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Why do Humans Struggle at Picking Stocks? · Views from 6,230

0:11
Let's
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go.
0:18
Ryan Nauman Market Strategist Zephyr: everyone
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Ryan Nauman Market Strategist Zephyr: and
0:19
Ryan Nauman Market Strategist Zephyr: welcome
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Ryan Nauman Market Strategist Zephyr: to
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Ryan Nauman Market Strategist Zephyr: zephyr's
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Ryan Nauman Market Strategist Zephyr: adjusted
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Ryan Nauman Market Strategist Zephyr: for
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Ryan Nauman Market Strategist Zephyr: Risk
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Ryan Nauman Market Strategist Zephyr: Podcast
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Ryan Nauman Market Strategist Zephyr: from
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Ryan Nauman Market Strategist Zephyr: the
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Ryan Nauman Market Strategist Zephyr: am
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Ryan Nauman Market Strategist Zephyr: Ryan
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Ryan Nauman Market Strategist Zephyr: the
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Ryan Nauman Market Strategist Zephyr: what
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Ryan Nauman Market Strategist Zephyr: AI
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0:37
Ryan Nauman Market Strategist Zephyr: or
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Ryan Nauman Market Strategist Zephyr: is.
0:38
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Ryan Nauman Market Strategist Zephyr: all
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Ryan Nauman Market Strategist Zephyr: how
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1:00
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1:01
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1:02
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1:03
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3:39
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3:40
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3:58
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5:28
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6:02
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6:02
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6:03
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6:03
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6:04
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6:04
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6:04
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6:05
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6:06
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6:06
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6:07
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6:07
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6:08
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6:10
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6:10
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6:10
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6:10
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6:11
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6:11
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6:11
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6:11
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6:12
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6:13
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6:13
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6:14
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6:14
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6:15
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6:15
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6:22
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6:24
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6:25
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6:27
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6:30
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6:33
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6:33
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6:33
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6:34
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6:34
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6:35
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6:35
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6:35
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6:35
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6:36
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6:36
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6:36
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6:36
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6:38
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6:39
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6:41
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6:41
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6:41
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6:41
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6:42
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6:42
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6:42
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6:43
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6:43
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6:44
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6:45
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6:47
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6:47
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6:48
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6:49
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6:50
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6:50
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6:50
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6:50
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6:50
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6:51
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6:52
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6:53
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6:54
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6:54
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6:57
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6:58
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6:58
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6:59
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7:00
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7:00
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7:03
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7:04
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7:05
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7:06
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7:06
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7:07
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7:07
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7:07
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7:08
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7:08
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7:08
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7:08
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7:09
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7:09
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7:09
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7:10
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7:11
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7:11
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7:11
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7:12
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7:12
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7:13
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7:13
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7:13
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7:15
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7:15
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7:15
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7:15
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7:16
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7:16
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7:16
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7:16
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7:17
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7:18
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7:18
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7:18
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7:18
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7:18
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7:19
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7:19
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7:20
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7:20
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7:20
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7:21
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7:21
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7:21
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7:22
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7:22
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7:25
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7:25
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7:26
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7:26
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7:27
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7:27
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7:28
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7:28
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7:29
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7:29
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7:29
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7:29
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11:08
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11:08
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11:12
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11:12
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11:12
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11:13
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11:15
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11:16
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11:16
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11:16
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11:17
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11:19
Ryan: No,
11:19
Ryan: I
11:19
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11:19
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11:20
Ryan: Jake.
11:20
Ryan: And
11:21
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11:21
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11:22
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11:23
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11:24
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11:25
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11:25
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11:25
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11:25
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11:26
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11:26
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11:27
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11:28
Ryan: Always
11:28
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11:28
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11:30
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11:30
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11:30
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11:31
Ryan: well,
11:31
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11:31
Ryan: COVID
11:32
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11:32
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11:32
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11:33
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11:33
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11:33
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11:34
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11:35
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11:36
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11:36
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11:36
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11:37
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11:38
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11:38
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11:39
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11:39
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11:40
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11:41
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11:41
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11:42
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11:42
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11:42
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11:43
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11:43
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11:43
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11:44
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11:45
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11:46
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11:47
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11:47
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11:47
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11:47
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11:49
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11:49
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11:50
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11:51
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11:51
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11:51
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11:52
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11:52
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11:53
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11:53
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11:53
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11:55
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11:55
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11:58
Jake: Yeah.
11:58
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11:59
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12:03
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12:03
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12:10
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12:14
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12:15
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12:16
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12:17
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12:17
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12:18
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12:19
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12:19
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12:20
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12:20
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12:20
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12:20
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12:21
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12:21
Jake: they're
12:21
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12:22
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12:22
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12:23
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12:24
Jake: And
12:24
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12:25
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12:25
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12:25
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12:25
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12:26
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12:26
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12:27
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12:27
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12:27
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12:28
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12:28
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12:28
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12:29
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12:29
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12:30
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12:30
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12:31
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12:31
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12:31
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12:33
Jake: And
12:33
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12:34
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12:34
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12:35
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12:35
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12:36
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12:36
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12:36
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12:36
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12:36
Jake: long-term
12:37
Jake: focus
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12:38
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12:39
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12:39
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12:39
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12:40
Jake: company
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12:41
Jake: not
12:42
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12:42
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12:43
Jake: So,
12:44
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12:44
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12:45
Jake: times
12:45
Jake: when
12:45
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12:45
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12:46
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12:46
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12:46
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12:46
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12:47
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12:47
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12:47
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12:48
Jake: Credit
12:48
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12:48
Jake: everything
12:49
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12:49
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12:49
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12:49
Jake: you
12:50
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12:50
Jake: obviously
12:50
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12:50
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12:50
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12:51
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12:51
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12:51
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12:52
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12:52
Jake: than
12:52
Jake: other
12:52
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Jake: but
12:53
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12:54
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12:54
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12:55
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12:55
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12:55
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12:55
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12:56
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12:56
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12:56
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12:56
Jake: reverse
12:58
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12:58
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12:59
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12:59
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13:01
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13:02
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13:02
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13:02
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13:03
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13:03
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13:03
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13:04
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13:04
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13:04
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13:04
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13:05
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13:05
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13:05
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13:06
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13:06
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13:07
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13:07
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13:07
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13:07
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13:08
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13:08
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13:09
Jake: It's
13:09
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13:09
Jake: hypothesis,
13:09
Jake: but
13:10
Jake: it's
13:10
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13:10
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13:11
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13:11
Jake: as
13:11
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13:11
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13:12
Jake: realistically
13:13
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13:13
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13:13
Jake: it
13:13
Jake: is.
13:14
Jake: 'cause
13:14
Jake: if
13:14
Jake: you're
13:15
Jake: a
13:15
Jake: software
13:15
Jake: engineer,
13:15
Jake: maybe
13:16
Jake: it
13:16
Jake: means
13:16
Jake: you,
13:16
Jake: you
13:16
Jake: need
13:17
Jake: less
13:17
Jake: engineers,
13:18
Jake: but
13:18
Jake: you're
13:18
Jake: still
13:18
Jake: gonna
13:18
Jake: be
13:19
Jake: developing
13:19
Jake: your
13:19
Jake: software
13:20
Jake: just
13:20
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13:21
Jake: more
13:21
Jake: rapid.
13:22
Jake: So.
13:24
Jake: There's
13:24
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13:24
Jake: there's
13:24
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13:25
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13:25
Jake: different
13:25
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13:26
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13:26
Jake: wonderful
13:26
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13:26
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13:27
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13:27
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13:27
Jake: the
13:27
Jake: stock
13:27
Jake: market.
13:28
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13:28
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13:29
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13:29
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13:29
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13:29
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13:30
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13:30
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13:30
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13:31
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13:32
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13:32
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13:33
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13:33
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13:34
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13:34
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13:35
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13:35
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13:35
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13:36
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13:36
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13:36
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13:37
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13:37
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13:37
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13:38
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13:38
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13:38
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13:38
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13:39
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13:39
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13:39
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13:39
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13:40
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13:40
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13:40
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13:40
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13:40
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13:42
Jake: But
13:42
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13:42
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13:43
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13:43
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13:43
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13:44
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13:44
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13:45
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13:48
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13:48
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13:49
Jake: Frequently
13:51
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13:51
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13:51
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13:51
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13:52
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13:52
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13:52
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13:52
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13:53
Ryan: Yeah.
13:54
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13:54
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13:55
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13:55
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13:55
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13:55
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13:55
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13:56
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13:56
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13:56
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13:56
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13:56
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13:57
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13:57
Jake: says
13:58
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13:58
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13:58
Jake: I,
13:59
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13:59
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13:59
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13:59
Jake: buy
14:00
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14:00
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14:01
Jake: I
14:01
Jake: don't
14:01
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14:01
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14:01
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14:01
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14:01
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14:02
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14:02
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14:02
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14:02
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14:03
Jake: 'cause
14:03
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14:03
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14:03
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14:03
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14:04
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14:04
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14:05
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14:05
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14:05
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14:05
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14:05
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14:07
Ryan: Y
14:07
Ryan: That's
14:07
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14:08
Ryan: I
14:08
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14:08
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14:08
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14:09
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14:09
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14:09
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14:09
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14:10
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14:10
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14:11
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14:12
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14:13
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14:14
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14:14
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14:15
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14:16
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14:17
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14:18
Ryan: That's
14:18
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14:19
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14:19
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14:19
Ryan: something
14:20
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14:20
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14:21
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14:22
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14:22
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14:22
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14:23
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14:23
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14:24
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14:24
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14:24
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14:24
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14:25
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14:26
Jake: Yeah,
14:27
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14:29
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14:29
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14:30
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14:30
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14:30
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14:30
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14:30
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14:31
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14:31
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14:31
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14:32
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14:32
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14:32
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14:32
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14:32
Jake: games,
14:33
Jake: playing
14:33
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14:34
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14:34
Jake: or
14:34
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14:35
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14:35
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14:36
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14:36
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14:37
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14:37
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14:37
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14:38
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14:38
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14:38
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14:38
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14:40
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14:40
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14:43
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14:43
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14:44
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14:44
Jake: keep
14:44
Jake: going
14:44
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14:45
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14:45
Jake: deeper,
14:45
Jake: deeper,
14:45
Jake: deeper.
14:46
Jake: It's
14:46
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14:47
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14:47
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14:48
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14:48
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14:49
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14:49
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14:51
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14:51
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14:52
Jake: the
14:52
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14:52
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14:53
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14:54
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14:54
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14:54
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14:54
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14:54
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14:54
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14:55
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14:55
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14:55
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14:56
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14:57
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14:57
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14:57
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14:58
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14:58
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14:58
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14:59
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14:59
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14:59
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15:00
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15:03
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15:06
Jake: of
15:06
Jake: see
15:07
Jake: like
15:07
Jake: the,
15:07
Jake: the,
15:08
Jake: the
15:08
Jake: activity
15:09
Jake: and
15:09
Jake: behavior
15:09
Jake: of,
15:10
Jake: of
15:10
Jake: homo
15:10
Jake: sapiens,
15:11
Jake: you
15:11
Jake: might
15:11
Jake: go
15:11
Jake: to
15:11
Jake: the
15:11
Jake: stock
15:11
Jake: market
15:12
Jake: to
15:12
Jake: actually
15:12
Jake: see
15:13
Jake: what's
15:14
Jake: really
15:14
Jake: going
15:14
Jake: on
15:14
Jake: at
15:15
Jake: a
15:15
Jake: kind
15:15
Jake: of
15:15
Jake: fundamental
15:16
Jake: level.
15:17
Jake: Both
15:17
Jake: in
15:17
Jake: how
15:17
Jake: we
15:17
Jake: perceive
15:18
Jake: things,
15:18
Jake: but
15:19
Jake: on
15:19
Jake: actually
15:19
Jake: also
15:19
Jake: what's
15:20
Jake: happening.
15:21
Jake: The
15:21
Jake: two,
15:21
Jake: which
15:21
Jake: are
15:21
Jake: not
15:22
Jake: the
15:22
Jake: same
15:22
Jake: thing.
15:23
Jake: So.
15:24
Ryan: I
15:24
Ryan: love
15:25
Ryan: it.
15:25
Ryan: So
15:25
Ryan: let's
15:26
Ryan: talk
15:26
Ryan: about
15:26
Ryan: AI
15:28
Ryan: with
15:28
Ryan: three
15:28
Ryan: ai.
15:29
Ryan: know,
15:30
Ryan: Zephyr
15:31
Ryan: was
15:31
Ryan: created,
15:31
Ryan: you
15:32
Ryan: know,
15:32
Ryan: years
15:33
Ryan: and
15:33
Ryan: years
15:33
Ryan: ago,
15:33
Ryan: technology,
15:35
Ryan: and
15:35
Ryan: it
15:35
Ryan: was
15:35
Ryan: based
15:36
Ryan: on
15:36
Ryan: Dr.
15:36
Ryan: Bill
15:36
Ryan: Sharp's,
15:37
Ryan: returns
15:37
Ryan: based
15:38
Ryan: style
15:38
Ryan: analysis.
15:39
Ryan: At
15:39
Ryan: the
15:40
Ryan: time,
15:40
Ryan: it
15:41
Ryan: was
15:41
Ryan: pretty,
15:41
Ryan: you
15:41
Ryan: know,
15:42
Ryan: moving.
