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Aapryl and Zephyr: Elevating Investment Decisions with Data-Driven Insights · Views from 6,230

• 0:11
  Let's
• 0:11
  go.
• 0:18
  Ryan: Hello
• 0:18
  Ryan: everyone
• 0:19
  Ryan: and
• 0:19
  Ryan: welcome
• 0:19
  Ryan: to
• 0:19
  Ryan: zephyr's
• 0:20
  Ryan: adjusted
• 0:20
  Ryan: for
• 0:21
  Ryan: Risk
• 0:21
  Ryan: Podcast
• 0:22
  Ryan: from
• 0:22
  Ryan: the
• 0:22
  Ryan: shores
• 0:23
  Ryan: of
• 0:23
  Ryan: Lake
• 0:23
  Ryan: Tahoe.
• 0:24
  Ryan: I'm
• 0:24
  Ryan: Ryan
• 0:25
  Ryan: Amman,
• 0:25
  Ryan: the
• 0:25
  Ryan: market
• 0:25
  Ryan: strategist
• 0:26
  Ryan: here
• 0:26
  Ryan: at
• 0:27
  Ryan: Zephyr.
• 0:28
  Ryan: Like
• 0:28
  Ryan: so
• 0:28
  Ryan: many
• 0:29
  Ryan: other
• 0:29
  Ryan: aspects
• 0:30
  Ryan: within
• 0:30
  Ryan: the
• 0:30
  Ryan: wealth
• 0:30
  Ryan: management
• 0:31
  Ryan: space,
• 0:32
  Ryan: the
• 0:32
  Ryan: different
• 0:32
  Ryan: ways
• 0:33
  Ryan: allocators
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  Ryan: and
• 0:34
  Ryan: wealth
• 0:34
  Ryan: managers
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  Ryan: can
• 0:35
  Ryan: analyze
• 0:36
  Ryan: investment
• 0:36
  Ryan: strategies.
• 0:38
  Ryan: managers
• 0:38
  Ryan: has
• 0:39
  Ryan: evolved.
• 0:40
  Ryan: One
• 0:40
  Ryan: can
• 0:40
  Ryan: look
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  Ryan: at
• 0:41
  Ryan: the
• 0:41
  Ryan: underlining
• 0:42
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• 0:42
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• 0:43
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• 0:43
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• 0:43
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• 0:44
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• 0:44
  Ryan: to
• 0:45
  Ryan: uncover
• 0:45
  Ryan: performance
• 0:46
  Ryan: behavior.
• 0:47
  Ryan: Well,
• 0:48
  Ryan: I
• 0:48
  Ryan: am
• 0:48
  Ryan: lucky
• 0:49
  Ryan: to
• 0:49
  Ryan: have
• 0:49
  Ryan: on
• 0:50
  Ryan: two
• 0:50
  Ryan: industry
• 0:51
  Ryan: experts
• 0:52
  Ryan: who
• 0:52
  Ryan: can
• 0:52
  Ryan: help
• 0:52
  Ryan: us
• 0:53
  Ryan: understand
• 0:53
  Ryan: the
• 0:53
  Ryan: different
• 0:54
  Ryan: approaches
• 0:55
  Ryan: and
• 0:55
  Ryan: what
• 0:55
  Ryan: they
• 0:55
  Ryan: believe.
• 0:56
  Ryan: Might
• 0:56
  Ryan: be
• 0:57
  Ryan: the
• 0:57
  Ryan: more
• 0:57
  Ryan: superior
• 0:58
  Ryan: approach.
