start": 2015.36,
          "end": 2015.64,
          "text": "income"
        },
        {
          "start": 2015.68,
          "end": 2015.76,
          "text": "and"
        },
        {
          "start": 2015.88,
          "end": 2016.24,
          "text": "credit,"
        },
        {
          "start": 2016.44,
          "end": 2016.52,
          "text": "you"
        },
        {
          "start": 2016.56,
          "end": 2016.68,
          "text": "know,"
        },
        {
          "start": 2016.8,
          "end": 2016.88,
          "text": "and"
        },
        {
          "start": 2016.92,
          "end": 2017.04,
          "text": "you've"
        },
        {
          "start": 2017.04,
          "end": 2017.2,
          "text": "got"
        },
        {
          "start": 2017.2,
          "end": 2017.24,
          "text": "to"
        },
        {
          "start": 2017.32,
          "end": 2017.68,
          "text": "understand"
        },
        {
          "start": 2017.72,
          "end": 2017.84,
          "text": "what"
        },
        {
          "start": 2017.88,
          "end": 2018.0,
          "text": "you're"
        },
        {
          "start": 2018.04,
          "end": 2018.28,
          "text": "getting."
        },
        {
          "start": 2018.36,
          "end": 2018.44,
          "text": "And"
        },
        {
          "start": 2018.56,
          "end": 2018.64,
          "text": "I"
        },
        {
          "start": 2018.64,
          "end": 2018.84,
          "text": "mean,"
        },
        {
          "start": 2019.56,
          "end": 2019.72,
          "text": "then"
        },
        {
          "start": 2019.72,
          "end": 2019.88,
          "text": "you've"
        },
        {
          "start": 2019.88,
          "end": 2020.08,
          "text": "got"
        },
        {
          "start": 2020.08,
          "end": 2020.12,
          "text": "to"
        },
        {
          "start": 2020.16,
          "end": 2020.28,
          "text": "think"
        },
        {
          "start": 2020.28,
          "end": 2020.56,
          "text": "about,"
        },
        {
          "start": 2020.64,
          "end": 2020.92,
          "text": "given"
        },
        {
          "start": 2020.96,
          "end": 2021.04,
          "text": "what"
        },
        {
          "start": 2021.12,
          "end": 2021.2,
          "text": "I"
        },
        {
          "start": 2021.2,
          "end": 2021.48,
          "text": "think"
        },
        {
          "start": 2022.12,
          "end": 2022.16,
          "text": "that"
        },
        {
          "start": 2022.28,
          "end": 2022.36,
          "text": "my"
        },
        {
          "start": 2022.4,
          "end": 2022.84,
          "text": "heuristic"
        },
        {
          "start": 2022.96,
          "end": 2023.04,
          "text": "or"
        },
        {
          "start": 2023.08,
          "end": 2023.16,
          "text": "my"
        },
        {
          "start": 2023.2,
          "end": 2023.52,
          "text": "mental"
        },
        {
          "start": 2023.56,
          "end": 2023.76,
          "text": "map"
        },
        {
          "start": 2023.8,
          "end": 2023.88,
          "text": "of"
        },
        {
          "start": 2023.88,
          "end": 2024.0,
          "text": "what"
        },
        {
          "start": 2024.04,
          "end": 2024.24,
          "text": "these"
        },
        {
          "start": 2024.24,
          "end": 2024.52,
          "text": "guys"
        },
        {
          "start": 2024.56,
          "end": 2024.76,
          "text": "are,"
        },
        {
          "start": 2025.72,
          "end": 2025.92,
          "text": "does"
        },
        {
          "start": 2025.96,
          "end": 2026.16,
          "text": "each"
        },
        {
          "start": 2026.24,
          "end": 2026.8,
          "text": "incremental"
        },
        {
          "start": 2026.88,
          "end": 2027.16,
          "text": "change"
        },
        {
          "start": 2027.16,
          "end": 2027.24,
          "text": "what"
        },
        {
          "start": 2027.28,
          "end": 2027.44,
          "text": "they"
        },
        {
          "start": 2027.44,
          "end": 2027.6,
          "text": "do."
        },
        {
          "start": 2027.6,
          "end": 2027.72,
          "text": "Does"
        },
        {
          "start": 2027.76,
          "end": 2027.84,
          "text": "that"
        },
        {
          "start": 2027.88,
          "end": 2028.04,
          "text": "makes"
        },
        {
          "start": 2028.08,
          "end": 2028.32,
          "text": "sense"
        },
        {
          "start": 2028.8,
          "end": 2029.2,
          "text": "because"
        },
        {
          "start": 2029.92,
          "end": 2030.0,
          "text": "you"
        },
        {
          "start": 2030.04,
          "end": 2030.12,
          "text": "know,"
        },
        {
          "start": 2030.2,
          "end": 2030.28,
          "text": "I"
        },
        {
          "start": 2030.28,
          "end": 2030.44,
          "text": "mean"
        },
        {
          "start": 2030.48,
          "end": 2030.6,
          "text": "one"
        },
        {
          "start": 2030.64,
          "end": 2030.68,
          "text": "of"
        },
        {
          "start": 2030.72,
          "end": 2030.8,
          "text": "the"
        },
        {
          "start": 2030.84,
          "end": 2031.16,
          "text": "things"
        },
        {
          "start": 2031.76,
          "end": 2031.84,
          "text": "I"
        },
        {
          "start": 2031.96,
          "end": 2032.0,
          "text": "like"
        },
        {
          "start": 2032.04,
          "end": 2032.12,
          "text": "to"
        },
        {
          "start": 2032.12,
          "end": 2032.24,
          "text": "think"
        },
        {
          "start": 2032.28,
          "end": 2032.48,
          "text": "about"
        },
        {
          "start": 2032.6,
          "end": 2032.64,
          "text": "is"
        },
        {
          "start": 2032.96,
          "end": 2033.2,
          "text": "making"
        },
        {
          "start": 2033.2,
          "end": 2033.36,
          "text": "sure"
        },
        {
          "start": 2033.4,
          "end": 2033.48,
          "text": "that"
        },
        {
          "start": 2033.52,
          "end": 2033.56,
          "text": "the"
        },
        {
          "start": 2033.64,
          "end": 2033.96,
          "text": "stories"
        },
        {
          "start": 2033.96,
          "end": 2034.08,
          "text": "are"
        },
        {
          "start": 2034.08,
          "end": 2034.44,
          "text": "aligned."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2034.92,
          "end": 2035.12,
          "text": "Very"
        },
        {
          "start": 2035.12,
          "end": 2035.44,
          "text": "simple"
        },
        {
          "start": 2035.44,
          "end": 2035.72,
          "text": "stuff."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2035.76,
          "end": 2035.84,
          "text": "Right,"
        },
        {
          "start": 2035.92,
          "end": 2036.12,
          "text": "Let's"
        },
        {
          "start": 2036.12,
          "end": 2036.32,
          "text": "say"
        },
        {
          "start": 2036.48,
          "end": 2036.64,
          "text": "I'm"
        },
        {
          "start": 2036.64,
          "end": 2036.72,
          "text": "a"
        },
        {
          "start": 2036.72,
          "end": 2036.92,
          "text": "pod"
        },
        {
          "start": 2036.92,
          "end": 2037.16,
          "text": "shot"
        },
        {
          "start": 2037.16,
          "end": 2037.52,
          "text": "manager,"
        },
        {
          "start": 2037.52,
          "end": 2037.68,
          "text": "you're"
        },
        {
          "start": 2037.68,
          "end": 2037.76,
          "text": "an"
        },
        {
          "start": 2037.76,
          "end": 2038.2,
          "text": "allocator"
        },
        {
          "start": 2038.28,
          "end": 2038.36,
          "text": "in"
        },
        {
          "start": 2038.44,
          "end": 2038.68,
          "text": "here,"
        },
        {
          "start": 2039.44,
          "end": 2039.68,
          "text": "and."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2039.6,
          "end": 2039.68,
          "text": "I"
        },
        {
          "start": 2039.68,
          "end": 2039.76,
          "text": "go"
        },
        {
          "start": 2039.84,
          "end": 2039.92,
          "text": "on"
        },
        {
          "start": 2040.12,
          "end": 2040.2,
          "text": "you"
        },
        {
          "start": 2040.24,
          "end": 2040.36,
          "text": "know"
        },
        {
          "start": 2040.72,
          "end": 2040.8,
          "text": "to"
        },
        {
          "start": 2040.84,
          "end": 2041.0,
          "text": "ask"
        },
        {
          "start": 2041.08,
          "end": 2041.12,
          "text": "a"
        },
        {
          "start": 2041.2,
          "end": 2041.76,
          "text": "constructure,"
        },
        {
          "start": 2041.8,
          "end": 2042.0,
          "text": "Well,"
        },
        {
          "start": 2042.08,
          "end": 2042.16,
          "text": "my"
        },
        {
          "start": 2042.24,
          "end": 2042.8,
          "text": "pms."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2043.0,
          "end": 2043.08,
          "text": "You"
        },
        {
          "start": 2043.08,
          "end": 2043.2,
          "text": "know,"
        },
        {
          "start": 2043.2,
          "end": 2043.28,
          "text": "we"
        },
        {
          "start": 2043.36,
          "end": 2043.52,
          "text": "put"
        },
        {
          "start": 2043.52,
          "end": 2043.64,
          "text": "them"
        },
        {
          "start": 2043.68,
          "end": 2043.72,
          "text": "in"
        },
        {
          "start": 2043.76,
          "end": 2043.8,
          "text": "a"
        },
        {
          "start": 2043.88,
          "end": 2044.08,
          "text": "room,"
        },
        {
          "start": 2044.6,
          "end": 2044.76,
          "text": "give"
        },
        {
          "start": 2044.8,
          "end": 2044.88,
          "text": "them"
        },
        {
          "start": 2044.88,
          "end": 2045.4,
          "text": "Bloomberg,"
        },
        {
          "start": 2045.44,
          "end": 2045.52,
          "text": "We"
        },
        {
          "start": 2045.56,
          "end": 2045.72,
          "text": "give"
        },
        {
          "start": 2045.76,
          "end": 2046.2,
          "text": "them"
        },
        {
          "start": 2046.36,
          "end": 2046.52,
          "text": "all"
        },
        {
          "start": 2046.52,
          "end": 2046.6,
          "text": "the"
        },
        {
          "start": 2046.6,
          "end": 2046.96,
          "text": "facility"
        },
        {
          "start": 2047.0,
          "end": 2047.12,
          "text": "they"
        },
        {
          "start": 2047.12,
          "end": 2047.24,
          "text": "need."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2047.28,
          "end": 2047.32,
          "text": "We"
        },
        {
          "start": 2047.4,
          "end": 2047.6,
          "text": "charge"
        },
        {
          "start": 2047.64,
          "end": 2047.72,
          "text": "them"
        },
        {
          "start": 2047.76,
          "end": 2047.84,
          "text": "for"
        },
        {
          "start": 2047.84,
          "end": 2047.92,
          "text": "that,"
        },
        {
          "start": 2048.36,
          "end": 2048.48,
          "text": "and"
        },
        {
          "start": 2048.52,
          "end": 2048.72,
          "text": "they"
        },
        {
          "start": 2048.76,
          "end": 2048.88,
          "text": "just"
        },
        {
          "start": 2048.92,
          "end": 2049.08,
          "text": "get"
        },
        {
          "start": 2049.12,
          "end": 2049.32,
          "text": "paid"
        },
        {
          "start": 2049.32,
          "end": 2049.4,
          "text": "on"
        },
        {
          "start": 2049.4,
          "end": 2049.52,
          "text": "their"
        },
        {
          "start": 2049.52,
          "end": 2049.68,
          "text": "own"
        },
        {
          "start": 2049.72,
          "end": 2049.76,
          "text": "P"
        },
        {
          "start": 2049.84,
          "end": 2049.92,
          "text": "and"
        },
        {
          "start": 2050.0,
          "end": 2050.08,
          "text": "L."
        },
        {
          "start": 2050.28,
          "end": 2050.56,
          "text": "Yeah."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2050.72,
          "end": 2050.92,
          "text": "Oh"
        },
        {
          "start": 2051.04,
          "end": 2051.36,
          "text": "okay,"
        },
        {
          "start": 2051.52,
          "end": 2051.6,
          "text": "you"
        },
        {
          "start": 2051.64,
          "end": 2051.84,
          "text": "say,"
        },
        {
          "start": 2051.84,
          "end": 2051.88,
          "text": "I"
        },
        {
          "start": 2051.96,
          "end": 2052.16,
          "text": "find"
        },
        {
          "start": 2052.24,
          "end": 2052.48,
          "text": "good"
        },
        {
          "start": 2052.72,
          "end": 2052.8,
          "text": "And"
        },
        {
          "start": 2052.84,
          "end": 2052.96,
          "text": "then"
        },
        {
          "start": 2053.0,
          "end": 2053.04,
          "text": "you"
        },
        {
          "start": 2053.08,
          "end": 2053.2,
          "text": "say,"
        },
        {
          "start": 2053.24,
          "end": 2053.48,
          "text": "okay,"
        },
        {
          "start": 2053.52,
          "end": 2053.68,
          "text": "well"
        },
        {
          "start": 2053.92,
          "end": 2054.12,
          "text": "talk"
        },
        {
          "start": 2054.12,
          "end": 2054.2,
          "text": "to"
        },
        {
          "start": 2054.28,
          "end": 2054.32,
          "text": "me"
        },
        {
          "start": 2054.36,
          "end": 2054.56,
          "text": "about"
        },
        {
          "start": 2054.6,
          "end": 2054.64,
          "text": "you"
        },
        {
          "start": 2054.64,
          "end": 2054.72,
          "text": "know"
        },
        {
          "start": 2054.88,
          "end": 2054.96,
          "text": "what"
        },
        {
          "start": 2055.0,
          "end": 2055.16,
          "text": "sort"
        },
        {
          "start": 2055.16,
          "end": 2055.2,
          "text": "of"
        },
        {
          "start": 2055.24,
          "end": 2055.52,
          "text": "culture"
        },
        {
          "start": 2055.52,
          "end": 2055.56,
          "text": "you"
        },
        {
          "start": 2055.64,
          "end": 2055.72,
          "text": "have?"
        },
        {
          "start": 2055.76,
          "end": 2055.88,
          "text": "Oh"
        },
        {
          "start": 2055.96,
          "end": 2056.2,
          "text": "yeah,"
        },
        {
          "start": 2056.28,
          "end": 2056.48,
          "text": "well,"
        },
        {
          "start": 2056.52,
          "end": 2056.88,
          "text": "actually"
        },
        {
          "start": 2056.88,
          "end": 2056.96,
          "text": "you"
        },
        {
          "start": 2057.0,
          "end": 2057.08,
          "text": "know"
        },
        {
          "start": 2057.12,
          "end": 2057.2,
          "text": "what"
        },
        {
          "start": 2057.24,
          "end": 2057.32,
          "text": "we"
        },
        {
          "start": 2057.36,
          "end": 2057.64,
          "text": "also,"
        },
        {
          "start": 2057.72,
          "end": 2057.8,
          "text": "you"
        },
        {
          "start": 2057.8,
          "end": 2057.92,
          "text": "know,"
        },
        {
          "start": 2058.08,
          "end": 2058.12,
          "text": "we"
        },
        {
          "start": 2058.2,
          "end": 2058.32,
          "text": "have"
        },
        {
          "start": 2058.32,
          "end": 2058.4,
          "text": "a"
        },
        {
          "start": 2058.44,
          "end": 2058.6,
          "text": "real"
        },
        {
          "start": 2058.64,
          "end": 2059.04,
          "text": "cooperative"
        },
        {
          "start": 2059.08,
          "end": 2059.36,
          "text": "culture"
        },
        {
          "start": 2059.48,
          "end": 2059.76,
          "text": "becomes"
        },
        {
          "start": 2059.84,
          "end": 2060.08,
          "text": "loved"
        },
        {
          "start": 2060.12,
          "end": 2060.32,
          "text": "here."
        },
        {
          "start": 2060.84,
          "end": 2060.92,
          "text": "You"
        },
        {
          "start": 2060.96,
          "end": 2061.08,
          "text": "know,"
        },
        {
          "start": 2061.12,
          "end": 2061.2,
          "text": "they"
        },
        {
          "start": 2061.24,
          "end": 2061.36,
          "text": "all"
        },
        {
          "start": 2061.4,
          "end": 2061.52,
          "text": "get"
        },
        {
          "start": 2061.52,
          "end": 2061.72,
          "text": "back"
        },
        {
          "start": 2061.72,
          "end": 2062.28,
          "text": "massages"
        },
        {
          "start": 2062.48,
          "end": 2062.64,
          "text": "and"
        },
        {
          "start": 2062.72,
          "end": 2062.8,
          "text": "we"
        },
        {
          "start": 2062.88,
          "end": 2063.04,
          "text": "all"
        },
        {
          "start": 2063.04,
          "end": 2063.2,
          "text": "work"
        },
        {
          "start": 2063.24,
          "end": 2063.52,
          "text": "together"
        },
        {
          "start": 2063.52,
          "end": 2063.64,
          "text": "as"
        },
        {
          "start": 2063.64,
          "end": 2063.92,
          "text": "across"
        },
        {
          "start": 2063.92,
          "end": 2063.96,
          "text": "the"
        },
        {
          "start": 2064.4,
          "end": 2064.56,
          "text": "team"
        },
        {
          "start": 2064.6,
          "end": 2064.72,
          "text": "as"
        },
        {
          "start": 2064.72,
          "end": 2064.92,
          "text": "well,"
        },
        {
          "start": 2065.32,
          "end": 2065.44,
          "text": "you"
        },
        {
          "start": 2065.48,
          "end": 2065.56,
          "text": "know,"
        },
        {
          "start": 2065.96,
          "end": 2066.04,
          "text": "and"
        },
        {
          "start": 2066.08,
          "end": 2066.24,
          "text": "you're"
        },
        {
          "start": 2066.28,
          "end": 2066.4,
          "text": "kind"
        },
        {
          "start": 2066.4,
          "end": 2066.48,
          "text": "of"
        },
        {
          "start": 2066.48,
          "end": 2066.68,
          "text": "going"
        },
        {
          "start": 2067.56,
          "end": 2067.92,
          "text": "answer"
        },
        {
          "start": 2067.96,
          "end": 2068.56,
          "text": "one"
        },
        {
          "start": 2068.64,
          "end": 2068.68,
          "text": "and"
        },
        {
          "start": 2068.8,
          "end": 2069.04,
          "text": "answer"
        },
        {
          "start": 2069.12,
          "end": 2069.16,
          "text": "to"
        },
        {
          "start": 2069.28,
          "end": 2069.48,
          "text": "don't"
        },
        {
          "start": 2069.52,
          "end": 2069.64,
          "text": "make"
        },
        {
          "start": 2069.68,
          "end": 2069.88,
          "text": "sense"
        },
        {
          "start": 2069.92,
          "end": 2070.2,
          "text": "together,"
        },
        {
          "start": 2070.76,
          "end": 2071.0,
          "text": "right,"
        },
        {
          "start": 2071.16,
          "end": 2071.24,
          "text": "And"
        },
        {
          "start": 2071.28,
          "end": 2071.36,
          "text": "you"
        },
        {
          "start": 2071.4,
          "end": 2071.6,
          "text": "see"
        },
        {
          "start": 2071.6,
          "end": 2071.68,
          "text": "this"
        },
        {
          "start": 2071.72,
          "end": 2071.8,
          "text": "in"
        },
        {
          "start": 2071.84,
          "end": 2071.96,
          "text": "all"
        },
        {
          "start": 2072.0,
          "end": 2072.2,
          "text": "sorts"
        },
        {
          "start": 2072.2,
          "end": 2072.24,
          "text": "of"
        },
        {
          "start": 2072.28,
          "end": 2072.44,
          "text": "sort"
        },
        {
          "start": 2072.48,
          "end": 2072.52,
          "text": "of"
        },
        {
          "start": 2072.64,
          "end": 2072.92,
          "text": "ways,"
        },
        {
          "start": 2073.0,
          "end": 2073.04,
          "text": "you"
        },
        {
          "start": 2073.08,
          "end": 2073.16,
          "text": "know,"
        },
        {
          "start": 2073.2,
          "end": 2073.28,
          "text": "And"
        },
        {
          "start": 2073.32,
          "end": 2073.36,
          "text": "the"
        },
        {
          "start": 2073.4,
          "end": 2073.56,
          "text": "thing"
        },
        {
          "start": 2073.64,
          "end": 2073.72,
          "text": "is"
        },
        {
          "start": 2073.76,
          "end": 2073.92,
          "text": "that"
        },
        {
          "start": 2074.16,
          "end": 2074.2,
          "text": "what"
        },
        {
          "start": 2074.4,
          "end": 2074.84,
          "text": "happened"
        },
        {
          "start": 2075.08,
          "end": 2075.2,
          "text": "is"
        },
        {
          "start": 2075.24,
          "end": 2075.4,
          "text": "that"
        },
        {
          "start": 2075.52,
          "end": 2075.84,
          "text": "people"
        },
        {
          "start": 2075.88,
          "end": 2076.0,
          "text": "have"
        },
        {
          "start": 2076.76,
          "end": 2076.84,
          "text": "you"
        },
        {
          "start": 2076.84,
          "end": 2076.96,
          "text": "know,"
        },
        {
          "start": 2077.0,
          "end": 2077.08,
          "text": "the"
        },
        {
          "start": 2077.08,
          "end": 2077.56,
          "text": "successful"
        },
        {
          "start": 2077.6,
          "end": 2077.8,
          "text": "funds"
        },
        {
          "start": 2077.84,
          "end": 2077.92,
          "text": "are"
        },
        {
          "start": 2077.92,
          "end": 2077.96,
          "text": "the"
        },
        {
          "start": 2078.0,
          "end": 2078.16,
          "text": "ones"
        },
        {
          "start": 2078.16,
          "end": 2078.4,
          "text": "who's"
        },
        {
          "start": 2078.44,
          "end": 2078.84,
          "text": "answered"
        },
        {
          "start": 2078.96,
          "end": 2079.16,
          "text": "made"
        },
        {
          "start": 2079.16,
          "end": 2079.4,
          "text": "answer"
        },
        {
          "start": 2079.44,
          "end": 2079.6,
          "text": "one"
        },
        {
          "start": 2079.6,
          "end": 2079.64,
          "text": "and"
        },
        {
          "start": 2079.72,
          "end": 2080.0,
          "text": "answer"
        },
        {
          "start": 2080.0,
          "end": 2080.04,
          "text": "to"
        },
        {
          "start": 2080.28,
          "end": 2080.44,
          "text": "come"
        },
        {
          "start": 2081.2,
          "end": 2081.24,
          "text": "I"
        },
        {
          "start": 2081.36,
          "end": 2081.52,
          "text": "line"
        },
        {
          "start": 2081.6,
          "end": 2081.72,
          "text": "up"
        },
        {
          "start": 2081.72,
          "end": 2082.0,
          "text": "together,"
        },
        {
          "start": 2082.48,
          "end": 2082.56,
          "text": "you"
        },
        {
          "start": 2082.6,
          "end": 2082.72,
          "text": "know,"
        },
        {
          "start": 2083.12,
          "end": 2083.2,
          "text": "in"
        },
        {
          "start": 2083.24,
          "end": 2083.6,
          "text": "whichever"
        },
        {
          "start": 2083.64,
          "end": 2083.76,
          "text": "way"
        },
        {
          "start": 2083.8,
          "end": 2083.88,
          "text": "it"
        },
        {
          "start": 2083.88,
          "end": 2084.08,
          "text": "needs"
        },
        {
          "start": 2084.12,
          "end": 2084.2,
          "text": "to"
        },
        {
          "start": 2084.24,
          "end": 2084.32,
          "text": "be."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2084.56,
          "end": 2084.8,
          "text": "They've"
        },
        {
          "start": 2084.84,
          "end": 2085.08,
          "text": "worked"
        },
        {
          "start": 2085.08,
          "end": 2085.12,
          "text": "on"
        },
        {
          "start": 2085.28,
          "end": 2085.84,
          "text": "ways."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2085.6,
          "end": 2085.72,
          "text": "That"
        },
        {
          "start": 2085.8,
          "end": 2086.0,
          "text": "makes"
        },
        {
          "start": 2086.04,
          "end": 2086.32,
          "text": "sense"
        },
        {
          "start": 2087.0,
          "end": 2087.08,
          "text": "that"
        },
        {
          "start": 2087.12,
          "end": 2087.32,
          "text": "they're"
        },
        {
          "start": 2087.44,
          "end": 2087.6,
          "text": "kind"
        },
        {
          "start": 2087.6,
          "end": 2087.68,
          "text": "of"
        },
        {
          "start": 2088.16,
          "end": 2088.24,
          "text": "I"
        },
        {
          "start": 2088.28,
          "end": 2088.48,
          "text": "hate"
        },
        {
          "start": 2088.48,
          "end": 2088.52,
          "text": "to"
        },
        {
          "start": 2088.52,
          "end": 2088.68,
          "text": "say"
        },
        {
          "start": 2088.68,
          "end": 2088.88,
          "text": "about"
        },
        {
          "start": 2088.88,
          "end": 2088.92,
          "text": "like"
        },
        {
          "start": 2088.96,
          "end": 2089.0,
          "text": "a"
        },
        {
          "start": 2089.08,
          "end": 2089.44,
          "text": "narrative"
        },
        {
          "start": 2089.44,
          "end": 2089.92,
          "text": "alignment"
        },
        {
          "start": 2089.92,
          "end": 2090.0,
          "text": "and"
        },
        {
          "start": 2090.04,
          "end": 2090.16,
          "text": "how"
        },
        {
          "start": 2090.2,
          "end": 2090.28,
          "text": "they"
        },
        {
          "start": 2090.36,
          "end": 2090.52,
          "text": "do"
        },
        {
          "start": 2090.6,
          "end": 2090.88,
          "text": "things."
        },
        {
          "start": 2091.08,
          "end": 2091.24,
          "text": "They"
        },
        {
          "start": 2091.28,
          "end": 2091.4,
          "text": "know"
        },
        {
          "start": 2091.4,
          "end": 2091.48,
          "text": "what"
        },
        {
          "start": 2091.48,
          "end": 2091.68,
          "text": "they're"
        },
        {
          "start": 2091.68,
          "end": 2091.88,
          "text": "good"
        },
        {
          "start": 2091.88,
          "end": 2092.32,
          "text": "at,"
        },
        {
          "start": 2092.92,
          "end": 2093.04,
          "text": "you"
        },
        {
          "start": 2093.04,
          "end": 2093.16,
          "text": "know,"
        },
        {
          "start": 2093.48,
          "end": 2093.56,
          "text": "like"
        },
        {
          "start": 2093.64,
          "end": 2093.76,
          "text": "what"
        },
        {
          "start": 2093.84,
          "end": 2094.0,
          "text": "for"
        },
        {
          "start": 2094.04,
          "end": 2094.44,
          "text": "example,"
        },
        {
          "start": 2094.44,
          "end": 2094.52,
          "text": "you"
        },
        {
          "start": 2094.52,
          "end": 2094.72,
          "text": "don't"
        },
        {
          "start": 2094.76,
          "end": 2094.84,
          "text": "have"
        },
        {
          "start": 2094.88,
          "end": 2095.16,
          "text": "somebody"
        },
        {
          "start": 2095.2,
          "end": 2095.48,
          "text": "who's"
        },
        {
          "start": 2095.64,
          "end": 2096.0,
          "text": "really"
        },
        {
          "start": 2096.04,
          "end": 2096.32,
          "text": "really"
        },
        {
          "start": 2096.32,
          "end": 2096.44,
          "text": "got"
        },
        {
          "start": 2096.48,
          "end": 2096.6,
          "text": "an"
        },
        {
          "start": 2096.6,
          "end": 2097.04,
          "text": "equities"
        },
        {
          "start": 2097.08,
          "end": 2097.6,
          "text": "background"
        },
        {
          "start": 2098.52,
          "end": 2098.56,
          "text": "to"
        },
        {
          "start": 2098.64,
          "end": 2099.08,
          "text": "suddenly"
        },
        {
          "start": 2099.08,
          "end": 2099.44,
          "text": "decide"
        },
        {
          "start": 2099.44,
          "end": 2099.52,
          "text": "to"
        },
        {
          "start": 2099.56,
          "end": 2099.8,
          "text": "hire"
        },
        {
          "start": 2099.84,
          "end": 2099.92,
          "text": "some"
        },
        {
          "start": 2100.28,
          "end": 2100.32,
          "text": "you"
        },
        {
          "start": 2100.4,
          "end": 2100.48,
          "text": "know,"
        },
        {
          "start": 2100.56,
          "end": 2100.96,
          "text": "rockstar"
        },
        {
          "start": 2101.04,
          "end": 2101.12,
          "text": "and"
        },
        {
          "start": 2101.12,
          "end": 2101.52,
          "text": "allocate"
        },
        {
          "start": 2101.6,
          "end": 2101.84,
          "text": "forty"
        },
        {
          "start": 2101.88,
          "end": 2102.16,
          "text": "percent"
        },
        {
          "start": 2102.2,
          "end": 2102.4,
          "text": "into"
        },
        {
          "start": 2102.4,
          "end": 2102.96,
          "text": "commodities."
        },
        {
          "start": 2103.6,
          "end": 2103.68,
          "text": "You"
        },
        {
          "start": 2103.72,
          "end": 2103.8,
          "text": "know,"
        },
        {
          "start": 2104.12,
          "end": 2104.2,
          "text": "that"
        },
        {
          "start": 2104.24,
          "end": 2104.48,
          "text": "would"
        },
        {
          "start": 2104.48,
          "end": 2104.52,
          "text": "be"
        },
        {
          "start": 2104.6,
          "end": 2104.72,
          "text": "kind"
        },
        {
          "start": 2104.76,
          "end": 2104.8,
          "text": "of"
        },
        {
          "start": 2104.8,
          "end": 2104.88,
          "text": "a"
        },
        {
          "start": 2104.92,
          "end": 2105.2,
          "text": "weird"
        },
        {
          "start": 2105.2,
          "end": 2105.4,
          "text": "thing."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2105.96,
          "end": 2106.24,
          "text": "Well,"
        },
        {
          "start": 2106.44,
          "end": 2106.56,
          "text": "so"
        },
        {
          "start": 2106.68,
          "end": 2106.72,
          "text": "I"
        },
        {
          "start": 2107.0,
          "end": 2107.08,
          "text": "know"
        },
        {
          "start": 2107.12,
          "end": 2107.28,
          "text": "you're"
        },
        {
          "start": 2107.32,
          "end": 2107.4,
          "text": "not"
        },
        {
          "start": 2107.4,
          "end": 2107.52,
          "text": "going"
        },
        {
          "start": 2107.6,
          "end": 2107.64,
          "text": "to"
        },
        {
          "start": 2107.76,
          "end": 2107.88,
          "text": "like"
        },
        {
          "start": 2108.12,
          "end": 2108.36,
          "text": "name"
        },
        {
          "start": 2108.72,
          "end": 2109.0,
          "text": "any"
        },
        {
          "start": 2109.36,
          "end": 2109.96,
          "text": "specific"
        },
        {
          "start": 2110.04,
          "end": 2110.36,
          "text": "names."
        },
        {
          "start": 2110.44,
          "end": 2110.48,
          "text": "I"
        },
        {
          "start": 2110.52,
          "end": 2110.72,
          "text": "will"
        },
        {
          "start": 2110.8,
          "end": 2110.96,
          "text": "name"
        },
        {
          "start": 2111.08,
          "end": 2111.16,
          "text": "some"
        },
        {
          "start": 2111.32,
          "end": 2111.68,
          "text": "names,"
        },
        {
          "start": 2111.72,
          "end": 2111.84,
          "text": "but"
        },
        {
          "start": 2111.88,
          "end": 2111.96,
          "text": "you"
        },
        {
          "start": 2111.96,
          "end": 2112.16,
          "text": "don't"
        },
        {
          "start": 2112.2,
          "end": 2112.28,
          "text": "have"
        },
        {
          "start": 2112.32,
          "end": 2112.44,
          "text": "to"
        },
        {
          "start": 2112.48,
          "end": 2112.64,
          "text": "talk"
        },
        {
          "start": 2112.68,
          "end": 2112.92,
          "text": "about"
        },
        {
          "start": 2112.92,
          "end": 2113.08,
          "text": "them"
        },
        {
          "start": 2113.24,
          "end": 2113.76,
          "text": "directly,"
        },
        {
          "start": 2114.24,
          "end": 2114.32,
          "text": "you"
        },
        {
          "start": 2114.36,
          "end": 2114.44,
          "text": "know,"
        },
        {
          "start": 2114.64,
          "end": 2114.72,
          "text": "like"
        },
        {
          "start": 2114.8,
          "end": 2114.84,
          "text": "I"
        },
        {
          "start": 2114.96,
          "end": 2115.44,
          "text": "mentioned"
        },
        {
          "start": 2115.92,
          "end": 2116.2,
          "text": "someone"
        },
        {
          "start": 2116.28,
          "end": 2116.36,
          "text": "like"
        },
        {
          "start": 2116.44,
          "end": 2116.68,
          "text": "Ken"
        },
        {
          "start": 2116.72,
          "end": 2117.16,
          "text": "Griffin"
        },
        {
          "start": 2118.0,
          "end": 2118.08,
          "text": "or"
        },
        {
          "start": 2118.12,
          "end": 2118.2,
          "text": "in"
        },
        {
          "start": 2118.32,
          "end": 2118.6,
          "text": "Izy"
        },
        {
          "start": 2118.68,
          "end": 2119.08,
          "text": "England"
        },
        {
          "start": 2119.16,
          "end": 2119.4,
          "text": "or"
        },
        {
          "start": 2119.44,
          "end": 2119.56,
          "text": "at"
        },
        {
          "start": 2119.6,
          "end": 2120.16,
          "text": "Millennium."