15:42
Ryan: It
15:42
Ryan: was
15:43
Ryan: like,
15:43
Ryan: wow,
15:43
Ryan: we
15:43
Ryan: can
15:44
Ryan: determine
15:44
Ryan: the.
15:45
Ryan: The
15:45
Ryan: style,
15:46
Ryan: the
15:46
Ryan: behavioral,
15:48
Ryan: through
15:48
Ryan: just
15:48
Ryan: tracking,
15:49
Ryan: you
15:49
Ryan: know,
15:49
Ryan: re
15:50
Ryan: returns,
15:50
Ryan: regression,
15:52
Ryan: and
15:52
Ryan: time
15:52
Ryan: over.
15:53
Ryan: A
15:53
Ryan: manager
15:53
Ryan: for
15:53
Ryan: a
15:54
Ryan: manager.
15:54
Ryan: So
15:54
Ryan: some
15:55
Ryan: great
15:55
Ryan: stuff
15:56
Ryan: there.
15:56
Ryan: Now
15:57
Ryan: we're
15:57
Ryan: advanced
15:57
Ryan: to
15:58
Ryan: ai.
15:58
Ryan: What
15:58
Ryan: impact
15:59
Ryan: can
15:59
Ryan: AI
16:00
Ryan: have
16:00
Ryan: on
16:00
Ryan: investment
16:01
Ryan: management
16:01
Ryan: space
16:02
Ryan: and,
16:02
Ryan: and
16:02
Ryan: picking
16:02
Ryan: stocks?
16:06
Jake: A
16:06
Jake: lot.
16:07
Jake: I'll,
16:07
Jake: I'll,
16:07
Jake: I'll,
16:07
Jake: I'll
16:08
Jake: be
16:08
Jake: honest.
16:08
Jake: So
16:09
Jake: if,
16:09
Jake: if
16:09
Jake: we,
16:09
Jake: if
16:09
Jake: we
16:09
Jake: think
16:10
Jake: about
16:10
Jake: the
16:11
Jake: terminals.
16:12
Jake: That
16:12
Jake: traders,
16:13
Jake: investors,
16:14
Jake: the,
16:15
Jake: the
16:15
Jake: financial
16:15
Jake: market
16:16
Jake: community
16:16
Jake: have
16:16
Jake: access
16:16
Jake: to
16:17
Jake: today.
16:18
Jake: They're
16:18
Jake: really
16:18
Jake: an
16:19
Jake: information
16:19
Jake: layer.
16:21
Jake: So
16:22
Jake: they're,
16:22
Jake: they're
16:22
Jake: kind
16:22
Jake: of
16:23
Jake: their
16:23
Jake: database
16:24
Jake: with
16:24
Jake: a
16:24
Jake: ton
16:24
Jake: of
16:24
Jake: different
16:25
Jake: data
16:25
Jake: sets,
16:26
Jake: nice,
16:26
Jake: gooey,
16:26
Jake: and,
16:27
Jake: and,
16:27
Jake: and
16:27
Jake: very
16:27
Jake: usable
16:28
Jake: analytics.
16:28
Jake: It's
16:28
Jake: been
16:29
Jake: really
16:29
Jake: developed
16:29
Jake: over
16:30
Jake: many,
16:30
Jake: multiple
16:30
Jake: decades
16:32
Jake: four
16:32
Jake: decades
16:33
Jake: in
16:33
Jake: case
16:33
Jake: of
16:33
Jake: Bloomberg
16:34
Jake: since
16:34
Jake: 81.
16:36
Jake: But
16:36
Jake: they're
16:36
Jake: really
16:36
Jake: an
16:36
Jake: information
16:37
Jake: layer.
16:37
Jake: So
16:37
Jake: whilst
16:37
Jake: they,
16:38
Jake: they
16:38
Jake: got
16:38
Jake: rid
16:38
Jake: of
16:38
Jake: the.
16:39
Jake: Data
16:40
Jake: bottleneck.
16:40
Jake: You
16:41
Jake: go
16:41
Jake: back
16:41
Jake: to
16:41
Jake: ticket
16:41
Jake: tape,
16:41
Jake: you've
16:42
Jake: got
16:42
Jake: data
16:42
Jake: bottleneck.
16:42
Jake: You've
16:42
Jake: gotta
16:43
Jake: go
16:43
Jake: and
16:44
Jake: contact
16:45
Jake: the
16:45
Jake: company
16:45
Jake: by
16:45
Jake: telephone
16:46
Jake: and,
16:46
Jake: and
16:47
Jake: hope
16:47
Jake: that
16:47
Jake: they
16:47
Jake: send
16:47
Jake: you
16:47
Jake: the
16:47
Jake: accounts
16:48
Jake: and
16:48
Jake: look
16:48
Jake: in
16:48
Jake: the
16:48
Jake: post
16:49
Jake: every
16:49
Jake: day.
16:49
Jake: Yay,
16:49
Jake: we've
16:50
Jake: got
16:50
Jake: the
16:50
Jake: accounts.
16:50
Jake: Pass
16:51
Jake: it
16:51
Jake: to
16:51
Jake: somebody
16:51
Jake: who's
16:51
Jake: then
16:51
Jake: gonna
16:51
Jake: write
16:52
Jake: it
16:52
Jake: all
16:52
Jake: up
16:52
Jake: on
16:52
Jake: paper
16:53
Jake: and
16:54
Jake: you
16:54
Jake: haven't
16:54
Jake: even
16:54
Jake: got
16:54
Jake: a
16:54
Jake: spreadsheet,
16:55
Jake: right?
16:55
Jake: And
16:55
Jake: then
16:55
Jake: you're
16:55
Jake: analyzing
16:56
Jake: that,
16:56
Jake: et
16:56
Jake: cetera,
16:56
Jake: et
16:57
Jake: cetera.
16:57
Jake: So
16:57
Jake: there
16:58
Jake: was
16:58
Jake: a,
16:58
Jake: a
16:58
Jake: data
16:58
Jake: sourcing
16:59
Jake: bottleneck,
16:59
Jake: just,
17:00
Jake: just
17:00
Jake: probably
17:00
Jake: having
17:00
Jake: access
17:01
Jake: to
17:01
Jake: information
17:01
Jake: was
17:01
Jake: the
17:02
Jake: edge.
17:02
Jake: Think
17:02
Jake: about
17:02
Jake: Warren
17:03
Jake: Buffet
17:03
Jake: when
17:03
Jake: he
17:03
Jake: started.
17:05
Jake: He
17:05
Jake: was
17:05
Jake: buying
17:05
Jake: the
17:05
Jake: investors
17:06
Jake: Almanac
17:06
Jake: and
17:06
Jake: literally
17:07
Jake: looking
17:07
Jake: at
17:07
Jake: things
17:07
Jake: like
17:08
Jake: price
17:08
Jake: to
17:08
Jake: earnings
17:08
Jake: ratio
17:09
Jake: and
17:09
Jake: going,
17:09
Jake: whoa,
17:09
Jake: this
17:10
Jake: thing
17:10
Jake: looks
17:10
Jake: so
17:10
Jake: cheap.
17:11
Jake: It's
17:11
Jake: half
17:11
Jake: book
17:11
Jake: value
17:12
Jake: with
17:12
Jake: a
17:12
Jake: 25%
17:12
Jake: yield,
17:13
Jake: and
17:14
Jake: profits
17:14
Jake: seem
17:14
Jake: stable.
17:15
Jake: So
17:15
Jake: it
17:15
Jake: is
17:16
Jake: a
17:16
Jake: wonderful
17:16
Jake: bond
17:17
Jake: at
17:17
Jake: 25%
17:18
Jake: yield
17:18
Jake: and
17:18
Jake: or
17:19
Jake: even
17:19
Jake: if
17:19
Jake: it
17:19
Jake: got
17:19
Jake: acquired
17:20
Jake: or
17:20
Jake: exited,
17:21
Jake: there's
17:21
Jake: gonna,
17:21
Jake: there,
17:22
Jake: there's
17:22
Jake: a
17:22
Jake: lot
17:22
Jake: of
17:22
Jake: realizable
17:23
Jake: value
17:23
Jake: too
17:23
Jake: dollars
17:23
Jake: for
17:24
Jake: every
17:24
Jake: dollar
17:24
Jake: I'm
17:24
Jake: buying
17:24
Jake: on
17:25
Jake: it,
17:25
Jake: but
17:25
Jake: she
17:25
Jake: called
17:25
Jake: cigar
17:26
Jake: by
17:26
Jake: investing.
17:27
Jake: But
17:27
Jake: the
17:27
Jake: fundamental.
17:28
Jake: Thing
17:28
Jake: that
17:29
Jake: he
17:29
Jake: was
17:29
Jake: doing
17:29
Jake: was
17:30
Jake: effectively
17:30
Jake: stock
17:30
Jake: screening
17:31
Jake: with
17:31
Jake: his
17:31
Jake: own
17:31
Jake: mind,
17:32
Jake: looking
17:32
Jake: at
17:32
Jake: basic
17:32
Jake: metrics,
17:33
Jake: right?
17:33
Jake: So
17:34
Jake: he
17:34
Jake: was
17:34
Jake: a
17:34
Jake: step
17:34
Jake: ahead
17:34
Jake: of
17:34
Jake: most,
17:35
Jake: most
17:35
Jake: people
17:35
Jake: don't
17:36
Jake: like
17:36
Jake: looking
17:36
Jake: at
17:36
Jake: data,
17:37
Jake: they
17:37
Jake: find
17:37
Jake: it
17:38
Jake: yucky.
17:38
Jake: But
17:39
Jake: what
17:39
Jake: we're
17:39
Jake: doing
17:39
Jake: now
17:39
Jake: at
17:39
Jake: three
17:40
Jake: ai,
17:40
Jake: so
17:40
Jake: if
17:40
Jake: we
17:40
Jake: think
17:41
Jake: of
17:41
Jake: the
17:41
Jake: people
17:41
Jake: part
17:42
Jake: of
17:42
Jake: our
17:42
Jake: empowerment,
17:44
Jake: we
17:45
Jake: are
17:45
Jake: essentially
17:45
Jake: taking
17:46
Jake: all
17:46
Jake: that
17:46
Jake: kind
17:46
Jake: of
17:46
Jake: data
17:47
Jake: that's
17:47
Jake: in,
17:47
Jake: in
17:47
Jake: a
17:47
Jake: terminal,
17:48
Jake: that
17:48
Jake: financial
17:48
Jake: data,
17:49
Jake: the
17:49
Jake: analyst
17:49
Jake: reports,
17:50
Jake: the
17:50
Jake: financial
17:51
Jake: forecast
17:52
Jake: of
17:52
Jake: the
17:52
Jake: future,
17:53
Jake: technical
17:53
Jake: price,
17:53
Jake: behavior
17:54
Jake: risk,
17:55
Jake: et
17:55
Jake: cetera,
17:55
Jake: et
17:55
Jake: cetera.
17:57
Jake: And
17:57
Jake: we're
17:57
Jake: using
17:58
Jake: machine
17:58
Jake: learning
17:59
Jake: methods
18:00
Jake: to
18:00
Jake: analyze
18:01
Jake: the
18:01
Jake: entire
18:01
Jake: history
18:02
Jake: of
18:02
Jake: the,
18:02
Jake: of,
18:02
Jake: of,
18:02
Jake: of
18:03
Jake: all
18:03
Jake: stocks
18:04
Jake: and
18:04
Jake: learn
18:04
Jake: from
18:04
Jake: all
18:05
Jake: of
18:05
Jake: it.
18:05
Jake: And
18:06
Jake: then
18:06
Jake: look
18:06
Jake: at
18:06
Jake: all
18:06
Jake: of
18:07
Jake: today's
18:07
Jake: data
18:07
Jake: for
18:07
Jake: all
18:08
Jake: stocks
18:09
Jake: to
18:09
Jake: be
18:09
Jake: able
18:09
Jake: to
18:09
Jake: then
18:10
Jake: forecast
18:10
Jake: them
18:10
Jake: for
18:11
Jake: tomorrow
18:11
Jake: or
18:12
Jake: in
18:12
Jake: our
18:12
Jake: case,
18:12
Jake: the
18:12
Jake: next
18:12
Jake: 12
18:13
Jake: months.
18:13
Jake: So
18:14
Jake: what
18:14
Jake: that's
18:15
Jake: offering,
18:15
Jake: I
18:15
Jake: think,
18:15
Jake: as
18:15
Jake: a
18:15
Jake: solution
18:16
Jake: is,
18:16
Jake: is
18:17
Jake: we're
18:17
Jake: going
18:17
Jake: from
18:18
Jake: data
18:18
Jake: sourcing
18:19
Jake: being
18:19
Jake: the
18:19
Jake: bottleneck
18:20
Jake: to,
18:21
Jake: and
18:22
Jake: but.
18:22
Jake: Being
18:23
Jake: then
18:23
Jake: solved
18:23
Jake: by
18:23
Jake: terminals
18:24
Jake: so
18:24
Jake: that
18:25
Jake: analysis
18:25
Jake: then
18:26
Jake: becomes
18:26
Jake: the
18:26
Jake: bottleneck,
18:26
Jake: right?