• 0:59
  Ryan: But
• 0:59
  Ryan: first,
• 0:59
  Ryan: today's
• 1:00
  Ryan: episode
• 1:00
  Ryan: is
• 1:01
  Ryan: sponsored
• 1:01
  Ryan: by
• 1:01
  Ryan: the
• 1:01
  Ryan: award-winning
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  Ryan: Zephyr,
• 1:03
  Ryan: which
• 1:03
  Ryan: helps
• 1:03
  Ryan: investment
• 1:04
  Ryan: professionals
• 1:05
  Ryan: make
• 1:05
  Ryan: more
• 1:06
  Ryan: informed
• 1:06
  Ryan: investment
• 1:07
  Ryan: decisions
• 1:08
  Ryan: on
• 1:08
  Ryan: behalf
• 1:08
  Ryan: flare
• 1:08
  Ryan: clients.
• 1:09
  Ryan: Alright,
• 1:09
  Ryan: I've
• 1:10
  Ryan: already
• 1:10
  Ryan: talked
• 1:11
  Ryan: enough.
• 1:11
  Ryan: Let's
• 1:12
  Ryan: go
• 1:12
  Ryan: ahead
• 1:12
  Ryan: and
• 1:12
  Ryan: move
• 1:12
  Ryan: on
• 1:13
  Ryan: to
• 1:13
  Ryan: the
• 1:13
  Ryan: stars
• 1:14
  Ryan: of
• 1:14
  Ryan: the
• 1:14
  Ryan: show.
• 1:15
  Ryan: I
• 1:15
  Ryan: am
• 1:16
  Ryan: honored.
• 1:17
  Ryan: I'm
• 1:17
  Ryan: very
• 1:17
  Ryan: excited
• 1:17
  Ryan: to
• 1:18
  Ryan: welcome
• 1:18
  Ryan: Bill
• 1:19
  Ryan: Hemley
• 1:20
  Ryan: and
• 1:20
  Ryan: she
• 1:20
  Ryan: Cesar
• 1:21
  Ryan: Gonzalez.
• 1:22
  Ryan: Bill
• 1:23
  Ryan: is
• 1:23
  Ryan: the
• 1:23
  Ryan: Director
• 1:24
  Ryan: of
• 1:24
  Ryan: Product
• 1:24
  Ryan: and
• 1:25
  Ryan: account
• 1:25
  Ryan: Management,
• 1:26
  Ryan: and
• 1:26
  Ryan: Cesar
• 1:27
  Ryan: is
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  Ryan: the
• 1:28
  Ryan: lead
• 1:29
  Ryan: client
• 1:29
  Ryan: consultant.
• 1:30
  Ryan: At
• 1:31
  Ryan: April,
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  Ryan: both
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  Ryan: of
• 1:32
  Ryan: them
• 1:32
  Ryan: from
• 1:32
  Ryan: April,
• 1:34
  Ryan: and
• 1:34
  Ryan: Cesar.
• 1:35
  Ryan: Thank
• 1:35
  Ryan: you
• 1:35
  Ryan: so
• 1:35
  Ryan: much
• 1:36
  Ryan: for
• 1:36
  Ryan: coming
• 1:36
  Ryan: on.
• 1:37
  Ryan: Really,
• 1:37
  Ryan: it's
• 1:37
  Ryan: an
• 1:37
  Ryan: honor
• 1:38
  Ryan: to
• 1:38
  Ryan: have
• 1:38
  Ryan: you
• 1:38
  Ryan: on.
• 1:39
  Ryan: I've
• 1:39
  Ryan: known
• 1:40
  Ryan: you
• 1:40
  Ryan: guys
• 1:40
  Ryan: for
• 1:40
  Ryan: some
• 1:40
  Ryan: time,
• 1:41
  Ryan: Cesar.
• 1:41
  Ryan: We've
• 1:41
  Ryan: worked
• 1:42
  Ryan: together
• 1:42
  Ryan: in
• 1:42
  Ryan: the
• 1:42
  Ryan: past
• 1:43
  Ryan: and
• 1:43
  Ryan: some
• 1:44
  Ryan: content
• 1:44
  Ryan: in
• 1:44
  Ryan: the
• 1:44
  Ryan: past.