        },
        {
          "start": 2120.68,
          "end": 2120.88,
          "text": "When"
        },
        {
          "start": 2120.92,
          "end": 2121.04,
          "text": "you"
        },
        {
          "start": 2121.08,
          "end": 2121.24,
          "text": "look"
        },
        {
          "start": 2121.28,
          "end": 2121.44,
          "text": "at"
        },
        {
          "start": 2121.44,
          "end": 2121.48,
          "text": "the"
        },
        {
          "start": 2122.12,
          "end": 2122.8,
          "text": "managers"
        },
        {
          "start": 2123.04,
          "end": 2123.16,
          "text": "who"
        },
        {
          "start": 2123.24,
          "end": 2123.36,
          "text": "have"
        },
        {
          "start": 2123.44,
          "end": 2123.6,
          "text": "done"
        },
        {
          "start": 2123.76,
          "end": 2124.08,
          "text": "really"
        },
        {
          "start": 2124.08,
          "end": 2124.48,
          "text": "well"
        },
        {
          "start": 2124.56,
          "end": 2124.72,
          "text": "in"
        },
        {
          "start": 2124.76,
          "end": 2124.84,
          "text": "this"
        },
        {
          "start": 2124.96,
          "end": 2125.4,
          "text": "space,"
        },
        {
          "start": 2126.04,
          "end": 2126.16,
          "text": "what"
        },
        {
          "start": 2126.2,
          "end": 2126.32,
          "text": "are"
        },
        {
          "start": 2126.32,
          "end": 2126.44,
          "text": "they"
        },
        {
          "start": 2126.48,
          "end": 2126.68,
          "text": "good"
        },
        {
          "start": 2126.68,
          "end": 2127.64,
          "text": "at?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2127.84,
          "end": 2128.0,
          "text": "They"
        },
        {
          "start": 2128.04,
          "end": 2128.2,
          "text": "are"
        },
        {
          "start": 2128.28,
          "end": 2128.56,
          "text": "good"
        },
        {
          "start": 2128.76,
          "end": 2129.16,
          "text": "at"
        },
        {
          "start": 2129.24,
          "end": 2129.32,
          "text": "what"
        },
        {
          "start": 2129.44,
          "end": 2129.48,
          "text": "I"
        },
        {
          "start": 2129.52,
          "end": 2129.76,
          "text": "said,"
        },
        {
          "start": 2129.84,
          "end": 2130.0,
          "text": "kind"
        },
        {
          "start": 2130.04,
          "end": 2130.2,
          "text": "of"
        },
        {
          "start": 2130.84,
          "end": 2131.24,
          "text": "bringing"
        },
        {
          "start": 2131.48,
          "end": 2132.0,
          "text": "alignment"
        },
        {
          "start": 2132.4,
          "end": 2132.48,
          "text": "to"
        },
        {
          "start": 2132.64,
          "end": 2133.04,
          "text": "finding"
        },
        {
          "start": 2133.08,
          "end": 2133.12,
          "text": "that"
        },
        {
          "start": 2133.2,
          "end": 2133.44,
          "text": "align,"
        },
        {
          "start": 2133.56,
          "end": 2133.88,
          "text": "finding"
        },
        {
          "start": 2133.88,
          "end": 2133.92,
          "text": "that"
        },
        {
          "start": 2134.04,
          "end": 2134.48,
          "text": "solvement"
        },
        {
          "start": 2134.52,
          "end": 2134.56,
          "text": "for"
        },
        {
          "start": 2134.6,
          "end": 2134.88,
          "text": "align,"
        },
        {
          "start": 2134.96,
          "end": 2135.0,
          "text": "you"
        },
        {
          "start": 2135.04,
          "end": 2135.12,
          "text": "know,"
        },
        {
          "start": 2135.28,
          "end": 2135.72,
          "text": "solving"
        },
        {
          "start": 2135.76,
          "end": 2135.88,
          "text": "for"
        },
        {
          "start": 2136.56,
          "end": 2136.76,
          "text": "kind"
        },
        {
          "start": 2136.76,
          "end": 2136.84,
          "text": "of"
        },
        {
          "start": 2136.84,
          "end": 2136.88,
          "text": "the"
        },
        {
          "start": 2137.56,
          "end": 2137.96,
          "text": "business"
        },
        {
          "start": 2137.96,
          "end": 2138.32,
          "text": "issues,"
        },
        {
          "start": 2138.4,
          "end": 2138.48,
          "text": "the"
        },
        {
          "start": 2138.6,
          "end": 2138.8,
          "text": "risk"
        },
        {
          "start": 2138.84,
          "end": 2139.28,
          "text": "issues,"
        },
        {
          "start": 2139.32,
          "end": 2139.44,
          "text": "the"
        },
        {
          "start": 2139.48,
          "end": 2139.92,
          "text": "investment"
        },
        {
          "start": 2139.92,
          "end": 2140.2,
          "text": "issues,"
        },
        {
          "start": 2140.24,
          "end": 2140.28,
          "text": "and"
        },
        {
          "start": 2140.32,
          "end": 2140.4,
          "text": "the"
        },
        {
          "start": 2140.4,
          "end": 2140.8,
          "text": "personnel"
        },
        {
          "start": 2140.84,
          "end": 2141.24,
          "text": "issues,"
        },
        {
          "start": 2141.52,
          "end": 2141.64,
          "text": "and"
        },
        {
          "start": 2141.68,
          "end": 2141.92,
          "text": "making"
        },
        {
          "start": 2141.92,
          "end": 2142.12,
          "text": "sure"
        },
        {
          "start": 2142.12,
          "end": 2142.2,
          "text": "that"
        },
        {
          "start": 2142.24,
          "end": 2142.32,
          "text": "they"
        },
        {
          "start": 2142.36,
          "end": 2142.52,
          "text": "all"
        },
        {
          "start": 2142.56,
          "end": 2142.76,
          "text": "work"
        },
        {
          "start": 2142.8,
          "end": 2143.16,
          "text": "together."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2143.72,
          "end": 2143.84,
          "text": "You"
        },
        {
          "start": 2143.88,
          "end": 2143.96,
          "text": "know,"
        },
        {
          "start": 2144.48,
          "end": 2144.64,
          "text": "they're"
        },
        {
          "start": 2144.72,
          "end": 2144.96,
          "text": "really"
        },
        {
          "start": 2144.96,
          "end": 2145.44,
          "text": "successful."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2145.52,
          "end": 2145.72,
          "text": "People"
        },
        {
          "start": 2145.8,
          "end": 2146.0,
          "text": "are"
        },
        {
          "start": 2146.2,
          "end": 2146.32,
          "text": "just"
        },
        {
          "start": 2147.28,
          "end": 2147.36,
          "text": "not"
        },
        {
          "start": 2147.4,
          "end": 2147.48,
          "text": "that"
        },
        {
          "start": 2147.48,
          "end": 2147.6,
          "text": "they"
        },
        {
          "start": 2148.04,
          "end": 2148.16,
          "text": "are"
        },
        {
          "start": 2148.2,
          "end": 2148.28,
          "text": "in"
        },
        {
          "start": 2148.32,
          "end": 2148.4,
          "text": "it"
        },
        {
          "start": 2148.44,
          "end": 2148.52,
          "text": "for"
        },
        {
          "start": 2148.56,
          "end": 2148.64,
          "text": "the"
        },
        {
          "start": 2148.68,
          "end": 2149.0,
          "text": "money,"
        },
        {
          "start": 2149.04,
          "end": 2149.12,
          "text": "but"
        },
        {
          "start": 2149.4,
          "end": 2149.68,
          "text": "now"
        },
        {
          "start": 2150.04,
          "end": 2150.24,
          "text": "they're"
        },
        {
          "start": 2150.24,
          "end": 2150.36,
          "text": "in"
        },
        {
          "start": 2150.4,
          "end": 2150.48,
          "text": "it"
        },
        {
          "start": 2150.56,
          "end": 2150.64,
          "text": "for"
        },
        {
          "start": 2150.68,
          "end": 2150.76,
          "text": "the"
        },
        {
          "start": 2150.8,
          "end": 2151.28,
          "text": "competition"
        },
        {
          "start": 2151.76,
          "end": 2151.84,
          "text": "to"
        },
        {
          "start": 2151.92,
          "end": 2152.36,
          "text": "improve"
        },
        {
          "start": 2152.76,
          "end": 2153.08,
          "text": "because"
        },
        {
          "start": 2153.12,
          "end": 2153.16,
          "text": "like"
        },
        {
          "start": 2153.2,
          "end": 2153.24,
          "text": "I"
        },
        {
          "start": 2153.28,
          "end": 2153.48,
          "text": "said,"
        },
        {
          "start": 2153.48,
          "end": 2153.88,
          "text": "it's"
        },
        {
          "start": 2153.92,
          "end": 2154.04,
          "text": "the"
        },
        {
          "start": 2154.08,
          "end": 2154.32,
          "text": "best"
        },
        {
          "start": 2154.32,
          "end": 2154.56,
          "text": "worst"
        },
        {
          "start": 2154.6,
          "end": 2154.8,
          "text": "job"
        },
        {
          "start": 2154.8,
          "end": 2154.88,
          "text": "in"
        },
        {
          "start": 2154.88,
          "end": 2154.92,
          "text": "the"
        },
        {
          "start": 2154.96,
          "end": 2155.2,
          "text": "world."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2155.24,
          "end": 2155.28,
          "text": "You"
        },
        {
          "start": 2155.32,
          "end": 2155.4,
          "text": "know,"
        },
        {
          "start": 2155.68,
          "end": 2155.72,
          "text": "I"
        },
        {
          "start": 2155.76,
          "end": 2156.04,
          "text": "would"
        },
        {
          "start": 2156.08,
          "end": 2156.16,
          "text": "like."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2156.2,
          "end": 2156.28,
          "text": "To"
        },
        {
          "start": 2156.28,
          "end": 2156.48,
          "text": "try"
        },
        {
          "start": 2156.48,
          "end": 2156.56,
          "text": "it"
        },
        {
          "start": 2156.6,
          "end": 2156.76,
          "text": "out"
        },
        {
          "start": 2156.84,
          "end": 2156.92,
          "text": "at"
        },
        {
          "start": 2157.0,
          "end": 2157.2,
          "text": "least"
        },
        {
          "start": 2157.2,
          "end": 2157.28,
          "text": "for"
        },
        {
          "start": 2157.28,
          "end": 2157.32,
          "text": "a"
        },
        {
          "start": 2157.36,
          "end": 2157.56,
          "text": "little"
        },
        {
          "start": 2157.6,
          "end": 2157.68,
          "text": "bit"
        },
        {
          "start": 2157.76,
          "end": 2157.96,
          "text": "see"
        },
        {
          "start": 2157.96,
          "end": 2158.12,
          "text": "how"
        },
        {
          "start": 2158.16,
          "end": 2158.36,
          "text": "good"
        },
        {
          "start": 2158.4,
          "end": 2158.48,
          "text": "it"
        },
        {
          "start": 2158.56,
          "end": 2158.68,
          "text": "is."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 2159.04,
          "end": 2159.16,
          "text": "I"
        },
        {
          "start": 2159.2,
          "end": 2159.28,
          "text": "have"
        },
        {
          "start": 2159.28,
          "end": 2159.36,
          "text": "a"
        },
        {
          "start": 2159.44,
          "end": 2159.76,
          "text": "question."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2160.04,
          "end": 2160.24,
          "text": "Part"
        },
        {
          "start": 2160.24,
          "end": 2160.28,
          "text": "of"
        },
        {
          "start": 2160.32,
          "end": 2160.36,
          "text": "the"
        },
        {
          "start": 2160.4,
          "end": 2160.76,
          "text": "appeal"
        },
        {
          "start": 2160.84,
          "end": 2160.92,
          "text": "of"
        },
        {
          "start": 2160.92,
          "end": 2161.16,
          "text": "any"
        },
        {
          "start": 2161.2,
          "end": 2161.52,
          "text": "multi"
        },
        {
          "start": 2161.52,
          "end": 2162.0,
          "text": "strategy"
        },
        {
          "start": 2162.04,
          "end": 2162.28,
          "text": "hedge"
        },
        {
          "start": 2162.28,
          "end": 2162.52,
          "text": "fund"
        },
        {
          "start": 2162.68,
          "end": 2162.76,
          "text": "is"
        },
        {
          "start": 2162.8,
          "end": 2162.88,
          "text": "the"
        },
        {
          "start": 2162.92,
          "end": 2163.32,
          "text": "internal"
        },
        {
          "start": 2163.48,
          "end": 2164.32,
          "text": "diversification."
        },
        {
          "start": 2164.76,
          "end": 2165.44,
          "text": "Obviously,"
        },
        {
          "start": 2165.88,
          "end": 2166.12,
          "text": "whether"
        },
        {
          "start": 2166.12,
          "end": 2166.28,
          "text": "we're"
        },
        {
          "start": 2166.28,
          "end": 2166.44,
          "text": "talking"
        },
        {
          "start": 2166.44,
          "end": 2166.68,
          "text": "about"
        },
        {
          "start": 2166.68,
          "end": 2166.72,
          "text": "the"
        },
        {
          "start": 2166.76,
          "end": 2166.92,
          "text": "two"
        },
        {
          "start": 2166.92,
          "end": 2167.0,
          "text": "and"
        },
        {
          "start": 2167.04,
          "end": 2167.36,
          "text": "twenty"
        },
        {
          "start": 2167.44,
          "end": 2167.52,
          "text": "or"
        },
        {
          "start": 2167.52,
          "end": 2167.76,
          "text": "whether"
        },
        {
          "start": 2167.76,
          "end": 2167.92,
          "text": "we're"
        },
        {
          "start": 2167.92,
          "end": 2168.08,
          "text": "talking"
        },
        {
          "start": 2168.08,
          "end": 2168.36,
          "text": "about"
        },
        {
          "start": 2168.36,
          "end": 2168.44,
          "text": "the"
        },
        {
          "start": 2168.48,
          "end": 2168.8,
          "text": "pure"
        },
        {
          "start": 2169.0,
          "end": 2169.24,
          "text": "pod"
        },
        {
          "start": 2169.32,
          "end": 2169.6,
          "text": "model."
        },
        {
          "start": 2170.12,
          "end": 2170.2,
          "text": "You"
        },
        {
          "start": 2170.36,
          "end": 2170.4,
          "text": "have"
        },
        {
          "start": 2170.6,
          "end": 2170.84,
          "text": "these"
        },
        {
          "start": 2170.92,
          "end": 2171.52,
          "text": "periods"
        },
        {
          "start": 2171.72,
          "end": 2172.2,
          "text": "where"
        },
        {
          "start": 2172.64,
          "end": 2172.88,
          "text": "one"
        },
        {
          "start": 2173.04,
          "end": 2173.44,
          "text": "trade"
        },
        {
          "start": 2174.32,
          "end": 2174.48,
          "text": "more"
        },
        {
          "start": 2174.56,
          "end": 2174.6,
          "text": "or"
        },
        {
          "start": 2174.68,
          "end": 2174.88,
          "text": "less"
        },
        {
          "start": 2174.88,
          "end": 2175.12,
          "text": "works"
        },
        {
          "start": 2175.12,
          "end": 2175.32,
          "text": "out"
        },
        {
          "start": 2175.4,
          "end": 2175.52,
          "text": "very"
        },
        {
          "start": 2175.52,
          "end": 2175.72,
          "text": "well"
        },
        {
          "start": 2175.76,
          "end": 2175.84,
          "text": "for"
        },
        {
          "start": 2175.88,
          "end": 2175.92,
          "text": "a"
        },
        {
          "start": 2175.96,
          "end": 2176.2,
          "text": "long"
        },
        {
          "start": 2176.24,
          "end": 2176.52,
          "text": "time."
        },
        {
          "start": 2176.8,
          "end": 2176.92,
          "text": "In"
        },
        {
          "start": 2176.96,
          "end": 2177.04,
          "text": "the"
        },
        {
          "start": 2177.12,
          "end": 2177.44,
          "text": "twenty"
        },
        {
          "start": 2177.52,
          "end": 2177.88,
          "text": "tens,"
        },
        {
          "start": 2177.96,
          "end": 2178.04,
          "text": "it"
        },
        {
          "start": 2178.12,
          "end": 2178.2,
          "text": "was"
        },
        {
          "start": 2178.2,
          "end": 2178.28,
          "text": "the"
        },
        {
          "start": 2178.32,
          "end": 2179.28,
          "text": "disinflationary"
        },
        {
          "start": 2179.36,
          "end": 2179.72,
          "text": "trade,"
        },
        {
          "start": 2180.0,
          "end": 2180.2,
          "text": "which"
        },
        {
          "start": 2180.28,
          "end": 2180.8,
          "text": "represented"
        },
        {
          "start": 2180.84,
          "end": 2180.92,
          "text": "in"
        },
        {
          "start": 2181.04,
          "end": 2181.32,
          "text": "rates,"
        },
        {
          "start": 2181.56,
          "end": 2181.68,
          "text": "and"
        },
        {
          "start": 2181.72,
          "end": 2181.8,
          "text": "it"
        },
        {
          "start": 2181.84,
          "end": 2181.92,
          "text": "was"
        },
        {
          "start": 2181.92,
          "end": 2182.04,
          "text": "the"
        },
        {
          "start": 2182.08,
          "end": 2182.28,
          "text": "tech"
        },
        {
          "start": 2182.36,
          "end": 2182.8,
          "text": "trade"
        },
        {
          "start": 2183.24,
          "end": 2183.32,
          "text": "or"
        },
        {
          "start": 2183.8,
          "end": 2184.2,
          "text": "various"
        },
        {
          "start": 2184.2,
          "end": 2184.72,
          "text": "flavors"
        },
        {
          "start": 2184.76,
          "end": 2184.88,
          "text": "of"
        },
        {
          "start": 2184.92,
          "end": 2185.0,
          "text": "that."
        },
        {
          "start": 2185.72,
          "end": 2185.84,
          "text": "What"
        },
        {
          "start": 2185.88,
          "end": 2185.96,
          "text": "do"
        },
        {
          "start": 2186.0,
          "end": 2186.12,
          "text": "you"
        },
        {
          "start": 2186.16,
          "end": 2186.36,
          "text": "see"
        },
        {
          "start": 2186.4,
          "end": 2186.56,
          "text": "when"
        },
        {
          "start": 2186.56,
          "end": 2186.68,
          "text": "you"
        },
        {
          "start": 2186.72,
          "end": 2186.8,
          "text": "do"
        },
        {
          "start": 2186.96,
          "end": 2187.2,
          "text": "due"
        },
        {
          "start": 2187.2,
          "end": 2187.84,
          "text": "diligence"
        },
        {
          "start": 2188.12,
          "end": 2188.28,
          "text": "on"
        },
        {
          "start": 2188.32,
          "end": 2188.4,
          "text": "a"
        },
        {
          "start": 2188.48,
          "end": 2188.76,
          "text": "fund?"
        },
        {
          "start": 2189.08,
          "end": 2189.2,
          "text": "What"
        },
        {
          "start": 2189.24,
          "end": 2189.32,
          "text": "do"
        },
        {
          "start": 2189.36,
          "end": 2189.44,
          "text": "you"
        },
        {
          "start": 2189.56,
          "end": 2189.8,
          "text": "look"
        },
        {
          "start": 2189.88,
          "end": 2190.16,
          "text": "for?"
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 2190.68,
          "end": 2190.96,
          "text": "Because"
        },
        {
          "start": 2191.08,
          "end": 2191.16,
          "text": "I"
        },
        {
          "start": 2191.2,
          "end": 2191.48,
          "text": "would"
        },
        {
          "start": 2191.52,
          "end": 2191.68,
          "text": "just."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2191.64,
          "end": 2191.84,
          "text": "Think,"
        },
        {
          "start": 2192.0,
          "end": 2192.24,
          "text": "yeah,"
        },
        {
          "start": 2192.36,
          "end": 2192.6,
          "text": "here's"
        },
        {
          "start": 2192.6,
          "end": 2192.68,
          "text": "a"
        },
        {
          "start": 2192.68,
          "end": 2192.88,
          "text": "bunch"
        },
        {
          "start": 2192.92,
          "end": 2192.96,
          "text": "of"
        },
        {
          "start": 2193.04,
          "end": 2193.28,
          "text": "people,"
        },
        {
          "start": 2193.32,
          "end": 2193.36,
          "text": "but"
        },
        {
          "start": 2193.64,
          "end": 2194.4,
          "text": "all"
        },
        {
          "start": 2194.48,
          "end": 2194.56,
          "text": "you"
        },
        {
          "start": 2194.6,
          "end": 2194.72,
          "text": "all"
        },
        {
          "start": 2194.72,
          "end": 2194.92,
          "text": "want"
        },
        {
          "start": 2194.92,
          "end": 2194.96,
          "text": "to"
        },
        {
          "start": 2194.96,
          "end": 2195.08,
          "text": "make"
        },
        {
          "start": 2195.12,
          "end": 2195.32,
          "text": "money,"
        },
        {
          "start": 2195.4,
          "end": 2195.44,
          "text": "so"
        },
        {
          "start": 2195.56,
          "end": 2195.88,
          "text": "y'all"
        },
        {
          "start": 2196.04,
          "end": 2196.24,
          "text": "put"
        },
        {
          "start": 2196.28,
          "end": 2196.36,
          "text": "on"
        },
        {
          "start": 2196.44,
          "end": 2196.64,
          "text": "the"
        },
        {
          "start": 2196.68,
          "end": 2196.96,
          "text": "same"
        },
        {
          "start": 2197.04,
          "end": 2197.36,
          "text": "trade"
        },
        {
          "start": 2197.36,
          "end": 2197.44,
          "text": "in"
        },
        {
          "start": 2197.48,
          "end": 2197.84,
          "text": "different"
        },
        {
          "start": 2197.84,
          "end": 2198.28,
          "text": "clothing,"
        },
        {
          "start": 2198.52,
          "end": 2198.72,
          "text": "right,"
        },
        {
          "start": 2198.76,
          "end": 2198.8,
          "text": "and"
        },
        {
          "start": 2198.84,
          "end": 2199.04,
          "text": "there's"
        },
        {
          "start": 2199.08,
          "end": 2199.4,
          "text": "different"
        },
        {
          "start": 2199.4,
          "end": 2199.72,
          "text": "ways"
        },
        {
          "start": 2199.76,
          "end": 2199.8,
          "text": "to"
        },
        {
          "start": 2199.84,
          "end": 2200.08,
          "text": "play"
        },
        {
          "start": 2200.12,
          "end": 2200.16,
          "text": "the"
        },
        {
          "start": 2200.2,
          "end": 2200.4,
          "text": "same"
        },
        {
          "start": 2200.44,
          "end": 2200.88,
          "text": "trade."
        },
        {
          "start": 2201.08,
          "end": 2201.24,
          "text": "How"
        },
        {
          "start": 2201.28,
          "end": 2201.36,
          "text": "do"
        },
        {
          "start": 2201.4,
          "end": 2201.48,
          "text": "the"
        },
        {
          "start": 2201.52,
          "end": 2201.76,
          "text": "good"
        },
        {
          "start": 2201.76,
          "end": 2202.2,
          "text": "funds"
        },
        {
          "start": 2202.28,
          "end": 2202.72,
          "text": "actually"
        },
        {
          "start": 2202.84,
          "end": 2203.36,
          "text": "establish"
        },
        {
          "start": 2203.4,
          "end": 2204.16,
          "text": "diversification?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2206.32,
          "end": 2206.36,
          "text": "So"
        },
        {
          "start": 2207.52,
          "end": 2207.76,
          "text": "there's"
        },
        {
          "start": 2208.48,
          "end": 2208.76,
          "text": "actually"
        },
        {
          "start": 2208.8,
          "end": 2209.12,
          "text": "April"
        },
        {
          "start": 2209.16,
          "end": 2209.2,
          "text": "is"
        },
        {
          "start": 2209.2,
          "end": 2209.24,
          "text": "a"
        },
        {
          "start": 2209.28,
          "end": 2209.44,
          "text": "really"
        },
        {
          "start": 2209.44,
          "end": 2209.6,
          "text": "good"
        },
        {
          "start": 2209.6,
          "end": 2209.92,
          "text": "example"
        },
        {
          "start": 2210.36,
          "end": 2210.44,
          "text": "of"
        },
        {
          "start": 2210.52,
          "end": 2210.56,
          "text": "the"
        },
        {
          "start": 2210.64,
          "end": 2211.24,
          "text": "versification"
        },
        {
          "start": 2211.32,
          "end": 2211.4,
          "text": "at"
        },
        {
          "start": 2211.48,
          "end": 2211.72,
          "text": "work"
        },
        {
          "start": 2212.12,
          "end": 2212.2,
          "text": "and"
        },
        {
          "start": 2212.28,
          "end": 2212.44,
          "text": "what"
        },
        {
          "start": 2212.48,
          "end": 2212.6,
          "text": "it"
        },
        {
          "start": 2212.64,
          "end": 2213.0,
          "text": "means"
        },
        {
          "start": 2213.08,
          "end": 2213.16,
          "text": "for"
        },
        {
          "start": 2213.28,
          "end": 2213.44,
          "text": "how"
        },
        {
          "start": 2213.52,
          "end": 2213.88,
          "text": "funds"
        },
        {
          "start": 2213.88,
          "end": 2214.12,
          "text": "work."
        },
        {
          "start": 2214.24,
          "end": 2214.36,
          "text": "And"
        },
        {
          "start": 2214.4,
          "end": 2214.56,
          "text": "I'm"
        },
        {
          "start": 2214.56,
          "end": 2214.68,
          "text": "going"
        },
        {
          "start": 2214.72,
          "end": 2214.76,
          "text": "to"
        },
        {
          "start": 2214.88,
          "end": 2215.36,
          "text": "loosely"
        },
        {
          "start": 2215.56,
          "end": 2215.96,
          "text": "describe"
        },
        {
          "start": 2216.0,
          "end": 2216.36,
          "text": "April"
        },
        {
          "start": 2217.04,
          "end": 2217.24,
          "text": "very"
        },
        {
          "start": 2217.24,
          "end": 2217.6,
          "text": "loosely,"
        },
        {
          "start": 2217.88,
          "end": 2218.0,
          "text": "and"
        },
        {
          "start": 2218.12,
          "end": 2218.28,
          "text": "I'm"
        },
        {
          "start": 2218.28,
          "end": 2218.44,
          "text": "sure"
        },
        {
          "start": 2218.52,
          "end": 2218.84,
          "text": "somebody"
        },
        {
          "start": 2218.92,
          "end": 2219.0,
          "text": "in"
        },
        {
          "start": 2219.04,
          "end": 2219.12,
          "text": "your"
        },
        {
          "start": 2219.16,
          "end": 2219.48,
          "text": "audience"
        },
        {
          "start": 2219.48,
          "end": 2219.64,
          "text": "will"
        },
        {
          "start": 2219.68,
          "end": 2219.76,
          "text": "go"
        },
        {
          "start": 2220.04,
          "end": 2220.44,
          "text": "completely"
        },
        {
          "start": 2220.44,
          "end": 2220.72,
          "text": "wrong,"
        },
        {
          "start": 2221.24,
          "end": 2221.32,
          "text": "but"
        },
        {
          "start": 2221.44,
          "end": 2221.8,
          "text": "loosely,"
        },
        {
          "start": 2221.84,
          "end": 2222.2,
          "text": "April"
        },
        {
          "start": 2222.32,
          "end": 2222.36,
          "text": "was"
        },
        {
          "start": 2222.4,
          "end": 2222.64,
          "text": "mostly"
        },
        {
          "start": 2222.68,
          "end": 2222.72,
          "text": "in"
        },
        {
          "start": 2222.76,
          "end": 2223.16,
          "text": "equity"
        },
        {
          "start": 2223.24,
          "end": 2223.56,
          "text": "story,"
        },
        {
          "start": 2224.28,
          "end": 2224.52,
          "text": "right,"
        },
        {
          "start": 2224.92,
          "end": 2225.0,
          "text": "And"
        },
        {
          "start": 2226.16,
          "end": 2226.32,
          "text": "what"
        },
        {
          "start": 2226.44,
          "end": 2226.6,
          "text": "we"
        },
        {
          "start": 2226.72,
          "end": 2226.92,
          "text": "had,"
        },
        {
          "start": 2227.0,
          "end": 2227.08,
          "text": "what"
        },
        {
          "start": 2227.16,
          "end": 2227.28,
          "text": "we"
        },
        {
          "start": 2227.36,
          "end": 2227.6,
          "text": "saw"
        },
        {
          "start": 2227.88,
          "end": 2227.96,
          "text": "was"
        },
        {
          "start": 2228.08,
          "end": 2228.52,
          "text": "equity"
        },
        {
          "start": 2228.72,
          "end": 2229.04,
          "text": "only"
        },
        {
          "start": 2229.08,
          "end": 2229.48,
          "text": "focused"
        },
        {
          "start": 2229.48,
          "end": 2229.88,
          "text": "managers"
        },
        {
          "start": 2229.88,
          "end": 2230.0,
          "text": "had"
        },
        {
          "start": 2230.0,
          "end": 2230.08,
          "text": "a"
        },
        {
          "start": 2230.2,
          "end": 2230.32,
          "text": "much"
        },
        {
          "start": 2230.4,
          "end": 2230.68,
          "text": "tougher"
        },
        {
          "start": 2230.72,
          "end": 2230.88,
          "text": "time"
        },
        {
          "start": 2230.92,
          "end": 2231.0,
          "text": "of"
        },
        {
          "start": 2231.0,
          "end": 2231.08,
          "text": "it"
        },
        {
          "start": 2231.12,
          "end": 2231.24,
          "text": "than"
        },
        {
          "start": 2231.24,
          "end": 2231.28,
          "text": "the"
        },
        {
          "start": 2231.32,
          "end": 2231.88,
          "text": "diversified"
        },
        {
          "start": 2231.88,
          "end": 2232.48,
          "text": "managers."
        },
        {
          "start": 2232.8,
          "end": 2233.16,
          "text": "Okay,"
        },
        {
          "start": 2233.76,
          "end": 2233.84,
          "text": "so"
        },
        {
          "start": 2233.96,
          "end": 2234.24,
          "text": "diverse"
        },
        {
          "start": 2234.28,
          "end": 2234.44,
          "text": "fight"
        },
        {
          "start": 2234.52,
          "end": 2234.56,
          "text": "I"
        },
        {
          "start": 2234.64,
          "end": 2234.72,
          "text": "being"
        },
        {
          "start": 2234.8,
          "end": 2235.04,
          "text": "cross"
        },
        {
          "start": 2235.04,
          "end": 2235.68,
          "text": "commodities"
        },
        {
          "start": 2236.04,
          "end": 2236.56,
          "text": "rates"
        },
        {
          "start": 2236.8,
          "end": 2237.24,
          "text": "converts"
        },
        {
          "start": 2237.28,
          "end": 2237.44,
          "text": "other"
        },
        {
          "start": 2237.48,
          "end": 2237.76,
          "text": "stuff."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2237.8,
          "end": 2237.84,
          "text": "And"
        },
        {
          "start": 2237.88,
          "end": 2238.08,
          "text": "why"
        },
        {
          "start": 2238.12,
          "end": 2238.16,
          "text": "is"
        },
        {
          "start": 2238.16,
          "end": 2238.24,
          "text": "that"
        },
        {
          "start": 2238.28,
          "end": 2238.68,
          "text": "important?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2238.72,
          "end": 2239.0,
          "text": "Because"
        },
        {
          "start": 2239.08,
          "end": 2239.36,
          "text": "last"
        },
        {
          "start": 2239.4,
          "end": 2239.64,
          "text": "year"
        },
        {
          "start": 2239.8,
          "end": 2239.92,
          "text": "one"
        },
        {
          "start": 2239.96,
          "end": 2240.0,
          "text": "of"
        },
        {
          "start": 2240.04,
          "end": 2240.12,
          "text": "the"
        },
        {
          "start": 2240.12,
          "end": 2240.48,
          "text": "biggest"
        },
        {
          "start": 2240.52,
          "end": 2240.84,
          "text": "trades"
        },
        {
          "start": 2240.84,
          "end": 2240.92,
          "text": "that"
        },
        {
          "start": 2241.0,
          "end": 2241.24,
          "text": "worked"
        },
        {
          "start": 2241.24,
          "end": 2241.32,
          "text": "with"
        },
        {
          "start": 2241.36,
          "end": 2241.96,
          "text": "equities,"
        },
        {
          "start": 2242.4,
          "end": 2242.64,
          "text": "right,"
        },
        {
          "start": 2242.72,
          "end": 2242.92,
          "text": "And"
        },
        {
          "start": 2243.12,
          "end": 2243.2,
          "text": "so"
        },
        {
          "start": 2243.88,
          "end": 2244.0,
          "text": "the"
        },
        {
          "start": 2244.04,
          "end": 2244.28,
          "text": "way"
        },
        {
          "start": 2244.36,
          "end": 2244.52,
          "text": "you"
        },
        {
          "start": 2244.64,
          "end": 2245.0,
          "text": "stay"
        },
        {
          "start": 2245.2,
          "end": 2245.36,
          "text": "and"
        },
        {
          "start": 2245.6,
          "end": 2245.76,
          "text": "so"
        },
        {
          "start": 2245.8,
          "end": 2245.88,
          "text": "the"
        },
        {
          "start": 2245.92,
          "end": 2246.16,
          "text": "way"
        },
        {
          "start": 2246.2,
          "end": 2246.4,
          "text": "you"
        },
        {
          "start": 2246.44,
          "end": 2246.76,
          "text": "stay"
        },
        {
          "start": 2246.8,
          "end": 2247.4,
          "text": "diversified"
        },
        {
          "start": 2247.48,
          "end": 2247.52,
          "text": "is"
        },
        {
          "start": 2247.56,
          "end": 2247.72,
          "text": "really"
        },
        {
          "start": 2247.8,
          "end": 2248.28,
          "text": "disciplined,"
        },
        {
          "start": 2248.88,
          "end": 2249.12,
          "text": "right."