18:28
Jake: What
18:28
Jake: we
18:28
Jake: are
18:28
Jake: doing
18:28
Jake: is,
18:29
Jake: is
18:29
Jake: essentially
18:29
Jake: then
18:29
Jake: taking
18:30
Jake: all
18:30
Jake: that
18:30
Jake: data
18:31
Jake: and
18:31
Jake: condensing
18:32
Jake: it
18:32
Jake: into
18:32
Jake: a
18:32
Jake: single
18:33
Jake: number
18:33
Jake: that
18:34
Jake: people
18:34
Jake: care
18:34
Jake: about,
18:34
Jake: which
18:35
Jake: is
18:35
Jake: an
18:35
Jake: alpha
18:36
Jake: forecast.
18:37
Jake: And
18:37
Jake: also,
18:38
Jake: most
18:39
Jake: recently
18:40
Jake: we
18:40
Jake: have
18:40
Jake: effectively
18:41
Jake: quite
18:41
Jake: deep
18:42
Jake: stock
18:42
Jake: research
18:43
Jake: reports.
18:43
Jake: So
18:43
Jake: about
18:43
Jake: 15
18:43
Jake: pages
18:44
Jake: long
18:45
Jake: per
18:45
Jake: stock,
18:45
Jake: 20,000
18:46
Jake: stocks.
18:46
Jake: That's
18:46
Jake: 300,000
18:47
Jake: pages
18:48
Jake: of
18:48
Jake: equity
18:48
Jake: research
18:48
Jake: being
18:49
Jake: generated
18:49
Jake: a
18:49
Jake: week.
18:51
Jake: Which
18:51
Jake: is
18:51
Jake: readable
18:52
Jake: by
18:52
Jake: PMs
18:53
Jake: and,
18:53
Jake: and,
18:53
Jake: and,
18:53
Jake: and,
18:53
Jake: and
18:53
Jake: also.
18:54
Jake: Then
18:55
Jake: deeper,
18:55
Jake: even
18:55
Jake: analyzes
18:56
Jake: our
18:56
Jake: own
18:57
Jake: AI
18:57
Jake: to
18:58
Jake: look
18:59
Jake: at
18:59
Jake: what
18:59
Jake: to
18:59
Jake: watch
18:59
Jake: out
19:00
Jake: for,
19:00
Jake: what
19:00
Jake: could,
19:00
Jake: what
19:01
Jake: could
19:01
Jake: really
19:01
Jake: move
19:01
Jake: the
19:01
Jake: needle
19:02
Jake: or
19:02
Jake: flip
19:02
Jake: the
19:02
Jake: view
19:02
Jake: on
19:03
Jake: a
19:03
Jake: particular
19:03
Jake: stock?
19:04
Jake: What's
19:04
Jake: driving
19:04
Jake: it,
19:04
Jake: what's
19:05
Jake: not
19:05
Jake: driving
19:05
Jake: it?
19:06
Jake: And
19:06
Jake: we
19:06
Jake: found
19:07
Jake: our
19:07
Jake: alpha
19:07
Jake: intelligence
19:08
Jake: is
19:08
Jake: basically
19:08
Jake: incredibly
19:09
Jake: intelligent.
19:09
Jake: It,
19:09
Jake: it's,
19:10
Jake: it's,
19:10
Jake: it's
19:10
Jake: unlike
19:11
Jake: a
19:11
Jake: human
19:12
Jake: research
19:12
Jake: report,
19:13
Jake: it's
19:13
Jake: incredibly
19:13
Jake: specific.
19:14
Jake: You
19:15
Jake: know,
19:15
Jake: think
19:15
Jake: about
19:15
Jake: the
19:15
Jake: future.
19:16
Jake: An
19:16
Jake: AI
19:16
Jake: doctor,
19:16
Jake: a
19:17
Jake: human
19:17
Jake: doctor,
19:18
Jake: human
19:18
Jake: doctor
19:18
Jake: says,
19:18
Jake: Ooh,
19:19
Jake: I
19:19
Jake: think
19:19
Jake: we
19:19
Jake: need
19:19
Jake: to
19:19
Jake: give
19:19
Jake: you
19:19
Jake: a
19:19
Jake: scan
19:20
Jake: there.
19:20
Jake: There's
19:20
Jake: risk.
19:21
Jake: You
19:21
Jake: go,
19:21
Jake: oh
19:21
Jake: my
19:21
Jake: God,
19:22
Jake: I've
19:22
Jake: definitely
19:23
Jake: got
19:23
Jake: cancer.
19:24
Jake: The
19:24
Jake: AI
19:24
Jake: doctor
19:24
Jake: will
19:25
Jake: say,
19:25
Jake: I,
19:25
Jake: I,
19:26
Jake: I
19:26
Jake: think,
19:26
Jake: you
19:26
Jake: know,
19:26
Jake: there's
19:26
Jake: a
19:26
Jake: 16.3985%
19:28
Jake: chance
19:29
Jake: that
19:29
Jake: you
19:29
Jake: have
19:29
Jake: this
19:30
Jake: and
19:30
Jake: a
19:30
Jake: 4%
19:30
Jake: chance
19:31
Jake: of
19:31
Jake: this,
19:31
Jake: and
19:31
Jake: a
19:31
Jake: 1%
19:31
Jake: chance
19:32
Jake: of
19:32
Jake: that
19:32
Jake: type
19:32
Jake: of
19:32
Jake: cancer.
19:33
Jake: And,
19:33
Jake: and
19:33
Jake: the
19:33
Jake: rest.
19:34
Jake: It's
19:34
Jake: a
19:35
Jake: property
19:35
Jake: of
19:35
Jake: no
19:35
Jake: cancer.
19:36
Jake: That's
19:37
Jake: what
19:37
Jake: we
19:37
Jake: find
19:37
Jake: with
19:37
Jake: our
19:37
Jake: alpha
19:38
Jake: intelligence.
19:38
Jake: It's
19:38
Jake: completely
19:39
Jake: specific
19:40
Jake: and
19:40
Jake: it's
19:40
Jake: able
19:40
Jake: to
19:40
Jake: unlock
19:41
Jake: a,
19:41
Jake: a
19:41
Jake: very
19:42
Jake: deep
19:42
Jake: analysis
19:42
Jake: of
19:43
Jake: each
19:43
Jake: stock.
19:43
Jake: In
19:43
Jake: our
19:43
Jake: case,
19:44
Jake: we've
19:44
Jake: got
19:45
Jake: over
19:45
Jake: 300
19:45
Jake: factors
19:46
Jake: or
19:46
Jake: models
19:47
Jake: that
19:47
Jake: the
19:47
Jake: AI
19:47
Jake: looks
19:48
Jake: at
19:48
Jake: on
19:48
Jake: every
19:48
Jake: single
19:48
Jake: stock
19:49
Jake: across
19:49
Jake: over
19:49
Jake: 20,000.
19:51
Jake: But
19:51
Jake: at
19:51
Jake: the
19:51
Jake: micro
19:52
Jake: level,
19:52
Jake: we
19:52
Jake: also
19:52
Jake: have
19:52
Jake: global
19:53
Jake: macro
19:54
Jake: sorry,
19:54
Jake: macro,
19:54
Jake: so
19:55
Jake: macroeconomics
19:56
Jake: and
19:56
Jake: a
19:56
Jake: kind
19:56
Jake: of
19:56
Jake: top
19:56
Jake: down
19:57
Jake: alpha
19:57
Jake: as
19:57
Jake: well
19:57
Jake: as
19:57
Jake: a
19:57
Jake: bottom
19:58
Jake: up
19:58
Jake: alpha
19:59
Jake: all
19:59
Jake: combined
19:59
Jake: together.
19:59
Jake: So.
20:01
Jake: What
20:01
Jake: then
20:01
Jake: I
20:01
Jake: think
20:01
Jake: that
20:02
Jake: unlocks
20:02
Jake: for
20:02
Jake: the
20:02
Jake: investment
20:03
Jake: manager
20:03
Jake: is
20:03
Jake: it
20:03
Jake: gets
20:04
Jake: rid
20:04
Jake: of
20:04
Jake: the
20:04
Jake: analysis
20:04
Jake: bottleneck.
20:06
Jake: It
20:06
Jake: really
20:06
Jake: turns
20:07
Jake: all
20:07
Jake: of
20:07
Jake: that
20:07
Jake: information
20:08
Jake: in
20:08
Jake: a
20:08
Jake: way
20:08
Jake: that
20:08
Jake: a
20:08
Jake: human
20:09
Jake: would
20:09
Jake: not
20:09
Jake: have
20:10
Jake: the
20:10
Jake: time
20:10
Jake: to
20:10
Jake: do.
20:11
Jake: E
20:12
Jake: even
20:12
Jake: a
20:12
Jake: quant
20:12
Jake: would
20:12
Jake: not
20:13
Jake: have
20:13
Jake: the
20:13
Jake: time
20:13
Jake: to
20:13
Jake: do
20:14
Jake: traditionally.
20:15
Jake: So
20:15
Jake: I
20:15
Jake: think
20:16
Jake: for
20:16
Jake: a
20:17
Jake: an
20:17
Jake: active
20:17
Jake: manager,
20:18
Jake: this
20:19
Jake: is
20:19
Jake: effectively
20:19
Jake: a
20:19
Jake: quant
20:20
Jake: shield.
20:21
Jake: So
20:21
Jake: the,
20:22
Jake: the,
20:22
Jake: all
20:22
Jake: that
20:22
Jake: alpha
20:23
Jake: that
20:23
Jake: was
20:23
Jake: being
20:23
Jake: eaten
20:23
Jake: by
20:24
Jake: quants,
20:24
Jake: we
20:24
Jake: see
20:25
Jake: the
20:25
Jake: massive
20:25
Jake: rise
20:25
Jake: in
20:25
Jake: the
20:26
Jake: systematic
20:26
Jake: hedge
20:26
Jake: fund
20:26
Jake: industry.
20:27
Jake: There
20:28
Jake: were,
20:28
Jake: there
20:28
Jake: were
20:28
Jake: basically
20:29
Jake: the
20:29
Jake: evidence-based
20:30
Jake: approach
20:30
Jake: to
20:30
Jake: data
20:31
Jake: and
20:31
Jake: using
20:31
Jake: data
20:31
Jake: science
20:32
Jake: and
20:32
Jake: statistics
20:32
Jake: and,
20:33
Jake: and
20:33
Jake: algorithms.
20:34
Jake: It's
20:34
Jake: that
20:35
Jake: on
20:35
Jake: the
20:35
Jake: plate.
20:36
Jake: Without
20:36
Jake: needing
20:36
Jake: to
20:37
Jake: necessarily
20:37
Jake: know
20:37
Jake: why,
20:38
Jake: but
20:38
Jake: but
20:39
Jake: also
20:39
Jake: having
20:39
Jake: the
20:39
Jake: information
20:40
Jake: and
20:40
Jake: explainability
20:41
Jake: to
20:41
Jake: how
20:41
Jake: it
20:41
Jake: relates
20:42
Jake: to
20:42
Jake: that
20:42
Jake: stock
20:43
Jake: and
20:43
Jake: how
20:43
Jake: to
20:43
Jake: analyze
20:43
Jake: it
20:43
Jake: and
20:44
Jake: how
20:44
Jake: to
20:44
Jake: think
20:44
Jake: about
20:44
Jake: it.
20:45
Jake: That's
20:46
Jake: one
20:46
Jake: aspect.
20:46
Jake: The
20:46
Jake: other
20:47
Jake: two
20:47
Jake: are
20:47
Jake: the
20:47
Jake: other
20:47
Jake: two
20:47
Jake: products
20:48
Jake: that
20:48
Jake: we
20:48
Jake: spoke
20:48
Jake: about.
20:48
Jake: So
20:49
Jake: for
20:49
Jake: quants,
20:49
Jake: we're
20:49
Jake: able
20:50
Jake: to
20:50
Jake: give
20:50
Jake: them
20:50
Jake: our
20:50
Jake: forecast,
20:51
Jake: ingest
20:51
Jake: it
20:51
Jake: into
20:52
Jake: their
20:52
Jake: systems
20:52
Jake: to
20:52
Jake: enhance
20:53
Jake: them,
20:54
Jake: and
20:54
Jake: finally,
20:54
Jake: for
20:55
Jake: the
20:55
Jake: creation
20:55
Jake: of
20:55
Jake: products,
20:56
Jake: like
20:56
Jake: wanna
20:56
Jake: create
20:56
Jake: a
20:56
Jake: new
20:56
Jake: ETFA
20:57
Jake: new
20:57
Jake: index,
20:58
Jake: then
20:58
Jake: it's
20:58
Jake: very
20:58
Jake: easy
20:58
Jake: to
20:59
Jake: use
20:59
Jake: our
20:59
Jake: data.
20:59
Jake: It's
20:59
Jake: all
20:59
Jake: stock
21:00
Jake: mapped,
21:00
Jake: it's
21:00
Jake: ranked
21:01
Jake: it's
21:01
Jake: forecast.
21:02
Jake: It's
21:02
Jake: very
21:03
Jake: easy
21:03
Jake: to
21:03
Jake: construct.
21:04
Jake: AI
21:04
Jake: enhanced
21:05
Jake: portfolios.