• 1:45
  Ryan: It's
• 1:45
  Ryan: gonna
• 1:45
  Ryan: be
• 1:45
  Ryan: a
• 1:45
  Ryan: great
• 1:46
  Ryan: conversation.
• 1:47
  Ryan: Really
• 1:47
  Ryan: excited
• 1:48
  Ryan: about
• 1:48
  Ryan: it.
• 1:49
  Ryan: You
• 1:49
  Ryan: know,
• 1:49
  Ryan: Kim
• 1:50
  Ryan: you
• 1:50
  Ryan: please
• 1:50
  Ryan: tell
• 1:50
  Ryan: us
• 1:51
  Ryan: a
• 1:51
  Ryan: little
• 1:51
  Ryan: bit
• 1:51
  Ryan: more
• 1:51
  Ryan: about
• 1:52
  Ryan: yourself
• 1:52
  Ryan: in
• 1:52
  Ryan: April.
• 1:53
  Ryan: Let's
• 1:53
  Ryan: go
• 1:53
  Ryan: ahead
• 1:54
  Ryan: and
• 1:54
  Ryan: start
• 1:54
  Ryan: with
• 1:54
  Ryan: you,
• 1:54
  Ryan: bill.
• 1:56
  Bill Himpele: So
• 1:56
  Bill Himpele: thank
• 1:56
  Bill Himpele: you
• 1:56
  Bill Himpele: very
• 1:57
  Bill Himpele: much,
• 1:57
  Bill Himpele: Ryan,
• 1:57
  Bill Himpele: for
• 1:57
  Bill Himpele: having
• 1:57
  Bill Himpele: us
• 1:58
  Bill Himpele: on
• 1:58
  Bill Himpele: today.
• 1:58
  Bill Himpele: We're,
• 1:58
  Bill Himpele: we're
• 1:58
  Bill Himpele: certainly
• 1:59
  Bill Himpele: excited
• 1:59
  Bill Himpele: and
• 1:59
  Bill Himpele: proud
• 2:00
  Bill Himpele: to,
• 2:00
  Bill Himpele: to,
• 2:00
  Bill Himpele: to
• 2:00
  Bill Himpele: speak
• 2:01
  Bill Himpele: with
• 2:01
  Bill Himpele: you
• 2:01
  Bill Himpele: here.
• 2:01
  Bill Himpele: So
• 2:02
  Bill Himpele: I
• 2:02
  Bill Himpele: am
• 2:02
  Bill Himpele: the
• 2:02
  Bill Himpele: Director
• 2:02
  Bill Himpele: of
• 2:02
  Bill Himpele: Product
• 2:03
  Bill Himpele: management
• 2:03
  Bill Himpele: in
• 2:03
  Bill Himpele: April.
• 2:04
  Bill Himpele: I've
• 2:04
  Bill Himpele: been
• 2:05
  Bill Himpele: in
• 2:05
  Bill Himpele: the
• 2:05
  Bill Himpele: industry
• 2:05
  Bill Himpele: for
• 2:05
  Bill Himpele: about
• 2:05
  Bill Himpele: 20
• 2:06
  Bill Himpele: years
• 2:06
  Bill Himpele: in,
• 2:07
  Bill Himpele: in
• 2:07
  Bill Himpele: with
• 2:07
  Bill Himpele: investment
• 2:08
  Bill Himpele: management
• 2:08
  Bill Himpele: technology.