        },
        {
          "start": 2249.64,
          "end": 2249.8,
          "text": "And"
        },
        {
          "start": 2250.0,
          "end": 2250.08,
          "text": "you"
        },
        {
          "start": 2250.08,
          "end": 2250.2,
          "text": "know,"
        },
        {
          "start": 2250.24,
          "end": 2250.32,
          "text": "in"
        },
        {
          "start": 2250.36,
          "end": 2250.44,
          "text": "the"
        },
        {
          "start": 2250.44,
          "end": 2250.96,
          "text": "context"
        },
        {
          "start": 2251.0,
          "end": 2251.08,
          "text": "of"
        },
        {
          "start": 2251.16,
          "end": 2251.28,
          "text": "what"
        },
        {
          "start": 2251.36,
          "end": 2251.52,
          "text": "you're"
        },
        {
          "start": 2251.52,
          "end": 2251.8,
          "text": "trying"
        },
        {
          "start": 2251.84,
          "end": 2251.92,
          "text": "to"
        },
        {
          "start": 2252.0,
          "end": 2252.16,
          "text": "do."
        },
        {
          "start": 2253.12,
          "end": 2253.2,
          "text": "One"
        },
        {
          "start": 2253.24,
          "end": 2253.28,
          "text": "of"
        },
        {
          "start": 2253.28,
          "end": 2253.32,
          "text": "the"
        },
        {
          "start": 2253.36,
          "end": 2253.76,
          "text": "interesting"
        },
        {
          "start": 2253.8,
          "end": 2253.96,
          "text": "things"
        },
        {
          "start": 2254.0,
          "end": 2254.2,
          "text": "about"
        },
        {
          "start": 2254.28,
          "end": 2254.56,
          "text": "running"
        },
        {
          "start": 2254.56,
          "end": 2255.04,
          "text": "simulations"
        },
        {
          "start": 2255.04,
          "end": 2255.28,
          "text": "around"
        },
        {
          "start": 2255.32,
          "end": 2255.88,
          "text": "multistrats,"
        },
        {
          "start": 2255.96,
          "end": 2256.12,
          "text": "right"
        },
        {
          "start": 2256.56,
          "end": 2256.64,
          "text": "is"
        },
        {
          "start": 2256.68,
          "end": 2256.76,
          "text": "you"
        },
        {
          "start": 2256.92,
          "end": 2257.4,
          "text": "actually"
        },
        {
          "start": 2257.44,
          "end": 2257.68,
          "text": "don't"
        },
        {
          "start": 2257.72,
          "end": 2257.88,
          "text": "need"
        },
        {
          "start": 2257.92,
          "end": 2258.0,
          "text": "to"
        },
        {
          "start": 2258.04,
          "end": 2258.16,
          "text": "have"
        },
        {
          "start": 2258.2,
          "end": 2258.4,
          "text": "such"
        },
        {
          "start": 2258.4,
          "end": 2258.64,
          "text": "great"
        },
        {
          "start": 2258.64,
          "end": 2258.96,
          "text": "pms"
        },
        {
          "start": 2259.04,
          "end": 2259.08,
          "text": "or"
        },
        {
          "start": 2259.08,
          "end": 2259.28,
          "text": "great"
        },
        {
          "start": 2259.32,
          "end": 2259.6,
          "text": "trades"
        },
        {
          "start": 2259.64,
          "end": 2259.68,
          "text": "to"
        },
        {
          "start": 2259.76,
          "end": 2259.84,
          "text": "have"
        },
        {
          "start": 2259.88,
          "end": 2259.92,
          "text": "a"
        },
        {
          "start": 2259.96,
          "end": 2260.12,
          "text": "really"
        },
        {
          "start": 2260.12,
          "end": 2260.28,
          "text": "good"
        },
        {
          "start": 2260.32,
          "end": 2260.56,
          "text": "multi"
        },
        {
          "start": 2260.56,
          "end": 2260.84,
          "text": "strat"
        },
        {
          "start": 2261.2,
          "end": 2261.36,
          "text": "if"
        },
        {
          "start": 2261.36,
          "end": 2261.44,
          "text": "you"
        },
        {
          "start": 2261.52,
          "end": 2261.72,
          "text": "risk"
        },
        {
          "start": 2261.76,
          "end": 2262.04,
          "text": "manage"
        },
        {
          "start": 2262.04,
          "end": 2262.12,
          "text": "it"
        },
        {
          "start": 2262.2,
          "end": 2262.4,
          "text": "right."
        },
        {
          "start": 2263.2,
          "end": 2263.56,
          "text": "Okay,"
        },
        {
          "start": 2264.0,
          "end": 2264.12,
          "text": "if"
        },
        {
          "start": 2264.16,
          "end": 2264.24,
          "text": "you"
        },
        {
          "start": 2264.32,
          "end": 2264.64,
          "text": "actually"
        },
        {
          "start": 2264.64,
          "end": 2264.72,
          "text": "have"
        },
        {
          "start": 2264.76,
          "end": 2264.8,
          "text": "a"
        },
        {
          "start": 2264.84,
          "end": 2265.0,
          "text": "set"
        },
        {
          "start": 2265.04,
          "end": 2265.12,
          "text": "of"
        },
        {
          "start": 2265.12,
          "end": 2265.32,
          "text": "people"
        },
        {
          "start": 2265.36,
          "end": 2265.48,
          "text": "who"
        },
        {
          "start": 2265.56,
          "end": 2265.72,
          "text": "are"
        },
        {
          "start": 2265.88,
          "end": 2266.08,
          "text": "very"
        },
        {
          "start": 2266.12,
          "end": 2266.4,
          "text": "lowly"
        },
        {
          "start": 2266.88,
          "end": 2267.28,
          "text": "correlated"
        },
        {
          "start": 2267.32,
          "end": 2267.4,
          "text": "with"
        },
        {
          "start": 2267.44,
          "end": 2267.6,
          "text": "each"
        },
        {
          "start": 2267.6,
          "end": 2267.8,
          "text": "other"
        },
        {
          "start": 2267.84,
          "end": 2267.92,
          "text": "and"
        },
        {
          "start": 2267.96,
          "end": 2268.04,
          "text": "you"
        },
        {
          "start": 2268.08,
          "end": 2268.24,
          "text": "put"
        },
        {
          "start": 2268.24,
          "end": 2268.4,
          "text": "them"
        },
        {
          "start": 2268.4,
          "end": 2268.72,
          "text": "together,"
        },
        {
          "start": 2269.04,
          "end": 2269.12,
          "text": "you"
        },
        {
          "start": 2269.2,
          "end": 2269.36,
          "text": "lever"
        },
        {
          "start": 2269.48,
          "end": 2269.64,
          "text": "them"
        },
        {
          "start": 2269.68,
          "end": 2269.84,
          "text": "up,"
        },
        {
          "start": 2270.04,
          "end": 2270.12,
          "text": "you"
        },
        {
          "start": 2270.16,
          "end": 2270.32,
          "text": "can"
        },
        {
          "start": 2270.48,
          "end": 2270.56,
          "text": "have"
        },
        {
          "start": 2270.6,
          "end": 2270.68,
          "text": "a"
        },
        {
          "start": 2270.84,
          "end": 2271.0,
          "text": "very"
        },
        {
          "start": 2271.04,
          "end": 2271.24,
          "text": "good"
        },
        {
          "start": 2271.24,
          "end": 2271.72,
          "text": "business."
        },
        {
          "start": 2271.88,
          "end": 2272.0,
          "text": "So"
        },
        {
          "start": 2272.12,
          "end": 2272.2,
          "text": "to"
        },
        {
          "start": 2272.24,
          "end": 2272.36,
          "text": "your"
        },
        {
          "start": 2272.4,
          "end": 2272.72,
          "text": "question"
        },
        {
          "start": 2272.92,
          "end": 2273.0,
          "text": "is,"
        },
        {
          "start": 2273.04,
          "end": 2273.12,
          "text": "like,"
        },
        {
          "start": 2273.24,
          "end": 2273.32,
          "text": "the"
        },
        {
          "start": 2273.4,
          "end": 2273.8,
          "text": "answer"
        },
        {
          "start": 2273.92,
          "end": 2274.0,
          "text": "is,"
        },
        {
          "start": 2274.08,
          "end": 2274.16,
          "text": "you"
        },
        {
          "start": 2274.24,
          "end": 2274.44,
          "text": "got"
        },
        {
          "start": 2274.44,
          "end": 2274.48,
          "text": "to"
        },
        {
          "start": 2274.52,
          "end": 2274.56,
          "text": "be"
        },
        {
          "start": 2274.6,
          "end": 2275.12,
          "text": "disciplined,"
        },
        {
          "start": 2275.8,
          "end": 2275.88,
          "text": "You"
        },
        {
          "start": 2275.96,
          "end": 2276.2,
          "text": "got"
        },
        {
          "start": 2276.2,
          "end": 2276.28,
          "text": "to"
        },
        {
          "start": 2276.32,
          "end": 2276.44,
          "text": "have"
        },
        {
          "start": 2277.12,
          "end": 2277.24,
          "text": "like"
        },
        {
          "start": 2277.4,
          "end": 2277.52,
          "text": "you"
        },
        {
          "start": 2277.6,
          "end": 2277.8,
          "text": "put"
        },
        {
          "start": 2277.84,
          "end": 2277.88,
          "text": "the"
        },
        {
          "start": 2277.96,
          "end": 2278.08,
          "text": "right"
        },
        {
          "start": 2278.12,
          "end": 2278.4,
          "text": "amount"
        },
        {
          "start": 2278.4,
          "end": 2278.48,
          "text": "of"
        },
        {
          "start": 2278.52,
          "end": 2278.68,
          "text": "risk"
        },
        {
          "start": 2278.72,
          "end": 2278.88,
          "text": "into"
        },
        {
          "start": 2278.92,
          "end": 2279.16,
          "text": "your"
        },
        {
          "start": 2279.28,
          "end": 2279.56,
          "text": "twenty"
        },
        {
          "start": 2279.56,
          "end": 2279.72,
          "text": "ten"
        },
        {
          "start": 2279.72,
          "end": 2279.96,
          "text": "different"
        },
        {
          "start": 2280.08,
          "end": 2280.6,
          "text": "inflationary"
        },
        {
          "start": 2280.64,
          "end": 2280.92,
          "text": "trade,"
        },
        {
          "start": 2281.04,
          "end": 2281.2,
          "text": "put"
        },
        {
          "start": 2281.2,
          "end": 2281.24,
          "text": "the"
        },
        {
          "start": 2281.32,
          "end": 2281.44,
          "text": "right"
        },
        {
          "start": 2281.44,
          "end": 2281.76,
          "text": "amount"
        },
        {
          "start": 2281.76,
          "end": 2281.8,
          "text": "of"
        },
        {
          "start": 2281.88,
          "end": 2282.04,
          "text": "risk"
        },
        {
          "start": 2282.08,
          "end": 2282.32,
          "text": "into"
        },
        {
          "start": 2282.6,
          "end": 2283.04,
          "text": "fundamental"
        },
        {
          "start": 2283.16,
          "end": 2283.6,
          "text": "fundamental"
        },
        {
          "start": 2283.64,
          "end": 2283.96,
          "text": "equity"
        },
        {
          "start": 2283.96,
          "end": 2284.24,
          "text": "market"
        },
        {
          "start": 2284.24,
          "end": 2284.52,
          "text": "neutral"
        },
        {
          "start": 2284.6,
          "end": 2284.76,
          "text": "last"
        },
        {
          "start": 2284.84,
          "end": 2285.04,
          "text": "year."
        },
        {
          "start": 2285.64,
          "end": 2285.76,
          "text": "But"
        },
        {
          "start": 2285.84,
          "end": 2285.92,
          "text": "you"
        },
        {
          "start": 2285.96,
          "end": 2286.12,
          "text": "make"
        },
        {
          "start": 2286.16,
          "end": 2286.4,
          "text": "sure"
        },
        {
          "start": 2286.4,
          "end": 2286.48,
          "text": "that"
        },
        {
          "start": 2286.52,
          "end": 2286.68,
          "text": "you're"
        },
        {
          "start": 2286.72,
          "end": 2286.8,
          "text": "not"
        },
        {
          "start": 2286.88,
          "end": 2287.08,
          "text": "over"
        },
        {
          "start": 2287.16,
          "end": 2287.24,
          "text": "the"
        },
        {
          "start": 2287.24,
          "end": 2287.52,
          "text": "limit,"
        },
        {
          "start": 2287.8,
          "end": 2288.08,
          "text": "right,"
        },
        {
          "start": 2288.24,
          "end": 2288.44,
          "text": "and"
        },
        {
          "start": 2288.52,
          "end": 2288.6,
          "text": "you"
        },
        {
          "start": 2288.68,
          "end": 2288.92,
          "text": "stay"
        },
        {
          "start": 2289.0,
          "end": 2289.44,
          "text": "disciplined"
        },
        {
          "start": 2289.48,
          "end": 2289.64,
          "text": "so."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 2289.6,
          "end": 2289.64,
          "text": "That"
        },
        {
          "start": 2289.84,
          "end": 2290.0,
          "text": "our"
        },
        {
          "start": 2290.04,
          "end": 2290.44,
          "text": "equity"
        },
        {
          "start": 2290.56,
          "end": 2290.88,
          "text": "market"
        },
        {
          "start": 2290.96,
          "end": 2291.36,
          "text": "neutral."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2291.48,
          "end": 2291.56,
          "text": "I"
        },
        {
          "start": 2291.56,
          "end": 2291.84,
          "text": "would"
        },
        {
          "start": 2291.84,
          "end": 2292.08,
          "text": "still"
        },
        {
          "start": 2292.12,
          "end": 2292.4,
          "text": "find"
        },
        {
          "start": 2292.4,
          "end": 2292.48,
          "text": "a"
        },
        {
          "start": 2292.48,
          "end": 2292.68,
          "text": "way"
        },
        {
          "start": 2292.72,
          "end": 2292.8,
          "text": "to"
        },
        {
          "start": 2292.84,
          "end": 2292.96,
          "text": "make"
        },
        {
          "start": 2293.0,
          "end": 2293.08,
          "text": "it"
        },
        {
          "start": 2293.16,
          "end": 2293.36,
          "text": "long"
        },
        {
          "start": 2293.44,
          "end": 2293.64,
          "text": "tech"
        },
        {
          "start": 2293.68,
          "end": 2293.76,
          "text": "and"
        },
        {
          "start": 2293.8,
          "end": 2294.28,
          "text": "disguise"
        },
        {
          "start": 2294.32,
          "end": 2295.28,
          "text": "there."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2294.84,
          "end": 2294.96,
          "text": "Well,"
        },
        {
          "start": 2295.0,
          "end": 2295.24,
          "text": "people"
        },
        {
          "start": 2295.28,
          "end": 2295.56,
          "text": "totally"
        },
        {
          "start": 2295.6,
          "end": 2295.68,
          "text": "do."
        },
        {
          "start": 2295.8,
          "end": 2296.0,
          "text": "Yeah."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2296.0,
          "end": 2296.08,
          "text": "I"
        },
        {
          "start": 2296.12,
          "end": 2296.28,
          "text": "mean,"
        },
        {
          "start": 2296.28,
          "end": 2296.52,
          "text": "look,"
        },
        {
          "start": 2296.56,
          "end": 2296.64,
          "text": "we"
        },
        {
          "start": 2296.68,
          "end": 2296.92,
          "text": "haven't"
        },
        {
          "start": 2296.92,
          "end": 2297.12,
          "text": "even"
        },
        {
          "start": 2297.12,
          "end": 2297.32,
          "text": "got"
        },
        {
          "start": 2297.32,
          "end": 2297.56,
          "text": "into"
        },
        {
          "start": 2297.56,
          "end": 2297.92,
          "text": "factor"
        },
        {
          "start": 2298.44,
          "end": 2298.76,
          "text": "factor"
        },
        {
          "start": 2298.76,
          "end": 2299.12,
          "text": "controls"
        },
        {
          "start": 2299.12,
          "end": 2299.16,
          "text": "and"
        },
        {
          "start": 2299.2,
          "end": 2299.48,
          "text": "stuff"
        },
        {
          "start": 2299.52,
          "end": 2299.56,
          "text": "like"
        },
        {
          "start": 2299.56,
          "end": 2299.72,
          "text": "that,"
        },
        {
          "start": 2299.76,
          "end": 2299.8,
          "text": "and"
        },
        {
          "start": 2300.04,
          "end": 2300.16,
          "text": "so"
        },
        {
          "start": 2300.2,
          "end": 2300.28,
          "text": "on"
        },
        {
          "start": 2300.32,
          "end": 2300.36,
          "text": "and"
        },
        {
          "start": 2300.44,
          "end": 2300.52,
          "text": "so"
        },
        {
          "start": 2300.6,
          "end": 2300.84,
          "text": "forth."
        },
        {
          "start": 2301.6,
          "end": 2301.84,
          "text": "Look,"
        },
        {
          "start": 2301.92,
          "end": 2302.0,
          "text": "the"
        },
        {
          "start": 2302.04,
          "end": 2302.36,
          "text": "fact"
        },
        {
          "start": 2302.44,
          "end": 2302.52,
          "text": "is"
        },
        {
          "start": 2303.28,
          "end": 2303.48,
          "text": "that"
        },
        {
          "start": 2304.24,
          "end": 2304.32,
          "text": "and"
        },
        {
          "start": 2304.52,
          "end": 2304.72,
          "text": "there's"
        },
        {
          "start": 2304.8,
          "end": 2305.16,
          "text": "multiple"
        },
        {
          "start": 2305.2,
          "end": 2305.56,
          "text": "answers"
        },
        {
          "start": 2305.56,
          "end": 2305.6,
          "text": "to"
        },
        {
          "start": 2305.64,
          "end": 2305.72,
          "text": "that"
        },
        {
          "start": 2305.8,
          "end": 2306.04,
          "text": "question"
        },
        {
          "start": 2306.08,
          "end": 2306.4,
          "text": "across"
        },
        {
          "start": 2306.4,
          "end": 2306.56,
          "text": "how"
        },
        {
          "start": 2306.64,
          "end": 2306.88,
          "text": "multi"
        },
        {
          "start": 2306.88,
          "end": 2307.16,
          "text": "strates"
        },
        {
          "start": 2307.2,
          "end": 2307.28,
          "text": "have"
        },
        {
          "start": 2307.32,
          "end": 2307.84,
          "text": "implemented"
        },
        {
          "start": 2307.84,
          "end": 2307.92,
          "text": "this"
        },
        {
          "start": 2308.0,
          "end": 2308.04,
          "text": "in"
        },
        {
          "start": 2308.12,
          "end": 2308.32,
          "text": "terms"
        },
        {
          "start": 2308.36,
          "end": 2308.4,
          "text": "of"
        },
        {
          "start": 2308.44,
          "end": 2308.48,
          "text": "what"
        },
        {
          "start": 2308.48,
          "end": 2308.68,
          "text": "they're"
        },
        {
          "start": 2308.68,
          "end": 2308.92,
          "text": "willing"
        },
        {
          "start": 2308.96,
          "end": 2309.0,
          "text": "to"
        },
        {
          "start": 2309.04,
          "end": 2309.16,
          "text": "take"
        },
        {
          "start": 2309.2,
          "end": 2309.24,
          "text": "in"
        },
        {
          "start": 2309.32,
          "end": 2309.48,
          "text": "terms"
        },
        {
          "start": 2309.52,
          "end": 2309.56,
          "text": "of"
        },
        {
          "start": 2309.6,
          "end": 2309.88,
          "text": "factor"
        },
        {
          "start": 2309.96,
          "end": 2310.12,
          "text": "risk"
        },
        {
          "start": 2310.2,
          "end": 2310.28,
          "text": "or"
        },
        {
          "start": 2310.28,
          "end": 2310.56,
          "text": "sector"
        },
        {
          "start": 2310.64,
          "end": 2310.8,
          "text": "risk"
        },
        {
          "start": 2310.84,
          "end": 2310.88,
          "text": "and"
        },
        {
          "start": 2310.88,
          "end": 2311.2,
          "text": "stuff"
        },
        {
          "start": 2311.2,
          "end": 2311.28,
          "text": "like"
        },
        {
          "start": 2311.28,
          "end": 2311.44,
          "text": "that"
        },
        {
          "start": 2312.16,
          "end": 2312.36,
          "text": "and"
        },
        {
          "start": 2312.4,
          "end": 2312.56,
          "text": "when."
        },
        {
          "start": 2312.64,
          "end": 2312.68,
          "text": "But"
        },
        {
          "start": 2312.72,
          "end": 2312.88,
          "text": "when"
        },
        {
          "start": 2312.92,
          "end": 2312.96,
          "text": "you"
        },
        {
          "start": 2313.0,
          "end": 2313.12,
          "text": "get"
        },
        {
          "start": 2313.2,
          "end": 2313.36,
          "text": "down"
        },
        {
          "start": 2313.4,
          "end": 2313.48,
          "text": "to"
        },
        {
          "start": 2313.52,
          "end": 2313.68,
          "text": "it,"
        },
        {
          "start": 2313.72,
          "end": 2314.04,
          "text": "look,"
        },
        {
          "start": 2314.64,
          "end": 2314.72,
          "text": "the"
        },
        {
          "start": 2314.88,
          "end": 2315.16,
          "text": "job"
        },
        {
          "start": 2315.88,
          "end": 2316.0,
          "text": "of"
        },
        {
          "start": 2316.12,
          "end": 2316.32,
          "text": "an"
        },
        {
          "start": 2316.32,
          "end": 2316.84,
          "text": "investor,"
        },
        {
          "start": 2317.12,
          "end": 2317.36,
          "text": "any"
        },
        {
          "start": 2317.44,
          "end": 2317.92,
          "text": "investor"
        },
        {
          "start": 2318.2,
          "end": 2318.28,
          "text": "is"
        },
        {
          "start": 2318.32,
          "end": 2318.4,
          "text": "to"
        },
        {
          "start": 2318.48,
          "end": 2318.72,
          "text": "take"
        },
        {
          "start": 2318.8,
          "end": 2319.04,
          "text": "risk"
        },
        {
          "start": 2319.36,
          "end": 2319.44,
          "text": "in"
        },
        {
          "start": 2319.48,
          "end": 2319.56,
          "text": "the"
        },
        {
          "start": 2319.56,
          "end": 2319.72,
          "text": "way"
        },
        {
          "start": 2319.72,
          "end": 2319.92,
          "text": "they're"
        },
        {
          "start": 2319.92,
          "end": 2320.32,
          "text": "supposed"
        },
        {
          "start": 2320.36,
          "end": 2320.44,
          "text": "to."
        },
        {
          "start": 2320.92,
          "end": 2321.12,
          "text": "And"
        },
        {
          "start": 2321.32,
          "end": 2321.56,
          "text": "multi"
        },
        {
          "start": 2321.56,
          "end": 2322.0,
          "text": "strategy"
        },
        {
          "start": 2322.0,
          "end": 2322.36,
          "text": "funds"
        },
        {
          "start": 2322.92,
          "end": 2323.08,
          "text": "they"
        },
        {
          "start": 2323.12,
          "end": 2323.32,
          "text": "take"
        },
        {
          "start": 2323.4,
          "end": 2323.64,
          "text": "risk."
        },
        {
          "start": 2324.04,
          "end": 2324.12,
          "text": "You"
        },
        {
          "start": 2324.12,
          "end": 2324.16,
          "text": "know,"
        },
        {
          "start": 2324.2,
          "end": 2324.44,
          "text": "there's"
        },
        {
          "start": 2324.44,
          "end": 2324.48,
          "text": "no"
        },
        {
          "start": 2324.52,
          "end": 2324.76,
          "text": "getting"
        },
        {
          "start": 2324.8,
          "end": 2325.08,
          "text": "around"
        },
        {
          "start": 2325.08,
          "end": 2325.16,
          "text": "that."
        },
        {
          "start": 2325.72,
          "end": 2325.96,
          "text": "Key"
        },
        {
          "start": 2326.12,
          "end": 2326.36,
          "text": "is"
        },
        {
          "start": 2326.36,
          "end": 2326.48,
          "text": "is"
        },
        {
          "start": 2326.52,
          "end": 2326.68,
          "text": "how"
        },
        {
          "start": 2326.72,
          "end": 2326.84,
          "text": "you"
        },
        {
          "start": 2326.88,
          "end": 2327.04,
          "text": "take"
        },
        {
          "start": 2327.08,
          "end": 2327.16,
          "text": "it,"
        },
        {
          "start": 2327.2,
          "end": 2327.32,
          "text": "how"
        },
        {
          "start": 2327.36,
          "end": 2327.76,
          "text": "disciplined"
        },
        {
          "start": 2327.8,
          "end": 2327.84,
          "text": "you"
        },
        {
          "start": 2327.88,
          "end": 2328.08,
          "text": "stay"
        },
        {
          "start": 2328.12,
          "end": 2328.2,
          "text": "with"
        },
        {
          "start": 2328.28,
          "end": 2328.4,
          "text": "it,"
        },
        {
          "start": 2328.72,
          "end": 2328.8,
          "text": "the"
        },
        {
          "start": 2328.88,
          "end": 2329.2,
          "text": "quality"
        },
        {
          "start": 2329.24,
          "end": 2329.28,
          "text": "of"
        },
        {
          "start": 2329.28,
          "end": 2329.32,
          "text": "the"
        },
        {
          "start": 2329.36,
          "end": 2329.6,
          "text": "people,"
        },
        {
          "start": 2329.64,
          "end": 2329.68,
          "text": "the"
        },
        {
          "start": 2329.76,
          "end": 2330.08,
          "text": "quality"
        },
        {
          "start": 2330.08,
          "end": 2330.12,
          "text": "of"
        },
        {
          "start": 2330.12,
          "end": 2330.16,
          "text": "the"
        },
        {
          "start": 2330.16,
          "end": 2330.56,
          "text": "structure"
        },
        {
          "start": 2330.6,
          "end": 2330.88,
          "text": "around"
        },
        {
          "start": 2330.92,
          "end": 2331.0,
          "text": "that,"
        },
        {
          "start": 2331.6,
          "end": 2331.84,
          "text": "and"
        },
        {
          "start": 2332.24,
          "end": 2332.32,
          "text": "just"
        },
        {
          "start": 2332.76,
          "end": 2332.84,
          "text": "you"
        },
        {
          "start": 2332.88,
          "end": 2332.96,
          "text": "know,"
        },
        {
          "start": 2333.2,
          "end": 2333.88,
          "text": "sometimes"
        },
        {
          "start": 2333.88,
          "end": 2334.0,
          "text": "some"
        },
        {
          "start": 2334.08,
          "end": 2334.24,
          "text": "look"
        },
        {
          "start": 2334.28,
          "end": 2334.4,
          "text": "as"
        },
        {
          "start": 2334.44,
          "end": 2334.64,
          "text": "well."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2335.4,
          "end": 2335.48,
          "text": "Just"
        },
        {
          "start": 2335.56,
          "end": 2335.64,
          "text": "on"
        },
        {
          "start": 2335.68,
          "end": 2335.72,
          "text": "the"
        },
        {
          "start": 2335.8,
          "end": 2336.0,
          "text": "risk"
        },
        {
          "start": 2336.08,
          "end": 2336.56,
          "text": "management"
        },
        {
          "start": 2336.68,
          "end": 2337.0,
          "text": "side,"
        },
        {
          "start": 2337.16,
          "end": 2337.2,
          "text": "it"
        },
        {
          "start": 2337.32,
          "end": 2337.68,
          "text": "sounds"
        },
        {
          "start": 2337.68,
          "end": 2337.76,
          "text": "like"
        },
        {
          "start": 2337.84,
          "end": 2337.92,
          "text": "a"
        },
        {
          "start": 2337.96,
          "end": 2338.16,
          "text": "lot"
        },
        {
          "start": 2338.24,
          "end": 2338.68,
          "text": "depends"
        },
        {
          "start": 2338.72,
          "end": 2338.84,
          "text": "on"
        },
        {
          "start": 2339.08,
          "end": 2339.64,
          "text": "historical"
        },
        {
          "start": 2339.8,
          "end": 2340.0,
          "text": "core"
        },
        {
          "start": 2340.0,
          "end": 2340.64,
          "text": "correlations"
        },
        {
          "start": 2340.68,
          "end": 2340.88,
          "text": "when"
        },
        {
          "start": 2340.88,
          "end": 2340.96,
          "text": "it"
        },
        {
          "start": 2340.96,
          "end": 2341.2,
          "text": "comes"
        },
        {
          "start": 2341.2,
          "end": 2341.28,
          "text": "to"
        },
        {
          "start": 2341.36,
          "end": 2342.16,
          "text": "diversification,"
        },
        {
          "start": 2342.76,
          "end": 2342.92,
          "text": "and"
        },
        {
          "start": 2342.96,
          "end": 2343.12,
          "text": "what"
        },
        {
          "start": 2343.16,
          "end": 2343.4,
          "text": "we've"
        },
        {
          "start": 2343.44,
          "end": 2343.72,
          "text": "seen"
        },
        {
          "start": 2344.08,
          "end": 2344.2,
          "text": "in"
        },
        {
          "start": 2344.36,
          "end": 2344.72,
          "text": "recent"
        },
        {
          "start": 2344.84,
          "end": 2345.2,
          "text": "years"
        },
        {
          "start": 2345.28,
          "end": 2345.6,
          "text": "and"
        },
        {
          "start": 2345.68,
          "end": 2345.84,
          "text": "in"
        },
        {
          "start": 2345.88,
          "end": 2346.32,
          "text": "April"
        },
        {
          "start": 2346.48,
          "end": 2346.56,
          "text": "is"
        },
        {
          "start": 2346.56,
          "end": 2346.68,
          "text": "some"
        },
        {
          "start": 2346.72,
          "end": 2346.8,
          "text": "of"
        },
        {
          "start": 2346.8,
          "end": 2347.0,
          "text": "those"
        },
        {
          "start": 2347.16,
          "end": 2347.52,
          "text": "historic"
        },
        {
          "start": 2347.56,
          "end": 2348.16,
          "text": "correlations"
        },
        {
          "start": 2348.2,
          "end": 2348.56,
          "text": "breaking"
        },
        {
          "start": 2348.6,
          "end": 2348.8,
          "text": "down,"
        },
        {
          "start": 2348.88,
          "end": 2348.96,
          "text": "So"
        },
        {
          "start": 2349.08,
          "end": 2349.2,
          "text": "for"
        },
        {
          "start": 2349.24,
          "end": 2349.68,
          "text": "instance,"
        },
        {
          "start": 2349.8,
          "end": 2350.24,
          "text": "bonds"
        },
        {
          "start": 2350.44,
          "end": 2350.52,
          "text": "not"
        },
        {
          "start": 2350.68,
          "end": 2350.96,
          "text": "being"
        },
        {
          "start": 2351.36,
          "end": 2351.44,
          "text": "a"
        },
        {
          "start": 2351.48,
          "end": 2351.68,
          "text": "good"
        },
        {
          "start": 2351.72,
          "end": 2352.08,
          "text": "hedge"
        },
        {
          "start": 2352.12,
          "end": 2352.2,
          "text": "for"
        },
        {
          "start": 2352.28,
          "end": 2352.92,
          "text": "equities,"
        },
        {
          "start": 2353.24,
          "end": 2353.4,
          "text": "or"
        },
        {
          "start": 2353.56,
          "end": 2353.76,
          "text": "more"
        },
        {
          "start": 2353.84,
          "end": 2354.4,
          "text": "recently"
        },
        {
          "start": 2354.6,
          "end": 2354.68,
          "text": "the"
        },
        {
          "start": 2354.76,
          "end": 2355.16,
          "text": "dollars"
        },
        {
          "start": 2355.16,
          "end": 2355.48,
          "text": "selling"
        },
        {
          "start": 2355.48,
          "end": 2355.68,
          "text": "off"
        },
        {
          "start": 2355.72,
          "end": 2355.84,
          "text": "at"
        },
        {
          "start": 2355.84,
          "end": 2355.92,
          "text": "the"
        },
        {
          "start": 2355.92,
          "end": 2356.12,
          "text": "same"
        },
        {
          "start": 2356.16,
          "end": 2356.36,
          "text": "time"
        },
        {
          "start": 2356.4,
          "end": 2356.48,
          "text": "that"
        },
        {
          "start": 2356.52,
          "end": 2356.8,
          "text": "bonds"
        },
        {
          "start": 2356.8,
          "end": 2357.0,
          "text": "were"
        },
        {
          "start": 2357.04,
          "end": 2357.32,
          "text": "selling"
        },
        {
          "start": 2357.36,
          "end": 2357.6,
          "text": "off."