21:06
Jake: So
21:07
Jake: I
21:07
Jake: think
21:07
Jake: that's,
21:08
Jake: that,
21:08
Jake: that's
21:08
Jake: the
21:08
Jake: three
21:08
Jake: that
21:09
Jake: we're
21:09
Jake: immediately
21:09
Jake: seeing
21:10
Jake: that
21:10
Jake: we're
21:10
Jake: working
21:10
Jake: on
21:10
Jake: and,
21:11
Jake: and
21:11
Jake: that
21:11
Jake: we're,
21:11
Jake: we're
21:11
Jake: delivering.
21:13
Ryan: Yeah,
21:13
Ryan: that's
21:14
Ryan: fantastic.
21:14
Ryan: And
21:15
Ryan: sometimes
21:15
Ryan: I
21:15
Ryan: feel
21:16
Ryan: as
21:16
Ryan: if,
21:16
Ryan: and
21:16
Ryan: you
21:16
Ryan: mentioned
21:17
Ryan: it
21:17
Ryan: numerous
21:18
Ryan: times,
21:18
Ryan: or
21:18
Ryan: about
21:18
Ryan: AI
21:19
Ryan: just
21:20
Ryan: in
21:20
Ryan: general,
21:21
Ryan: we
21:21
Ryan: think
21:21
Ryan: of
21:21
Ryan: AI
21:22
Ryan: in
21:22
Ryan: a
21:22
Ryan: broader
21:23
Ryan: sense
21:23
Ryan: of
21:23
Ryan: just
21:23
Ryan: making
21:24
Ryan: things
21:24
Ryan: more
21:24
Ryan: efficient,
21:25
Ryan: processes,
21:27
Ryan: you
21:27
Ryan: know,
21:28
Ryan: given
21:28
Ryan: us
21:28
Ryan: some
21:28
Ryan: time
21:29
Ryan: back
21:29
Ryan: in
21:29
Ryan: our
21:29
Ryan: day.
21:30
Ryan: But
21:31
Ryan: at
21:31
Ryan: the
21:31
Ryan: end
21:31
Ryan: of
21:31
Ryan: the
21:31
Ryan: day,
21:31
Ryan: what
21:31
Ryan: AI
21:33
Ryan: best,
21:33
Ryan: and
21:33
Ryan: I
21:33
Ryan: might
21:34
Ryan: be
21:34
Ryan: probably
21:34
Ryan: oversimplifying
21:35
Ryan: it
21:35
Ryan: here,
21:36
Ryan: is
21:37
Ryan: just
21:37
Ryan: taking
21:38
Ryan: huge
21:38
Ryan: sums
21:39
Ryan: of
21:39
Ryan: data,
21:39
Ryan: synthesizing
21:40
Ryan: it,
21:41
Ryan: and
21:41
Ryan: making
21:41
Ryan: it
21:41
Ryan: intelligible,
21:43
Ryan: correct.
21:43
Ryan: Like
21:44
Ryan: that's
21:44
Ryan: at
21:44
Ryan: the
21:45
Ryan: end
21:45
Ryan: of
21:45
Ryan: the
21:45
Ryan: day,
21:45
Ryan: what
21:45
Ryan: AI
21:46
Ryan: is
21:46
Ryan: doing.
21:46
Ryan: So
21:46
Ryan: like
21:47
Ryan: you
21:47
Ryan: said,
21:48
Ryan: humans
21:49
Ryan: aren't
21:49
Ryan: good
21:49
Ryan: at
21:49
Ryan: just
21:50
Ryan: creating,
21:50
Ryan: looking
21:50
Ryan: at
21:51
Ryan: millions
21:52
Ryan: of
21:52
Ryan: lines
21:52
Ryan: of
21:52
Ryan: data.
21:53
Ryan: Whereas
21:53
Ryan: AI
21:54
Ryan: can
21:54
Ryan: do
21:54
Ryan: that
21:55
Ryan: and
21:55
Ryan: make
21:55
Ryan: sense
21:55
Ryan: of
21:56
Ryan: it
21:56
Ryan: all,
21:58
Ryan: and
21:58
Ryan: that's
21:58
Ryan: really
21:59
Ryan: what
21:59
Ryan: you
21:59
Ryan: guys
21:59
Ryan: have
21:59
Ryan: done.
22:01
Jake: Yes.
22:02
Jake: Yeah,
22:02
Jake: it's
22:02
Jake: a
22:03
Jake: bit
22:03
Jake: more
22:03
Jake: complic.
22:03
Jake: I
22:04
Jake: mean,
22:04
Jake: yeah,
22:05
Jake: it's,
22:06
Jake: what
22:06
Jake: I
22:06
Jake: will
22:06
Jake: say
22:07
Jake: about
22:07
Jake: AI
22:07
Jake: is
22:07
Jake: that
22:08
Jake: AI
22:08
Jake: is,
22:08
Jake: is
22:09
Jake: almost
22:09
Jake: as
22:09
Jake: unique
22:10
Jake: as
22:10
Jake: people.
22:10
Jake: So
22:11
Jake: people
22:11
Jake: think
22:12
Jake: AI
22:12
Jake: is
22:12
Jake: one
22:12
Jake: thing,
22:13
Jake: but
22:13
Jake: it's
22:13
Jake: really
22:13
Jake: not.
22:13
Jake: It's
22:14
Jake: a,
22:14
Jake: so.
22:16
Jake: In,
22:16
Jake: in
22:16
Jake: the
22:17
Jake: financial
22:17
Jake: system.
22:18
Jake: We
22:18
Jake: would
22:18
Jake: even
22:19
Jake: today
22:19
Jake: find,
22:20
Jake: I
22:20
Jake: suspect,
22:21
Jake: thousands
22:21
Jake: of
22:21
Jake: AI
22:22
Jake: systems,
22:23
Jake: depending
22:23
Jake: on
22:23
Jake: how
22:23
Jake: we
22:23
Jake: classify
22:24
Jake: ai.
22:24
Jake: I,
22:24
Jake: I
22:24
Jake: think
22:25
Jake: of
22:25
Jake: it
22:25
Jake: as
22:25
Jake: machine
22:25
Jake: learning.
22:26
Jake: We'd
22:26
Jake: find
22:26
Jake: thousands
22:27
Jake: of
22:27
Jake: them
22:27
Jake: distributed
22:28
Jake: across
22:28
Jake: the
22:28
Jake: world,
22:29
Jake: primarily
22:29
Jake: in
22:29
Jake: the
22:29
Jake: us
22:30
Jake: It's
22:30
Jake: the
22:30
Jake: most
22:30
Jake: advanced
22:31
Jake: sector
22:31
Jake: it's
22:32
Jake: most
22:32
Jake: advanced
22:32
Jake: region,
22:32
Jake: sorry.
22:33
Jake: But,
22:34
Jake: but
22:34
Jake: EE
22:35
Jake: each
22:35
Jake: one
22:36
Jake: is,
22:36
Jake: is
22:36
Jake: as
22:36
Jake: unique
22:37
Jake: as
22:37
Jake: the
22:37
Jake: designers
22:38
Jake: and,
22:39
Jake: and
22:39
Jake: we
22:40
Jake: are,
22:40
Jake: we're
22:41
Jake: quite.
22:42
Jake: I
22:42
Jake: think
22:43
Jake: in,
22:43
Jake: in,
22:43
Jake: in,
22:43
Jake: in
22:44
Jake: really
22:44
Jake: approaching
22:45
Jake: the,
22:45
Jake: the
22:45
Jake: Ben
22:46
Jake: Graham,
22:46
Jake: the
22:46
Jake: Warren
22:46
Jake: Buffet
22:47
Jake: kind
22:47
Jake: of
22:47
Jake: learning
22:48
Jake: and
22:48
Jake: bringing
22:49
Jake: that
22:49
Jake: into
22:49
Jake: the
22:49
Jake: AI
22:49
Jake: world
22:50
Jake: or,
22:50
Jake: or,
22:50
Jake: or
22:50
Jake: should
22:50
Jake: we
22:50
Jake: say,
22:51
Jake: beginning
22:51
Jake: with
22:51
Jake: the
22:51
Jake: hypothesis
22:52
Jake: of
22:52
Jake: is
22:52
Jake: it
22:52
Jake: learnable
22:53
Jake: through
22:53
Jake: data,
22:54
Jake: how
22:54
Jake: this
22:54
Jake: stuff
22:54
Jake: works?
22:55
Ryan: Yeah,
22:57
Jake: so.
22:57
Ryan: that's
22:59
Ryan: So.
23:00
Ryan: of
23:00
Ryan: touched
23:00
Ryan: on
23:01
Ryan: it
23:01
Ryan: earlier,
23:01
Ryan: and
23:02
Ryan: it's
23:02
Ryan: part
23:02
Ryan: of,
23:02
Ryan: you
23:03
Ryan: know,
23:03
Ryan: the
23:03
Ryan: name
23:03
Ryan: of
23:04
Ryan: your
23:04
Ryan: scoring
23:04
Ryan: system,
23:05
Ryan: alpha.
23:06
Ryan: So
23:08
Ryan: if
23:08
Ryan: machine
23:08
Ryan: learning,
23:09
Ryan: if
23:09
Ryan: machines
23:10
Ryan: all,
23:10
Ryan: whether
23:11
Ryan: they
23:11
Ryan: are,
23:11
Ryan: you
23:12
Ryan: know,
23:12
Ryan: each
23:12
Ryan: ai
23:13
Ryan: tool
23:14
Ryan: is
23:14
Ryan: unique
23:15
Ryan: and
23:15
Ryan: the
23:15
Ryan: methodology
23:16
Ryan: is
23:16
Ryan: unique.
23:17
Ryan: Doesn't
23:17
Ryan: it
23:17
Ryan: make
23:18
Ryan: markets
23:18
Ryan: much
23:19
Ryan: more
23:19
Ryan: efficient?
23:20
Ryan: And
23:21
Ryan: if
23:21
Ryan: it
23:21
Ryan: makes
23:21
Ryan: markets
23:22
Ryan: more
23:22
Ryan: efficient,
23:22
Ryan: how
23:23
Ryan: do
23:23
Ryan: investment
23:23
Ryan: managers,
23:24
Ryan: even
23:24
Ryan: if
23:24
Ryan: they're
23:24
Ryan: using
23:25
Ryan: technology,
23:26
Ryan: how
23:26
Ryan: do
23:27
Ryan: they
23:27
Ryan: generate
23:27
Ryan: alpha
23:28
Ryan: in
23:29
Ryan: such
23:29
Ryan: a,
23:29
Ryan: you
23:29
Ryan: know,
23:31
Ryan: that's
23:31
Ryan: much
23:31
Ryan: more
23:31
Ryan: efficient?
23:32
Ryan: Do
23:32
Ryan: the
23:32
Ryan: technology
23:33
Ryan: and
23:34
Ryan: data
23:34
Ryan: being
23:34
Ryan: more
23:35
Ryan: accessible?
23:36
Jake: Okay.
23:37
Jake: Okay.
23:37
Jake: I'm
23:37
Jake: writing
23:38
Jake: some
23:38
Jake: notes
23:38
Jake: down
23:38
Jake: there.
23:38
Jake: There's
23:38
Jake: a
23:38
Jake: couple
23:39
Jake: of
23:39
Jake: questions
23:39
Jake: in
23:39
Jake: there.
23:39
Jake: So
23:40
Jake: in
23:40
Jake: terms
23:40
Jake: of
23:40
Jake: efficiency
23:42
Jake: I
23:42
Jake: think
23:42
Jake: the
23:43
Jake: short
23:43
Jake: answer
23:43
Jake: is
23:43
Jake: yes.
23:44
Jake: Artificial
23:45
Jake: al
23:45
Jake: intelligence
23:46
Jake: machine
23:47
Jake: learning
23:47
Jake: based
23:47
Jake: approaches
23:48
Jake: and,
23:48
Jake: and
23:48
Jake: to
23:48
Jake: be
23:48
Jake: honest,
23:48
Jake: anything
23:50
Jake: that,
23:50
Jake: that
23:50
Jake: brings
23:51
Jake: greater
23:51
Jake: forecasting
23:52
Jake: accuracy,
23:53
Jake: better
23:53
Jake: allocation
23:54
Jake: of
23:54
Jake: capital,
23:55
Jake: plays
23:56
Jake: a
23:56
Jake: role.
23:57
Jake: In
23:57
Jake: humanity's
23:58
Jake: effort
23:58
Jake: to
23:58
Jake: build
23:58
Jake: the
23:58
Jake: efficient
23:59
Jake: market.
23:59
Jake: A
23:59
Jake: long
24:00
Jake: time
24:00
Jake: ago
24:00
Jake: there
24:00
Jake: was
24:00
Jake: a
24:00
Jake: hypothesis
24:01
Jake: of
24:01
Jake: an
24:01
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24:01
Jake: market.
24:02
Jake: They
24:03
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24:03
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24:03
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24:03
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24:03
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24:03
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24:03
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24:04
Jake: it
24:04
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24:04
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24:05
Jake: It'd
24:05
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24:05
Jake: very
24:05
Jake: easy
24:05
Jake: if
24:05
Jake: your
24:06
Jake: progressor
24:06
Jake: to
24:06
Jake: prove
24:06
Jake: that
24:07
Jake: you'd
24:07
Jake: find
24:07
Jake: in
24:07
Jake: a
24:07
Jake: liquid
24:08
Jake: stock
24:08
Jake: call
24:08
Jake: up
24:09
Jake: $5,000
24:10
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24:10
Jake: stock
24:10
Jake: and
24:10
Jake: move
24:10
Jake: its
24:10
Jake: price.