• 2:09
  Bill Himpele: And
• 2:09
  Bill Himpele: I
• 2:09
  Bill Himpele: lead
• 2:09
  Bill Himpele: the
• 2:09
  Bill Himpele: product
• 2:10
  Bill Himpele: strategy
• 2:10
  Bill Himpele: for
• 2:10
  Bill Himpele: our
• 2:10
  Bill Himpele: April
• 2:11
  Bill Himpele: platform
• 2:12
  Bill Himpele: and
• 2:12
  Bill Himpele: the
• 2:12
  Bill Himpele: April
• 2:12
  Bill Himpele: platform
• 2:13
  Bill Himpele: Decomposes
• 2:13
  Bill Himpele: manager
• 2:14
  Bill Himpele: performance
• 2:14
  Bill Himpele: to
• 2:15
  Bill Himpele: try
• 2:15
  Bill Himpele: to
• 2:15
  Bill Himpele: find
• 2:15
  Bill Himpele: repeatable
• 2:16
  Bill Himpele: skills
• 2:17
  Bill Himpele: like
• 2:17
  Bill Himpele: stock
• 2:17
  Bill Himpele: selection
• 2:18
  Bill Himpele: or
• 2:18
  Bill Himpele: factor
• 2:18
  Bill Himpele: timing.
• 2:19
  Bill Himpele: Using
• 2:19
  Bill Himpele: peer,
• 2:19
  Bill Himpele: relative
• 2:20
  Bill Himpele: attribution
• 2:21
  Bill Himpele: trying
• 2:21
  Bill Himpele: to
• 2:21
  Bill Himpele: help
• 2:22
  Bill Himpele: allocators
• 2:22
  Bill Himpele: see,
• 2:23
  Bill Himpele: you
• 2:23
  Bill Himpele: know,
• 2:23
  Bill Himpele: beyond
• 2:23
  Bill Himpele: just
• 2:24
  Bill Himpele: the
• 2:24
  Bill Himpele: raw
• 2:24
  Bill Himpele: returns
• 2:24
  Bill Himpele: to
• 2:25
  Bill Himpele: try
• 2:25
  Bill Himpele: to
• 2:25
  Bill Himpele: identify
• 2:25
  Bill Himpele: a
• 2:25
  Bill Himpele: skill.
• 2:28
  Ryan: Fantastic.
• 2:30
  Cesar Gonzales: I'm
• 2:30
  Cesar Gonzales: Cesar
• 2:31
  Cesar Gonzales: Gonzalez.
• 2:31
  Cesar Gonzales: I've
• 2:31
  Cesar Gonzales: been
• 2:32
  Cesar Gonzales: in
• 2:32
  Cesar Gonzales: the
• 2:32
  Cesar Gonzales: industry
• 2:32
  Cesar Gonzales: for
• 2:32
  Cesar Gonzales: 35
• 2:33
  Cesar Gonzales: years
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  Cesar Gonzales: as
• 2:34
  Cesar Gonzales: an
• 2:34
  Cesar Gonzales: allocator,
• 2:35
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• 2:36
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  Cesar Gonzales: provide
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  Cesar Gonzales: we
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  Cesar Gonzales: talk
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  Cesar Gonzales: Zephyr
• 2:41
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• 2:50
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• 2:56
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• 2:59
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• 3:00
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• 3:04
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• 3:05
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• 3:22
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• 3:23
  Ryan: That's
• 3:24
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• 3:25
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• 3:25
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• 3:30
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• 3:34
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• 3:37
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• 3:38
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• 3:39
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• 3:46
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  Ryan: performance?
• 3:50
  Ryan: reporting
• 3:51
  Ryan: to
• 3:51
  Ryan: skill-based
• 3:52
  Ryan: analytics
• 3:53
  Ryan: when
• 3:53
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• 3:54
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• 3:54
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• 3:55
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• 3:55
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• 3:56
  Ryan: What's
• 3:56
  Ryan: the
• 3:56
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• 3:57
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• 3:57
  Ryan: two?