        },
        {
          "start": 2358.28,
          "end": 2358.44,
          "text": "How"
        },
        {
          "start": 2358.44,
          "end": 2358.56,
          "text": "are"
        },
        {
          "start": 2358.6,
          "end": 2358.92,
          "text": "people"
        },
        {
          "start": 2358.96,
          "end": 2359.4,
          "text": "managing"
        },
        {
          "start": 2359.52,
          "end": 2359.6,
          "text": "or"
        },
        {
          "start": 2359.68,
          "end": 2360.24,
          "text": "judging"
        },
        {
          "start": 2360.4,
          "end": 2360.56,
          "text": "that"
        },
        {
          "start": 2360.76,
          "end": 2361.32,
          "text": "correlation"
        },
        {
          "start": 2361.52,
          "end": 2361.72,
          "text": "risk"
        },
        {
          "start": 2361.76,
          "end": 2362.04,
          "text": "because"
        },
        {
          "start": 2362.08,
          "end": 2362.24,
          "text": "that"
        },
        {
          "start": 2362.32,
          "end": 2362.64,
          "text": "seems"
        },
        {
          "start": 2362.68,
          "end": 2362.76,
          "text": "to"
        },
        {
          "start": 2362.8,
          "end": 2362.88,
          "text": "be"
        },
        {
          "start": 2363.2,
          "end": 2363.28,
          "text": "a"
        },
        {
          "start": 2363.32,
          "end": 2363.8,
          "text": "potential"
        },
        {
          "start": 2363.8,
          "end": 2364.12,
          "text": "area"
        },
        {
          "start": 2364.16,
          "end": 2364.2,
          "text": "of"
        },
        {
          "start": 2364.24,
          "end": 2364.68,
          "text": "weakness"
        },
        {
          "start": 2364.68,
          "end": 2364.76,
          "text": "for"
        },
        {
          "start": 2364.88,
          "end": 2365.12,
          "text": "multi"
        },
        {
          "start": 2365.16,
          "end": 2365.6,
          "text": "strats."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2365.88,
          "end": 2366.08,
          "text": "It's"
        },
        {
          "start": 2366.12,
          "end": 2366.2,
          "text": "a"
        },
        {
          "start": 2366.24,
          "end": 2366.64,
          "text": "weakness"
        },
        {
          "start": 2366.68,
          "end": 2366.76,
          "text": "for"
        },
        {
          "start": 2366.8,
          "end": 2367.24,
          "text": "everybody,"
        },
        {
          "start": 2367.28,
          "end": 2367.68,
          "text": "potential"
        },
        {
          "start": 2367.72,
          "end": 2367.92,
          "text": "area"
        },
        {
          "start": 2367.96,
          "end": 2368.24,
          "text": "weakness"
        },
        {
          "start": 2368.28,
          "end": 2368.36,
          "text": "for"
        },
        {
          "start": 2368.36,
          "end": 2368.8,
          "text": "everybody."
        },
        {
          "start": 2368.84,
          "end": 2368.88,
          "text": "I"
        },
        {
          "start": 2368.92,
          "end": 2369.2,
          "text": "think,"
        },
        {
          "start": 2369.92,
          "end": 2370.16,
          "text": "look,"
        },
        {
          "start": 2370.36,
          "end": 2370.8,
          "text": "management"
        },
        {
          "start": 2370.84,
          "end": 2370.92,
          "text": "of"
        },
        {
          "start": 2370.96,
          "end": 2371.44,
          "text": "correlation"
        },
        {
          "start": 2371.68,
          "end": 2371.84,
          "text": "is"
        },
        {
          "start": 2372.44,
          "end": 2372.8,
          "text": "super"
        },
        {
          "start": 2372.84,
          "end": 2373.52,
          "text": "fundamental"
        },
        {
          "start": 2373.52,
          "end": 2373.6,
          "text": "to"
        },
        {
          "start": 2373.68,
          "end": 2374.08,
          "text": "management"
        },
        {
          "start": 2374.12,
          "end": 2374.16,
          "text": "of"
        },
        {
          "start": 2374.24,
          "end": 2374.4,
          "text": "risk."
        },
        {
          "start": 2374.44,
          "end": 2374.52,
          "text": "In"
        },
        {
          "start": 2374.52,
          "end": 2374.6,
          "text": "the"
        },
        {
          "start": 2374.6,
          "end": 2374.96,
          "text": "context"
        },
        {
          "start": 2375.04,
          "end": 2375.08,
          "text": "of"
        },
        {
          "start": 2375.08,
          "end": 2375.24,
          "text": "any"
        },
        {
          "start": 2375.28,
          "end": 2375.52,
          "text": "multi"
        },
        {
          "start": 2375.56,
          "end": 2375.92,
          "text": "strategy"
        },
        {
          "start": 2375.96,
          "end": 2376.16,
          "text": "hedge"
        },
        {
          "start": 2376.16,
          "end": 2376.4,
          "text": "fund."
        },
        {
          "start": 2376.84,
          "end": 2377.08,
          "text": "There's"
        },
        {
          "start": 2377.56,
          "end": 2378.56,
          "text": "tremendous"
        },
        {
          "start": 2378.72,
          "end": 2379.2,
          "text": "benefits"
        },
        {
          "start": 2379.24,
          "end": 2379.28,
          "text": "to"
        },
        {
          "start": 2379.36,
          "end": 2379.6,
          "text": "keeping"
        },
        {
          "start": 2379.6,
          "end": 2379.72,
          "text": "your"
        },
        {
          "start": 2379.72,
          "end": 2380.2,
          "text": "correlation"
        },
        {
          "start": 2380.32,
          "end": 2380.52,
          "text": "low"
        },
        {
          "start": 2380.52,
          "end": 2380.8,
          "text": "between"
        },
        {
          "start": 2380.8,
          "end": 2380.92,
          "text": "your"
        },
        {
          "start": 2380.92,
          "end": 2381.44,
          "text": "strategies,"
        },
        {
          "start": 2381.48,
          "end": 2381.52,
          "text": "in"
        },
        {
          "start": 2381.6,
          "end": 2381.8,
          "text": "terms"
        },
        {
          "start": 2381.84,
          "end": 2381.88,
          "text": "of"
        },
        {
          "start": 2381.92,
          "end": 2382.12,
          "text": "risk"
        },
        {
          "start": 2382.16,
          "end": 2382.64,
          "text": "management,"
        },
        {
          "start": 2383.24,
          "end": 2383.32,
          "text": "in"
        },
        {
          "start": 2383.4,
          "end": 2383.56,
          "text": "terms"
        },
        {
          "start": 2383.6,
          "end": 2383.68,
          "text": "of"
        },
        {
          "start": 2383.72,
          "end": 2383.8,
          "text": "how"
        },
        {
          "start": 2383.88,
          "end": 2384.04,
          "text": "much"
        },
        {
          "start": 2384.08,
          "end": 2384.12,
          "text": "you"
        },
        {
          "start": 2384.12,
          "end": 2384.24,
          "text": "can"
        },
        {
          "start": 2384.32,
          "end": 2384.52,
          "text": "lever,"
        },
        {
          "start": 2384.68,
          "end": 2384.76,
          "text": "in"
        },
        {
          "start": 2384.84,
          "end": 2385.08,
          "text": "terms"
        },
        {
          "start": 2385.12,
          "end": 2385.32,
          "text": "of"
        },
        {
          "start": 2385.36,
          "end": 2385.8,
          "text": "everything."
        },
        {
          "start": 2386.04,
          "end": 2386.16,
          "text": "When"
        },
        {
          "start": 2386.2,
          "end": 2386.28,
          "text": "I"
        },
        {
          "start": 2386.28,
          "end": 2386.44,
          "text": "look"
        },
        {
          "start": 2386.48,
          "end": 2386.56,
          "text": "at"
        },
        {
          "start": 2386.64,
          "end": 2387.0,
          "text": "managers,"
        },
        {
          "start": 2387.0,
          "end": 2387.4,
          "text": "when"
        },
        {
          "start": 2387.44,
          "end": 2387.52,
          "text": "I"
        },
        {
          "start": 2387.56,
          "end": 2387.8,
          "text": "test"
        },
        {
          "start": 2387.8,
          "end": 2388.24,
          "text": "managers,"
        },
        {
          "start": 2388.24,
          "end": 2388.36,
          "text": "when"
        },
        {
          "start": 2388.4,
          "end": 2388.52,
          "text": "they"
        },
        {
          "start": 2388.6,
          "end": 2388.68,
          "text": "you"
        },
        {
          "start": 2388.68,
          "end": 2388.76,
          "text": "know,"
        },
        {
          "start": 2388.76,
          "end": 2388.88,
          "text": "when"
        },
        {
          "start": 2388.88,
          "end": 2388.92,
          "text": "I"
        },
        {
          "start": 2388.96,
          "end": 2389.4,
          "text": "simulate"
        },
        {
          "start": 2389.44,
          "end": 2389.88,
          "text": "managers,"
        },
        {
          "start": 2390.72,
          "end": 2390.76,
          "text": "I"
        },
        {
          "start": 2390.8,
          "end": 2390.96,
          "text": "look"
        },
        {
          "start": 2390.96,
          "end": 2391.04,
          "text": "at"
        },
        {
          "start": 2391.12,
          "end": 2391.24,
          "text": "kind"
        },
        {
          "start": 2391.24,
          "end": 2391.32,
          "text": "of"
        },
        {
          "start": 2391.32,
          "end": 2391.44,
          "text": "two"
        },
        {
          "start": 2391.48,
          "end": 2392.0,
          "text": "regimes,"
        },
        {
          "start": 2392.08,
          "end": 2392.28,
          "text": "low"
        },
        {
          "start": 2392.32,
          "end": 2392.36,
          "text": "and"
        },
        {
          "start": 2392.44,
          "end": 2392.64,
          "text": "high"
        },
        {
          "start": 2392.64,
          "end": 2393.12,
          "text": "correlation,"
        },
        {
          "start": 2393.36,
          "end": 2393.52,
          "text": "and"
        },
        {
          "start": 2393.6,
          "end": 2393.96,
          "text": "everything"
        },
        {
          "start": 2393.96,
          "end": 2394.04,
          "text": "that"
        },
        {
          "start": 2394.08,
          "end": 2394.36,
          "text": "works"
        },
        {
          "start": 2394.36,
          "end": 2394.48,
          "text": "in"
        },
        {
          "start": 2394.52,
          "end": 2394.76,
          "text": "low"
        },
        {
          "start": 2395.04,
          "end": 2395.08,
          "text": "is"
        },
        {
          "start": 2395.16,
          "end": 2395.6,
          "text": "punishes"
        },
        {
          "start": 2395.64,
          "end": 2395.72,
          "text": "you"
        },
        {
          "start": 2395.72,
          "end": 2395.8,
          "text": "in"
        },
        {
          "start": 2395.84,
          "end": 2396.0,
          "text": "high"
        },
        {
          "start": 2396.04,
          "end": 2396.48,
          "text": "correlation."
        },
        {
          "start": 2396.84,
          "end": 2397.04,
          "text": "Right."
        },
        {
          "start": 2397.12,
          "end": 2397.2,
          "text": "For"
        },
        {
          "start": 2397.24,
          "end": 2397.72,
          "text": "example,"
        },
        {
          "start": 2398.12,
          "end": 2398.28,
          "text": "when"
        },
        {
          "start": 2398.28,
          "end": 2398.88,
          "text": "you're"
        },
        {
          "start": 2398.92,
          "end": 2399.32,
          "text": "creating"
        },
        {
          "start": 2399.48,
          "end": 2400.0,
          "text": "diversified"
        },
        {
          "start": 2400.04,
          "end": 2400.48,
          "text": "portfolio"
        },
        {
          "start": 2400.52,
          "end": 2400.6,
          "text": "of"
        },
        {
          "start": 2400.64,
          "end": 2400.88,
          "text": "really"
        },
        {
          "start": 2400.88,
          "end": 2401.12,
          "text": "cool"
        },
        {
          "start": 2401.12,
          "end": 2401.4,
          "text": "trades"
        },
        {
          "start": 2401.4,
          "end": 2401.48,
          "text": "that"
        },
        {
          "start": 2401.48,
          "end": 2401.56,
          "text": "have"
        },
        {
          "start": 2401.6,
          "end": 2401.84,
          "text": "nothing"
        },
        {
          "start": 2401.88,
          "end": 2401.96,
          "text": "to"
        },
        {
          "start": 2401.96,
          "end": 2402.04,
          "text": "do"
        },
        {
          "start": 2402.12,
          "end": 2402.16,
          "text": "with"
        },
        {
          "start": 2402.16,
          "end": 2402.32,
          "text": "each"
        },
        {
          "start": 2402.32,
          "end": 2402.52,
          "text": "other,"
        },
        {
          "start": 2402.8,
          "end": 2402.88,
          "text": "is"
        },
        {
          "start": 2402.96,
          "end": 2403.24,
          "text": "great."
        },
        {
          "start": 2403.28,
          "end": 2403.44,
          "text": "When"
        },
        {
          "start": 2403.48,
          "end": 2403.56,
          "text": "it"
        },
        {
          "start": 2403.6,
          "end": 2403.88,
          "text": "works"
        },
        {
          "start": 2404.32,
          "end": 2404.44,
          "text": "in"
        },
        {
          "start": 2404.48,
          "end": 2404.56,
          "text": "a"
        },
        {
          "start": 2404.76,
          "end": 2404.96,
          "text": "high"
        },
        {
          "start": 2405.0,
          "end": 2405.44,
          "text": "correlation"
        },
        {
          "start": 2405.56,
          "end": 2405.92,
          "text": "environment"
        },
        {
          "start": 2406.04,
          "end": 2406.08,
          "text": "is"
        },
        {
          "start": 2406.08,
          "end": 2406.16,
          "text": "a"
        },
        {
          "start": 2406.24,
          "end": 2406.68,
          "text": "nightmare"
        },
        {
          "start": 2407.0,
          "end": 2407.32,
          "text": "because"
        },
        {
          "start": 2407.36,
          "end": 2407.48,
          "text": "it's"
        },
        {
          "start": 2407.56,
          "end": 2407.8,
          "text": "things"
        },
        {
          "start": 2407.8,
          "end": 2407.96,
          "text": "you've"
        },
        {
          "start": 2408.0,
          "end": 2408.12,
          "text": "never"
        },
        {
          "start": 2408.16,
          "end": 2408.32,
          "text": "heard"
        },
        {
          "start": 2408.4,
          "end": 2408.48,
          "text": "of"
        },
        {
          "start": 2408.56,
          "end": 2408.8,
          "text": "blowing"
        },
        {
          "start": 2408.88,
          "end": 2409.0,
          "text": "up."
        },
        {
          "start": 2409.08,
          "end": 2409.36,
          "text": "Because"
        },
        {
          "start": 2409.4,
          "end": 2409.44,
          "text": "I"
        },
        {
          "start": 2409.44,
          "end": 2409.56,
          "text": "mean,"
        },
        {
          "start": 2409.56,
          "end": 2409.76,
          "text": "there's"
        },
        {
          "start": 2409.76,
          "end": 2409.8,
          "text": "a"
        },
        {
          "start": 2409.8,
          "end": 2410.04,
          "text": "limited"
        },
        {
          "start": 2410.04,
          "end": 2410.44,
          "text": "amount"
        },
        {
          "start": 2410.44,
          "end": 2410.48,
          "text": "of"
        },
        {
          "start": 2410.48,
          "end": 2410.64,
          "text": "things"
        },
        {
          "start": 2410.64,
          "end": 2410.68,
          "text": "that"
        },
        {
          "start": 2410.76,
          "end": 2410.92,
          "text": "any"
        },
        {
          "start": 2411.12,
          "end": 2411.28,
          "text": "any"
        },
        {
          "start": 2411.28,
          "end": 2411.4,
          "text": "one"
        },
        {
          "start": 2411.44,
          "end": 2411.64,
          "text": "person"
        },
        {
          "start": 2411.72,
          "end": 2411.88,
          "text": "can"
        },
        {
          "start": 2411.92,
          "end": 2412.04,
          "text": "know,"
        },
        {
          "start": 2412.52,
          "end": 2412.72,
          "text": "right,"
        },
        {
          "start": 2412.8,
          "end": 2412.92,
          "text": "So"
        },
        {
          "start": 2413.2,
          "end": 2413.36,
          "text": "every"
        },
        {
          "start": 2413.48,
          "end": 2413.76,
          "text": "choice"
        },
        {
          "start": 2413.76,
          "end": 2413.84,
          "text": "you"
        },
        {
          "start": 2413.92,
          "end": 2414.08,
          "text": "make"
        },
        {
          "start": 2414.24,
          "end": 2414.36,
          "text": "at"
        },
        {
          "start": 2414.36,
          "end": 2414.44,
          "text": "a"
        },
        {
          "start": 2414.44,
          "end": 2414.6,
          "text": "low"
        },
        {
          "start": 2414.64,
          "end": 2415.04,
          "text": "correlation"
        },
        {
          "start": 2415.12,
          "end": 2415.52,
          "text": "environment"
        },
        {
          "start": 2415.68,
          "end": 2416.24,
          "text": "will"
        },
        {
          "start": 2416.28,
          "end": 2416.4,
          "text": "come"
        },
        {
          "start": 2416.44,
          "end": 2416.6,
          "text": "back"
        },
        {
          "start": 2416.6,
          "end": 2416.68,
          "text": "to"
        },
        {
          "start": 2416.68,
          "end": 2416.88,
          "text": "bite"
        },
        {
          "start": 2416.88,
          "end": 2416.92,
          "text": "you"
        },
        {
          "start": 2417.0,
          "end": 2417.04,
          "text": "in"
        },
        {
          "start": 2417.04,
          "end": 2417.08,
          "text": "a"
        },
        {
          "start": 2417.12,
          "end": 2417.28,
          "text": "high"
        },
        {
          "start": 2417.28,
          "end": 2417.68,
          "text": "correlation"
        },
        {
          "start": 2417.8,
          "end": 2418.24,
          "text": "environment."
        },
        {
          "start": 2419.04,
          "end": 2419.8,
          "text": "Correlations"
        },
        {
          "start": 2419.8,
          "end": 2420.08,
          "text": "between"
        },
        {
          "start": 2420.12,
          "end": 2420.4,
          "text": "asset"
        },
        {
          "start": 2420.4,
          "end": 2420.76,
          "text": "classes"
        },
        {
          "start": 2420.84,
          "end": 2420.88,
          "text": "is"
        },
        {
          "start": 2420.88,
          "end": 2420.96,
          "text": "a"
        },
        {
          "start": 2420.96,
          "end": 2421.44,
          "text": "fundamental"
        },
        {
          "start": 2421.44,
          "end": 2421.68,
          "text": "part"
        },
        {
          "start": 2421.72,
          "end": 2421.76,
          "text": "of"
        },
        {
          "start": 2421.8,
          "end": 2421.88,
          "text": "that."
        },
        {
          "start": 2422.2,
          "end": 2422.28,
          "text": "But"
        },
        {
          "start": 2422.84,
          "end": 2422.92,
          "text": "the"
        },
        {
          "start": 2423.0,
          "end": 2423.52,
          "text": "critical"
        },
        {
          "start": 2423.6,
          "end": 2423.84,
          "text": "thing"
        },
        {
          "start": 2424.0,
          "end": 2424.44,
          "text": "around"
        },
        {
          "start": 2424.48,
          "end": 2424.64,
          "text": "that"
        },
        {
          "start": 2424.84,
          "end": 2425.0,
          "text": "is"
        },
        {
          "start": 2425.08,
          "end": 2425.2,
          "text": "the"
        },
        {
          "start": 2425.68,
          "end": 2425.84,
          "text": "and"
        },
        {
          "start": 2426.04,
          "end": 2426.16,
          "text": "this"
        },
        {
          "start": 2426.24,
          "end": 2426.32,
          "text": "is"
        },
        {
          "start": 2426.36,
          "end": 2426.48,
          "text": "one"
        },
        {
          "start": 2426.52,
          "end": 2426.56,
          "text": "of"
        },
        {
          "start": 2426.88,
          "end": 2426.96,
          "text": "my"
        },
        {
          "start": 2426.96,
          "end": 2427.32,
          "text": "managers"
        },
        {
          "start": 2427.32,
          "end": 2427.48,
          "text": "said"
        },
        {
          "start": 2427.48,
          "end": 2427.56,
          "text": "to"
        },
        {
          "start": 2427.56,
          "end": 2427.64,
          "text": "this,"
        },
        {
          "start": 2427.72,
          "end": 2427.88,
          "text": "it's"
        },
        {
          "start": 2427.92,
          "end": 2428.0,
          "text": "like,"
        },
        {
          "start": 2428.16,
          "end": 2428.28,
          "text": "when"
        },
        {
          "start": 2428.32,
          "end": 2428.48,
          "text": "you're"
        },
        {
          "start": 2428.48,
          "end": 2429.0,
          "text": "sufficiently"
        },
        {
          "start": 2429.04,
          "end": 2429.68,
          "text": "diversified,"
        },
        {
          "start": 2430.32,
          "end": 2430.48,
          "text": "each"
        },
        {
          "start": 2430.56,
          "end": 2431.04,
          "text": "individual"
        },
        {
          "start": 2431.08,
          "end": 2431.2,
          "text": "line"
        },
        {
          "start": 2431.24,
          "end": 2431.28,
          "text": "it"
        },
        {
          "start": 2431.36,
          "end": 2431.48,
          "text": "him"
        },
        {
          "start": 2431.48,
          "end": 2431.52,
          "text": "you"
        },
        {
          "start": 2431.56,
          "end": 2431.72,
          "text": "ad"
        },
        {
          "start": 2431.8,
          "end": 2431.96,
          "text": "makes"
        },
        {
          "start": 2432.0,
          "end": 2432.04,
          "text": "no"
        },
        {
          "start": 2432.08,
          "end": 2432.52,
          "text": "difference"
        },
        {
          "start": 2432.72,
          "end": 2432.8,
          "text": "to"
        },
        {
          "start": 2432.84,
          "end": 2432.92,
          "text": "the"
        },
        {
          "start": 2433.0,
          "end": 2433.4,
          "text": "portfolio"
        },
        {
          "start": 2433.52,
          "end": 2433.68,
          "text": "risk"
        },
        {
          "start": 2433.72,
          "end": 2433.76,
          "text": "or"
        },
        {
          "start": 2433.8,
          "end": 2433.92,
          "text": "innd"
        },
        {
          "start": 2434.0,
          "end": 2434.08,
          "text": "like"
        },
        {
          "start": 2434.12,
          "end": 2434.28,
          "text": "that,"
        },
        {
          "start": 2434.88,
          "end": 2435.4,
          "text": "except"
        },
        {
          "start": 2436.04,
          "end": 2436.12,
          "text": "what"
        },
        {
          "start": 2436.24,
          "end": 2436.44,
          "text": "you're"
        },
        {
          "start": 2436.48,
          "end": 2436.96,
          "text": "actually"
        },
        {
          "start": 2437.2,
          "end": 2437.52,
          "text": "looking"
        },
        {
          "start": 2437.52,
          "end": 2437.6,
          "text": "to"
        },
        {
          "start": 2437.6,
          "end": 2438.12,
          "text": "allocate"
        },
        {
          "start": 2438.16,
          "end": 2438.28,
          "text": "when"
        },
        {
          "start": 2438.32,
          "end": 2438.48,
          "text": "you're"
        },
        {
          "start": 2438.48,
          "end": 2438.64,
          "text": "at"
        },
        {
          "start": 2438.64,
          "end": 2438.76,
          "text": "that"
        },
        {
          "start": 2438.8,
          "end": 2439.44,
          "text": "diversified"
        },
        {
          "start": 2439.92,
          "end": 2440.04,
          "text": "is"
        },
        {
          "start": 2440.08,
          "end": 2440.24,
          "text": "how"
        },
        {
          "start": 2440.32,
          "end": 2440.52,
          "text": "much"
        },
        {
          "start": 2440.56,
          "end": 2440.6,
          "text": "of"
        },
        {
          "start": 2440.64,
          "end": 2440.72,
          "text": "a"
        },
        {
          "start": 2440.8,
          "end": 2441.04,
          "text": "loss"
        },
        {
          "start": 2441.04,
          "end": 2441.12,
          "text": "you"
        },
        {
          "start": 2441.12,
          "end": 2441.28,
          "text": "can"
        },
        {
          "start": 2441.32,
          "end": 2441.44,
          "text": "make"
        },
        {
          "start": 2441.48,
          "end": 2441.56,
          "text": "in"
        },
        {
          "start": 2441.56,
          "end": 2441.6,
          "text": "that"
        },
        {
          "start": 2441.68,
          "end": 2441.88,
          "text": "high"
        },
        {
          "start": 2441.88,
          "end": 2442.36,
          "text": "correlational"
        },
        {
          "start": 2442.44,
          "end": 2442.84,
          "text": "environment,"
        },
        {
          "start": 2443.0,
          "end": 2443.08,
          "text": "how"
        },
        {
          "start": 2443.16,
          "end": 2443.32,
          "text": "much"
        },
        {
          "start": 2443.32,
          "end": 2443.4,
          "text": "of"
        },
        {
          "start": 2443.4,
          "end": 2443.52,
          "text": "a"
        },
        {
          "start": 2443.52,
          "end": 2443.76,
          "text": "loss"
        },
        {
          "start": 2443.76,
          "end": 2443.92,
          "text": "you're"
        },
        {
          "start": 2443.92,
          "end": 2444.16,
          "text": "willing"
        },
        {
          "start": 2444.16,
          "end": 2444.24,
          "text": "to"
        },
        {
          "start": 2444.24,
          "end": 2444.48,
          "text": "bear,"
        },
        {
          "start": 2444.6,
          "end": 2444.72,
          "text": "And"
        },
        {
          "start": 2444.76,
          "end": 2444.84,
          "text": "so"
        },
        {
          "start": 2444.92,
          "end": 2445.08,
          "text": "if"
        },
        {
          "start": 2445.12,
          "end": 2445.2,
          "text": "that"
        },
        {
          "start": 2445.68,
          "end": 2446.12,
          "text": "individual"
        },
        {
          "start": 2446.2,
          "end": 2446.64,
          "text": "component"
        },
        {
          "start": 2446.76,
          "end": 2446.84,
          "text": "is"
        },
        {
          "start": 2446.84,
          "end": 2447.08,
          "text": "something"
        },
        {
          "start": 2447.12,
          "end": 2447.28,
          "text": "that's"
        },
        {
          "start": 2447.28,
          "end": 2447.68,
          "text": "additive"
        },
        {
          "start": 2447.68,
          "end": 2447.76,
          "text": "to"
        },
        {
          "start": 2447.8,
          "end": 2447.88,
          "text": "that"
        },
        {
          "start": 2447.96,
          "end": 2448.16,
          "text": "loss"
        },
        {
          "start": 2448.24,
          "end": 2448.28,
          "text": "or"
        },
        {
          "start": 2448.32,
          "end": 2448.48,
          "text": "makes"
        },
        {
          "start": 2448.52,
          "end": 2448.6,
          "text": "it"
        },
        {
          "start": 2448.68,
          "end": 2449.0,
          "text": "worse,"
        },
        {
          "start": 2449.92,
          "end": 2450.16,
          "text": "that's"
        },
        {
          "start": 2450.24,
          "end": 2450.44,
          "text": "where"
        },
        {
          "start": 2450.44,
          "end": 2450.48,
          "text": "you"
        },
        {
          "start": 2450.6,
          "end": 2450.84,
          "text": "judge"
        },
        {
          "start": 2450.88,
          "end": 2450.96,
          "text": "it."
        },
        {
          "start": 2451.0,
          "end": 2451.12,
          "text": "Right,"
        },
        {
          "start": 2451.12,
          "end": 2451.24,
          "text": "when"
        },
        {
          "start": 2451.28,
          "end": 2451.4,
          "text": "you're"
        },
        {
          "start": 2451.4,
          "end": 2452.32,
          "text": "sufficiently"
        },
        {
          "start": 2452.4,
          "end": 2452.88,
          "text": "diversified,"
        },
        {
          "start": 2452.92,
          "end": 2453.0,
          "text": "so"
        },
        {
          "start": 2453.04,
          "end": 2453.12,
          "text": "you"
        },
        {
          "start": 2453.12,
          "end": 2453.28,
          "text": "try"
        },
        {
          "start": 2453.32,
          "end": 2453.36,
          "text": "to"
        },
        {
          "start": 2453.36,
          "end": 2453.72,
          "text": "insulate"
        },
        {
          "start": 2453.72,
          "end": 2454.0,
          "text": "yourself"
        },
        {
          "start": 2454.04,
          "end": 2454.16,
          "text": "from"
        },
        {
          "start": 2454.2,
          "end": 2454.6,
          "text": "breakdown"
        },
        {
          "start": 2454.64,
          "end": 2454.68,
          "text": "and"
        },
        {
          "start": 2454.72,
          "end": 2455.2,
          "text": "correlation"
        },
        {
          "start": 2455.88,
          "end": 2456.08,
          "text": "by"
        },
        {
          "start": 2456.28,
          "end": 2456.56,
          "text": "having"
        },
        {
          "start": 2456.56,
          "end": 2456.64,
          "text": "a"
        },
        {
          "start": 2456.68,
          "end": 2457.04,
          "text": "budget"
        },
        {
          "start": 2457.12,
          "end": 2457.2,
          "text": "for"
        },
        {
          "start": 2457.24,
          "end": 2457.32,
          "text": "that"
        },
        {
          "start": 2457.36,
          "end": 2457.76,
          "text": "breakdown"
        },
        {
          "start": 2457.8,
          "end": 2457.84,
          "text": "and"
        },
        {
          "start": 2457.88,
          "end": 2458.32,
          "text": "correlation"
        },
        {
          "start": 2458.48,
          "end": 2458.64,
          "text": "and"
        },
        {
          "start": 2458.76,
          "end": 2459.04,
          "text": "making"
        },
        {
          "start": 2459.08,
          "end": 2459.32,
          "text": "sure"
        },
        {
          "start": 2459.36,
          "end": 2459.48,
          "text": "that"
        },
        {
          "start": 2459.48,
          "end": 2459.64,
          "text": "you're"
        },
        {
          "start": 2459.64,
          "end": 2459.96,
          "text": "individ"
        },
        {
          "start": 2460.08,
          "end": 2460.12,
          "text": "you"
        },
        {
          "start": 2460.16,
          "end": 2460.24,
          "text": "a"
        },
        {
          "start": 2460.28,
          "end": 2460.84,
          "text": "components."
        },
        {
          "start": 2461.4,
          "end": 2461.52,
          "text": "You"
        },
        {
          "start": 2461.6,
          "end": 2461.72,
          "text": "know"
        },
        {
          "start": 2461.76,
          "end": 2461.84,
          "text": "what"
        },
        {
          "start": 2461.92,
          "end": 2462.12,
          "text": "each"
        },
        {
          "start": 2462.12,
          "end": 2462.48,
          "text": "individual"
        },
        {
          "start": 2462.56,
          "end": 2462.88,
          "text": "component"
        },
        {
          "start": 2462.92,
          "end": 2462.96,
          "text": "for"
        },
        {
          "start": 2463.0,
          "end": 2463.36,
          "text": "portfolio"
        },
        {
          "start": 2463.44,
          "end": 2463.48,
          "text": "is"
        },
        {
          "start": 2463.52,
          "end": 2463.64,
          "text": "going"
        },
        {
          "start": 2463.64,
          "end": 2463.76,
          "text": "to"
        },
        {
          "start": 2463.76,
          "end": 2463.84,
          "text": "do"
        },
        {
          "start": 2463.88,
          "end": 2463.96,
          "text": "for"
        },
        {
          "start": 2464.0,
          "end": 2464.16,
          "text": "that"
        },
        {
          "start": 2465.0,
          "end": 2465.08,
          "text": "and"
        },
        {
          "start": 2465.12,
          "end": 2465.28,
          "text": "if"
        },
        {
          "start": 2465.28,
          "end": 2465.36,
          "text": "you"
        },
        {
          "start": 2465.4,
          "end": 2465.48,
          "text": "do"
        },
        {
          "start": 2465.56,
          "end": 2465.64,
          "text": "that,"
        },
        {
          "start": 2465.84,
          "end": 2466.0,
          "text": "then"
        },
        {
          "start": 2466.04,
          "end": 2466.2,
          "text": "you're"
        },
        {
          "start": 2466.28,
          "end": 2466.44,
          "text": "kind"
        },
        {
          "start": 2466.44,
          "end": 2466.52,
          "text": "of"
        },
        {
          "start": 2466.68,
          "end": 2466.84,
          "text": "that's"
        },
        {
          "start": 2466.84,
          "end": 2466.96,
          "text": "how"
        },
        {
          "start": 2466.96,
          "end": 2467.0,
          "text": "you"
        },
        {
          "start": 2467.32,
          "end": 2467.48,
          "text": "kind"
        },
        {
          "start": 2467.48,
          "end": 2467.52,
          "text": "of"
        },
        {
          "start": 2467.52,
          "end": 2467.8,
          "text": "figure"
        },
        {
          "start": 2467.8,
          "end": 2467.88,
          "text": "that"
        },
        {
          "start": 2467.92,
          "end": 2468.04,
          "text": "one"
        },
        {
          "start": 2468.08,
          "end": 2468.24,
          "text": "out."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2468.4,
          "end": 2468.56,
          "text": "Look."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2468.6,
          "end": 2468.64,
          "text": "You"
        },
        {
          "start": 2468.64,
          "end": 2468.8,
          "text": "can"
        },
        {
          "start": 2468.8,
          "end": 2468.92,
          "text": "buy"
        },
        {
          "start": 2468.96,
          "end": 2469.28,
          "text": "hedges"
        },
        {
          "start": 2469.32,
          "end": 2469.4,
          "text": "as"
        },
        {
          "start": 2469.44,
          "end": 2469.56,
          "text": "well,"
        },
        {
          "start": 2469.6,
          "end": 2469.64,
          "text": "and"
        },
        {
          "start": 2469.72,
          "end": 2469.96,
          "text": "people"
        },
        {
          "start": 2470.0,
          "end": 2470.08,
          "text": "do"
        },
        {
          "start": 2470.56,
          "end": 2471.08,
          "text": "explicitly"
        },
        {
          "start": 2471.12,
          "end": 2471.16,
          "text": "do"
        },
        {
          "start": 2471.24,
          "end": 2471.48,
          "text": "tail"
        },
        {
          "start": 2471.48,
          "end": 2471.8,
          "text": "hedging"
        },
        {
          "start": 2472.16,
          "end": 2472.24,
          "text": "to"
        },
        {
          "start": 2472.28,
          "end": 2472.68,
          "text": "provide"
        },
        {
          "start": 2472.72,
          "end": 2472.88,
          "text": "kind"
        },
        {
          "start": 2472.88,
          "end": 2473.0,
          "text": "of"
        },
        {
          "start": 2473.12,
          "end": 2473.48,
          "text": "return"
        },
        {
          "start": 2473.52,
          "end": 2473.6,
          "text": "and"
        },
        {
          "start": 2473.64,
          "end": 2473.84,
          "text": "cash"
        },
        {
          "start": 2473.88,
          "end": 2473.92,
          "text": "in"
        },
        {
          "start": 2473.96,
          "end": 2474.12,
          "text": "those"
        },
        {
          "start": 2474.12,
          "end": 2474.32,
          "text": "sorts"
        },
        {
          "start": 2474.32,
          "end": 2474.36,
          "text": "of"
        },
        {
          "start": 2474.36,
          "end": 2474.88,
          "text": "scenarios."