24:11
Jake: There
24:11
Jake: you
24:11
Jake: go.
24:11
Jake: That
24:11
Jake: wasn't
24:11
Jake: an
24:11
Jake: efficient
24:12
Jake: idea
24:12
Jake: that,
24:12
Jake: to
24:12
Jake: prove
24:12
Jake: a
24:12
Jake: point.
24:13
Jake: You
24:13
Jake: couldn't
24:13
Jake: do
24:13
Jake: that
24:14
Jake: in
24:14
Jake: an
24:14
Jake: efficient
24:14
Jake: market,
24:14
Jake: could
24:15
Jake: you?
24:15
Jake: An
24:15
Jake: efficient
24:16
Jake: market,
24:16
Jake: everything
24:16
Jake: would
24:16
Jake: be
24:16
Jake: perfectly
24:17
Jake: priced.
24:17
Jake: You
24:17
Jake: couldn't
24:18
Jake: move
24:18
Jake: prices.
24:19
Jake: So
24:20
Jake: so
24:21
Jake: yes,
24:22
Jake: I
24:22
Jake: definitely
24:24
Jake: believe
24:24
Jake: that.
24:26
Jake: Artificial
24:27
Jake: intelligence
24:27
Jake: is
24:27
Jake: going
24:27
Jake: to
24:28
Jake: play
24:28
Jake: a
24:28
Jake: role
24:28
Jake: in,
24:28
Jake: in
24:28
Jake: enhancing
24:29
Jake: the
24:29
Jake: efficiency.
24:30
Jake: I
24:30
Jake: think
24:31
Jake: if
24:31
Jake: you
24:31
Jake: look
24:32
Jake: at
24:32
Jake: your
24:32
Jake: home
24:32
Jake: markets
24:33
Jake: in
24:33
Jake: the
24:33
Jake: us,
24:35
Jake: we
24:36
Jake: in
24:36
Jake: our
24:36
Jake: data
24:37
Jake: see
24:37
Jake: them
24:37
Jake: to
24:37
Jake: be
24:37
Jake: and
24:37
Jake: from
24:38
Jake: our
24:38
Jake: client
24:38
Jake: base
24:38
Jake: see
24:38
Jake: them
24:39
Jake: to
24:39
Jake: be
24:39
Jake: the
24:39
Jake: most
24:39
Jake: efficient
24:40
Jake: stock
24:40
Jake: market
24:41
Jake: in
24:41
Jake: the
24:41
Jake: world
24:41
Jake: today.
24:43
Jake: And
24:43
Jake: you
24:43
Jake: have
24:44
Jake: the
24:44
Jake: largest
24:45
Jake: gathering
24:45
Jake: of
24:46
Jake: highly
24:46
Jake: sophisticated
24:47
Jake: quants,
24:47
Jake: armed
24:48
Jake: with
24:48
Jake: tons
24:49
Jake: of
24:49
Jake: compute
24:49
Jake: and
24:50
Jake: access
24:50
Jake: to
24:50
Jake: tons
24:50
Jake: of
24:50
Jake: data.
24:52
Jake: And
24:52
Jake: I
24:52
Jake: think
24:52
Jake: a
24:52
Jake: result
24:53
Jake: of
24:53
Jake: that
24:53
Jake: is
24:53
Jake: that
24:53
Jake: your
24:53
Jake: stock
24:54
Jake: market
24:54
Jake: actually
24:54
Jake: goes
24:55
Jake: up
24:55
Jake: quicker.
24:56
Jake: So
24:56
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24:57
Jake: funds
24:57
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24:57
Jake: larger
24:58
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24:58
Jake: the
24:58
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24:58
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24:59
Jake: If
24:59
Jake: you
24:59
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24:59
Jake: the
24:59
Jake: stock
24:59
Jake: market
25:00
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25:00
Jake: by
25:00
Jake: one
25:00
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25:00
Jake: 2%
25:00
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25:01
Jake: year,
25:01
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25:01
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25:01
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25:02
Jake: it's
25:03
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25:03
Jake: it
25:03
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25:03
Jake: a
25:03
Jake: huge
25:03
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25:04
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25:04
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25:04
Jake: size
25:04
Jake: of
25:04
Jake: their
25:04
Jake: pension.
25:05
Jake: And
25:05
Jake: so
25:06
Jake: I
25:06
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25:07
Jake: the
25:08
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25:09
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25:09
Jake: beneficiary
25:09
Jake: of
25:09
Jake: a
25:09
Jake: more
25:10
Jake: efficient
25:10
Jake: capital
25:11
Jake: allocation
25:11
Jake: system
25:11
Jake: in
25:12
Jake: the
25:12
Jake: stock
25:12
Jake: market.
25:12
Jake: If
25:12
Jake: we
25:12
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25:12
Jake: to,
25:13
Jake: if
25:13
Jake: we
25:13
Jake: imagine
25:13
Jake: a
25:13
Jake: completely
25:14
Jake: inefficient
25:14
Jake: stock
25:14
Jake: market
25:16
Jake: it's
25:16
Jake: not
25:16
Jake: going
25:17
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25:17
Jake: go
25:17
Jake: up
25:17
Jake: as
25:17
Jake: fast
25:18
Jake: because
25:18
Jake: capital's
25:18
Jake: going
25:19
Jake: to
25:19
Jake: sit,
25:19
Jake: idly
25:19
Jake: being
25:19
Jake: used
25:20
Jake: poorly.
25:21
Jake: Rather
25:21
Jake: than
25:21
Jake: being
25:21
Jake: allocated
25:22
Jake: to
25:22
Jake: companies
25:22
Jake: that
25:22
Jake: use
25:23
Jake: it
25:23
Jake: really,
25:23
Jake: really
25:23
Jake: efficiently,
25:24
Jake: and
25:24
Jake: actually
25:24
Jake: in
25:24
Jake: the
25:24
Jake: US
25:25
Jake: you
25:25
Jake: have
25:25
Jake: that
25:25
Jake: all
25:25
Jake: the
25:25
Jake: way
25:25
Jake: around,
25:26
Jake: starting
25:26
Jake: with
25:26
Jake: VC
25:26
Jake: and
25:26
Jake: Angels
25:27
Jake: and
25:27
Jake: the
25:27
Jake: risk
25:28
Jake: tolerance
25:28
Jake: right
25:28
Jake: up
25:29
Jake: through
25:29
Jake: into
25:29
Jake: the
25:29
Jake: stock
25:29
Jake: market
25:30
Jake: itself.
25:30
Jake: The
25:31
Jake: whole
25:31
Jake: thing
25:31
Jake: is
25:31
Jake: more
25:31
Jake: efficient.
25:32
Jake: It's
25:32
Jake: why
25:32
Jake: you
25:33
Jake: have,
25:33
Jake: and
25:33
Jake: I
25:33
Jake: think
25:33
Jake: that's
25:33
Jake: actually
25:34
Jake: why
25:34
Jake: you
25:34
Jake: put
25:34
Jake: those
25:34
Jake: two
25:34
Jake: together,
25:35
Jake: why
25:35
Jake: you
25:35
Jake: have
25:35
Jake: the
25:35
Jake: world's
25:36
Jake: biggest
25:36
Jake: and
25:36
Jake: most
25:36
Jake: successful
25:37
Jake: companies,
25:37
Jake: certainly
25:38
Jake: that
25:38
Jake: have
25:38
Jake: been
25:38
Jake: created
25:38
Jake: with
25:38
Jake: new
25:39
Jake: technology,
25:39
Jake: excluding
25:40
Jake: things
25:40
Jake: like
25:40
Jake: Saudi
25:40
Jake: Aramco,
25:41
Jake: which
25:41
Jake: was
25:42
Jake: just
25:42
Jake: sitting
25:42
Jake: on
25:42
Jake: liquid
25:42
Jake: gold.
25:44
Jake: In
25:44
Jake: terms
25:44
Jake: of
25:44
Jake: generating
25:45
Jake: alpha.
25:46
Jake: So
25:46
Jake: if
25:46
Jake: I
25:46
Jake: talk
25:47
Jake: about
25:47
Jake: two
25:47
Jake: different
25:47
Jake: types,
25:47
Jake: firstly,
25:48
Jake: hedge
25:48
Jake: funds
25:49
Jake: and
25:49
Jake: systematic,
25:51
Jake: they,
25:51
Jake: our
25:51
Jake: clients
25:51
Jake: don't
25:52
Jake: tell
25:52
Jake: us
25:52
Jake: what
25:52
Jake: they
25:52
Jake: do.
25:53
Jake: Having
25:53
Jake: been
25:53
Jake: a
25:53
Jake: trader
25:54
Jake: two
25:54
Jake: of
25:54
Jake: our
25:55
Jake: team,
25:55
Jake: were,
25:55
Jake: we're
25:56
Jake: former
25:56
Jake: traders
25:56
Jake: as
25:57
Jake: well.
25:57
Jake: We
25:58
Jake: know
25:58
Jake: certain
25:58
Jake: areas
25:59
Jake: of
25:59
Jake: trading
26:00
Jake: very
26:00
Jake: different
26:00
Jake: approaches,
26:01
Jake: harnessing
26:02
Jake: and
26:02
Jake: working
26:02
Jake: in
26:02
Jake: very
26:03
Jake: different
26:03
Jake: timeframes
26:04
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26:04
Jake: than
26:04
Jake: our
26:04
Jake: own
26:04
Jake: forecasts.
26:06
Jake: So
26:07
Jake: they,
26:08
Jake: there's
26:08
Jake: so
26:09
Jake: much
26:09
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26:09
Jake: for
26:09
Jake: in
26:09
Jake: the
26:09
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26:10
Jake: That
26:11
Jake: you
26:11
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26:11
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26:12
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26:12
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26:12
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26:12
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26:12
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26:13
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26:13
Jake: people
26:14
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26:14
Jake: all
26:14
Jake: becoming
26:15
Jake: specialists
26:15
Jake: in
26:15
Jake: different
26:16
Jake: areas
26:17
Jake: and
26:17
Jake: exploiting
26:17
Jake: alpha.
26:18
Jake: That's
26:18
Jake: orthogonal
26:18
Jake: to
26:19
Jake: our
26:19
Jake: own
26:19
Jake: and
26:19
Jake: ours,
26:19
Jake: ours
26:19
Jake: is
26:20
Jake: long
26:20
Jake: term
26:20
Jake: and
26:20
Jake: slow
26:20
Jake: moving
26:21
Jake: alpha.
26:22
Jake: In
26:22
Jake: terms
26:23
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26:23
Jake: active
26:23
Jake: managers,
26:25
Jake: this,
26:25
Jake: this
26:25
Jake: is
26:25
Jake: a
26:25
Jake: very
26:26
Jake: interesting
26:26
Jake: point.
26:27
Jake: So
26:27
Jake: if
26:27
Jake: we
26:27
Jake: think
26:28
Jake: about
26:28
Jake: a,
26:28
Jake: a
26:28
Jake: portfolio
26:29
Jake: manager,
26:31
Jake: the
26:33
Jake: our
26:34
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26:34
Jake: is
26:34
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26:34
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26:35
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26:35
Jake: Buffets
26:36
Jake: of
26:36
Jake: this
26:36
Jake: century
26:36
Jake: will,
26:37
Jake: will
26:37
Jake: have
26:38
Jake: AI
26:38
Jake: enhancement.
26:39
Jake: In
26:39
Jake: the
26:39
Jake: same
26:40
Jake: way
26:40
Jake: that
26:40
Jake: you
26:40
Jake: wouldn't
26:40
Jake: find
26:41
Jake: a
26:41
Jake: trader
26:41
Jake: on
26:41
Jake: the
26:41
Jake: trading
26:42
Jake: floor
26:42
Jake: today
26:42
Jake: without
26:42
Jake: a
26:42
Jake: Bloomberg
26:43
Jake: terminal.
26:43
Jake: Imagine
26:43
Jake: giving
26:44
Jake: one
26:44
Jake: just
26:44
Jake: a,
26:44
Jake: a
26:44
Jake: TV
26:45
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26:45
Jake: and
26:45
Jake: a
26:45
Jake: phone
26:46
Jake: and
26:46
Jake: saying
26:46
Jake: Good
26:46
Jake: luck.
26:47
Jake: They're
26:47
Jake: gonna
26:47
Jake: be,
26:48
Jake: they're
26:48
Jake: gonna
26:48
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26:48
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26:48
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26:49
Jake: if
26:49
Jake: not
26:49
Jake: more
26:50
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26:50
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26:51
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26:51
Jake: everybody
26:51
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26:52
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26:52
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26:53
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26:53
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26:53
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26:54
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26:54
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26:54
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26:55
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26:55
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26:56
Jake: is
26:56
Jake: the
26:56
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26:57
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26:57
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26:58
Jake: It's
26:58
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26:59
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26:59
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26:59
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27:00
Jake: So
27:01
Jake: yes,
27:01
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27:01
Jake: brilliant
27:02
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27:02
Jake: the
27:02
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27:02
Jake: of
27:02
Jake: data
27:02
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27:03
Jake: you
27:03
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27:03
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27:03
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27:04
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27:04
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27:04
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27:04
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27:05
Jake: and
27:05
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27:05
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27:05
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27:06
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27:06
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27:07
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27:07
Jake: you
27:07
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27:07
Jake: can't
27:07
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27:08
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27:08
Jake: you
27:08
Jake: can't
27:08
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27:08
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27:08
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27:08
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27:09
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27:09
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27:09
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27:09
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27:09
Jake: time.
27:10
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27:10
Jake: sitting
27:10
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27:10
Jake: and
27:10
Jake: you're
27:10
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27:11
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27:11
Jake: any
27:11
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27:11
Jake: right?
27:12
Jake: It's
27:12
Jake: like,
27:12
Jake: okay,
27:12
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27:12
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27:13
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27:13
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27:13
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27:14
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27:14
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27:14
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27:14
Jake: you
27:14
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27:14
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27:14
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27:15
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27:15
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27:16
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27:16
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27:17
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27:17
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27:17
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27:18
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27:18
Jake: the
27:18
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27:18
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27:19
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27:19
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27:19
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27:19
Jake: all
27:19
Jake: that
27:20
Jake: data
27:20
Jake: anyway,
27:20
Jake: you'd
27:20
Jake: be
27:20
Jake: sitting
27:21
Jake: there
27:21
Jake: for
27:21
Jake: weeks
27:21
Jake: and
27:21
Jake: weeks
27:21
Jake: and
27:21
Jake: weeks.
27:24
Jake: But
27:24
Jake: that
27:25
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27:25
Jake: where
27:25
Jake: you
27:25
Jake: have
27:25
Jake: a
27:25
Jake: lot
27:26
Jake: of
27:26
Jake: data,
27:27
Jake: but
27:27
Jake: there's
27:27
Jake: a
27:27
Jake: lot
27:27
Jake: of
27:27
Jake: areas
27:28
Jake: where
27:28
Jake: you
27:28
Jake: don't
27:28
Jake: have
27:28
Jake: a
27:28
Jake: lot
27:28
Jake: of
27:28
Jake: data.
27:29
Jake: And
27:29
Jake: so
27:30
Jake: machine
27:30
Jake: learning,
27:31
Jake: particularly
27:32
Jake: in
27:32
Jake: the
27:32
Jake: stock
27:32
Jake: market
27:32
Jake: where
27:32
Jake: it's
27:33
Jake: so
27:33
Jake: noisy,
27:33
Jake: needs
27:33
Jake: lots
27:34
Jake: of
27:34
Jake: data.
27:35
Jake: And
27:35
Jake: at
27:35
Jake: three
27:35
Jake: hour
27:35
Jake: we
27:35
Jake: call
27:36
Jake: the,
27:36
Jake: the
27:36
Jake: data
27:37
Jake: that
27:37
Jake: we
27:37
Jake: work
27:37
Jake: with
27:37
Jake: homogenous
27:38
Jake: data,
27:39
Jake: data
27:39
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27:39
Jake: is
27:39
Jake: the
27:39
Jake: same
27:40
Jake: for
27:40
Jake: all
27:40
Jake: stocks.
27:41
Jake: So
27:41
Jake: we
27:41
Jake: can
27:41
Jake: use
27:41
Jake: it
27:42
Jake: like
27:42
Jake: dollar
27:42
Jake: profit
27:43
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27:43
Jake: or
27:43
Jake: price
27:44
Jake: moves,
27:44
Jake: analyst
27:45
Jake: ratings,
27:45
Jake: that's,
27:46
Jake: that's
27:46
Jake: kind
27:46
Jake: of
27:46
Jake: homogenized
27:47
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27:47
Jake: all
27:47
Jake: stocks
27:47
Jake: has
27:48
Jake: the
27:48
Jake: same
27:48
Jake: meaning.
27:50
Jake: But
27:50
Jake: if
27:50
Jake: we
27:50
Jake: think
27:50
Jake: about
27:51
Jake: certain
27:51
Jake: other
27:51
Jake: companies
27:52
Jake: that,
27:52
Jake: you
27:52
Jake: know,
27:53
Jake: it,
27:53
Jake: maybe
27:53
Jake: you're
27:53
Jake: an
27:53
Jake: app
27:53
Jake: company,
27:54
Jake: maybe
27:54
Jake: there's
27:54
Jake: only
27:54
Jake: five
27:55
Jake: o
27:55
Jake: other
27:55
Jake: listed
27:56
Jake: app
27:56
Jake: companies,
27:57
Jake: you
27:57
Jake: haven't
27:57
Jake: got
27:57
Jake: enough,
27:58
Jake: enough
27:58
Jake: price
27:58
Jake: behavior
27:59
Jake: to
27:59
Jake: get
27:59
Jake: any
27:59
Jake: statistical
28:00
Jake: significance
28:00
Jake: on
28:00
Jake: learning
28:01
Jake: the
28:01
Jake: interrelationship
28:01
Jake: with
28:01
Jake: that
28:02
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28:02
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28:02
Jake: the
28:02
Jake: stock.
28:03
Jake: However,
28:04
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28:04
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28:04
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28:05
Jake: PM
28:05
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28:05
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28:05
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28:05
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28:06
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28:06
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28:06
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28:07
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28:08
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28:08
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28:08
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28:08
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28:09
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28:09
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28:09
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28:09
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28:09
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28:09
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28:09
Jake: financial
28:10
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28:11
Jake: How
28:11
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28:11
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28:11
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28:11
Jake: stock,
28:12
Jake: they,
28:12
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28:13
Jake: there's
28:14
Jake: lots
28:15
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28:15
Jake: data
28:15
Jake: sets
28:15
Jake: that
28:15
Jake: just
28:16
Jake: aren't
28:16
Jake: yet
28:16
Jake: ready
28:16
Jake: for
28:16
Jake: machine
28:17
Jake: learning.
28:18
Jake: And
28:18
Jake: may
28:18
Jake: never
28:19
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28:20
Jake: So
28:21
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28:21
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28:21
Jake: the
28:21
Jake: areas
28:21
Jake: where
28:22
Jake: we
28:22
Jake: work
28:22
Jake: on
28:23
Jake: with
28:23
Jake: active
28:23
Jake: managers
28:24
Jake: is,
28:24
Jake: is
28:25
Jake: this
28:25
Jake: kind
28:25
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28:25
Jake: yin
28:25
Jake: yang
28:26
Jake: relationship.
28:27
Jake: It's
28:27
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28:27
Jake: one
28:27
Jake: or
28:27
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28:28
Jake: The
28:28
Jake: optimal
28:29
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28:29
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28:30
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28:30
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28:30
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28:30
Jake: planes
28:31
Jake: today.
28:31
Jake: Yeah.
28:31
Jake: We
28:32
Jake: can
28:32
Jake: fly
28:32
Jake: planes
28:32
Jake: without
28:32
Jake: a
28:32
Jake: pilot.
28:33
Jake: We
28:33
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28:33
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28:33
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28:33
Jake: drones,
28:34
Jake: but
28:34
Jake: we
28:34
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28:34
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28:34
Jake: a
28:34
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28:35
Jake: Why
28:35
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28:36
Jake: So.
28:38
Jake: So,
28:38
Jake: yes,
28:39
Jake: I,
28:39
Jake: it's
28:40
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28:40
Jake: think
28:40
Jake: there's
28:40
Jake: an
28:40
Jake: education
28:41
Jake: that
28:41
Jake: will
28:41
Jake: come
28:41
Jake: with
28:41
Jake: ai.
28:42
Jake: We're
28:42
Jake: certainly
28:43
Jake: invested
28:43
Jake: in
28:43
Jake: that
28:44
Jake: and
28:44
Jake: working
28:44
Jake: on
28:44
Jake: that
28:45
Jake: with
28:45
Jake: our
28:45
Jake: clients
28:46
Jake: to
28:47
Jake: support
28:48
Jake: the,
28:48
Jake: the
28:48
Jake: active
28:49
Jake: managers
28:49
Jake: to,
28:49
Jake: to
28:50
Jake: realize,
28:50
Jake: okay,
28:50
Jake: there's
28:50
Jake: a
28:50
Jake: whole
28:51
Jake: load
28:51
Jake: of
28:51
Jake: lifting
28:52
Jake: that
28:52
Jake: you
28:52
Jake: couldn't
28:52
Jake: do
28:52
Jake: before
28:53
Jake: that
28:53
Jake: we
28:53
Jake: now
28:53
Jake: do
28:54
Jake: that
28:54
Jake: that
28:54
Jake: was
28:54
Jake: never
28:55
Jake: getting
28:55
Jake: done,
28:56
Jake: but
28:56
Jake: really
28:57
Jake: go
28:57
Jake: and
28:57
Jake: focus
28:58
Jake: to
28:58
Jake: these
28:58
Jake: other
28:58
Jake: areas
28:59
Jake: that
28:59
Jake: are
28:59
Jake: not
28:59
Jake: so
28:59
Jake: suited.
29:00
Jake: To,
29:01
Jake: to
29:01
Jake: AI
29:01
Jake: or
29:01
Jake: machine
29:02
Jake: learning
29:02
Jake: that
29:02
Jake: we're
29:02
Jake: not
29:02
Jake: gonna
29:02
Jake: deal
29:03
Jake: with,
29:03
Jake: we're
29:03
Jake: not
29:03
Jake: gonna
29:03
Jake: be
29:03
Jake: able
29:03
Jake: to
29:04
Jake: add
29:04
Jake: value
29:05
Jake: and
29:05
Jake: add
29:05
Jake: additional
29:06
Jake: value
29:06
Jake: on
29:06
Jake: top
29:07
Jake: of
29:07
Jake: the
29:08
Jake: ai.
29:08
Jake: The
29:08
Jake: AI
29:08
Jake: just
29:09
Jake: really
29:09
Jake: forms
29:09
Jake: a
29:09
Jake: base
29:10
Jake: layer
29:10
Jake: of
29:10
Jake: enhancement.
29:13
Ryan: Yeah,
29:14
Ryan: Jake,
29:14
Ryan: that's
29:15
Ryan: great.
29:16
Ryan: So
29:16
Ryan: let's
29:17
Ryan: go
29:17
Ryan: to
29:17
Ryan: your
29:18
Ryan: alpha
29:18
Ryan: int
29:18
Ryan: intelligence
29:19
Ryan: scoring
29:20
Ryan: methodology
29:21
Ryan: and
29:21
Ryan: tool.
29:24
Ryan: you've
29:24
Ryan: talked
29:24
Ryan: a
29:24
Ryan: lot
29:24
Ryan: about,
29:25
Ryan: benjamin
29:26
Ryan: Graham,
29:26
Ryan: Warren
29:27
Ryan: Buffet,
29:28
Ryan: and
29:28
Ryan: they're,
29:28
Ryan: you
29:28
Ryan: know,
29:28
Ryan: that's,
29:29
Ryan: you've
29:30
Ryan: taken
29:30
Ryan: a
29:30
Ryan: lot
29:30
Ryan: from
29:31
Ryan: them
29:32
Ryan: the
29:32
Ryan: years.
29:33
Ryan: So
29:34
Ryan: with
29:35
Ryan: your
29:35
Ryan: scoring,
29:36
Ryan: is
29:36
Ryan: it
29:36
Ryan: more,
29:36
Ryan: got
29:37
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29:37
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29:37
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29:37
Ryan: value
29:38
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29:38
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29:38
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29:38
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29:39
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29:40
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29:40
Ryan: Does
29:41
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29:41
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29:41
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29:41
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29:42
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29:42
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29:43
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29:43
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29:44
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29:44
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29:44
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29:44
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29:45
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29:45
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29:45
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29:45
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29:46
Ryan: some
29:46
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29:46
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29:47
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29:47
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29:47
Ryan: too?
29:47
Ryan: Or
29:47
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29:48
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29:48
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29:48
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29:48
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29:49
Ryan: you
29:49
Ryan: know,
29:50
Ryan: good
29:50
Ryan: companies
29:51
Ryan: at
29:52
Ryan: a
29:52
Ryan: discounted
29:53
Ryan: price?
29:55
Jake: All
29:55
Jake: of
29:55
Jake: the
29:55
Jake: above
29:56
Jake: and
29:57
Jake: in,
29:57
Jake: and
29:58
Jake: it's
29:58
Jake: a,
29:58
Jake: it
29:58
Jake: is
29:58
Jake: a
29:58
Jake: piece
29:58
Jake: of
29:58
Jake: string
29:59
Jake: answer.
29:59
Jake: So
30:00
Jake: one
30:00
Jake: of
30:00
Jake: the
30:00
Jake: things
30:01
Jake: that
30:01
Jake: our
30:01
Jake: alpha
30:02
Jake: intelligence
30:03
Jake: does
30:03
Jake: is
30:03
Jake: seek
30:04
Jake: to
30:04
Jake: work
30:04
Jake: out
30:05
Jake: to
30:05
Jake: what
30:05
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30:05
Jake: those
30:06
Jake: things
30:06
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30:06
Jake: important.
30:07
Jake: Point
30:08
Jake: in
30:08
Jake: time
30:08
Jake: on
30:08
Jake: a
30:09
Jake: stock
30:09
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30:09
Jake: stock
30:09
Jake: basis.