        },
        {
          "start": 2474.88,
          "end": 2474.96,
          "text": "But"
        },
        {
          "start": 2475.44,
          "end": 2476.0,
          "text": "allocating"
        },
        {
          "start": 2476.04,
          "end": 2476.2,
          "text": "that"
        },
        {
          "start": 2476.28,
          "end": 2476.56,
          "text": "tail"
        },
        {
          "start": 2476.68,
          "end": 2476.92,
          "text": "risk,"
        },
        {
          "start": 2477.08,
          "end": 2477.6,
          "text": "especially"
        },
        {
          "start": 2477.64,
          "end": 2477.68,
          "text": "in"
        },
        {
          "start": 2477.72,
          "end": 2477.8,
          "text": "a"
        },
        {
          "start": 2477.8,
          "end": 2478.0,
          "text": "pod"
        },
        {
          "start": 2478.0,
          "end": 2478.24,
          "text": "shot"
        },
        {
          "start": 2478.24,
          "end": 2478.48,
          "text": "because"
        },
        {
          "start": 2478.48,
          "end": 2478.68,
          "text": "they're"
        },
        {
          "start": 2478.68,
          "end": 2478.8,
          "text": "more"
        },
        {
          "start": 2478.84,
          "end": 2479.4,
          "text": "diversified,"
        },
        {
          "start": 2479.6,
          "end": 2479.68,
          "text": "is"
        },
        {
          "start": 2479.72,
          "end": 2480.16,
          "text": "probably"
        },
        {
          "start": 2480.2,
          "end": 2480.28,
          "text": "the"
        },
        {
          "start": 2480.32,
          "end": 2480.52,
          "text": "most"
        },
        {
          "start": 2480.52,
          "end": 2480.92,
          "text": "important"
        },
        {
          "start": 2481.0,
          "end": 2481.24,
          "text": "job"
        },
        {
          "start": 2481.52,
          "end": 2481.68,
          "text": "that"
        },
        {
          "start": 2481.68,
          "end": 2481.88,
          "text": "these"
        },
        {
          "start": 2481.88,
          "end": 2482.12,
          "text": "guys"
        },
        {
          "start": 2482.16,
          "end": 2482.24,
          "text": "have."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2483.12,
          "end": 2483.32,
          "text": "One"
        },
        {
          "start": 2483.36,
          "end": 2483.44,
          "text": "of"
        },
        {
          "start": 2483.48,
          "end": 2483.56,
          "text": "the"
        },
        {
          "start": 2483.6,
          "end": 2484.08,
          "text": "things"
        },
        {
          "start": 2484.2,
          "end": 2484.36,
          "text": "that"
        },
        {
          "start": 2484.44,
          "end": 2484.72,
          "text": "I'm"
        },
        {
          "start": 2484.8,
          "end": 2485.24,
          "text": "interested"
        },
        {
          "start": 2485.24,
          "end": 2485.32,
          "text": "in"
        },
        {
          "start": 2485.36,
          "end": 2485.4,
          "text": "is"
        },
        {
          "start": 2485.52,
          "end": 2485.56,
          "text": "you"
        },
        {
          "start": 2485.64,
          "end": 2485.68,
          "text": "know,"
        },
        {
          "start": 2485.72,
          "end": 2485.92,
          "text": "there's"
        },
        {
          "start": 2485.96,
          "end": 2486.16,
          "text": "still"
        },
        {
          "start": 2486.28,
          "end": 2486.52,
          "text": "new"
        },
        {
          "start": 2486.72,
          "end": 2487.56,
          "text": "multistrats"
        },
        {
          "start": 2487.8,
          "end": 2488.08,
          "text": "being"
        },
        {
          "start": 2488.28,
          "end": 2488.76,
          "text": "launched."
        },
        {
          "start": 2489.52,
          "end": 2489.6,
          "text": "A"
        },
        {
          "start": 2489.64,
          "end": 2489.84,
          "text": "lot"
        },
        {
          "start": 2489.88,
          "end": 2489.96,
          "text": "of"
        },
        {
          "start": 2490.0,
          "end": 2490.16,
          "text": "them"
        },
        {
          "start": 2490.24,
          "end": 2490.72,
          "text": "continue"
        },
        {
          "start": 2490.76,
          "end": 2490.84,
          "text": "to"
        },
        {
          "start": 2490.88,
          "end": 2491.04,
          "text": "make"
        },
        {
          "start": 2491.04,
          "end": 2491.12,
          "text": "a"
        },
        {
          "start": 2491.12,
          "end": 2491.28,
          "text": "lot"
        },
        {
          "start": 2491.32,
          "end": 2491.4,
          "text": "of"
        },
        {
          "start": 2491.44,
          "end": 2491.76,
          "text": "money,"
        },
        {
          "start": 2491.76,
          "end": 2491.84,
          "text": "but"
        },
        {
          "start": 2491.96,
          "end": 2492.2,
          "text": "there"
        },
        {
          "start": 2492.24,
          "end": 2492.4,
          "text": "has"
        },
        {
          "start": 2492.48,
          "end": 2492.56,
          "text": "to"
        },
        {
          "start": 2492.6,
          "end": 2492.8,
          "text": "be"
        },
        {
          "start": 2492.88,
          "end": 2492.96,
          "text": "some"
        },
        {
          "start": 2493.76,
          "end": 2494.12,
          "text": "limit"
        },
        {
          "start": 2494.64,
          "end": 2494.72,
          "text": "to"
        },
        {
          "start": 2496.32,
          "end": 2496.4,
          "text": "the"
        },
        {
          "start": 2496.48,
          "end": 2496.8,
          "text": "alpha"
        },
        {
          "start": 2496.88,
          "end": 2497.4,
          "text": "generated"
        },
        {
          "start": 2497.44,
          "end": 2498.08,
          "text": "capacity"
        },
        {
          "start": 2498.16,
          "end": 2498.28,
          "text": "of"
        },
        {
          "start": 2498.32,
          "end": 2498.52,
          "text": "these"
        },
        {
          "start": 2498.6,
          "end": 2499.12,
          "text": "vehicles."
        },
        {
          "start": 2499.24,
          "end": 2499.28,
          "text": "I"
        },
        {
          "start": 2499.32,
          "end": 2499.6,
          "text": "would"
        },
        {
          "start": 2499.68,
          "end": 2499.96,
          "text": "think,"
        },
        {
          "start": 2500.44,
          "end": 2500.56,
          "text": "and"
        },
        {
          "start": 2500.88,
          "end": 2501.12,
          "text": "I'm"
        },
        {
          "start": 2501.16,
          "end": 2501.48,
          "text": "trying"
        },
        {
          "start": 2501.48,
          "end": 2501.64,
          "text": "to"
        },
        {
          "start": 2501.84,
          "end": 2502.12,
          "text": "wrap"
        },
        {
          "start": 2502.12,
          "end": 2502.44,
          "text": "around"
        },
        {
          "start": 2502.48,
          "end": 2502.56,
          "text": "my"
        },
        {
          "start": 2502.68,
          "end": 2502.92,
          "text": "head"
        },
        {
          "start": 2503.0,
          "end": 2503.28,
          "text": "about"
        },
        {
          "start": 2503.44,
          "end": 2503.52,
          "text": "what"
        },
        {
          "start": 2503.64,
          "end": 2503.96,
          "text": "happened."
        },
        {
          "start": 2503.96,
          "end": 2504.08,
          "text": "Does"
        },
        {
          "start": 2504.16,
          "end": 2504.28,
          "text": "more"
        },
        {
          "start": 2504.28,
          "end": 2504.36,
          "text": "and"
        },
        {
          "start": 2504.4,
          "end": 2504.56,
          "text": "more"
        },
        {
          "start": 2504.6,
          "end": 2504.88,
          "text": "funds"
        },
        {
          "start": 2504.92,
          "end": 2505.28,
          "text": "launch"
        },
        {
          "start": 2505.36,
          "end": 2505.48,
          "text": "and"
        },
        {
          "start": 2505.52,
          "end": 2505.64,
          "text": "what"
        },
        {
          "start": 2505.8,
          "end": 2505.88,
          "text": "is"
        },
        {
          "start": 2505.92,
          "end": 2506.0,
          "text": "the"
        },
        {
          "start": 2506.04,
          "end": 2506.64,
          "text": "capacity?"
        },
        {
          "start": 2507.24,
          "end": 2507.36,
          "text": "And"
        },
        {
          "start": 2507.44,
          "end": 2507.72,
          "text": "based"
        },
        {
          "start": 2507.76,
          "end": 2507.84,
          "text": "on"
        },
        {
          "start": 2507.88,
          "end": 2508.0,
          "text": "this"
        },
        {
          "start": 2508.04,
          "end": 2508.6,
          "text": "conversation,"
        },
        {
          "start": 2508.68,
          "end": 2508.8,
          "text": "if"
        },
        {
          "start": 2508.8,
          "end": 2508.88,
          "text": "I"
        },
        {
          "start": 2508.92,
          "end": 2509.08,
          "text": "had"
        },
        {
          "start": 2509.12,
          "end": 2509.28,
          "text": "to."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2509.24,
          "end": 2509.52,
          "text": "Guess"
        },
        {
          "start": 2509.52,
          "end": 2509.84,
          "text": "about"
        },
        {
          "start": 2509.84,
          "end": 2509.96,
          "text": "what"
        },
        {
          "start": 2510.04,
          "end": 2510.6,
          "text": "degrades"
        },
        {
          "start": 2510.64,
          "end": 2510.96,
          "text": "alpha"
        },
        {
          "start": 2511.0,
          "end": 2511.4,
          "text": "over."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2511.28,
          "end": 2511.52,
          "text": "Time,"
        },
        {
          "start": 2512.0,
          "end": 2512.08,
          "text": "it"
        },
        {
          "start": 2512.12,
          "end": 2512.36,
          "text": "would"
        },
        {
          "start": 2512.44,
          "end": 2512.68,
          "text": "be"
        },
        {
          "start": 2513.04,
          "end": 2513.36,
          "text": "something"
        },
        {
          "start": 2513.4,
          "end": 2513.48,
          "text": "to"
        },
        {
          "start": 2513.52,
          "end": 2513.6,
          "text": "do"
        },
        {
          "start": 2513.64,
          "end": 2513.72,
          "text": "with"
        },
        {
          "start": 2513.8,
          "end": 2514.36,
          "text": "compensation,"
        },
        {
          "start": 2514.44,
          "end": 2514.64,
          "text": "where"
        },
        {
          "start": 2514.76,
          "end": 2514.88,
          "text": "just"
        },
        {
          "start": 2514.92,
          "end": 2515.0,
          "text": "like"
        },
        {
          "start": 2515.12,
          "end": 2515.32,
          "text": "all"
        },
        {
          "start": 2515.36,
          "end": 2515.44,
          "text": "the"
        },
        {
          "start": 2515.52,
          "end": 2515.88,
          "text": "money"
        },
        {
          "start": 2516.36,
          "end": 2516.92,
          "text": "accruise"
        },
        {
          "start": 2517.0,
          "end": 2517.16,
          "text": "at"
        },
        {
          "start": 2517.16,
          "end": 2517.28,
          "text": "the"
        },
        {
          "start": 2517.28,
          "end": 2517.6,
          "text": "PM"
        },
        {
          "start": 2517.76,
          "end": 2517.96,
          "text": "level"
        },
        {
          "start": 2518.04,
          "end": 2518.28,
          "text": "because"
        },
        {
          "start": 2518.32,
          "end": 2518.52,
          "text": "there's"
        },
        {
          "start": 2518.52,
          "end": 2518.72,
          "text": "such"
        },
        {
          "start": 2518.76,
          "end": 2519.32,
          "text": "competition"
        },
        {
          "start": 2519.44,
          "end": 2519.56,
          "text": "with"
        },
        {
          "start": 2519.6,
          "end": 2519.76,
          "text": "more"
        },
        {
          "start": 2520.4,
          "end": 2520.6,
          "text": "talk"
        },
        {
          "start": 2520.64,
          "end": 2520.72,
          "text": "to"
        },
        {
          "start": 2520.8,
          "end": 2520.88,
          "text": "us"
        },
        {
          "start": 2520.92,
          "end": 2521.16,
          "text": "about"
        },
        {
          "start": 2521.2,
          "end": 2521.28,
          "text": "like"
        },
        {
          "start": 2521.56,
          "end": 2521.68,
          "text": "how"
        },
        {
          "start": 2521.88,
          "end": 2521.92,
          "text": "you"
        },
        {
          "start": 2521.96,
          "end": 2522.24,
          "text": "would"
        },
        {
          "start": 2522.6,
          "end": 2523.2,
          "text": "articulate"
        },
        {
          "start": 2523.32,
          "end": 2523.4,
          "text": "the"
        },
        {
          "start": 2523.6,
          "end": 2523.84,
          "text": "source"
        },
        {
          "start": 2523.88,
          "end": 2523.92,
          "text": "of"
        },
        {
          "start": 2523.96,
          "end": 2524.24,
          "text": "alpha"
        },
        {
          "start": 2524.28,
          "end": 2524.36,
          "text": "and"
        },
        {
          "start": 2524.36,
          "end": 2524.48,
          "text": "how"
        },
        {
          "start": 2524.56,
          "end": 2524.76,
          "text": "much"
        },
        {
          "start": 2524.84,
          "end": 2525.0,
          "text": "can"
        },
        {
          "start": 2525.2,
          "end": 2525.96,
          "text": "realistically"
        },
        {
          "start": 2526.28,
          "end": 2526.36,
          "text": "be"
        },
        {
          "start": 2526.6,
          "end": 2527.2,
          "text": "captured"
        },
        {
          "start": 2527.84,
          "end": 2528.04,
          "text": "as"
        },
        {
          "start": 2528.16,
          "end": 2528.32,
          "text": "more"
        },
        {
          "start": 2528.36,
          "end": 2528.44,
          "text": "and"
        },
        {
          "start": 2528.48,
          "end": 2528.64,
          "text": "more"
        },
        {
          "start": 2528.68,
          "end": 2529.0,
          "text": "people"
        },
        {
          "start": 2529.28,
          "end": 2529.36,
          "text": "and"
        },
        {
          "start": 2529.4,
          "end": 2529.52,
          "text": "more"
        },
        {
          "start": 2529.56,
          "end": 2529.64,
          "text": "and"
        },
        {
          "start": 2529.64,
          "end": 2529.8,
          "text": "more"
        },
        {
          "start": 2529.84,
          "end": 2530.12,
          "text": "money"
        },
        {
          "start": 2530.12,
          "end": 2530.4,
          "text": "flows"
        },
        {
          "start": 2530.44,
          "end": 2530.64,
          "text": "into"
        },
        {
          "start": 2530.64,
          "end": 2530.68,
          "text": "this"
        },
        {
          "start": 2530.72,
          "end": 2531.08,
          "text": "space."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2532.08,
          "end": 2532.4,
          "text": "Okay,"
        },
        {
          "start": 2532.76,
          "end": 2532.88,
          "text": "so"
        },
        {
          "start": 2532.96,
          "end": 2533.52,
          "text": "articulating"
        },
        {
          "start": 2533.56,
          "end": 2533.64,
          "text": "a"
        },
        {
          "start": 2533.68,
          "end": 2533.92,
          "text": "source"
        },
        {
          "start": 2533.92,
          "end": 2534.0,
          "text": "of"
        },
        {
          "start": 2534.0,
          "end": 2534.4,
          "text": "alpha,"
        },
        {
          "start": 2534.84,
          "end": 2535.0,
          "text": "that's"
        },
        {
          "start": 2535.0,
          "end": 2535.4,
          "text": "probably"
        },
        {
          "start": 2535.8,
          "end": 2535.84,
          "text": "the"
        },
        {
          "start": 2535.88,
          "end": 2536.28,
          "text": "biggest"
        },
        {
          "start": 2536.4,
          "end": 2536.72,
          "text": "question"
        },
        {
          "start": 2536.84,
          "end": 2537.0,
          "text": "there"
        },
        {
          "start": 2537.04,
          "end": 2537.2,
          "text": "is."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2537.12,
          "end": 2537.28,
          "text": "An"
        },
        {
          "start": 2537.28,
          "end": 2537.76,
          "text": "investing"
        },
        {
          "start": 2538.32,
          "end": 2538.4,
          "text": "for"
        },
        {
          "start": 2538.48,
          "end": 2538.68,
          "text": "hedge"
        },
        {
          "start": 2538.68,
          "end": 2538.96,
          "text": "funds."
        },
        {
          "start": 2539.08,
          "end": 2539.24,
          "text": "Can"
        },
        {
          "start": 2539.24,
          "end": 2539.32,
          "text": "I"
        },
        {
          "start": 2539.36,
          "end": 2539.52,
          "text": "cope"
        },
        {
          "start": 2539.56,
          "end": 2539.64,
          "text": "with"
        },
        {
          "start": 2539.64,
          "end": 2539.68,
          "text": "a"
        },
        {
          "start": 2539.72,
          "end": 2539.96,
          "text": "metric?"
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2540.0,
          "end": 2540.08,
          "text": "I"
        },
        {
          "start": 2540.12,
          "end": 2540.52,
          "text": "probably"
        },
        {
          "start": 2540.52,
          "end": 2540.76,
          "text": "could"
        },
        {
          "start": 2540.8,
          "end": 2540.88,
          "text": "in"
        },
        {
          "start": 2540.96,
          "end": 2541.24,
          "text": "terms"
        },
        {
          "start": 2541.24,
          "end": 2541.36,
          "text": "of"
        },
        {
          "start": 2541.4,
          "end": 2541.48,
          "text": "just"
        },
        {
          "start": 2541.56,
          "end": 2542.04,
          "text": "volatility"
        },
        {
          "start": 2542.04,
          "end": 2542.08,
          "text": "and"
        },
        {
          "start": 2542.16,
          "end": 2542.48,
          "text": "markets"
        },
        {
          "start": 2542.48,
          "end": 2542.84,
          "text": "extract,"
        },
        {
          "start": 2542.88,
          "end": 2542.96,
          "text": "you"
        },
        {
          "start": 2542.96,
          "end": 2543.04,
          "text": "know,"
        },
        {
          "start": 2543.24,
          "end": 2543.32,
          "text": "you"
        },
        {
          "start": 2543.32,
          "end": 2543.44,
          "text": "know,"
        },
        {
          "start": 2543.52,
          "end": 2543.8,
          "text": "alpha"
        },
        {
          "start": 2543.84,
          "end": 2544.24,
          "text": "extraction"
        },
        {
          "start": 2544.32,
          "end": 2544.48,
          "text": "from"
        },
        {
          "start": 2544.52,
          "end": 2544.68,
          "text": "that,"
        },
        {
          "start": 2545.28,
          "end": 2545.36,
          "text": "you"
        },
        {
          "start": 2545.4,
          "end": 2545.52,
          "text": "know,"
        },
        {
          "start": 2545.68,
          "end": 2545.76,
          "text": "I"
        },
        {
          "start": 2545.76,
          "end": 2545.96,
          "text": "mean"
        },
        {
          "start": 2546.2,
          "end": 2546.28,
          "text": "for"
        },
        {
          "start": 2546.4,
          "end": 2546.48,
          "text": "me"
        },
        {
          "start": 2546.68,
          "end": 2546.76,
          "text": "that"
        },
        {
          "start": 2546.76,
          "end": 2546.96,
          "text": "they're"
        },
        {
          "start": 2547.0,
          "end": 2547.12,
          "text": "kind"
        },
        {
          "start": 2547.12,
          "end": 2547.16,
          "text": "of"
        },
        {
          "start": 2547.2,
          "end": 2547.6,
          "text": "critical"
        },
        {
          "start": 2547.6,
          "end": 2547.8,
          "text": "things"
        },
        {
          "start": 2547.8,
          "end": 2547.92,
          "text": "in"
        },
        {
          "start": 2547.96,
          "end": 2548.12,
          "text": "terms"
        },
        {
          "start": 2548.16,
          "end": 2548.24,
          "text": "of"
        },
        {
          "start": 2548.28,
          "end": 2548.72,
          "text": "understanding"
        },
        {
          "start": 2549.04,
          "end": 2549.2,
          "text": "what"
        },
        {
          "start": 2549.24,
          "end": 2549.6,
          "text": "alpha"
        },
        {
          "start": 2549.72,
          "end": 2549.92,
          "text": "is."
        },
        {
          "start": 2549.92,
          "end": 2550.0,
          "text": "Is"
        },
        {
          "start": 2550.2,
          "end": 2550.4,
          "text": "most"
        },
        {
          "start": 2550.44,
          "end": 2550.48,
          "text": "of"
        },
        {
          "start": 2550.52,
          "end": 2550.6,
          "text": "the"
        },
        {
          "start": 2550.64,
          "end": 2550.92,
          "text": "time"
        },
        {
          "start": 2552.0,
          "end": 2552.12,
          "text": "in"
        },
        {
          "start": 2552.16,
          "end": 2552.44,
          "text": "most"
        },
        {
          "start": 2552.48,
          "end": 2552.96,
          "text": "markets"
        },
        {
          "start": 2553.12,
          "end": 2553.4,
          "text": "there's"
        },
        {
          "start": 2553.6,
          "end": 2553.72,
          "text": "a"
        },
        {
          "start": 2553.88,
          "end": 2554.2,
          "text": "large"
        },
        {
          "start": 2554.28,
          "end": 2554.56,
          "text": "number"
        },
        {
          "start": 2554.56,
          "end": 2554.6,
          "text": "of"
        },
        {
          "start": 2554.64,
          "end": 2554.96,
          "text": "people"
        },
        {
          "start": 2555.16,
          "end": 2555.24,
          "text": "with"
        },
        {
          "start": 2555.76,
          "end": 2556.12,
          "text": "different"
        },
        {
          "start": 2556.2,
          "end": 2556.8,
          "text": "mandates,"
        },
        {
          "start": 2556.96,
          "end": 2557.28,
          "text": "different"
        },
        {
          "start": 2557.32,
          "end": 2557.52,
          "text": "things"
        },
        {
          "start": 2557.52,
          "end": 2557.68,
          "text": "going"
        },
        {
          "start": 2557.72,
          "end": 2557.88,
          "text": "on"
        },
        {
          "start": 2557.92,
          "end": 2558.04,
          "text": "their"
        },
        {
          "start": 2558.12,
          "end": 2558.28,
          "text": "head,"
        },
        {
          "start": 2558.32,
          "end": 2558.64,
          "text": "different"
        },
        {
          "start": 2558.76,
          "end": 2558.96,
          "text": "things"
        },
        {
          "start": 2558.96,
          "end": 2559.08,
          "text": "going"
        },
        {
          "start": 2559.12,
          "end": 2559.16,
          "text": "on"
        },
        {
          "start": 2559.28,
          "end": 2559.4,
          "text": "their"
        },
        {
          "start": 2559.4,
          "end": 2560.04,
          "text": "institutions."
        },
        {
          "start": 2560.28,
          "end": 2560.48,
          "text": "As"
        },
        {
          "start": 2560.52,
          "end": 2560.76,
          "text": "long"
        },
        {
          "start": 2560.88,
          "end": 2561.28,
          "text": "as"
        },
        {
          "start": 2561.48,
          "end": 2561.68,
          "text": "there's"
        },
        {
          "start": 2561.68,
          "end": 2561.72,
          "text": "a"
        },
        {
          "start": 2561.72,
          "end": 2562.16,
          "text": "sufficient"
        },
        {
          "start": 2562.2,
          "end": 2562.96,
          "text": "ecosystem"
        },
        {
          "start": 2563.24,
          "end": 2563.36,
          "text": "of"
        },
        {
          "start": 2563.56,
          "end": 2563.8,
          "text": "time"
        },
        {
          "start": 2563.84,
          "end": 2564.4,
          "text": "horizons,"
        },
        {
          "start": 2564.8,
          "end": 2565.32,
          "text": "capital"
        },
        {
          "start": 2565.48,
          "end": 2566.08,
          "text": "constraints,"
        },
        {
          "start": 2566.4,
          "end": 2566.6,
          "text": "there's"
        },
        {
          "start": 2566.6,
          "end": 2566.88,
          "text": "always"
        },
        {
          "start": 2566.88,
          "end": 2566.96,
          "text": "going"
        },
        {
          "start": 2567.0,
          "end": 2567.08,
          "text": "to"
        },
        {
          "start": 2567.08,
          "end": 2567.12,
          "text": "be"
        },
        {
          "start": 2567.12,
          "end": 2567.16,
          "text": "the"
        },
        {
          "start": 2567.16,
          "end": 2567.76,
          "text": "alpha."
        },
        {
          "start": 2567.88,
          "end": 2568.0,
          "text": "And"
        },
        {
          "start": 2568.04,
          "end": 2568.12,
          "text": "the"
        },
        {
          "start": 2568.12,
          "end": 2568.52,
          "text": "interesting"
        },
        {
          "start": 2568.52,
          "end": 2568.68,
          "text": "thing"
        },
        {
          "start": 2568.68,
          "end": 2568.92,
          "text": "about"
        },
        {
          "start": 2569.04,
          "end": 2569.08,
          "text": "you"
        },
        {
          "start": 2569.12,
          "end": 2569.2,
          "text": "know,"
        },
        {
          "start": 2569.24,
          "end": 2569.52,
          "text": "certain"
        },
        {
          "start": 2569.56,
          "end": 2569.92,
          "text": "markets,"
        },
        {
          "start": 2569.92,
          "end": 2570.0,
          "text": "for"
        },
        {
          "start": 2570.04,
          "end": 2570.52,
          "text": "example,"
        },
        {
          "start": 2571.24,
          "end": 2571.32,
          "text": "is"
        },
        {
          "start": 2571.4,
          "end": 2571.48,
          "text": "like"
        },
        {
          "start": 2572.12,
          "end": 2572.6,
          "text": "alpha"
        },
        {
          "start": 2573.2,
          "end": 2573.28,
          "text": "and"
        },
        {
          "start": 2573.32,
          "end": 2573.4,
          "text": "this"
        },
        {
          "start": 2573.48,
          "end": 2573.64,
          "text": "may"
        },
        {
          "start": 2573.68,
          "end": 2573.96,
          "text": "sound"
        },
        {
          "start": 2573.96,
          "end": 2574.0,
          "text": "a"
        },
        {
          "start": 2574.04,
          "end": 2574.24,
          "text": "little"
        },
        {
          "start": 2574.24,
          "end": 2574.36,
          "text": "bit"
        },
        {
          "start": 2574.4,
          "end": 2574.44,
          "text": "of"
        },
        {
          "start": 2574.44,
          "end": 2575.16,
          "text": "philosophical,"
        },
        {
          "start": 2575.92,
          "end": 2576.4,
          "text": "alpha"
        },
        {
          "start": 2576.44,
          "end": 2576.72,
          "text": "can"
        },
        {
          "start": 2576.8,
          "end": 2577.04,
          "text": "be"
        },
        {
          "start": 2577.08,
          "end": 2577.4,
          "text": "something"
        },
        {
          "start": 2577.4,
          "end": 2577.6,
          "text": "other"
        },
        {
          "start": 2577.68,
          "end": 2577.8,
          "text": "than"
        },
        {
          "start": 2577.88,
          "end": 2578.2,
          "text": "money."
        },
        {
          "start": 2578.68,
          "end": 2578.92,
          "text": "For"
        },
        {
          "start": 2578.96,
          "end": 2579.36,
          "text": "example,"
        },
        {
          "start": 2579.36,
          "end": 2579.52,
          "text": "if"
        },
        {
          "start": 2579.52,
          "end": 2579.6,
          "text": "you"
        },
        {
          "start": 2579.6,
          "end": 2579.72,
          "text": "take"
        },
        {
          "start": 2579.76,
          "end": 2579.8,
          "text": "a"
        },
        {
          "start": 2579.8,
          "end": 2579.96,
          "text": "tap"
        },
        {
          "start": 2580.24,
          "end": 2580.48,
          "text": "simple"
        },
        {
          "start": 2580.52,
          "end": 2580.68,
          "text": "tail"
        },
        {
          "start": 2580.8,
          "end": 2581.0,
          "text": "edging"
        },
        {
          "start": 2581.04,
          "end": 2581.48,
          "text": "situation,"
        },
        {
          "start": 2581.76,
          "end": 2582.04,
          "text": "buying"
        },
        {
          "start": 2582.04,
          "end": 2582.32,
          "text": "puts"
        },
        {
          "start": 2582.32,
          "end": 2582.4,
          "text": "on"
        },
        {
          "start": 2582.4,
          "end": 2582.52,
          "text": "the"
        },
        {
          "start": 2582.6,
          "end": 2582.64,
          "text": "S"
        },
        {
          "start": 2582.72,
          "end": 2582.8,
          "text": "and"
        },
        {
          "start": 2582.8,
          "end": 2582.88,
          "text": "P,"
        },
        {
          "start": 2583.56,
          "end": 2583.76,
          "text": "right,"
        },
        {
          "start": 2584.24,
          "end": 2584.6,
          "text": "they're"
        },
        {
          "start": 2584.64,
          "end": 2585.32,
          "text": "notoriously"
        },
        {
          "start": 2585.4,
          "end": 2585.88,
          "text": "expensive,"
        },
        {
          "start": 2586.56,
          "end": 2586.8,
          "text": "right,"
        },
        {
          "start": 2586.88,
          "end": 2587.0,
          "text": "But"
        },
        {
          "start": 2587.36,
          "end": 2587.44,
          "text": "the"
        },
        {
          "start": 2587.52,
          "end": 2587.88,
          "text": "alpha"
        },
        {
          "start": 2587.92,
          "end": 2588.0,
          "text": "that"
        },
        {
          "start": 2588.0,
          "end": 2588.04,
          "text": "the"
        },
        {
          "start": 2588.08,
          "end": 2588.32,
          "text": "people"
        },
        {
          "start": 2588.32,
          "end": 2588.48,
          "text": "who"
        },
        {
          "start": 2588.48,
          "end": 2588.64,
          "text": "buy"
        },
        {
          "start": 2588.64,
          "end": 2588.92,
          "text": "puts"
        },
        {
          "start": 2588.92,
          "end": 2589.12,
          "text": "get"
        },
        {
          "start": 2589.16,
          "end": 2589.24,
          "text": "is"
        },
        {
          "start": 2589.24,
          "end": 2589.28,
          "text": "the"
        },
        {
          "start": 2589.36,
          "end": 2589.48,
          "text": "kind"
        },
        {
          "start": 2589.48,
          "end": 2589.56,
          "text": "of"
        },
        {
          "start": 2589.56,
          "end": 2589.6,
          "text": "the"
        },
        {
          "start": 2589.64,
          "end": 2589.92,
          "text": "alpha"
        },
        {
          "start": 2589.96,
          "end": 2590.04,
          "text": "of"
        },
        {
          "start": 2590.04,
          "end": 2590.12,
          "text": "a"
        },
        {
          "start": 2590.12,
          "end": 2590.36,
          "text": "peace"
        },
        {
          "start": 2590.36,
          "end": 2590.44,
          "text": "of"
        },
        {
          "start": 2590.48,
          "end": 2590.68,
          "text": "mind"
        },
        {
          "start": 2590.72,
          "end": 2590.8,
          "text": "for"
        },
        {
          "start": 2590.84,
          "end": 2590.92,
          "text": "the"
        },
        {
          "start": 2590.92,
          "end": 2591.08,
          "text": "rest"
        },
        {
          "start": 2591.08,
          "end": 2591.16,
          "text": "of"
        },
        {
          "start": 2591.16,
          "end": 2591.28,
          "text": "their"
        },
        {
          "start": 2591.28,
          "end": 2591.8,
          "text": "portfolio."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2592.36,
          "end": 2592.6,
          "text": "Right."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2592.68,
          "end": 2592.76,
          "text": "So"
        },
        {
          "start": 2593.32,
          "end": 2593.4,
          "text": "I"
        },
        {
          "start": 2593.4,
          "end": 2593.56,
          "text": "mean,"
        },
        {
          "start": 2593.56,
          "end": 2593.68,
          "text": "if"
        },
        {
          "start": 2593.72,
          "end": 2593.84,
          "text": "you're"
        },
        {
          "start": 2593.84,
          "end": 2593.88,
          "text": "a"
        },
        {
          "start": 2593.88,
          "end": 2594.08,
          "text": "hard"
        },
        {
          "start": 2594.16,
          "end": 2594.36,
          "text": "edged"
        },
        {
          "start": 2594.36,
          "end": 2594.44,
          "text": "to"
        },
        {
          "start": 2594.48,
          "end": 2594.72,
          "text": "hedge"
        },
        {
          "start": 2594.72,
          "end": 2595.0,
          "text": "funds,"
        },
        {
          "start": 2595.0,
          "end": 2595.2,
          "text": "you're"
        },
        {
          "start": 2595.28,
          "end": 2595.8,
          "text": "monetizing"
        },
        {
          "start": 2595.8,
          "end": 2595.84,
          "text": "the"
        },
        {
          "start": 2595.88,
          "end": 2596.2,
          "text": "alpha"
        },
        {
          "start": 2596.24,
          "end": 2596.36,
          "text": "by"
        },
        {
          "start": 2596.36,
          "end": 2596.48,
          "text": "doing"
        },
        {
          "start": 2596.52,
          "end": 2596.6,
          "text": "a"
        },
        {
          "start": 2596.6,
          "end": 2597.0,
          "text": "dispersion"
        },
        {
          "start": 2597.04,
          "end": 2597.4,
          "text": "trade."