30:10
Jake: So
30:11
Jake: in
30:11
Jake: 2021,
30:12
Jake: we
30:13
Jake: began
30:13
Jake: developing
30:13
Jake: explainability.
30:14
Jake: This
30:14
Jake: was
30:15
Jake: an
30:15
Jake: original
30:15
Jake: just
30:16
Jake: in
30:16
Jake: data
30:16
Jake: format.
30:17
Jake: So
30:17
Jake: it's
30:17
Jake: ugly.
30:18
Jake: You
30:18
Jake: know,
30:18
Jake: we're
30:18
Jake: talking
30:19
Jake: over
30:19
Jake: 300
30:19
Jake: factors.
30:20
Jake: So
30:20
Jake: there's
30:20
Jake: like
30:20
Jake: a,
30:21
Jake: a
30:21
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30:21
Jake: chart
30:22
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30:22
Jake: over
30:22
Jake: 300
30:22
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30:22
Jake: of
30:23
Jake: alpha
30:23
Jake: being
30:23
Jake: attributed
30:24
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30:24
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30:24
Jake: in
30:24
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30:25
Jake: models.
30:25
Jake: Of
30:25
Jake: course,
30:25
Jake: within
30:26
Jake: that
30:26
Jake: would
30:26
Jake: sit
30:26
Jake: value,
30:27
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30:27
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30:27
Jake: growth,
30:28
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30:28
Jake: sit
30:28
Jake: momentum,
30:29
Jake: and
30:29
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30:29
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30:29
Jake: other
30:29
Jake: data.
30:30
Jake: What
30:31
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30:31
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30:31
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30:31
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30:31
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30:32
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30:32
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30:32
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30:33
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30:34
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30:34
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30:34
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30:34
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30:35
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30:36
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30:36
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30:36
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30:36
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30:37
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30:38
Jake: these
30:38
Jake: different
30:38
Jake: things,
30:39
Jake: across
30:39
Jake: different
30:40
Jake: stocks
30:40
Jake: at
30:40
Jake: the
30:41
Jake: same
30:41
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30:41
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30:41
Jake: time.
30:42
Jake: So.
30:44
Jake: Some
30:45
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30:45
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30:45
Jake: more
30:45
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30:46
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30:46
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30:46
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30:47
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30:47
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30:47
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30:47
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30:47
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30:48
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30:48
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30:48
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30:48
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30:49
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30:49
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30:49
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30:49
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30:49
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30:51
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30:51
Jake: the
30:51
Jake: alpha
30:51
Jake: intelligence
30:52
Jake: is
30:53
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30:53
Jake: prior
30:53
Jake: financials
30:54
Jake: are
30:54
Jake: more
30:54
Jake: predictable,
30:55
Jake: the
30:55
Jake: more
30:55
Jake: reliable
30:56
Jake: companies.
30:57
Jake: So
30:57
Jake: you
30:57
Jake: can
30:57
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30:57
Jake: to
30:57
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30:58
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30:58
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30:58
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30:58
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30:58
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30:58
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30:58
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30:59
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30:59
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30:59
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30:59
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31:00
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31:00
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31:00
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31:00
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31:00
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31:01
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31:01
Jake: he
31:01
Jake: avoids
31:01
Jake: cyclical
31:02
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31:02
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31:03
Jake: he
31:03
Jake: also
31:03
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31:03
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31:03
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31:04
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31:04
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31:04
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31:05
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31:05
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31:05
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31:05
Jake: can't
31:05
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31:06
Jake: or
31:07
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31:07
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31:07
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31:07
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31:07
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31:07
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31:08
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31:08
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31:08
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31:08
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31:08
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31:08
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31:08
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31:09
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31:10
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31:10
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31:10
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31:10
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31:10
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31:11
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31:11
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31:11
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31:11
Jake: of
31:11
Jake: competence.
31:12
Jake: And
31:12
Jake: the
31:12
Jake: alpha
31:12
Jake: intelligence
31:12
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31:13
Jake: that
31:13
Jake: again,
31:13
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31:13
Jake: with,
31:13
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31:14
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31:14
Jake: We,
31:15
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31:15
Jake: recent
31:15
Jake: time
31:16
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31:16
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31:16
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31:16
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31:16
Jake: a
31:16
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31:17
Jake: more
31:17
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31:17
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31:17
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31:18
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31:18
Jake: Tesla.
31:18
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31:18
Jake: we
31:18
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31:18
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31:19
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31:19
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31:19
Jake: years
31:20
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39:04
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39:04
Ryan: the
39:05
Ryan: movie
39:06
Ryan: in
39:06
Ryan: sports.
39:07
Ryan: I
39:07
Ryan: love
39:07
Ryan: it.
39:07
Ryan: It
39:07
Ryan: is
39:07
Ryan: a
39:07
Ryan: great
39:08
Ryan: comparison.
39:10
Ryan: Let's.
39:10
Jake: It
39:11
Jake: is
39:11
Jake: really
39:11
Jake: the,
39:11
Jake: it
39:11
Jake: is,
39:11
Jake: it
39:11
Jake: is
39:11
Jake: a
39:11
Jake: very
39:12
Jake: much
39:12
Jake: a
39:12
Jake: a
39:12
Jake: similar,
39:13
Jake: similar
39:13
Jake: thing,
39:13
Jake: really
39:14
Jake: similar
39:15
Jake: thing.
39:16
Ryan: Let's
39:16
Ryan: finish.
39:17
Ryan: Great
39:17
Ryan: conversation.
39:19
Ryan: I
39:19
Ryan: learned
39:19
Ryan: a
39:19
Ryan: ton.
39:19
Ryan: I'll
39:19
Ryan: probably
39:20
Ryan: go
39:20
Ryan: back
39:20
Ryan: and
39:20
Ryan: watch
39:21
Ryan: this
39:21
Ryan: a
39:21
Ryan: couple
39:21
Ryan: times.
39:22
Ryan: Has
39:22
Ryan: taken
39:22
Ryan: it
39:23
Ryan: all
39:23
Ryan: in.
39:24
Ryan: All
39:24
Ryan: the
39:24
Ryan: great
39:24
Ryan: insight.
39:25
Ryan: Let's
39:25
Ryan: just
39:25
Ryan: finish.
39:26
Ryan: So
39:26
Ryan: financial
39:27
Ryan: advisors
39:27
Ryan: out
39:27
Ryan: there
39:27
Ryan: that
39:28
Ryan: are
39:28
Ryan: watching,
39:29
Ryan: how
39:29
Ryan: can
39:29
Ryan: they
39:29
Ryan: implement
39:30
Ryan: strategies
39:31
Ryan: like
39:31
Ryan: this?
39:31
Ryan: Like
39:32
Ryan: they
39:32
Ryan: find
39:32
Ryan: it
39:32
Ryan: really
39:33
Ryan: interesting.
39:34
Ryan: They
39:34
Ryan: wanna
39:35
Ryan: implement
39:35
Ryan: some
39:35
Ryan: AI
39:36
Ryan: and
39:36
Ryan: more
39:36
Ryan: quant
39:37
Ryan: into
39:37
Ryan: their
39:38
Ryan: client
39:38
Ryan: portfolios.
39:39
Ryan: Where
39:39
Ryan: can
39:40
Ryan: they
39:40
Ryan: start?
39:43
Jake: So
39:44
Jake: are
39:44
Jake: we
39:44
Jake: talking
39:44
Jake: about
39:45
Jake: a
39:45
Jake: financial
39:45
Jake: advisor
39:45
Jake: that's
39:46
Jake: actually
39:46
Jake: creating
39:46
Jake: strategies
39:47
Jake: for
39:47
Jake: their
39:47
Jake: client
39:48
Jake: or
39:48
Jake: allocating
39:48
Jake: their
39:48
Jake: clients
39:48
Jake: into
39:49
Jake: funds?
39:50
Ryan: If
39:51
Jake: Both.
39:52
Ryan: that
39:52
Ryan: are
39:52
Ryan: are
39:53
Ryan: creating
39:53
Ryan: investment
39:54
Ryan: portfolios,
39:54
Ryan: whether
39:55
Ryan: it's
39:55
Ryan: mutual
39:55
Ryan: funds,
39:56
Ryan: ETFs,
39:56
Ryan: individual
39:57
Ryan: stocks
39:58
Ryan: for
39:58
Ryan: their
39:58
Ryan: clients.
40:00
Jake: Okay,
40:01
Jake: so
40:01
Jake: I
40:01
Jake: mean,
40:02
Jake: I'm
40:02
Jake: working
40:02
Jake: for
40:02
Jake: three
40:03
Jake: ai
40:03
Jake: so
40:03
Jake: I'll
40:03
Jake: tell
40:03
Jake: you
40:03
Jake: about
40:04
Jake: three
40:04
Jake: AI
40:04
Jake: side.
40:05
Jake: We
40:05
Jake: can
40:06
Jake: effectively
40:06
Jake: provide
40:07
Jake: an
40:07
Jake: alpha
40:07
Jake: intelligence.
40:09
Jake: Interface
40:10
Jake: with
40:11
Jake: pretty
40:11
Jake: much
40:11
Jake: a
40:11
Jake: global
40:12
Jake: coverage
40:12
Jake: of
40:12
Jake: every
40:12
Jake: stock
40:13
Jake: in
40:13
Jake: the
40:13
Jake: world,
40:13
Jake: over
40:13
Jake: $50
40:13
Jake: million
40:14
Jake: market
40:14
Jake: cap.
40:15
Jake: It
40:15
Jake: is
40:16
Jake: instantly
40:16
Jake: searchable
40:17
Jake: to
40:17
Jake: find
40:18
Jake: the
40:18
Jake: world
40:18
Jake: our
40:19
Jake: highest
40:19
Jake: rated,
40:19
Jake: lowest
40:20
Jake: rated
40:20
Jake: stocks.
40:21
Jake: We
40:21
Jake: have.
40:23
Jake: And
40:23
Jake: deep
40:24
Jake: explainability,
40:24
Jake: like
40:24
Jake: I
40:25
Jake: said,
40:25
Jake: about
40:25
Jake: 300,000
40:26
Jake: pages
40:26
Jake: of
40:26
Jake: equity
40:27
Jake: research
40:27
Jake: updated
40:28
Jake: weekly.
40:29
Jake: So
40:29
Jake: it's,
40:30
Jake: I
40:30
Jake: think
40:30
Jake: the
40:30
Jake: average
40:30
Jake: analyst
40:31
Jake: covers
40:31
Jake: about
40:31
Jake: 2020
40:32
Jake: stocks
40:33
Jake: or
40:33
Jake: so.
40:33
Jake: So
40:34
Jake: I
40:34
Jake: guess
40:34
Jake: you'd
40:34
Jake: say
40:34
Jake: it's
40:35
Jake: about
40:35
Jake: a
40:35
Jake: thousand
40:35
Jake: analysts,
40:36
Jake: but
40:36
Jake: we
40:37
Jake: tested
40:37
Jake: it
40:37
Jake: against
40:38
Jake: the
40:38
Jake: institutional
40:38
Jake: brokers
40:39
Jake: estimate
40:39
Jake: system
40:40
Jake: and.
40:41
Jake: The,
40:41
Jake: which
40:41
Jake: covers
40:42
Jake: 18,000
40:42
Jake: sales
40:43
Jake: side
40:43
Jake: and
40:43
Jake: our
40:43
Jake: forecasting
40:44
Jake: accuracy,
40:45
Jake: we're
40:45
Jake: explaining
40:45
Jake: alpha
40:46
Jake: for
40:46
Jake: the
40:46
Jake: following
40:47
Jake: year,
40:47
Jake: circa
40:48
Jake: 20
40:48
Jake: times
40:48
Jake: higher
40:49
Jake: than
40:49
Jake: analyst
40:50
Jake: ratings.
40:50
Jake: In
40:51
Jake: the,
40:51
Jake: in
40:51
Jake: the,
40:51
Jake: since
40:51
Jake: we've
40:52
Jake: been
40:52
Jake: live
40:52
Jake: with
40:52
Jake: our
40:53
Jake: stuff,
40:53
Jake: which
40:53
Jake: is
40:54
Jake: 2020.
40:55
Jake: If
40:56
Jake: the
40:56
Jake: for
40:56
Jake: funds
40:57
Jake: we're,
40:57
Jake: we're
40:57
Jake: launching
40:58
Jake: AI
40:58
Jake: powered
40:58
Jake: funds
40:59
Jake: with
40:59
Jake: s
40:59
Jake: and
40:59
Jake: p
40:59
Jake: Global,
41:00
Jake: so
41:00
Jake: should
41:01
Jake: we
41:01
Jake: say
41:01
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41:02
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41:02
Jake: we,
41:02
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41:02
Jake: we,
41:03
Jake: we,
41:03
Jake: we
41:03
Jake: provide
41:04
Jake: our
41:04
Jake: forecast
41:04
Jake: data
41:04
Jake: to
41:05
Jake: s
41:05
Jake: and
41:05
Jake: p
41:05
Jake: Global.
41:05
Jake: They're
41:06
Jake: creating
41:06
Jake: indices
41:06
Jake: with
41:07
Jake: it
41:07
Jake: to
41:07
Jake: create
41:08
Jake: enhanced
41:08
Jake: versions,
41:09
Jake: alpha
41:10
Jake: seeking
41:10
Jake: versions
41:11
Jake: of
41:11
Jake: the
41:12
Jake: s
41:12
Jake: and
41:12
Jake: p
41:12
Jake: 500
41:13
Jake: s
41:13
Jake: and
41:13
Jake: p
41:13
Jake: world.
41:14
Jake: And
41:14
Jake: there'll
41:15
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41:15
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41:15
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41:15
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41:16
Jake: Actually,
41:16
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41:16
Jake: got.
41:17
Jake: Clients
41:17
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41:17
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41:17
Jake: Middle
41:18
Jake: East
41:18
Jake: and,
41:18
Jake: and,
41:18
Jake: and
41:19
Jake: Asia
41:19
Jake: now
41:19
Jake: are
41:19
Jake: showing
41:20
Jake: interest.
41:20
Jake: And
41:20
Jake: I
41:20
Jake: think
41:20
Jake: we'll
41:21
Jake: be
41:21
Jake: global
41:22
Jake: with
41:22
Jake: those
41:22
Jake: products
41:22
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41:22
Jake: the
41:22
Jake: not,
41:23
Jake: not
41:23
Jake: too
41:23
Jake: distant
41:23
Jake: future.
41:24
Jake: Should
41:24
Jake: we
41:24
Jake: speak
41:24
Jake: again?
41:25
Jake: I
41:25
Jake: think
41:25
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41:25
Jake: might
41:25
Jake: well
41:25
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41:27
Jake: so,
41:28
Jake: but
41:28
Jake: I,
41:28
Jake: I,
41:29
Jake: I
41:29
Jake: would
41:29
Jake: recommend
41:29
Jake: to,
41:30
Jake: to,
41:30
Jake: to
41:30
Jake: do
41:31
Jake: due
41:31
Jake: diligence
41:32
Jake: if,
41:32
Jake: if
41:32
Jake: for
41:33
Jake: example
41:34
Jake: people
41:34
Jake: are
41:35
Jake: using
41:36
Jake: AI
41:36
Jake: systems
41:37
Jake: for
41:37
Jake: Alpha.
41:38
Jake: I
41:38
Jake: think
41:38
Jake: it's
41:38
Jake: really
41:39
Jake: important
41:39
Jake: to
41:40
Jake: statistically
41:41
Jake: analyze
41:41
Jake: the
41:41
Jake: performance.
41:43
Jake: Of
41:43
Jake: the
41:44
Jake: of
41:44
Jake: the
41:44
Jake: forecasts.
41:46
Jake: And
41:46
Jake: if
41:46
Jake: the,
41:46
Jake: and
41:46
Jake: if
41:46
Jake: the
41:46
Jake: statistical
41:47
Jake: performance
41:47
Jake: of
41:47
Jake: the
41:47
Jake: forecast
41:48
Jake: is
41:48
Jake: robust,
41:50
Jake: then,
41:51
Jake: and
41:51
Jake: you
41:51
Jake: understand
41:52
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41:53
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41:53
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41:53
Jake: and
41:53
Jake: pears
41:53
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41:53
Jake: it,
41:54
Jake: there's
41:54
Jake: actually
41:54
Jake: fundamental
41:55
Jake: reasoning,
41:56
Jake: grounded
41:56
Jake: in
41:57
Jake: reality,
41:57
Jake: not
41:57
Jake: in
41:57
Jake: data,
41:58
Jake: but
41:58
Jake: in
41:58
Jake: the
41:58
Jake: real
41:58
Jake: world
41:58
Jake: that
41:59
Jake: we
41:59
Jake: can
41:59
Jake: see
41:59
Jake: with
41:59
Jake: our
41:59
Jake: eyes,
42:01
Jake: then,
42:01
Jake: then,
42:02
Jake: then
42:02
Jake: sit
42:02
Jake: with
42:02
Jake: it.
42:03
Jake: Like
42:03
Jake: all
42:04
Jake: good,
42:04
Jake: like
42:04
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42:04
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42:05
Jake: systematic
42:05
Jake: approaches
42:06
Jake: or,
42:07
Jake: and
42:07
Jake: stuff.
42:07
Jake: You
42:07
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42:07
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42:08
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42:08
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42:09
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42:09
Jake: you
42:09
Jake: should
42:10
Jake: get
42:10
Jake: paid
42:10
Jake: out
42:10
Jake: in
42:11
Jake: time
42:11
Jake: and
42:11
Jake: outperforming
42:12
Jake: in
42:12
Jake: time,
42:13
Jake: but
42:13
Jake: obviously
42:13
Jake: nothing's
42:14
Jake: a
42:15
Jake: guarantee
42:15
Jake: on
42:15
Jake: anything.
42:16
Jake: The
42:16
Jake: market
42:17
Jake: can
42:17
Jake: be,
42:17
Jake: you
42:17
Jake: know,
42:17
Jake: the
42:17
Jake: old
42:17
Jake: saying
42:18
Jake: the
42:18
Jake: market
42:18
Jake: can
42:18
Jake: be
42:19
Jake: crazier
42:20
Jake: than
42:20
Jake: we've
42:20
Jake: got
42:20
Jake: the
42:20
Jake: wallet
42:21
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42:21
Jake: kind
42:21
Jake: of
42:22
Jake: stomach,
42:23
Jake: but
42:23
Jake: which
42:23
Jake: is
42:23
Jake: true.
42:24
Ryan: Wow,
42:24
Ryan: Jake,
42:25
Ryan: fantastic
42:26
Ryan: conversation.
42:27
Ryan: I,
42:28
Ryan: like
42:28
Ryan: I
42:28
Ryan: said
42:28
Ryan: earlier,
42:29
Ryan: I
42:29
Ryan: learned
42:29
Ryan: a
42:29
Ryan: ton
42:31
Ryan: of
42:31
Ryan: really
42:31
Ryan: interesting
42:32
Ryan: stuff.
42:33
Ryan: Thank
42:33
Ryan: you
42:33
Ryan: so
42:33
Ryan: much
42:33
Ryan: for
42:34
Ryan: coming
42:34
Ryan: on.
42:34
Ryan: Really
42:35
Ryan: an
42:35
Ryan: honor
42:35
Ryan: to
42:35
Ryan: have
42:35
Ryan: you
42:36
Ryan: on.
42:36
Ryan: Where
42:36
Ryan: can
42:37
Ryan: our
42:37
Ryan: audience
42:37
Ryan: get
42:38
Ryan: more
42:38
Ryan: information
42:39
Ryan: about
42:39
Ryan: three
42:40
Ryan: ai.
42:41
Jake: We've
42:41
Jake: got
42:41
Jake: a
42:41
Jake: website
42:41
Jake: like
42:42
Jake: everyone.
42:42
Jake: So
42:43
Jake: you
42:43
Jake: can
42:43
Jake: go
42:43
Jake: to
42:43
Jake: our
42:43
Jake: website,
42:44
Jake: www.threeai.co.
42:47
Jake: And
42:47
Jake: see
42:47
Jake: us
42:47
Jake: there.
42:48
Jake: I
42:48
Jake: must
42:49
Jake: be
42:49
Jake: honest
42:49
Jake: with
42:49
Jake: you,
42:50
Jake: we
42:50
Jake: have
42:50
Jake: very
42:50
Jake: limited
42:51
Jake: information
42:51
Jake: on
42:52
Jake: our
42:52
Jake: website
42:52
Jake: because
42:53
Jake: our
42:53
Jake: clients
42:53
Jake: are
42:53
Jake: on
42:54
Jake: the
42:54
Jake: buy
42:54
Jake: side.
42:55
Jake: We're
42:55
Jake: an
42:55
Jake: alpha
42:55
Jake: unit,
42:56
Jake: right?
42:56
Jake: Like,
42:56
Jake: like
42:56
Jake: we
42:57
Jake: see
42:57
Jake: ourselves
42:57
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42:57
Jake: an,
42:58
Jake: as
42:58
Jake: a
42:58
Jake: kind
42:58
Jake: of
42:59
Jake: a
42:59
Jake: team
43:00
Jake: with
43:00
Jake: our,
43:00
Jake: with,
43:00
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43:01
Jake: our
43:01
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43:01
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43:02
Jake: we're,
43:03
Jake: we're
43:03
Jake: almost
43:03
Jake: like
43:03
Jake: an,
43:04
Jake: you
43:04
Jake: could
43:04
Jake: imagine
43:05
Jake: like
43:05
Jake: an
43:05
Jake: out
43:05
Jake: outsourced
43:06
Jake: like
43:06
Jake: research
43:07
Jake: alpha
43:07
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43:07
Jake: and
43:08
Jake: d
43:08
Jake: center
43:08
Jake: and
43:09
Jake: trying
43:09
Jake: and
43:09
Jake: supplying
43:10
Jake: that
43:10
Jake: and
43:10
Jake: distributing
43:10
Jake: that
43:10
Jake: back
43:11
Jake: into
43:11
Jake: industry.
43:12
Jake: So
43:13
Jake: our
43:13
Jake: website
43:13
Jake: is,
43:14
Jake: doesn't
43:14
Jake: contain
43:15
Jake: a
43:15
Jake: great
43:15
Jake: deal
43:15
Jake: of
43:16
Jake: information
43:17
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43:18
Jake: there,
43:18
Jake: but
43:18
Jake: if,
43:18
Jake: but
43:19
Jake: if
43:19
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43:19
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43:19
Jake: institutional
43:19
Jake: clients
43:20
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43:21
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43:21
Jake: to
43:21
Jake: work
43:21
Jake: with
43:22
Jake: us,
43:22
Jake: then
43:22
Jake: they
43:22
Jake: could
43:22
Jake: reach
43:23
Jake: out
43:23
Jake: to
43:23
Jake: us
43:24
Jake: via
43:24
Jake: the
43:24
Jake: website.
43:25
Jake: There's
43:25
Jake: videos
43:25
Jake: on
43:26
Jake: there
43:26
Jake: too,
43:26
Jake: but
43:26
Jake: you
43:26
Jake: can
43:26
Jake: go
43:26
Jake: right
43:27
Jake: back
43:27
Jake: to
43:27
Jake: 2019.
43:28
Jake: I
43:28
Jake: did
43:28
Jake: a
43:28
Jake: talk
43:29
Jake: at
43:29
Jake: when
43:29
Jake: we
43:29
Jake: were
43:29
Jake: earlier,
43:30
Jake: first
43:30
Jake: formed
43:31
Jake: at
43:31
Jake: 2019
43:32
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43:32
Jake: the
43:32
Jake: university
43:33
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43:33
Jake: Harvard
43:34
Jake: in
43:34
Jake: I
43:34
Jake: think
43:34
Jake: 22
43:35
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43:35
Jake: UCL,
43:35
Jake: the
43:36
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43:36
Jake: year.
43:37
Jake: As
43:38
Jake: well.
43:38
Jake: And
43:38
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43:38
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43:38
Jake: see
43:39
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43:39
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43:39
Jake: actually
43:40
Jake: some
43:40
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43:40
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43:40
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43:40
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43:40
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43:40
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43:41
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43:42
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43:42
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43:42
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43:42
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43:42
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43:42
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43:43
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43:43
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43:43
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43:44
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43:44
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43:44
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43:45
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43:45
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43:45
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43:46
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43:46
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43:46
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43:47
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43:47
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43:47
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43:48
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43:49
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43:49
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43:50
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43:50
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43:50
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43:50
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43:51
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43:51
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43:52
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43:52
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43:52
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43:53
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43:54
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43:54
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43:54
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43:54
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43:55
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43:55
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43:56
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43:56
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43:56
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43:57
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43:57
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43:57
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43:57
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43:57
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43:58
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43:58
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43:58
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43:59
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44:00
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44:00
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44:00
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44:00
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44:01
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44:01
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44:01
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44:02
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44:02
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44:02
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44:03
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44:03
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44:03
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44:04
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44:04
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44:05
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44:05
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44:06
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44:06
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44:06
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44:06
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44:07
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44:07
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44:07
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44:07
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44:08
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44:08
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44:08
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44:08
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44:08
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44:09
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44:10
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44:10
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44:10
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44:10
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44:10
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44:11
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44:11
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44:11
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44:12
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44:12
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44:12
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44:12
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44:13
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44:13
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44:13
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44:13
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44:13
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44:13
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44:14
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44:14
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44:14
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44:15
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44:15
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44:15
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44:15
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44:15
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44:16
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44:17
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44:17
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44:17
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44:18
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44:18
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44:18
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44:19
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44:19
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44:19
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44:19
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44:19
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44:20
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44:20
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44:20
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44:20
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44:21
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44:22
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44:22
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44:22
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44:22
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44:22
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44:22
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44:23
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44:23
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44:23
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44:24
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44:24
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44:25
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44:26
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44:26
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44:26
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44:26
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44:27
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44:27
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44:30
Ryan: I
44:30
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44:30
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44:30
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44:31
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44:31
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44:31
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44:31
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44:32
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44:32
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44:32
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44:32
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44:33
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44:33
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44:33
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44:33
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44:33
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44:34
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44:35
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44:35
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44:35
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44:35
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44:35
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44:37
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44:38
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44:38
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44:39
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44:39
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44:40
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44:51
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