        },
        {
          "start": 2597.52,
          "end": 2597.6,
          "text": "But"
        },
        {
          "start": 2597.8,
          "end": 2597.92,
          "text": "like"
        },
        {
          "start": 2597.96,
          "end": 2598.04,
          "text": "for"
        },
        {
          "start": 2598.12,
          "end": 2598.36,
          "text": "people"
        },
        {
          "start": 2598.36,
          "end": 2598.56,
          "text": "who"
        },
        {
          "start": 2598.56,
          "end": 2598.76,
          "text": "are"
        },
        {
          "start": 2598.92,
          "end": 2599.04,
          "text": "like"
        },
        {
          "start": 2599.24,
          "end": 2599.52,
          "text": "feel"
        },
        {
          "start": 2599.88,
          "end": 2600.04,
          "text": "can"
        },
        {
          "start": 2600.24,
          "end": 2600.36,
          "text": "they"
        },
        {
          "start": 2600.4,
          "end": 2600.52,
          "text": "can"
        },
        {
          "start": 2600.52,
          "end": 2600.76,
          "text": "sleep"
        },
        {
          "start": 2600.76,
          "end": 2600.88,
          "text": "at"
        },
        {
          "start": 2600.92,
          "end": 2601.08,
          "text": "night"
        },
        {
          "start": 2601.08,
          "end": 2601.24,
          "text": "by"
        },
        {
          "start": 2601.24,
          "end": 2601.52,
          "text": "buying"
        },
        {
          "start": 2601.52,
          "end": 2601.84,
          "text": "puts,"
        },
        {
          "start": 2602.48,
          "end": 2602.72,
          "text": "that's"
        },
        {
          "start": 2602.76,
          "end": 2603.24,
          "text": "fine."
        },
        {
          "start": 2603.44,
          "end": 2603.56,
          "text": "You"
        },
        {
          "start": 2603.56,
          "end": 2603.64,
          "text": "know"
        },
        {
          "start": 2603.64,
          "end": 2603.84,
          "text": "they're"
        },
        {
          "start": 2603.84,
          "end": 2604.04,
          "text": "taking"
        },
        {
          "start": 2604.08,
          "end": 2604.2,
          "text": "their"
        },
        {
          "start": 2604.2,
          "end": 2604.48,
          "text": "alpha"
        },
        {
          "start": 2604.48,
          "end": 2604.52,
          "text": "and"
        },
        {
          "start": 2604.6,
          "end": 2604.72,
          "text": "kind"
        },
        {
          "start": 2604.72,
          "end": 2604.8,
          "text": "of"
        },
        {
          "start": 2604.8,
          "end": 2604.96,
          "text": "non"
        },
        {
          "start": 2604.96,
          "end": 2605.36,
          "text": "manatory"
        },
        {
          "start": 2605.4,
          "end": 2605.96,
          "text": "form."
        },
        {
          "start": 2606.08,
          "end": 2606.24,
          "text": "Now"
        },
        {
          "start": 2606.48,
          "end": 2606.52,
          "text": "that"
        },
        {
          "start": 2606.88,
          "end": 2606.92,
          "text": "I"
        },
        {
          "start": 2607.0,
          "end": 2607.2,
          "text": "said"
        },
        {
          "start": 2607.2,
          "end": 2607.36,
          "text": "that's"
        },
        {
          "start": 2607.36,
          "end": 2608.0,
          "text": "philosophical."
        },
        {
          "start": 2608.12,
          "end": 2608.2,
          "text": "In"
        },
        {
          "start": 2608.24,
          "end": 2608.4,
          "text": "other"
        },
        {
          "start": 2608.48,
          "end": 2608.84,
          "text": "cases,"
        },
        {
          "start": 2609.04,
          "end": 2609.12,
          "text": "you"
        },
        {
          "start": 2609.16,
          "end": 2609.28,
          "text": "know,"
        },
        {
          "start": 2610.32,
          "end": 2610.4,
          "text": "the"
        },
        {
          "start": 2610.44,
          "end": 2610.68,
          "text": "hedge"
        },
        {
          "start": 2610.68,
          "end": 2610.88,
          "text": "fund"
        },
        {
          "start": 2610.92,
          "end": 2611.28,
          "text": "space,"
        },
        {
          "start": 2612.24,
          "end": 2612.44,
          "text": "they're"
        },
        {
          "start": 2612.44,
          "end": 2612.52,
          "text": "the"
        },
        {
          "start": 2612.52,
          "end": 2612.84,
          "text": "pushing"
        },
        {
          "start": 2612.84,
          "end": 2612.88,
          "text": "the"
        },
        {
          "start": 2612.92,
          "end": 2613.12,
          "text": "pull"
        },
        {
          "start": 2613.16,
          "end": 2613.32,
          "text": "going"
        },
        {
          "start": 2613.36,
          "end": 2613.44,
          "text": "on"
        },
        {
          "start": 2613.48,
          "end": 2613.64,
          "text": "here,"
        },
        {
          "start": 2613.72,
          "end": 2613.92,
          "text": "right,"
        },
        {
          "start": 2614.52,
          "end": 2614.64,
          "text": "And"
        },
        {
          "start": 2614.72,
          "end": 2614.8,
          "text": "so"
        },
        {
          "start": 2614.84,
          "end": 2614.92,
          "text": "you"
        },
        {
          "start": 2614.92,
          "end": 2615.08,
          "text": "talk"
        },
        {
          "start": 2615.08,
          "end": 2615.32,
          "text": "about"
        },
        {
          "start": 2615.36,
          "end": 2615.56,
          "text": "multi"
        },
        {
          "start": 2615.56,
          "end": 2616.2,
          "text": "strategies"
        },
        {
          "start": 2616.28,
          "end": 2616.48,
          "text": "hedge"
        },
        {
          "start": 2616.52,
          "end": 2616.76,
          "text": "funds,"
        },
        {
          "start": 2616.8,
          "end": 2616.88,
          "text": "but"
        },
        {
          "start": 2616.92,
          "end": 2617.12,
          "text": "they're"
        },
        {
          "start": 2617.16,
          "end": 2617.2,
          "text": "not"
        },
        {
          "start": 2617.24,
          "end": 2617.32,
          "text": "the"
        },
        {
          "start": 2617.32,
          "end": 2617.48,
          "text": "only"
        },
        {
          "start": 2617.52,
          "end": 2617.68,
          "text": "sort"
        },
        {
          "start": 2617.68,
          "end": 2617.76,
          "text": "of"
        },
        {
          "start": 2617.76,
          "end": 2617.96,
          "text": "hedge"
        },
        {
          "start": 2617.96,
          "end": 2618.72,
          "text": "funds"
        },
        {
          "start": 2618.52,
          "end": 2618.56,
          "text": "the"
        },
        {
          "start": 2618.8,
          "end": 2619.24,
          "text": "whole"
        },
        {
          "start": 2619.36,
          "end": 2619.6,
          "text": "set"
        },
        {
          "start": 2619.64,
          "end": 2619.72,
          "text": "of"
        },
        {
          "start": 2619.76,
          "end": 2619.96,
          "text": "other"
        },
        {
          "start": 2620.0,
          "end": 2620.28,
          "text": "hedge"
        },
        {
          "start": 2620.28,
          "end": 2620.6,
          "text": "funds"
        },
        {
          "start": 2620.6,
          "end": 2620.84,
          "text": "doing"
        },
        {
          "start": 2621.04,
          "end": 2621.28,
          "text": "other"
        },
        {
          "start": 2621.44,
          "end": 2621.76,
          "text": "things."
        },
        {
          "start": 2622.36,
          "end": 2622.52,
          "text": "And"
        },
        {
          "start": 2622.56,
          "end": 2622.64,
          "text": "so"
        },
        {
          "start": 2622.88,
          "end": 2622.96,
          "text": "you"
        },
        {
          "start": 2623.0,
          "end": 2623.08,
          "text": "know,"
        },
        {
          "start": 2623.12,
          "end": 2623.28,
          "text": "if"
        },
        {
          "start": 2623.28,
          "end": 2623.32,
          "text": "you"
        },
        {
          "start": 2623.44,
          "end": 2623.52,
          "text": "just"
        },
        {
          "start": 2623.8,
          "end": 2624.04,
          "text": "what's"
        },
        {
          "start": 2624.08,
          "end": 2624.2,
          "text": "been"
        },
        {
          "start": 2624.24,
          "end": 2624.56,
          "text": "happening,"
        },
        {
          "start": 2624.6,
          "end": 2624.64,
          "text": "and"
        },
        {
          "start": 2624.68,
          "end": 2624.8,
          "text": "that's"
        },
        {
          "start": 2624.8,
          "end": 2624.92,
          "text": "why"
        },
        {
          "start": 2624.96,
          "end": 2625.08,
          "text": "we're"
        },
        {
          "start": 2625.08,
          "end": 2625.24,
          "text": "talking"
        },
        {
          "start": 2625.28,
          "end": 2625.48,
          "text": "about"
        },
        {
          "start": 2625.52,
          "end": 2625.72,
          "text": "multi"
        },
        {
          "start": 2625.72,
          "end": 2626.04,
          "text": "strategy"
        },
        {
          "start": 2626.04,
          "end": 2626.24,
          "text": "hedge"
        },
        {
          "start": 2626.24,
          "end": 2626.44,
          "text": "funds."
        },
        {
          "start": 2626.48,
          "end": 2626.56,
          "text": "Is"
        },
        {
          "start": 2627.4,
          "end": 2627.84,
          "text": "broadly"
        },
        {
          "start": 2627.84,
          "end": 2628.28,
          "text": "speaking,"
        },
        {
          "start": 2628.6,
          "end": 2628.84,
          "text": "hedge"
        },
        {
          "start": 2628.84,
          "end": 2629.04,
          "text": "fund"
        },
        {
          "start": 2629.08,
          "end": 2629.52,
          "text": "investing"
        },
        {
          "start": 2629.64,
          "end": 2629.68,
          "text": "is"
        },
        {
          "start": 2629.72,
          "end": 2629.8,
          "text": "more"
        },
        {
          "start": 2629.92,
          "end": 2629.96,
          "text": "or"
        },
        {
          "start": 2630.0,
          "end": 2630.16,
          "text": "less"
        },
        {
          "start": 2630.16,
          "end": 2630.2,
          "text": "the"
        },
        {
          "start": 2630.24,
          "end": 2630.44,
          "text": "same"
        },
        {
          "start": 2630.48,
          "end": 2630.76,
          "text": "size"
        },
        {
          "start": 2631.04,
          "end": 2631.16,
          "text": "for"
        },
        {
          "start": 2631.4,
          "end": 2631.48,
          "text": "the"
        },
        {
          "start": 2631.48,
          "end": 2631.68,
          "text": "past"
        },
        {
          "start": 2631.76,
          "end": 2631.96,
          "text": "couple"
        },
        {
          "start": 2631.96,
          "end": 2632.0,
          "text": "of"
        },
        {
          "start": 2632.08,
          "end": 2632.36,
          "text": "years."
        },
        {
          "start": 2632.76,
          "end": 2632.84,
          "text": "But"
        },
        {
          "start": 2632.92,
          "end": 2632.96,
          "text": "this"
        },
        {
          "start": 2633.16,
          "end": 2633.4,
          "text": "share"
        },
        {
          "start": 2633.4,
          "end": 2633.44,
          "text": "of"
        },
        {
          "start": 2633.48,
          "end": 2633.72,
          "text": "multi"
        },
        {
          "start": 2633.72,
          "end": 2634.2,
          "text": "strategies"
        },
        {
          "start": 2634.2,
          "end": 2634.24,
          "text": "have"
        },
        {
          "start": 2634.32,
          "end": 2634.48,
          "text": "gone"
        },
        {
          "start": 2634.52,
          "end": 2634.64,
          "text": "up"
        },
        {
          "start": 2634.68,
          "end": 2635.0,
          "text": "because,"
        },
        {
          "start": 2635.0,
          "end": 2635.08,
          "text": "like"
        },
        {
          "start": 2635.12,
          "end": 2635.24,
          "text": "as"
        },
        {
          "start": 2635.28,
          "end": 2635.36,
          "text": "I"
        },
        {
          "start": 2635.4,
          "end": 2635.64,
          "text": "said,"
        },
        {
          "start": 2635.8,
          "end": 2635.92,
          "text": "they"
        },
        {
          "start": 2636.0,
          "end": 2636.16,
          "text": "kind"
        },
        {
          "start": 2636.16,
          "end": 2636.28,
          "text": "of"
        },
        {
          "start": 2636.28,
          "end": 2636.52,
          "text": "offer"
        },
        {
          "start": 2636.56,
          "end": 2636.6,
          "text": "a"
        },
        {
          "start": 2636.6,
          "end": 2636.88,
          "text": "pretty"
        },
        {
          "start": 2636.88,
          "end": 2637.04,
          "text": "good"
        },
        {
          "start": 2637.08,
          "end": 2637.24,
          "text": "deal"
        },
        {
          "start": 2637.28,
          "end": 2637.32,
          "text": "to"
        },
        {
          "start": 2637.36,
          "end": 2637.44,
          "text": "a"
        },
        {
          "start": 2637.44,
          "end": 2637.76,
          "text": "PM."
        },
        {
          "start": 2637.96,
          "end": 2638.04,
          "text": "You"
        },
        {
          "start": 2638.08,
          "end": 2638.16,
          "text": "know,"
        },
        {
          "start": 2638.16,
          "end": 2638.32,
          "text": "they"
        },
        {
          "start": 2638.32,
          "end": 2638.48,
          "text": "take"
        },
        {
          "start": 2638.48,
          "end": 2638.68,
          "text": "away"
        },
        {
          "start": 2638.68,
          "end": 2638.8,
          "text": "all"
        },
        {
          "start": 2638.8,
          "end": 2638.88,
          "text": "the"
        },
        {
          "start": 2638.88,
          "end": 2639.16,
          "text": "business"
        },
        {
          "start": 2639.24,
          "end": 2639.44,
          "text": "risks"
        },
        {
          "start": 2639.44,
          "end": 2639.48,
          "text": "that"
        },
        {
          "start": 2639.52,
          "end": 2639.64,
          "text": "they"
        },
        {
          "start": 2639.64,
          "end": 2639.68,
          "text": "have"
        },
        {
          "start": 2639.72,
          "end": 2639.8,
          "text": "to"
        },
        {
          "start": 2639.8,
          "end": 2639.96,
          "text": "deal"
        },
        {
          "start": 2640.04,
          "end": 2640.12,
          "text": "with."
        },
        {
          "start": 2640.24,
          "end": 2640.32,
          "text": "They"
        },
        {
          "start": 2640.32,
          "end": 2640.48,
          "text": "don't"
        },
        {
          "start": 2640.6,
          "end": 2640.76,
          "text": "talk"
        },
        {
          "start": 2640.8,
          "end": 2640.88,
          "text": "to"
        },
        {
          "start": 2640.92,
          "end": 2641.0,
          "text": "me,"
        },
        {
          "start": 2641.84,
          "end": 2641.92,
          "text": "you"
        },
        {
          "start": 2641.96,
          "end": 2642.08,
          "text": "know,"
        },
        {
          "start": 2642.32,
          "end": 2642.48,
          "text": "they"
        },
        {
          "start": 2642.56,
          "end": 2642.64,
          "text": "just"
        },
        {
          "start": 2642.64,
          "end": 2642.8,
          "text": "get"
        },
        {
          "start": 2642.84,
          "end": 2642.92,
          "text": "to"
        },
        {
          "start": 2642.96,
          "end": 2643.32,
          "text": "INVESTI"
        },
        {
          "start": 2643.36,
          "end": 2643.64,
          "text": "trade,"
        },
        {
          "start": 2645.44,
          "end": 2645.64,
          "text": "thank"
        },
        {
          "start": 2645.68,
          "end": 2645.84,
          "text": "you."
        },
        {
          "start": 2646.08,
          "end": 2646.16,
          "text": "But"
        },
        {
          "start": 2646.36,
          "end": 2646.44,
          "text": "you"
        },
        {
          "start": 2646.44,
          "end": 2646.52,
          "text": "know,"
        },
        {
          "start": 2646.56,
          "end": 2646.72,
          "text": "they"
        },
        {
          "start": 2646.76,
          "end": 2646.88,
          "text": "take"
        },
        {
          "start": 2646.92,
          "end": 2647.12,
          "text": "away"
        },
        {
          "start": 2647.16,
          "end": 2647.28,
          "text": "all"
        },
        {
          "start": 2647.28,
          "end": 2647.36,
          "text": "that"
        },
        {
          "start": 2647.4,
          "end": 2647.56,
          "text": "sort"
        },
        {
          "start": 2647.56,
          "end": 2647.6,
          "text": "of"
        },
        {
          "start": 2647.72,
          "end": 2647.88,
          "text": "risk,"
        },
        {
          "start": 2647.92,
          "end": 2648.0,
          "text": "and"
        },
        {
          "start": 2648.04,
          "end": 2648.12,
          "text": "so"
        },
        {
          "start": 2648.16,
          "end": 2648.24,
          "text": "the"
        },
        {
          "start": 2648.28,
          "end": 2648.68,
          "text": "pms"
        },
        {
          "start": 2648.72,
          "end": 2648.88,
          "text": "they"
        },
        {
          "start": 2648.92,
          "end": 2649.08,
          "text": "kind"
        },
        {
          "start": 2649.08,
          "end": 2649.16,
          "text": "of"
        },
        {
          "start": 2649.16,
          "end": 2649.2,
          "text": "have"
        },
        {
          "start": 2649.32,
          "end": 2649.4,
          "text": "a"
        },
        {
          "start": 2649.44,
          "end": 2649.8,
          "text": "different"
        },
        {
          "start": 2649.88,
          "end": 2650.16,
          "text": "maybe"
        },
        {
          "start": 2650.16,
          "end": 2650.4,
          "text": "better"
        },
        {
          "start": 2650.4,
          "end": 2650.6,
          "text": "life,"
        },
        {
          "start": 2650.6,
          "end": 2650.92,
          "text": "depending"
        },
        {
          "start": 2650.96,
          "end": 2651.0,
          "text": "on"
        },
        {
          "start": 2651.04,
          "end": 2651.12,
          "text": "what"
        },
        {
          "start": 2651.12,
          "end": 2651.24,
          "text": "their"
        },
        {
          "start": 2651.28,
          "end": 2651.72,
          "text": "admissions"
        },
        {
          "start": 2651.76,
          "end": 2651.84,
          "text": "are"
        },
        {
          "start": 2651.88,
          "end": 2651.96,
          "text": "and"
        },
        {
          "start": 2652.0,
          "end": 2652.36,
          "text": "stuff."
        },
        {
          "start": 2652.52,
          "end": 2652.64,
          "text": "And"
        },
        {
          "start": 2652.68,
          "end": 2652.8,
          "text": "as"
        },
        {
          "start": 2652.8,
          "end": 2652.84,
          "text": "I"
        },
        {
          "start": 2652.88,
          "end": 2653.08,
          "text": "said,"
        },
        {
          "start": 2653.08,
          "end": 2653.16,
          "text": "for"
        },
        {
          "start": 2653.24,
          "end": 2653.8,
          "text": "investors,"
        },
        {
          "start": 2654.4,
          "end": 2654.8,
          "text": "the"
        },
        {
          "start": 2654.92,
          "end": 2655.48,
          "text": "underlying"
        },
        {
          "start": 2656.64,
          "end": 2656.84,
          "text": "risk"
        },
        {
          "start": 2656.88,
          "end": 2657.12,
          "text": "taking"
        },
        {
          "start": 2657.16,
          "end": 2657.44,
          "text": "inside"
        },
        {
          "start": 2657.44,
          "end": 2657.52,
          "text": "of"
        },
        {
          "start": 2657.52,
          "end": 2657.56,
          "text": "a"
        },
        {
          "start": 2657.64,
          "end": 2657.84,
          "text": "multi"
        },
        {
          "start": 2657.88,
          "end": 2658.12,
          "text": "strat"
        },
        {
          "start": 2658.32,
          "end": 2658.52,
          "text": "makes"
        },
        {
          "start": 2658.52,
          "end": 2658.6,
          "text": "for"
        },
        {
          "start": 2658.6,
          "end": 2658.64,
          "text": "a"
        },
        {
          "start": 2658.72,
          "end": 2658.88,
          "text": "better"
        },
        {
          "start": 2658.96,
          "end": 2659.12,
          "text": "kind"
        },
        {
          "start": 2659.12,
          "end": 2659.2,
          "text": "of"
        },
        {
          "start": 2659.2,
          "end": 2659.44,
          "text": "return"
        },
        {
          "start": 2659.48,
          "end": 2659.52,
          "text": "and"
        },
        {
          "start": 2659.56,
          "end": 2659.72,
          "text": "level"
        },
        {
          "start": 2659.76,
          "end": 2659.84,
          "text": "at"
        },
        {
          "start": 2659.88,
          "end": 2659.92,
          "text": "the"
        },
        {
          "start": 2659.92,
          "end": 2660.08,
          "text": "top"
        },
        {
          "start": 2660.16,
          "end": 2660.64,
          "text": "level."
        },
        {
          "start": 2660.84,
          "end": 2660.92,
          "text": "You"
        },
        {
          "start": 2660.92,
          "end": 2661.0,
          "text": "know,"
        },
        {
          "start": 2661.16,
          "end": 2661.24,
          "text": "I"
        },
        {
          "start": 2661.24,
          "end": 2661.48,
          "text": "think"
        },
        {
          "start": 2661.56,
          "end": 2661.72,
          "text": "this"
        },
        {
          "start": 2661.76,
          "end": 2661.96,
          "text": "will"
        },
        {
          "start": 2662.0,
          "end": 2662.44,
          "text": "reverse,"
        },
        {
          "start": 2662.72,
          "end": 2662.8,
          "text": "you"
        },
        {
          "start": 2662.8,
          "end": 2662.88,
          "text": "know,"
        },
        {
          "start": 2662.92,
          "end": 2663.12,
          "text": "over"
        },
        {
          "start": 2663.16,
          "end": 2663.4,
          "text": "time,"
        },
        {
          "start": 2663.44,
          "end": 2663.56,
          "text": "but"
        },
        {
          "start": 2663.6,
          "end": 2663.72,
          "text": "like"
        },
        {
          "start": 2663.72,
          "end": 2663.8,
          "text": "for"
        },
        {
          "start": 2663.88,
          "end": 2663.96,
          "text": "the"
        },
        {
          "start": 2663.96,
          "end": 2664.24,
          "text": "moment,"
        },
        {
          "start": 2664.36,
          "end": 2664.44,
          "text": "like"
        },
        {
          "start": 2664.88,
          "end": 2665.56,
          "text": "multistrats,"
        },
        {
          "start": 2665.6,
          "end": 2665.68,
          "text": "and"
        },
        {
          "start": 2665.72,
          "end": 2665.8,
          "text": "you"
        },
        {
          "start": 2665.8,
          "end": 2665.96,
          "text": "ask"
        },
        {
          "start": 2666.0,
          "end": 2666.24,
          "text": "about"
        },
        {
          "start": 2666.24,
          "end": 2666.36,
          "text": "how"
        },
        {
          "start": 2666.4,
          "end": 2666.6,
          "text": "big"
        },
        {
          "start": 2666.64,
          "end": 2667.04,
          "text": "individual"
        },
        {
          "start": 2667.12,
          "end": 2667.32,
          "text": "multi"
        },
        {
          "start": 2667.32,
          "end": 2667.56,
          "text": "strats"
        },
        {
          "start": 2667.6,
          "end": 2667.72,
          "text": "can"
        },
        {
          "start": 2667.8,
          "end": 2667.96,
          "text": "get"
        },
        {
          "start": 2667.96,
          "end": 2668.0,
          "text": "it"
        },
        {
          "start": 2668.04,
          "end": 2668.16,
          "text": "as"
        },
        {
          "start": 2668.16,
          "end": 2668.32,
          "text": "well,"
        },
        {
          "start": 2668.32,
          "end": 2668.52,
          "text": "which"
        },
        {
          "start": 2668.56,
          "end": 2668.6,
          "text": "is"
        },
        {
          "start": 2668.64,
          "end": 2668.72,
          "text": "an"
        },
        {
          "start": 2668.8,
          "end": 2669.16,
          "text": "interesting"
        },
        {
          "start": 2669.24,
          "end": 2669.52,
          "text": "question."
        },
        {
          "start": 2669.6,
          "end": 2670.24,
          "text": "Empirically,"
        },
        {
          "start": 2670.52,
          "end": 2670.72,
          "text": "kap"
        },
        {
          "start": 2670.8,
          "end": 2670.84,
          "text": "is"
        },
        {
          "start": 2670.84,
          "end": 2671.12,
          "text": "around"
        },
        {
          "start": 2671.16,
          "end": 2671.4,
          "text": "fifty"
        },
        {
          "start": 2671.64,
          "end": 2671.92,
          "text": "fifty"
        },
        {
          "start": 2671.92,
          "end": 2672.04,
          "text": "to"
        },
        {
          "start": 2672.04,
          "end": 2672.36,
          "text": "seventy"
        },
        {
          "start": 2672.36,
          "end": 2672.6,
          "text": "billion"
        },
        {
          "start": 2672.64,
          "end": 2672.96,
          "text": "dollars"
        },
        {
          "start": 2673.4,
          "end": 2673.56,
          "text": "right"
        },
        {
          "start": 2673.6,
          "end": 2673.8,
          "text": "now"
        },
        {
          "start": 2674.12,
          "end": 2674.2,
          "text": "you"
        },
        {
          "start": 2674.24,
          "end": 2674.36,
          "text": "know,"
        },
        {
          "start": 2674.64,
          "end": 2674.88,
          "text": "whether"
        },
        {
          "start": 2674.92,
          "end": 2675.12,
          "text": "that's"
        },
        {
          "start": 2675.16,
          "end": 2675.48,
          "text": "liquidit"
        },
        {
          "start": 2675.56,
          "end": 2675.6,
          "text": "in"
        },
        {
          "start": 2675.68,
          "end": 2676.04,
          "text": "markets,"
        },
        {
          "start": 2676.04,
          "end": 2676.32,
          "text": "whether"
        },
        {
          "start": 2676.36,
          "end": 2676.56,
          "text": "that's"
        },
        {
          "start": 2676.8,
          "end": 2677.08,
          "text": "share"
        },
        {
          "start": 2677.12,
          "end": 2677.2,
          "text": "of"
        },
        {
          "start": 2677.2,
          "end": 2677.44,
          "text": "Wall"
        },
        {
          "start": 2677.44,
          "end": 2677.84,
          "text": "Street's"
        },
        {
          "start": 2678.24,
          "end": 2678.56,
          "text": "bank's"
        },
        {
          "start": 2678.6,
          "end": 2678.96,
          "text": "credit"
        },
        {
          "start": 2679.56,
          "end": 2679.84,
          "text": "book,"
        },
        {
          "start": 2680.48,
          "end": 2680.56,
          "text": "you"
        },
        {
          "start": 2680.6,
          "end": 2680.76,
          "text": "know"
        },
        {
          "start": 2681.0,
          "end": 2681.28,
          "text": "that's"
        },
        {
          "start": 2681.48,
          "end": 2681.52,
          "text": "or"
        },
        {
          "start": 2681.56,
          "end": 2681.72,
          "text": "where"
        },
        {
          "start": 2681.72,
          "end": 2681.88,
          "text": "it's"
        },
        {
          "start": 2681.88,
          "end": 2681.92,
          "text": "just"
        },
        {
          "start": 2682.04,
          "end": 2682.56,
          "text": "organizational"
        },
        {
          "start": 2682.56,
          "end": 2682.84,
          "text": "sites"
        },
        {
          "start": 2682.88,
          "end": 2683.12,
          "text": "because"
        },
        {
          "start": 2683.16,
          "end": 2683.24,
          "text": "you"
        },
        {
          "start": 2683.24,
          "end": 2683.32,
          "text": "know"
        },
        {
          "start": 2683.52,
          "end": 2683.72,
          "text": "they're"
        },
        {
          "start": 2683.76,
          "end": 2683.92,
          "text": "hard"
        },
        {
          "start": 2684.0,
          "end": 2684.08,
          "text": "to"
        },
        {
          "start": 2684.08,
          "end": 2684.48,
          "text": "manage,"
        },
        {
          "start": 2685.2,
          "end": 2685.28,
          "text": "you"
        },
        {
          "start": 2685.32,
          "end": 2685.4,
          "text": "know,"
        },
        {
          "start": 2685.84,
          "end": 2686.36,
          "text": "hundreds"
        },
        {
          "start": 2686.4,
          "end": 2686.48,
          "text": "of"
        },
        {
          "start": 2686.48,
          "end": 2686.96,
          "text": "pms"
        },
        {
          "start": 2687.04,
          "end": 2687.2,
          "text": "right,"
        },
        {
          "start": 2687.44,
          "end": 2687.96,
          "text": "physically"
        },
        {
          "start": 2688.0,
          "end": 2688.08,
          "text": "and"
        },
        {
          "start": 2688.16,
          "end": 2688.76,
          "text": "mathematically"
        },
        {
          "start": 2688.76,
          "end": 2689.04,
          "text": "different"
        },
        {
          "start": 2689.08,
          "end": 2689.12,
          "text": "to"
        },
        {
          "start": 2689.16,
          "end": 2689.24,
          "text": "do"
        },
        {
          "start": 2689.28,
          "end": 2689.6,
          "text": "that."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2690.24,
          "end": 2690.32,
          "text": "Is"
        },
        {
          "start": 2690.4,
          "end": 2690.68,
          "text": "prime"
        },
        {
          "start": 2690.76,
          "end": 2691.28,
          "text": "brokerage"
        },
        {
          "start": 2691.28,
          "end": 2691.36,
          "text": "a"
        },
        {
          "start": 2691.44,
          "end": 2691.84,
          "text": "factor"
        },
        {
          "start": 2692.04,
          "end": 2692.24,
          "text": "as"
        },
        {
          "start": 2692.24,
          "end": 2692.52,
          "text": "well,"
        },
        {
          "start": 2692.56,
          "end": 2692.84,
          "text": "because"
        },
        {
          "start": 2692.84,
          "end": 2692.96,
          "text": "I"
        },
        {
          "start": 2692.96,
          "end": 2693.44,
          "text": "imagine,"
        },
        {
          "start": 2693.52,
          "end": 2693.6,
          "text": "you"
        },
        {
          "start": 2693.6,
          "end": 2693.72,
          "text": "know,"
        },
        {
          "start": 2693.8,
          "end": 2693.96,
          "text": "if"
        },
        {
          "start": 2693.96,
          "end": 2694.04,
          "text": "you"
        },
        {
          "start": 2694.08,
          "end": 2694.16,
          "text": "have"
        },
        {
          "start": 2694.2,
          "end": 2694.24,
          "text": "a"
        },
        {
          "start": 2694.32,
          "end": 2694.56,
          "text": "multi"
        },
        {
          "start": 2694.64,
          "end": 2694.88,
          "text": "strat"
        },
        {
          "start": 2694.96,
          "end": 2695.04,
          "text": "that"
        },
        {
          "start": 2695.12,
          "end": 2695.52,
          "text": "suddenly"
        },
        {
          "start": 2695.56,
          "end": 2696.0,
          "text": "becomes"
        },
        {
          "start": 2696.28,
          "end": 2696.4,
          "text": "as"
        },
        {
          "start": 2696.48,
          "end": 2696.64,
          "text": "big"
        },
        {
          "start": 2696.68,
          "end": 2696.76,
          "text": "as"
        },
        {
          "start": 2696.88,
          "end": 2697.12,
          "text": "JP"
        },
        {
          "start": 2697.24,
          "end": 2697.56,
          "text": "Morgan"
        },
        {
          "start": 2697.68,
          "end": 2697.76,
          "text": "or"
        },
        {
          "start": 2697.8,
          "end": 2698.12,
          "text": "something"
        },
        {
          "start": 2698.64,
          "end": 2698.8,
          "text": "that's"
        },
        {
          "start": 2698.88,
          "end": 2699.64,
          "text": "unrealistic,"
        },
        {
          "start": 2699.68,
          "end": 2699.76,
          "text": "but"
        },
        {
          "start": 2699.84,
          "end": 2699.96,
          "text": "just"
        },
        {
          "start": 2700.08,
          "end": 2700.2,
          "text": "as"
        },
        {
          "start": 2700.24,
          "end": 2700.32,
          "text": "an"
        },
        {
          "start": 2700.4,
          "end": 2700.76,
          "text": "extreme"
        },
        {
          "start": 2700.8,
          "end": 2701.28,
          "text": "example,"
        },
        {
          "start": 2701.52,
          "end": 2701.72,
          "text": "I"
        },
        {
          "start": 2701.8,
          "end": 2702.04,
          "text": "can't"
        },
        {
          "start": 2702.12,
          "end": 2702.6,
          "text": "imagine"
        },
        {
          "start": 2702.6,
          "end": 2702.68,
          "text": "the"
        },
        {
          "start": 2702.76,
          "end": 2703.04,
          "text": "prime"
        },
        {
          "start": 2703.08,
          "end": 2704.36,
          "text": "brokers."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2704.36,
          "end": 2704.52,
          "text": "Are"
        },
        {
          "start": 2704.56,
          "end": 2704.64,
          "text": "going"
        },
        {
          "start": 2704.72,
          "end": 2704.76,
          "text": "to"
        },
        {
          "start": 2704.8,
          "end": 2704.88,
          "text": "be"
        },
        {
          "start": 2704.88,
          "end": 2705.16,
          "text": "okay"
        },
        {
          "start": 2705.2,
          "end": 2705.28,
          "text": "with"
        },
        {
          "start": 2705.36,
          "end": 2705.44,
          "text": "that,"
        },
        {
          "start": 2706.16,
          "end": 2706.28,
          "text": "with"
        },
        {
          "start": 2706.32,
          "end": 2706.4,
          "text": "what"
        },
        {
          "start": 2706.64,
          "end": 2707.44,
          "text": "exactly."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2707.36,
          "end": 2707.44,
          "text": "With"
        },
        {
          "start": 2707.56,
          "end": 2707.76,
          "text": "the"
        },
        {
          "start": 2707.8,
          "end": 2708.24,
          "text": "size"
        },
        {
          "start": 2708.4,
          "end": 2708.52,
          "text": "and"
        },
        {
          "start": 2708.56,
          "end": 2708.68,
          "text": "the"
        },
        {
          "start": 2708.8,
          "end": 2709.08,
          "text": "risk"
        },
        {
          "start": 2709.36,
          "end": 2709.44,
          "text": "of"
        },
        {
          "start": 2709.76,
          "end": 2709.88,
          "text": "a"
        },
        {
          "start": 2710.24,
          "end": 2710.72,
          "text": "giant"
        },
        {
          "start": 2710.92,
          "end": 2711.24,
          "text": "multi"
        },
        {
          "start": 2711.36,
          "end": 2711.44,
          "text": "of"
        },
        {
          "start": 2711.52,
          "end": 2711.76,
          "text": "having"
        },
        {
          "start": 2711.76,
          "end": 2711.84,
          "text": "a"
        },
        {
          "start": 2711.88,
          "end": 2712.48,
          "text": "relationship"
        },
        {
          "start": 2712.48,
          "end": 2712.56,
          "text": "with"
        },
        {
          "start": 2712.6,
          "end": 2712.68,
          "text": "a"
        },
        {
          "start": 2712.76,
          "end": 2713.08,
          "text": "giant"
        },
        {
          "start": 2713.12,
          "end": 2713.44,
          "text": "multi"
        },
        {
          "start": 2713.44,
          "end": 2714.08,
          "text": "strat."
        }
      ]
    },
    {
      "speaker": 5,
      "words": [
        {
          "start": 2714.6,
          "end": 2714.8,
          "text": "They"
        },
        {
          "start": 2715.08,
          "end": 2715.36,
          "text": "would"
        },
        {
          "start": 2715.4,
          "end": 2715.44,
          "text": "not"
        },
        {
          "start": 2715.84,
          "end": 2716.04,
          "text": "love"
        },
        {
          "start": 2716.08,
          "end": 2716.24,
          "text": "it"
        },
        {
          "start": 2716.52,
          "end": 2717.0,
          "text": "because"
        },
        {
          "start": 2717.28,
          "end": 2717.36,
          "text": "you"
        },
        {
          "start": 2717.4,
          "end": 2717.48,
          "text": "know"
        },
        {
          "start": 2717.52,
          "end": 2717.56,
          "text": "it"
        },
        {
          "start": 2717.72,
          "end": 2717.84,
          "text": "just"
        },
        {
          "start": 2717.88,
          "end": 2718.08,
          "text": "put"
        },
        {
          "start": 2718.12,
          "end": 2718.28,
          "text": "it's"
        },
        {
          "start": 2718.6,
          "end": 2718.68,
          "text": "this"
        },
        {
          "start": 2718.84,
          "end": 2719.2,
          "text": "famous"
        },
        {
          "start": 2719.24,
          "end": 2719.52,
          "text": "story."
        },
        {
          "start": 2719.56,
          "end": 2719.68,
          "text": "If"
        },
        {
          "start": 2719.68,
          "end": 2719.72,
          "text": "a"
        },
        {
          "start": 2719.76,
          "end": 2719.92,
          "text": "few"
        },
        {
          "start": 2720.04,
          "end": 2720.16,
          "text": "ten"
        },
        {
          "start": 2720.2,
          "end": 2720.44,
          "text": "dollars"
        },
        {
          "start": 2720.48,
          "end": 2720.52,
          "text": "to"
        },
        {
          "start": 2720.56,
          "end": 2720.64,
          "text": "the"
        },
        {
          "start": 2720.64,
          "end": 2720.8,
          "text": "bank,"
        },
        {
          "start": 2720.84,
          "end": 2720.96,
          "text": "it's"
        },
        {
          "start": 2721.0,
          "end": 2721.12,
          "text": "your"
        },
        {
          "start": 2721.16,
          "end": 2721.44,
          "text": "problem."
        },
        {
          "start": 2721.52,
          "end": 2721.72,
          "text": "Yeah,"
        },
        {
          "start": 2721.84,
          "end": 2722.12,
          "text": "billion"
        },
        {
          "start": 2722.16,
          "end": 2722.44,
          "text": "dollars"
        },
        {
          "start": 2722.48,
          "end": 2722.52,
          "text": "the"
        },
        {
          "start": 2722.56,
          "end": 2722.72,
          "text": "bank,"
        },
        {
          "start": 2722.76,
          "end": 2722.88,
          "text": "it's"
        },
        {
          "start": 2722.92,
          "end": 2723.04,
          "text": "their"
        },
        {
          "start": 2723.08,
          "end": 2723.44,
          "text": "problem."
        },
        {
          "start": 2723.64,
          "end": 2723.76,
          "text": "So"
        },
        {
          "start": 2724.08,
          "end": 2724.16,
          "text": "you"
        },
        {
          "start": 2724.2,
          "end": 2724.32,
          "text": "know,"
        },
        {
          "start": 2724.84,
          "end": 2725.2,
          "text": "banks"
        },
        {
          "start": 2725.24,
          "end": 2725.56,
          "text": "across"
        },
        {
          "start": 2725.6,
          "end": 2725.68,
          "text": "the"
        },
        {
          "start": 2725.68,
          "end": 2726.0,
          "text": "world"
        },
        {
          "start": 2726.16,
          "end": 2726.56,
          "text": "avoid"
        },
        {
          "start": 2726.88,
          "end": 2727.08,
          "text": "try"
        },
        {
          "start": 2727.12,
          "end": 2727.2,
          "text": "to"
        },
        {
          "start": 2727.2,
          "end": 2727.56,
          "text": "avoid"
        },
        {
          "start": 2727.56,
          "end": 2727.76,
          "text": "having"
        },
        {
          "start": 2727.76,
          "end": 2728.28,
          "text": "customers"
        },
        {
          "start": 2728.28,
          "end": 2728.36,
          "text": "so"
        },
        {
          "start": 2728.48,
          "end": 2728.76,
          "text": "large"
        },
        {
          "start": 2728.76,
          "end": 2728.84,
          "text": "that"
        },
        {
          "start": 2728.88,
          "end": 2729.04,
          "text": "they"
        },
        {
          "start": 2729.12,
          "end": 2729.2,
          "text": "it"
        },
        {
          "start": 2729.28,
          "end": 2729.56,
          "text": "becomes"
        },
        {
          "start": 2729.56,
          "end": 2729.72,
          "text": "their"
        },
        {
          "start": 2729.76,
          "end": 2730.48,
          "text": "problem."
        }
      ]
    },
    {
      "speaker": 4,
      "words": [
        {
          "start": 2730.68,
          "end": 2730.76,
          "text": "So"
        },
        {
          "start": 2731.6,
          "end": 2731.88,
          "text": "yes,"
        },
        {
          "start": 2732.04,
          "end": 2732.08,
          "text": "the"
        },
        {
          "start": 2732.12,
          "end": 2732.48,
          "text": "answer"
        },
        {
          "start": 2732.48,
          "end": 2732.52,
          "text": "is"
        },
        {
          "start": 2732.6,
          "end": 2732.72,
          "text": "yes."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2733.2,
          "end": 2733.48,
          "text": "Ronan"
        },
        {
          "start": 2733.56,
          "end": 2734.04,
          "text": "Cosgrave,"
        },
        {
          "start": 2734.16,
          "end": 2734.36,
          "text": "thank"
        },
        {
          "start": 2734.4,
          "end": 2734.48,
          "text": "you"
        },
        {
          "start": 2734.52,
          "end": 2734.6,
          "text": "so"
        },
        {
          "start": 2734.72,
          "end": 2734.88,
          "text": "much"
        },
        {
          "start": 2734.92,
          "end": 2735.0,
          "text": "for"
        },
        {
          "start": 2735.16,
          "end": 2735.44,
          "text": "coming"
        },
        {
          "start": 2735.48,
          "end": 2735.56,
          "text": "on"
        },
        {
          "start": 2735.64,
          "end": 2735.76,
          "text": "all"
        },
        {
          "start": 2735.8,
          "end": 2736.16,
          "text": "thoughts"
        },
        {
          "start": 2736.2,
          "end": 2736.28,
          "text": "and"
        },
        {
          "start": 2736.44,
          "end": 2736.96,
          "text": "explaining"
        },
        {
          "start": 2737.0,
          "end": 2737.08,
          "text": "to"
        },
        {
          "start": 2737.2,
          "end": 2737.36,
          "text": "us"
        },
        {
          "start": 2737.36,
          "end": 2737.6,
          "text": "why"
        },
        {
          "start": 2737.64,
          "end": 2737.88,
          "text": "comp"
        },
        {
          "start": 2738.04,
          "end": 2738.12,
          "text": "is"
        },
        {
          "start": 2738.16,
          "end": 2738.64,
          "text": "important."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2738.8,
          "end": 2738.88,
          "text": "That"
        },
        {
          "start": 2739.0,
          "end": 2739.08,
          "text": "was"
        },
        {
          "start": 2739.08,
          "end": 2739.68,
          "text": "fantastic"
        },
        {
          "start": 2739.88,
          "end": 2740.08,
          "text": "come"
        },
        {
          "start": 2740.12,
          "end": 2740.32,
          "text": "back"
        },
        {
          "start": 2740.32,
          "end": 2740.4,
          "text": "on"
        },
        {
          "start": 2740.48,
          "end": 2740.52,
          "text": "the"
        },
        {
          "start": 2740.56,
          "end": 2741.04,
          "text": "podcast"
        },
        {
          "start": 2741.04,
          "end": 2741.28,
          "text": "again"
        },
        {
          "start": 2741.64,
          "end": 2741.72,
          "text": "for"
        },
        {
          "start": 2741.76,
          "end": 2741.8,
          "text": "a"
        },
        {
          "start": 2741.84,
          "end": 2742.12,
          "text": "further"
        },
        {
          "start": 2742.2,
          "end": 2742.72,
          "text": "conversation."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2742.88,
          "end": 2742.96,
          "text": "But"
        },
        {
          "start": 2743.04,
          "end": 2743.24,
          "text": "that's"
        },
        {
          "start": 2743.24,
          "end": 2743.56,
          "text": "great,"
        },
        {
          "start": 2743.56,
          "end": 2743.88,
          "text": "Thank."
        }
      ]
    },
    {
      "speaker": 7,
      "words": [
        {
          "start": 2743.76,
          "end": 2743.84,
          "text": "You"
        },
        {
          "start": 2743.84,
          "end": 2752.56,
          "text": "guys,"
        },
        {
          "start": 2744.08,
          "end": 2757.24,
          "text": "Joe."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2757.32,
          "end": 2757.4,
          "text": "That"
        },
        {
          "start": 2757.52,
          "end": 2757.6,
          "text": "was"
        },
        {
          "start": 2757.68,
          "end": 2757.96,
          "text": "fun."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 2758.16,
          "end": 2758.24,
          "text": "That"
        },
        {
          "start": 2758.32,
          "end": 2758.4,
          "text": "was"
        },
        {
          "start": 2758.44,
          "end": 2758.72,
          "text": "great."
        },
        {
          "start": 2758.8,
          "end": 2759.04,
          "text": "Yeah."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2759.08,
          "end": 2759.16,
          "text": "I"
        },
        {
          "start": 2759.32,
          "end": 2759.36,
          "text": "like"
        },
        {
          "start": 2759.48,
          "end": 2759.8,
          "text": "digging"
        },
        {
          "start": 2759.8,
          "end": 2759.88,
          "text": "in"
        },
        {
          "start": 2760.04,
          "end": 2760.12,
          "text": "to"
        },
        {
          "start": 2760.16,
          "end": 2760.24,
          "text": "the"
        },
        {
          "start": 2760.24,
          "end": 2760.64,
          "text": "business"
        },
        {
          "start": 2760.64,
          "end": 2761.0,
          "text": "model"
        },
        {
          "start": 2761.12,
          "end": 2761.24,
          "text": "of"
        },
        {
          "start": 2761.28,
          "end": 2761.52,
          "text": "these"
        },
        {
          "start": 2761.52,
          "end": 2761.88,
          "text": "things."
        },
        {
          "start": 2762.16,
          "end": 2762.36,
          "text": "One"
        },
        {
          "start": 2762.4,
          "end": 2762.56,
          "text": "thing"
        },
        {
          "start": 2762.8,
          "end": 2762.88,
          "text": "I"
        },
        {
          "start": 2763.04,
          "end": 2763.44,
          "text": "hadn't"
        },
        {
          "start": 2763.64,
          "end": 2763.84,
          "text": "come"
        },
        {
          "start": 2763.88,
          "end": 2764.0,
          "text": "to"
        },
        {
          "start": 2764.04,
          "end": 2764.64,
          "text": "appreciate"
        },
        {
          "start": 2765.04,
          "end": 2765.16,
          "text": "is"
        },
        {
          "start": 2765.36,
          "end": 2765.44,
          "text": "the"
        },
        {
          "start": 2765.52,
          "end": 2765.96,
          "text": "idea"
        },
        {
          "start": 2766.12,
          "end": 2766.36,
          "text": "of"
        },
        {
          "start": 2766.44,
          "end": 2766.6,
          "text": "how"
        },
        {
          "start": 2766.64,
          "end": 2767.12,
          "text": "difficult"
        },
        {
          "start": 2767.16,
          "end": 2767.24,
          "text": "it"
        },
        {
          "start": 2767.32,
          "end": 2767.48,
          "text": "might"
        },
        {
          "start": 2767.52,
          "end": 2767.6,
          "text": "be"
        },
        {
          "start": 2767.72,
          "end": 2767.8,
          "text": "to"
        },
        {
          "start": 2767.88,
          "end": 2768.32,
          "text": "actually"
        },
        {
          "start": 2768.64,
          "end": 2768.88,
          "text": "move"
        },
        {
          "start": 2768.92,
          "end": 2769.24,
          "text": "around"
        },
        {
          "start": 2769.32,
          "end": 2769.72,
          "text": "capital"
        },
        {
          "start": 2769.92,
          "end": 2770.32,
          "text": "because"
        },
        {
          "start": 2770.56,
          "end": 2770.68,
          "text": "no"
        },
        {
          "start": 2770.68,
          "end": 2770.88,
          "text": "one"
        },
        {
          "start": 2770.92,
          "end": 2771.2,
          "text": "wants"
        },
        {
          "start": 2771.24,
          "end": 2771.36,
          "text": "to"
        },
        {
          "start": 2771.4,
          "end": 2771.48,
          "text": "be"
        },
        {
          "start": 2771.68,
          "end": 2772.16,
          "text": "firing"
        },
        {
          "start": 2772.36,
          "end": 2773.04,
          "text": "pms"
        },
        {
          "start": 2773.12,
          "end": 2773.24,
          "text": "that"
        },
        {
          "start": 2773.32,
          "end": 2773.4,
          "text": "you"
        },
        {
          "start": 2773.52,
          "end": 2773.88,
          "text": "fought"
        },
        {
          "start": 2773.92,
          "end": 2774.0,
          "text": "like"
        },
        {
          "start": 2774.16,
          "end": 2774.44,
          "text": "tooth"
        },
        {
          "start": 2774.48,
          "end": 2774.52,
          "text": "and"
        },
        {
          "start": 2774.64,
          "end": 2774.92,
          "text": "nail"
        },
        {
          "start": 2775.08,
          "end": 2775.16,
          "text": "to"
        },
        {
          "start": 2775.28,
          "end": 2775.64,
          "text": "actually"
        },
        {
          "start": 2775.72,
          "end": 2776.0,
          "text": "hire"
        },
        {
          "start": 2776.08,
          "end": 2776.16,
          "text": "in"
        },
        {
          "start": 2776.2,
          "end": 2776.24,
          "text": "a"
        },
        {
          "start": 2776.28,
          "end": 2776.8,
          "text": "competitive"
        },
        {
          "start": 2776.88,
          "end": 2777.32,
          "text": "environment."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2777.8,
          "end": 2777.88,
          "text": "I"
        },
        {
          "start": 2777.92,
          "end": 2778.08,
          "text": "mean,"
        },
        {
          "start": 2778.24,
          "end": 2778.36,
          "text": "so"
        },
        {
          "start": 2778.4,
          "end": 2778.52,
          "text": "this"
        },
        {
          "start": 2778.6,
          "end": 2778.8,
          "text": "gets"
        },
        {
          "start": 2778.88,
          "end": 2778.96,
          "text": "to"
        },
        {
          "start": 2779.0,
          "end": 2779.32,
          "text": "something"
        },
        {
          "start": 2779.32,
          "end": 2779.44,
          "text": "that"
        },
        {
          "start": 2779.56,
          "end": 2780.04,
          "text": "actually"
        },
        {
          "start": 2780.32,
          "end": 2780.44,
          "text": "I"
        },
        {
          "start": 2780.56,
          "end": 2780.8,
          "text": "thought"
        },
        {
          "start": 2780.8,
          "end": 2781.08,
          "text": "about"
        },
        {
          "start": 2781.16,
          "end": 2781.44,
          "text": "after"
        },
        {
          "start": 2781.44,
          "end": 2781.56,
          "text": "we"
        },
        {
          "start": 2781.6,
          "end": 2781.72,
          "text": "did"
        },
        {
          "start": 2781.8,
          "end": 2781.88,
          "text": "that"
        },
        {
          "start": 2782.0,
          "end": 2782.28,
          "text": "recent"
        },
        {
          "start": 2782.32,
          "end": 2782.68,
          "text": "episode"
        },
        {
          "start": 2782.72,
          "end": 2782.76,
          "text": "with"
        },
        {
          "start": 2782.84,
          "end": 2783.2,
          "text": "Scott"
        },
        {
          "start": 2783.2,
          "end": 2783.48,
          "text": "back"
        },
        {
          "start": 2783.56,
          "end": 2783.64,
          "text": "on"
        },
        {
          "start": 2783.72,
          "end": 2784.2,
          "text": "boutique"
        },
        {
          "start": 2784.24,
          "end": 2784.72,
          "text": "investment"
        },
        {
          "start": 2784.76,
          "end": 2785.4,
          "text": "banks."
        }
      ]
    },
    {
      "speaker": 6,
      "words": [
        {
          "start": 2785.48,
          "end": 2785.76,
          "text": "Which"
        },
        {
          "start": 2785.8,
          "end": 2785.88,
          "text": "is"
        },
        {
          "start": 2785.96,
          "end": 2786.04,
          "text": "the"
        },
        {
          "start": 2786.16,
          "end": 2786.6,
          "text": "idea"
        },
        {
          "start": 2786.76,
          "end": 2786.92,
          "text": "of"
        },
        {
          "start": 2787.2,
          "end": 2787.76,
          "text": "where."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2787.52,
          "end": 2787.68,
          "text": "Does"
        },
        {
          "start": 2787.8,
          "end": 2788.44,
          "text": "franchise"
        },
        {
          "start": 2788.6,
          "end": 2788.96,
          "text": "value"
        },
        {
          "start": 2789.08,
          "end": 2789.28,
          "text": "come"
        },
        {
          "start": 2789.36,
          "end": 2789.72,
          "text": "in"
        },
        {
          "start": 2789.72,
          "end": 2789.8,
          "text": "in"
        },
        {
          "start": 2789.88,
          "end": 2789.96,
          "text": "a"
        },
        {
          "start": 2790.04,
          "end": 2790.36,
          "text": "talent"
        },
        {
          "start": 2790.48,
          "end": 2790.84,
          "text": "driven"
        },
        {
          "start": 2791.08,
          "end": 2791.48,
          "text": "business?"
        },
        {
          "start": 2791.6,
          "end": 2791.8,
          "text": "Yeah,"
        },
        {
          "start": 2792.16,
          "end": 2792.28,
          "text": "in"
        },
        {
          "start": 2792.4,
          "end": 2792.88,
          "text": "boutique"
        },
        {
          "start": 2792.92,
          "end": 2793.4,
          "text": "investment"
        },
        {
          "start": 2793.44,
          "end": 2793.72,
          "text": "banking,"
        },
        {
          "start": 2793.72,
          "end": 2793.92,
          "text": "there's"
        },
        {
          "start": 2793.96,
          "end": 2794.28,
          "text": "another"
        },
        {
          "start": 2794.36,
          "end": 2794.68,
          "text": "area"
        },
        {
          "start": 2794.72,
          "end": 2794.96,
          "text": "where"
        },
        {
          "start": 2795.0,
          "end": 2795.2,
          "text": "it's"
        },
        {
          "start": 2795.28,
          "end": 2795.36,
          "text": "like,"
        },
        {
          "start": 2795.56,
          "end": 2795.88,
          "text": "Okay,"
        },
        {
          "start": 2795.92,
          "end": 2796.0,
          "text": "you"
        },
        {
          "start": 2796.04,
          "end": 2796.32,
          "text": "build"
        },
        {
          "start": 2796.36,
          "end": 2796.44,
          "text": "this"
        },
        {
          "start": 2796.52,
          "end": 2796.84,
          "text": "talent,"
        },
        {
          "start": 2796.88,
          "end": 2796.96,
          "text": "but"
        },
        {
          "start": 2797.08,
          "end": 2797.16,
          "text": "is"
        },
        {
          "start": 2797.2,
          "end": 2797.32,
          "text": "there"
        },
        {
          "start": 2797.36,
          "end": 2797.64,
          "text": "any"
        },
        {
          "start": 2797.68,
          "end": 2798.36,
          "text": "franchise"
        },
        {
          "start": 2798.56,
          "end": 2798.92,
          "text": "value"
        },
        {
          "start": 2798.96,
          "end": 2799.48,
          "text": "external"
        },
        {
          "start": 2799.56,
          "end": 2799.64,
          "text": "that?"
        },
        {
          "start": 2799.88,
          "end": 2799.96,
          "text": "And"
        },
        {
          "start": 2800.0,
          "end": 2800.08,
          "text": "so"
        },
        {
          "start": 2800.08,
          "end": 2800.12,
          "text": "it"
        },
        {
          "start": 2800.24,
          "end": 2800.28,
          "text": "was"
        },
        {
          "start": 2800.32,
          "end": 2800.56,
          "text": "really"
        },
        {
          "start": 2800.6,
          "end": 2801.08,
          "text": "interesting"
        },
        {
          "start": 2801.12,
          "end": 2801.24,
          "text": "to"
        },
        {
          "start": 2801.32,
          "end": 2801.56,
          "text": "hear"
        },
        {
          "start": 2801.72,
          "end": 2802.04,
          "text": "Ronan"
        },
        {
          "start": 2802.12,
          "end": 2802.36,
          "text": "talk"
        },
        {
          "start": 2802.36,
          "end": 2802.72,
          "text": "about"
        },
        {
          "start": 2802.96,
          "end": 2803.08,
          "text": "at"
        },
        {
          "start": 2803.12,
          "end": 2803.36,
          "text": "any"
        },
        {
          "start": 2803.4,
          "end": 2803.68,
          "text": "hedge"
        },
        {
          "start": 2803.68,
          "end": 2804.0,
          "text": "fund,"
        },
        {
          "start": 2804.44,
          "end": 2804.52,
          "text": "not"
        },
        {
          "start": 2804.8,
          "end": 2804.88,
          "text": "just"
        },
        {
          "start": 2804.96,
          "end": 2805.04,
          "text": "the"
        },
        {
          "start": 2805.16,
          "end": 2805.6,
          "text": "degree"
        },
        {
          "start": 2805.72,
          "end": 2805.8,
          "text": "to"
        },
        {
          "start": 2805.84,
          "end": 2806.12,
          "text": "which"
        },
        {
          "start": 2806.24,
          "end": 2806.32,
          "text": "the"
        },
        {
          "start": 2806.4,
          "end": 2806.92,
          "text": "manager"
        },
        {
          "start": 2807.16,
          "end": 2807.4,
          "text": "has"
        },
        {
          "start": 2807.56,
          "end": 2807.96,
          "text": "actual"
        },
        {
          "start": 2808.0,
          "end": 2808.32,
          "text": "money"
        },
        {
          "start": 2808.36,
          "end": 2808.64,
          "text": "tied"
        },
        {
          "start": 2808.68,
          "end": 2808.76,
          "text": "to"
        },
        {
          "start": 2808.8,
          "end": 2808.88,
          "text": "the"
        },
        {
          "start": 2808.92,
          "end": 2809.44,
          "text": "investments"
        },
        {
          "start": 2809.44,
          "end": 2809.52,
          "text": "in"
        },
        {
          "start": 2809.56,
          "end": 2809.6,
          "text": "this"
        },
        {
          "start": 2809.68,
          "end": 2810.04,
          "text": "space,"
        },
        {
          "start": 2810.36,
          "end": 2810.44,
          "text": "but"
        },
        {
          "start": 2810.56,
          "end": 2810.64,
          "text": "to"
        },
        {
          "start": 2810.72,
          "end": 2810.96,
          "text": "which"
        },
        {
          "start": 2811.0,
          "end": 2811.48,
          "text": "they're"
        },
        {
          "start": 2811.48,
          "end": 2812.08,
          "text": "invested"
        },
        {
          "start": 2812.2,
          "end": 2812.32,
          "text": "in"
        },
        {
          "start": 2812.68,
          "end": 2812.8,
          "text": "the"
        },
        {
          "start": 2812.84,
          "end": 2813.28,
          "text": "business"
        },
        {
          "start": 2813.36,
          "end": 2813.56,
          "text": "as"
        },
        {
          "start": 2813.56,
          "end": 2813.64,
          "text": "a"
        },
        {
          "start": 2813.68,
          "end": 2814.12,
          "text": "business,"
        },
        {
          "start": 2814.16,
          "end": 2814.28,
          "text": "as"
        },
        {
          "start": 2814.32,
          "end": 2814.72,
          "text": "opposed"
        },
        {
          "start": 2814.72,
          "end": 2814.8,
          "text": "to"
        },
        {
          "start": 2814.88,
          "end": 2814.96,
          "text": "just"
        },
        {
          "start": 2815.0,
          "end": 2815.12,
          "text": "the"
        },
        {
          "start": 2815.16,
          "end": 2815.48,
          "text": "fund."
        },
        {
          "start": 2815.52,
          "end": 2815.6,
          "text": "I"
        },
        {
          "start": 2815.6,
          "end": 2815.8,
          "text": "thought"
        },
        {
          "start": 2815.84,
          "end": 2815.88,
          "text": "that"
        },
        {
          "start": 2816.0,
          "end": 2816.08,
          "text": "was"
        },
        {
          "start": 2816.12,
          "end": 2816.2,
          "text": "a"
        },
        {
          "start": 2816.24,
          "end": 2816.56,
          "text": "super"
        },
        {
          "start": 2816.56,
          "end": 2817.16,
          "text": "fantastic"
        },
        {
          "start": 2817.44,
          "end": 2818.0,
          "text": "Yeah."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2817.76,
          "end": 2817.88,
          "text": "And"
        },
        {
          "start": 2817.92,
          "end": 2818.24,
          "text": "also"
        },
        {
          "start": 2818.36,
          "end": 2818.44,
          "text": "like"
        },
        {
          "start": 2818.48,
          "end": 2818.56,
          "text": "the"
        },
        {
          "start": 2818.64,
          "end": 2818.96,
          "text": "idea"
        },
        {
          "start": 2819.0,
          "end": 2819.08,
          "text": "of"
        },
        {
          "start": 2819.12,
          "end": 2819.36,
          "text": "looking"
        },
        {
          "start": 2819.44,
          "end": 2819.6,
          "text": "at"
        },
        {
          "start": 2819.68,
          "end": 2819.88,
          "text": "over"
        },
        {
          "start": 2820.12,
          "end": 2820.36,
          "text": "head"
        },
        {
          "start": 2820.56,
          "end": 2821.12,
          "text": "spending"
        },
        {
          "start": 2821.32,
          "end": 2821.52,
          "text": "as"
        },
        {
          "start": 2821.68,
          "end": 2821.8,
          "text": "like"
        },
        {
          "start": 2822.08,
          "end": 2822.2,
          "text": "an"
        },
        {
          "start": 2822.28,
          "end": 2822.84,
          "text": "indication"
        },
        {
          "start": 2823.2,
          "end": 2823.28,
          "text": "how"
        },
        {
          "start": 2823.36,
          "end": 2823.52,
          "text": "much"
        },
        {
          "start": 2823.56,
          "end": 2823.84,
          "text": "people"
        },
        {
          "start": 2823.88,
          "end": 2824.04,
          "text": "care"
        },
        {
          "start": 2824.04,
          "end": 2824.28,
          "text": "about"
        },
        {
          "start": 2824.32,
          "end": 2824.4,
          "text": "the"
        },
        {
          "start": 2824.44,
          "end": 2824.88,
          "text": "business."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2825.08,
          "end": 2825.32,
          "text": "Yeah,"
        },
        {
          "start": 2825.32,
          "end": 2825.44,
          "text": "I"
        },
        {
          "start": 2825.44,
          "end": 2825.68,
          "text": "hadn't"
        },
        {
          "start": 2825.72,
          "end": 2825.88,
          "text": "thought"
        },
        {
          "start": 2825.92,
          "end": 2826.0,
          "text": "of"
        },
        {
          "start": 2826.04,
          "end": 2826.2,
          "text": "that."
        },
        {
          "start": 2826.6,
          "end": 2826.68,
          "text": "You"
        },
        {
          "start": 2826.72,
          "end": 2826.8,
          "text": "know,"
        },
        {
          "start": 2827.2,
          "end": 2827.28,
          "text": "I"
        },
        {
          "start": 2827.32,
          "end": 2827.64,
          "text": "would"
        },
        {
          "start": 2827.68,
          "end": 2827.76,
          "text": "like"
        },
        {
          "start": 2827.88,
          "end": 2827.96,
          "text": "to"
        },
        {
          "start": 2828.44,
          "end": 2828.52,
          "text": "be"
        },
        {
          "start": 2828.6,
          "end": 2828.72,
          "text": "in"
        },
        {
          "start": 2828.76,
          "end": 2828.8,
          "text": "this"
        },
        {
          "start": 2828.88,
          "end": 2829.16,
          "text": "space"
        },
        {
          "start": 2829.2,
          "end": 2829.32,
          "text": "one"
        },
        {
          "start": 2829.4,
          "end": 2829.52,
          "text": "day."
        },
        {
          "start": 2829.56,
          "end": 2829.76,
          "text": "That's"
        },
        {
          "start": 2829.8,
          "end": 2830.0,
          "text": "never"
        },
        {
          "start": 2830.04,
          "end": 2830.24,
          "text": "going"
        },
        {
          "start": 2830.24,
          "end": 2830.32,
          "text": "to"
        },
        {
          "start": 2830.36,
          "end": 2830.68,
          "text": "happen"
        },
        {
          "start": 2830.8,
          "end": 2830.88,
          "text": "for"
        },
        {
          "start": 2831.0,
          "end": 2831.44,
          "text": "obvious"
        },
        {
          "start": 2831.64,
          "end": 2832.08,
          "text": "reasons."
        },
        {
          "start": 2832.28,
          "end": 2832.36,
          "text": "But"
        },
        {
          "start": 2832.48,
          "end": 2832.68,
          "text": "it's"
        },
        {
          "start": 2832.84,
          "end": 2833.16,
          "text": "very"
        },
        {
          "start": 2833.2,
          "end": 2833.56,
          "text": "fun"
        },
        {
          "start": 2834.16,
          "end": 2834.52,
          "text": "thinking"
        },
        {
          "start": 2834.56,
          "end": 2834.88,
          "text": "about"
        },
        {
          "start": 2835.0,
          "end": 2835.52,
          "text": "ways"
        },
        {
          "start": 2835.64,
          "end": 2835.76,
          "text": "in"
        },
        {
          "start": 2835.8,
          "end": 2836.04,
          "text": "which,"
        },
        {
          "start": 2836.12,
          "end": 2836.56,
          "text": "depending"
        },
        {
          "start": 2836.56,
          "end": 2836.72,
          "text": "on"
        },
        {
          "start": 2836.76,
          "end": 2836.84,
          "text": "what"
        },
        {
          "start": 2837.04,
          "end": 2837.32,
          "text": "seat"
        },
        {
          "start": 2837.44,
          "end": 2837.52,
          "text": "we"
        },
        {
          "start": 2837.68,
          "end": 2837.84,
          "text": "have,"
        },
        {
          "start": 2838.16,
          "end": 2838.36,
          "text": "we're"
        },
        {
          "start": 2838.4,
          "end": 2838.84,
          "text": "gaming"
        },
        {
          "start": 2839.0,
          "end": 2839.08,
          "text": "the"
        },
        {
          "start": 2839.2,
          "end": 2839.6,
          "text": "system."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2839.72,
          "end": 2839.8,
          "text": "You"
        },
        {
          "start": 2839.84,
          "end": 2839.92,
          "text": "know."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2840.04,
          "end": 2840.12,
          "text": "So"
        },
        {
          "start": 2840.2,
          "end": 2840.36,
          "text": "it's"
        },
        {
          "start": 2840.4,
          "end": 2840.48,
          "text": "like,"
        },
        {
          "start": 2840.52,
          "end": 2840.68,
          "text": "if"
        },
        {
          "start": 2840.72,
          "end": 2840.92,
          "text": "I'm"
        },
        {
          "start": 2841.0,
          "end": 2841.2,
          "text": "at"
        },
        {
          "start": 2841.2,
          "end": 2841.32,
          "text": "the"
        },
        {
          "start": 2841.56,
          "end": 2842.04,
          "text": "manager"
        },
        {
          "start": 2842.16,
          "end": 2842.48,
          "text": "level,"
        },
        {
          "start": 2842.88,
          "end": 2843.08,
          "text": "I'm"
        },
        {
          "start": 2843.08,
          "end": 2843.36,
          "text": "thinking"
        },
        {
          "start": 2843.4,
          "end": 2843.68,
          "text": "about"
        },
        {
          "start": 2843.72,
          "end": 2844.0,
          "text": "how"
        },
        {
          "start": 2844.04,
          "end": 2844.12,
          "text": "I"
        },
        {
          "start": 2844.16,
          "end": 2844.36,
          "text": "can"
        },
        {
          "start": 2844.44,
          "end": 2844.56,
          "text": "have"
        },
        {
          "start": 2844.68,
          "end": 2845.2,
          "text": "personal"
        },
        {
          "start": 2845.24,
          "end": 2845.6,
          "text": "wealth"
        },
        {
          "start": 2846.0,
          "end": 2846.08,
          "text": "that"
        },
        {
          "start": 2846.4,
          "end": 2846.48,
          "text": "is"
        },
        {
          "start": 2846.6,
          "end": 2847.0,
          "text": "visible"
        },
        {
          "start": 2847.08,
          "end": 2847.16,
          "text": "to"
        },
        {
          "start": 2847.24,
          "end": 2847.32,
          "text": "me."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2847.52,
          "end": 2847.6,
          "text": "But"
        },
        {
          "start": 2847.76,
          "end": 2847.8,
          "text": "is"
        },
        {
          "start": 2847.88,
          "end": 2848.0,
          "text": "it"
        },
        {
          "start": 2848.04,
          "end": 2848.12,
          "text": "not"
        },
        {
          "start": 2848.24,
          "end": 2848.32,
          "text": "that"
        },
        {
          "start": 2848.4,
          "end": 2848.56,
          "text": "your"
        },
        {
          "start": 2848.64,
          "end": 2848.92,
          "text": "mind"
        },
        {
          "start": 2849.08,
          "end": 2849.64,
          "text": "immediately"
        },
        {
          "start": 2849.68,
          "end": 2849.88,
          "text": "goes"
        },
        {
          "start": 2849.92,
          "end": 2850.0,
          "text": "to"
        },
        {
          "start": 2850.04,
          "end": 2850.28,
          "text": "gaming"
        },
        {
          "start": 2850.36,
          "end": 2850.44,
          "text": "the"
        },
        {
          "start": 2850.44,
          "end": 2850.76,
          "text": "system."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2850.8,
          "end": 2850.92,
          "text": "It's"
        },
        {
          "start": 2851.0,
          "end": 2851.08,
          "text": "not"
        },
        {
          "start": 2851.16,
          "end": 2851.52,
          "text": "visible"
        },
        {
          "start": 2851.52,
          "end": 2851.6,
          "text": "to"
        },
        {
          "start": 2851.64,
          "end": 2851.72,
          "text": "the"
        },
        {
          "start": 2851.84,
          "end": 2852.28,
          "text": "LPs."
        },
        {
          "start": 2852.56,
          "end": 2852.64,
          "text": "I"
        },
        {
          "start": 2852.68,
          "end": 2852.92,
          "text": "think"
        },
        {
          "start": 2852.96,
          "end": 2853.28,
          "text": "about"
        },
        {
          "start": 2853.32,
          "end": 2853.56,
          "text": "how"
        },
        {
          "start": 2853.64,
          "end": 2853.84,
          "text": "if"
        },
        {
          "start": 2853.92,
          "end": 2854.0,
          "text": "I"
        },
        {
          "start": 2854.08,
          "end": 2854.24,
          "text": "were"
        },
        {
          "start": 2854.44,
          "end": 2854.64,
          "text": "at"
        },
        {
          "start": 2854.68,
          "end": 2854.84,
          "text": "the"
        },
        {
          "start": 2854.88,
          "end": 2855.24,
          "text": "PM"
        },
        {
          "start": 2855.44,
          "end": 2855.8,
          "text": "level,"
        },
        {
          "start": 2856.2,
          "end": 2856.28,
          "text": "I"
        },
        {
          "start": 2856.32,
          "end": 2856.4,
          "text": "was"
        },
        {
          "start": 2856.44,
          "end": 2856.48,
          "text": "like,"
        },
        {
          "start": 2856.6,
          "end": 2856.88,
          "text": "yeah,"
        },
        {
          "start": 2856.92,
          "end": 2857.0,
          "text": "of"
        },
        {
          "start": 2857.0,
          "end": 2857.28,
          "text": "course"
        },
        {
          "start": 2857.28,
          "end": 2857.48,
          "text": "I'm"
        },
        {
          "start": 2857.52,
          "end": 2857.84,
          "text": "taking"
        },
        {
          "start": 2857.96,
          "end": 2858.04,
          "text": "a"
        },
        {
          "start": 2858.24,
          "end": 2858.6,
          "text": "market"
        },
        {
          "start": 2858.64,
          "end": 2859.0,
          "text": "neutral"
        },
        {
          "start": 2859.0,
          "end": 2859.2,
          "text": "long"
        },
        {
          "start": 2859.24,
          "end": 2859.52,
          "text": "short"
        },
        {
          "start": 2859.52,
          "end": 2859.76,
          "text": "book,"
        },
        {
          "start": 2859.8,
          "end": 2859.88,
          "text": "but"
        },
        {
          "start": 2859.92,
          "end": 2860.08,
          "text": "I'm"
        },
        {
          "start": 2860.12,
          "end": 2860.4,
          "text": "really"
        },
        {
          "start": 2860.48,
          "end": 2860.56,
          "text": "just"
        },
        {
          "start": 2860.64,
          "end": 2861.08,
          "text": "finding"
        },
        {
          "start": 2861.12,
          "end": 2861.2,
          "text": "a"
        },
        {
          "start": 2861.24,
          "end": 2861.64,
          "text": "closet"
        },
        {
          "start": 2861.68,
          "end": 2862.0,
          "text": "way"
        },
        {
          "start": 2862.28,
          "end": 2862.36,
          "text": "to"
        },
        {
          "start": 2862.48,
          "end": 2862.56,
          "text": "go"
        },
        {
          "start": 2862.72,
          "end": 2862.96,
          "text": "long"
        },
        {
          "start": 2863.24,
          "end": 2863.28,
          "text": "in"
        },
        {
          "start": 2863.4,
          "end": 2863.72,
          "text": "video."
        },
        {
          "start": 2863.84,
          "end": 2864.04,
          "text": "During"
        },
        {
          "start": 2864.08,
          "end": 2864.16,
          "text": "the"
        },
        {
          "start": 2864.24,
          "end": 2864.76,
          "text": "AI"
        },
        {
          "start": 2864.88,
          "end": 2865.08,
          "text": "bull"
        },
        {
          "start": 2865.16,
          "end": 2865.48,
          "text": "market,"
        },
        {
          "start": 2865.84,
          "end": 2865.96,
          "text": "it"
        },
        {
          "start": 2866.0,
          "end": 2866.24,
          "text": "does"
        },
        {
          "start": 2866.32,
          "end": 2866.6,
          "text": "feel"
        },
        {
          "start": 2866.64,
          "end": 2866.88,
          "text": "though"
        },
        {
          "start": 2866.88,
          "end": 2866.96,
          "text": "that"
        },
        {
          "start": 2867.12,
          "end": 2867.2,
          "text": "like"
        },
        {
          "start": 2867.28,
          "end": 2867.52,
          "text": "part"
        },
        {
          "start": 2867.52,
          "end": 2867.56,
          "text": "of"
        },
        {
          "start": 2867.64,
          "end": 2867.72,
          "text": "the"
        },
        {
          "start": 2867.88,
          "end": 2868.16,
          "text": "entire"
        },
        {
          "start": 2868.28,
          "end": 2868.6,
          "text": "game"
        },
        {
          "start": 2868.96,
          "end": 2869.08,
          "text": "is"
        },
        {
          "start": 2869.4,
          "end": 2869.6,
          "text": "here."
        },
        {
          "start": 2869.68,
          "end": 2869.76,
          "text": "You"
        },
        {
          "start": 2869.84,
          "end": 2869.92,
          "text": "have"
        },
        {
          "start": 2870.0,
          "end": 2870.2,
          "text": "these"
        },
        {
          "start": 2870.24,
          "end": 2870.8,
          "text": "parameters"
        },
        {
          "start": 2870.8,
          "end": 2870.84,
          "text": "and"
        },
        {
          "start": 2870.96,
          "end": 2871.16,
          "text": "risk"
        },
        {
          "start": 2871.2,
          "end": 2871.68,
          "text": "constraints"
        },
        {
          "start": 2871.72,
          "end": 2871.84,
          "text": "and"
        },
        {
          "start": 2871.92,
          "end": 2872.04,
          "text": "so"
        },
        {
          "start": 2872.16,
          "end": 2872.44,
          "text": "forth,"
        },
        {
          "start": 2872.72,
          "end": 2872.84,
          "text": "and"
        },
        {
          "start": 2872.88,
          "end": 2872.96,
          "text": "this"
        },
        {
          "start": 2873.08,
          "end": 2873.28,
          "text": "cat"
        },
        {
          "start": 2873.32,
          "end": 2873.4,
          "text": "and"
        },
        {
          "start": 2873.44,
          "end": 2873.76,
          "text": "mouse"
        },
        {
          "start": 2873.84,
          "end": 2874.12,
          "text": "game"
        },
        {
          "start": 2874.56,
          "end": 2875.04,
          "text": "between"
        },
        {
          "start": 2875.16,
          "end": 2875.36,
          "text": "those"
        },
        {
          "start": 2875.4,
          "end": 2875.6,
          "text": "who"
        },
        {
          "start": 2875.68,
          "end": 2875.92,
          "text": "want"
        },
        {
          "start": 2876.04,
          "end": 2876.12,
          "text": "to"
        },
        {
          "start": 2876.88,
          "end": 2877.4,
          "text": "essentially"
        },
        {
          "start": 2877.64,
          "end": 2877.92,
          "text": "find"
        },
        {
          "start": 2877.96,
          "end": 2878.0,
          "text": "a"
        },
        {
          "start": 2878.04,
          "end": 2878.28,
          "text": "way"
        },
        {
          "start": 2878.36,
          "end": 2878.6,
          "text": "out"
        },
        {
          "start": 2878.6,
          "end": 2878.68,
          "text": "of"
        },
        {
          "start": 2878.72,
          "end": 2878.84,
          "text": "the"
        },
        {
          "start": 2878.88,
          "end": 2879.52,
          "text": "constraints"
        },
        {
          "start": 2879.56,
          "end": 2879.64,
          "text": "and"
        },
        {
          "start": 2879.68,
          "end": 2879.88,
          "text": "those"
        },
        {
          "start": 2880.0,
          "end": 2880.16,
          "text": "who"
        },
        {
          "start": 2880.16,
          "end": 2880.32,
          "text": "want"
        },
        {
          "start": 2880.36,
          "end": 2880.4,
          "text": "to"
        },
        {
          "start": 2880.4,
          "end": 2880.56,
          "text": "put"
        },
        {
          "start": 2880.6,
          "end": 2880.72,
          "text": "them"
        },
        {
          "start": 2880.76,
          "end": 2880.88,
          "text": "back"
        },
        {
          "start": 2880.92,
          "end": 2881.0,
          "text": "in"
        },
        {
          "start": 2881.0,
          "end": 2881.08,
          "text": "the"
        },
        {
          "start": 2881.12,
          "end": 2881.4,
          "text": "box."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2881.56,
          "end": 2881.76,
          "text": "Yeah,"
        },
        {
          "start": 2881.8,
          "end": 2881.88,
          "text": "that"
        },
        {
          "start": 2881.92,
          "end": 2882.24,
          "text": "seems"
        },
        {
          "start": 2882.28,
          "end": 2882.32,
          "text": "to"
        },
        {
          "start": 2882.36,
          "end": 2882.44,
          "text": "be"
        },
        {
          "start": 2882.52,
          "end": 2882.6,
          "text": "a"
        },
        {
          "start": 2882.64,
          "end": 2883.28,
          "text": "fundamental"
        },
        {
          "start": 2883.36,
          "end": 2883.68,
          "text": "tension,"
        },
        {
          "start": 2883.72,
          "end": 2883.96,
          "text": "although"
        },
        {
          "start": 2884.0,
          "end": 2884.12,
          "text": "I"
        },
        {
          "start": 2884.12,
          "end": 2884.56,
          "text": "imagine"
        },
        {
          "start": 2884.56,
          "end": 2884.68,
          "text": "it"
        },
        {
          "start": 2884.8,
          "end": 2885.28,
          "text": "exists,"
        },
        {
          "start": 2885.36,
          "end": 2885.44,
          "text": "you"
        },
        {
          "start": 2885.48,
          "end": 2885.6,
          "text": "know,"
        },
        {
          "start": 2885.72,
          "end": 2885.92,
          "text": "in"
        },
        {
          "start": 2886.04,
          "end": 2886.12,
          "text": "some"
        },
        {
          "start": 2886.24,
          "end": 2886.4,
          "text": "other"
        },
        {
          "start": 2886.44,
          "end": 2886.84,
          "text": "funds"
        },
        {
          "start": 2887.0,
          "end": 2887.12,
          "text": "as"
        },
        {
          "start": 2887.16,
          "end": 2887.56,
          "text": "well."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2887.44,
          "end": 2887.56,
          "text": "And"
        },
        {
          "start": 2887.6,
          "end": 2887.68,
          "text": "I"
        },
        {
          "start": 2887.84,
          "end": 2887.92,
          "text": "just"
        },
        {
          "start": 2888.04,
          "end": 2888.12,
          "text": "like"
        },
        {
          "start": 2888.16,
          "end": 2888.28,
          "text": "the"
        },
        {
          "start": 2888.28,
          "end": 2888.56,
          "text": "fact"
        },
        {
          "start": 2888.6,
          "end": 2888.76,
          "text": "that"
        },
        {
          "start": 2888.84,
          "end": 2889.04,
          "text": "all"
        },
        {
          "start": 2889.04,
          "end": 2889.12,
          "text": "this"
        },
        {
          "start": 2889.24,
          "end": 2889.68,
          "text": "bonus"
        },
        {
          "start": 2889.72,
          "end": 2890.04,
          "text": "money"
        },
        {
          "start": 2890.24,
          "end": 2890.36,
          "text": "is"
        },
        {
          "start": 2890.4,
          "end": 2890.48,
          "text": "the"
        },
        {
          "start": 2890.52,
          "end": 2890.96,
          "text": "business"
        },
        {
          "start": 2891.0,
          "end": 2891.36,
          "text": "itself."
        },
        {
          "start": 2891.4,
          "end": 2891.48,
          "text": "I"
        },
        {
          "start": 2891.48,
          "end": 2891.6,
          "text": "think"
        },
        {
          "start": 2891.64,
          "end": 2891.84,
          "text": "that's"
        },
        {
          "start": 2891.84,
          "end": 2891.92,
          "text": "a"
        },
        {
          "start": 2891.96,
          "end": 2892.12,
          "text": "really"
        },
        {
          "start": 2892.16,
          "end": 2892.64,
          "text": "important"
        },
        {
          "start": 2893.04,
          "end": 2893.4,
          "text": "idea"
        },
        {
          "start": 2893.88,
          "end": 2894.04,
          "text": "when"
        },
        {
          "start": 2894.08,
          "end": 2894.16,
          "text": "you"
        },
        {
          "start": 2894.16,
          "end": 2894.28,
          "text": "hear"
        },
        {
          "start": 2894.32,
          "end": 2894.56,
          "text": "about"
        },
        {
          "start": 2894.56,
          "end": 2895.0,
          "text": "bonuses,"
        },
        {
          "start": 2894.96,
          "end": 2895.08,
          "text": "et"
        },
        {
          "start": 2895.12,
          "end": 2895.36,
          "text": "cetera."
        },
        {
          "start": 2895.48,
          "end": 2895.56,
          "text": "This"
        },
        {
          "start": 2895.6,
          "end": 2895.72,
          "text": "is"
        },
        {
          "start": 2895.76,
          "end": 2895.8,
          "text": "not"
        },
        {
          "start": 2895.96,
          "end": 2896.08,
          "text": "just"
        },
        {
          "start": 2896.08,
          "end": 2896.16,
          "text": "like"
        },
        {
          "start": 2896.2,
          "end": 2896.48,
          "text": "someone"
        },
        {
          "start": 2896.48,
          "end": 2896.8,
          "text": "getting"
        },
        {
          "start": 2896.8,
          "end": 2896.92,
          "text": "their"
        },
        {
          "start": 2897.0,
          "end": 2897.44,
          "text": "Christmas"
        },
        {
          "start": 2897.44,
          "end": 2897.8,
          "text": "bonus."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2897.88,
          "end": 2898.0,
          "text": "This"
        },
        {
          "start": 2898.2,
          "end": 2898.32,
          "text": "is"
        },
        {
          "start": 2898.88,
          "end": 2898.92,
          "text": "the"
        },
        {
          "start": 2899.56,
          "end": 2899.96,
          "text": "business."
        },
        {
          "start": 2900.0,
          "end": 2900.08,
          "text": "This"
        },
        {
          "start": 2900.2,
          "end": 2900.28,
          "text": "is"
        },
        {
          "start": 2900.28,
          "end": 2900.36,
          "text": "the"
        },
        {
          "start": 2900.36,
          "end": 2900.8,
          "text": "business."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2900.88,
          "end": 2901.12,
          "text": "Shall"
        },
        {
          "start": 2901.12,
          "end": 2901.16,
          "text": "we"
        },
        {
          "start": 2901.24,
          "end": 2901.4,
          "text": "leave"
        },
        {
          "start": 2901.4,
          "end": 2901.48,
          "text": "it"
        },
        {
          "start": 2901.48,
          "end": 2901.64,
          "text": "there?"
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2901.72,
          "end": 2901.92,
          "text": "Let's"
        },
        {
          "start": 2902.0,
          "end": 2902.12,
          "text": "leave"
        },
        {
          "start": 2902.16,
          "end": 2902.2,
          "text": "it"
        },
        {
          "start": 2902.24,
          "end": 2902.48,
          "text": "there."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2902.72,
          "end": 2902.8,
          "text": "This"
        },
        {
          "start": 2902.88,
          "end": 2903.0,
          "text": "has"
        },
        {
          "start": 2903.04,
          "end": 2903.2,
          "text": "been"
        },
        {
          "start": 2903.24,
          "end": 2903.56,
          "text": "another"
        },
        {
          "start": 2903.56,
          "end": 2904.04,
          "text": "episode"
        },
        {
          "start": 2904.04,
          "end": 2904.12,
          "text": "of"
        },
        {
          "start": 2904.12,
          "end": 2904.2,
          "text": "the"
        },
        {
          "start": 2904.2,
          "end": 2904.4,
          "text": "Odd"
        },
        {
          "start": 2904.44,
          "end": 2904.68,
          "text": "Lots"
        },
        {
          "start": 2904.72,
          "end": 2905.24,
          "text": "podcast."
        },
        {
          "start": 2905.32,
          "end": 2905.52,
          "text": "I'm"
        },
        {
          "start": 2905.52,
          "end": 2905.88,
          "text": "Tracy"
        },
        {
          "start": 2905.88,
          "end": 2906.28,
          "text": "Alloway."
        },
        {
          "start": 2906.36,
          "end": 2906.44,
          "text": "You"
        },
        {
          "start": 2906.48,
          "end": 2906.64,
          "text": "can"
        },
        {
          "start": 2906.64,
          "end": 2906.92,
          "text": "follow"
        },
        {
          "start": 2906.96,
          "end": 2907.04,
          "text": "me"
        },
        {
          "start": 2907.24,
          "end": 2907.4,
          "text": "at"
        },
        {
          "start": 2907.48,
          "end": 2907.88,
          "text": "Tracy"
        },
        {
          "start": 2907.92,
          "end": 2908.8,
          "text": "Alloway."
        }
      ]
    },
    {
      "speaker": 0,
      "words": [
        {
          "start": 2908.52,
          "end": 2908.6,
          "text": "And"
        },
        {
          "start": 2908.64,
          "end": 2908.8,
          "text": "I'm"
        },
        {
          "start": 2908.88,
          "end": 2909.08,
          "text": "Jill"
        },
        {
          "start": 2909.08,
          "end": 2909.64,
          "text": "Wisenthal."
        },
        {
          "start": 2909.72,
          "end": 2909.76,
          "text": "You"
        },
        {
          "start": 2909.8,
          "end": 2909.92,
          "text": "can"
        },
        {
          "start": 2909.96,
          "end": 2910.28,
          "text": "follow"
        },
        {
          "start": 2910.32,
          "end": 2910.36,
          "text": "me"
        },
        {
          "start": 2910.48,
          "end": 2910.64,
          "text": "at"
        },
        {
          "start": 2910.64,
          "end": 2910.72,
          "text": "the"
        },
        {
          "start": 2910.76,
          "end": 2911.24,
          "text": "Stalwart."
        }
      ]
    },
    {
      "speaker": 1,
      "words": [
        {
          "start": 2911.52,
          "end": 2911.84,
          "text": "Follow"
        },
        {
          "start": 2911.84,
          "end": 2912.0,
          "text": "our"
        },
        {
          "start": 2912.04,
          "end": 2912.56,
          "text": "producers"
        },
        {
          "start": 2912.6,
          "end": 2912.88,
          "text": "Carmen"
        },
        {
          "start": 2913.0,
          "end": 2913.6,
          "text": "Rodriguez"
        },
        {
          "start": 2913.6,
          "end": 2913.8,
          "text": "at"
        },
        {
          "start": 2913.84,
          "end": 2914.12,
          "text": "Carmen"
        },
        {
          "start": 2914.24,
          "end": 2914.52,
          "text": "Ermint,"
        },
        {
          "start": 2914.6,
          "end": 2914.84,
          "text": "dash"
        },
        {
          "start": 2914.84,
          "end": 2914.96,
          "text": "Ol"
        },
        {
          "start": 2914.96,
          "end": 2915.4,
          "text": "Bennett"
        },
        {
          "start": 2915.4,
          "end": 2915.48,
          "text": "at"
        },
        {
          "start": 2915.56,
          "end": 2916.04,
          "text": "Dashbot"
        },
        {
          "start": 2916.12,
          "end": 2916.16,
          "text": "and"
        },
        {
          "start": 2916.28,
          "end": 2916.44,
          "text": "kill"
        },
        {
          "start": 2916.52,
          "end": 2916.88,
          "text": "Brooks"
        },
        {
          "start": 2916.92,
          "end": 2917.0,
          "text": "at"
        },
        {
          "start": 2917.08,
          "end": 2917.8,
          "text": "Kilbrooks."
        },
        {
          "start": 2918.04,
          "end": 2918.2,
          "text": "More"
        },
        {
          "start": 2918.24,
          "end": 2918.48,
          "text": "Odd"
        },
        {
          "start": 2918.48,
          "end": 2918.76,
          "text": "Lots"
        },
        {
          "start": 2918.76,
          "end": 2919.08,
          "text": "content,"
        },
        {
          "start": 2919.16,
          "end": 2919.2,
          "text": "go"
        },
        {
          "start": 2919.24,
          "end": 2919.28,
          "text": "to"
        },
        {
          "start": 2919.32,
          "end": 2919.8,
          "text": "Bloomberg"
        },
        {
          "start": 2919.84,
          "end": 2920.0,
          "text": "dot"
        },
        {
          "start": 2920.0,
          "end": 2920.24,
          "text": "com"
        },
        {
          "start": 2920.24,
          "end": 2920.52,
          "text": "slash"
        },
        {
          "start": 2920.6,
          "end": 2920.76,
          "text": "odd"
        },
        {
          "start": 2920.8,
          "end": 2921.0,
          "text": "Lots,"
        },
        {
          "start": 2921.0,
          "end": 2921.16,
          "text": "where"
        },
        {
          "start": 2921.16,
          "end": 2921.2,
          "text": "we"
        },
        {
          "start": 2921.24,
          "end": 2921.28,
          "text": "have"
        },
        {
          "start": 2921.32,
          "end": 2921.36,
          "text": "a"
        },
        {
          "start": 2921.44,
          "end": 2921.68,
          "text": "daily"
        },
        {
          "start": 2921.76,
          "end": 2922.2,
          "text": "newsletter"
        },
        {
          "start": 2922.24,
          "end": 2922.32,
          "text": "and"
        },
        {
          "start": 2922.36,
          "end": 2922.48,
          "text": "all"
        },
        {
          "start": 2922.52,
          "end": 2922.56,
          "text": "of"
        },
        {
          "start": 2922.6,
          "end": 2922.72,
          "text": "our"
        },
        {
          "start": 2922.76,
          "end": 2923.32,
          "text": "episodes,"
        },
        {
          "start": 2923.6,
          "end": 2923.68,
          "text": "and"
        },
        {
          "start": 2923.72,
          "end": 2923.8,
          "text": "you"
        },
        {
          "start": 2923.8,
          "end": 2923.96,
          "text": "can"
        },
        {
          "start": 2924.04,
          "end": 2924.24,
          "text": "chat"
        },
        {
          "start": 2924.24,
          "end": 2924.48,
          "text": "about"
        },
        {
          "start": 2924.52,
          "end": 2924.6,
          "text": "all"
        },
        {
          "start": 2924.64,
          "end": 2924.72,
          "text": "of"
        },
        {
          "start": 2924.76,
          "end": 2924.92,
          "text": "these"
        },
        {
          "start": 2924.92,
          "end": 2925.28,
          "text": "topics"
        },
        {
          "start": 2925.28,
          "end": 2925.52,
          "text": "twenty"
        },
        {
          "start": 2925.56,
          "end": 2925.72,
          "text": "four"
        },
        {
          "start": 2925.8,
          "end": 2926.04,
          "text": "seven"
        },
        {
          "start": 2926.16,
          "end": 2926.24,
          "text": "in"
        },
        {
          "start": 2926.4,
          "end": 2926.56,
          "text": "our"
        },
        {
          "start": 2926.68,
          "end": 2927.12,
          "text": "discord"
        },
        {
          "start": 2927.48,
          "end": 2927.92,
          "text": "Discord"
        },
        {
          "start": 2928.0,
          "end": 2928.2,
          "text": "dot"
        },
        {
          "start": 2928.28,
          "end": 2928.52,
          "text": "gg"
        },
        {
          "start": 2928.68,
          "end": 2929.0,
          "text": "slash"
        },
        {
          "start": 2929.0,
          "end": 2929.2,
          "text": "od"
        },
        {
          "start": 2929.2,
          "end": 2929.64,
          "text": "Loots."
        }
      ]
    },
    {
      "speaker": 2,
      "words": [
        {
          "start": 2929.76,
          "end": 2929.88,
          "text": "And"
        },
        {
          "start": 2930.04,
          "end": 2930.2,
          "text": "if"
        },
        {
          "start": 2930.2,
          "end": 2930.28,
          "text": "you"
        },
        {
          "start": 2930.48,
          "end": 2930.76,
          "text": "enjoy"
        },
        {
          "start": 2930.84,
          "end": 2931.08,
          "text": "odd"
        },
        {
          "start": 2931.08,
          "end": 2931.44,
          "text": "Lots,"
        },
        {
          "start": 2931.56,
          "end": 2931.72,
          "text": "if"
        },
        {
          "start": 2931.76,
          "end": 2931.84,
          "text": "you"
        },
        {
          "start": 2932.0,
          "end": 2932.08,
          "text": "like"
        },
        {
          "start": 2932.12,
          "end": 2932.24,
          "text": "it"
        },
        {
          "start": 2932.28,
          "end": 2932.44,
          "text": "when"
        },
        {
          "start": 2932.48,
          "end": 2932.56,
          "text": "we"
        },
        {
          "start": 2932.6,
          "end": 2932.8,
          "text": "talk"
        },
        {
          "start": 2932.8,
          "end": 2933.08,
          "text": "about"
        },
        {
          "start": 2933.08,
          "end": 2933.32,
          "text": "why"
        },
        {
          "start": 2933.44,
          "end": 2934.04,
          "text": "bonuses"
        },
        {
          "start": 2934.08,
          "end": 2934.24,
          "text": "are"
        },
        {
          "start": 2934.36,
          "end": 2934.44,
          "text": "the"
        },
        {
          "start": 2934.48,
          "end": 2934.92,
          "text": "business,"
        },
        {
          "start": 2935.16,
          "end": 2935.4,
          "text": "then"
        },
        {
          "start": 2935.44,
          "end": 2935.72,
          "text": "please"
        },
        {
          "start": 2935.8,
          "end": 2935.96,
          "text": "leave"
        },
        {
          "start": 2936.04,
          "end": 2936.2,
          "text": "us"
        },
        {
          "start": 2936.24,
          "end": 2936.32,
          "text": "a"
        },
        {
          "start": 2936.44,
          "end": 2936.84,
          "text": "positive"
        },
        {
          "start": 2936.88,
          "end": 2937.2,
          "text": "review"
        },
        {
          "start": 2937.24,
          "end": 2937.32,
          "text": "on"
        },
        {
          "start": 2937.4,
          "end": 2937.52,
          "text": "your"
        },
        {
          "start": 2937.56,
          "end": 2937.92,
          "text": "favorite"
        },
        {
          "start": 2937.92,
          "end": 2938.32,
          "text": "podcast"
        },
        {
          "start": 2938.4,
          "end": 2938.92,
          "text": "platform."
        },
        {
          "start": 2939.2,
          "end": 2939.28,
          "text": "And"
        },
        {
          "start": 2939.4,
          "end": 2939.76,
          "text": "remember,"
        },
        {
          "start": 2939.84,
          "end": 2940.0,
          "text": "if"
        },
        {
          "start": 2940.0,
          "end": 2940.08,
          "text": "if"
        },
        {
          "start": 2940.12,
          "end": 2940.2,
          "text": "you"
        },
        {
          "start": 2940.24,
          "end": 2940.36,
          "text": "are"
        },
        {
          "start": 2940.4,
          "end": 2940.48,
          "text": "a"
        },
        {
          "start": 2940.56,
          "end": 2941.08,
          "text": "Bloomberg"
        },
        {
          "start": 2941.08,
          "end": 2941.68,
          "text": "subscriber,"
        },
        {
          "start": 2941.8,
          "end": 2941.84,
          "text": "you"
        },
        {
          "start": 2941.88,
          "end": 2942.0,
          "text": "can"
        },
        {
          "start": 2942.08,
          "end": 2942.36,
          "text": "listen"
        },
        {
          "start": 2942.4,
          "end": 2942.52,
          "text": "to"
        },
        {
          "start": 2942.68,
          "end": 2942.84,
          "text": "all"
        },
        {
          "start": 2942.84,
          "end": 2942.92,
          "text": "of"
        },
        {
          "start": 2942.96,
          "end": 2943.08,
          "text": "our"
        },
        {
          "start": 2943.12,
          "end": 2943.68,
          "text": "episodes"
        },
        {
          "start": 2943.76,
          "end": 2944.32,
          "text": "absolutely"
        },
        {
          "start": 2944.32,
          "end": 2944.6,
          "text": "ad"
        },
        {
          "start": 2944.64,
          "end": 2945.08,
          "text": "free."
        },
        {
          "start": 2945.12,
          "end": 2945.28,
          "text": "All"
        },
        {
          "start": 2945.32,
          "end": 2945.4,
          "text": "you"
        },
        {
          "start": 2945.48,
          "end": 2945.64,
          "text": "need"
        },
        {
          "start": 2945.68,
          "end": 2945.76,
          "text": "to"
        },
        {
          "start": 2945.8,
          "end": 2945.92,
          "text": "do"
        },
        {
          "start": 2946.04,
          "end": 2946.12,
          "text": "is"
        },
        {
          "start": 2946.16,
          "end": 2946.36,
          "text": "find"
        },
        {
          "start": 2946.4,
          "end": 2946.44,
          "text": "the"
        },
        {
          "start": 2946.48,
          "end": 2946.92,
          "text": "Bloomberg"
        },
        {
          "start": 2947.0,
          "end": 2947.28,
          "text": "channel"
        },
        {
          "start": 2947.32,
          "end": 2947.4,
          "text": "on"
        },
        {
          "start": 2947.48,
          "end": 2947.8,
          "text": "Apple"
        },
        {
          "start": 2947.84,
          "end": 2948.4,
          "text": "Podcasts"
        },
        {
          "start": 2948.4,
          "end": 2948.48,
          "text": "and"
        },
        {
          "start": 2948.64,
          "end": 2948.92,
          "text": "follow"
        },
        {
          "start": 2948.96,
          "end": 2949.04,
          "text": "the"
        },
        {
          "start": 2949.08,
          "end": 2949.68,
          "text": "instructions"
        },
        {
          "start": 2949.72,
          "end": 2949.92,
          "text": "there."
        },
        {
          "start": 2950.28,
          "end": 2950.56,
          "text": "Thanks"
        },
        {
          "start": 2950.6,
          "end": 2950.68,
          "text": "for"
        },
        {
          "start": 2950.76,
          "end": 2951.16,
          "text": "listening."
        }
      ]
    }
  ]
}