• 3:57
  Ryan: The,
• 3:58
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• 3:58
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• 3:59
  Ryan: only
• 3:59
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• 4:00
  Ryan: or
• 4:01
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• 4:05
  Cesar Gonzales: Ryan,
• 4:05
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  Cesar Gonzales: problem
• 4:17
  Cesar Gonzales: is
• 4:17
  Cesar Gonzales: that
• 4:17
  Cesar Gonzales: most
• 4:18
  Cesar Gonzales: outperformance
• 4:19
  Cesar Gonzales: is
• 4:19
  Cesar Gonzales: actually
• 4:19
  Cesar Gonzales: driven
• 4:20
  Cesar Gonzales: by
• 4:20
  Cesar Gonzales: market
• 4:20
  Cesar Gonzales: and
• 4:20
  Cesar Gonzales: style
• 4:21
  Cesar Gonzales: exposure,
• 4:22
  Cesar Gonzales: not
• 4:22
  Cesar Gonzales: manager
• 4:23
  Cesar Gonzales: skill.
• 4:23
  Cesar Gonzales: And
• 4:24
  Cesar Gonzales: those
• 4:24
  Cesar Gonzales: exposure
• 4:25
  Cesar Gonzales: are
• 4:25
  Cesar Gonzales: cyclical
• 4:25
  Cesar Gonzales: in
• 4:26
  Cesar Gonzales: nature.
• 4:26
  Cesar Gonzales: So
• 4:27
  Cesar Gonzales: what
• 4:27
  Cesar Gonzales: looks
• 4:27
  Cesar Gonzales: like
• 4:27
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• 4:27
  Cesar Gonzales: top
• 4:28
  Cesar Gonzales: manager
• 4:28
  Cesar Gonzales: in
• 4:28
  Cesar Gonzales: one
• 4:28
  Cesar Gonzales: period
• 4:29
  Cesar Gonzales: often
• 4:29
  Cesar Gonzales: doesn't
• 4:30
  Cesar Gonzales: persist
• 4:30
  Cesar Gonzales: in
• 4:30
  Cesar Gonzales: the
• 4:30
  Cesar Gonzales: next
• 4:31
  Cesar Gonzales: period.
• 4:31
  Cesar Gonzales: So
• 4:32
  Cesar Gonzales: using
• 4:32
  Cesar Gonzales: skill-based
• 4:33
  Cesar Gonzales: analysis
• 4:34
  Cesar Gonzales: changes
• 4:34
  Cesar Gonzales: that
• 4:35
  Cesar Gonzales: by
• 4:35
  Cesar Gonzales: asking
• 4:35
  Cesar Gonzales: a
• 4:35
  Cesar Gonzales: different
• 4:36
  Cesar Gonzales: question,
• 4:37
  Cesar Gonzales: did
• 4:38
  Cesar Gonzales: the
• 4:38
  Cesar Gonzales: manager
• 4:38
  Cesar Gonzales: do
• 4:39
  Cesar Gonzales: beyond
• 4:39
  Cesar Gonzales: the
• 4:39
  Cesar Gonzales: exposure
• 4:40
  Cesar Gonzales: they
• 4:40
  Cesar Gonzales: were
• 4:40
  Cesar Gonzales: taking?
• 4:42
  Cesar Gonzales: So
• 4:42
  Cesar Gonzales: that
• 4:42
  Cesar Gonzales: as
• 4:42
  Cesar Gonzales: an
• 4:42
  Cesar Gonzales: allocator.
• 4:44
  Cesar Gonzales: will
• 4:44
  Cesar Gonzales: pay
• 4:45
  Cesar Gonzales: the
• 4:45
  Cesar Gonzales: the
• 4:45
  Cesar Gonzales: alpha
• 4:46
  Cesar Gonzales: fee,
• 4:46
  Cesar Gonzales: not
• 4:47
  Cesar Gonzales: for
• 4:47
  Cesar Gonzales: a
• 4:47
  Cesar Gonzales: beta
• 4:47
  Cesar Gonzales: exposure.
• 4:50
  Ryan: Bill,
• 4:50
  Ryan: do
• 4:51
  Ryan: you
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• 4:51
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• 4:51
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• 4:51
  Ryan: add
• 4:51
  Ryan: there
• 4:52
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• 4:53
  Bill Himpele: Yeah,
• 4:54
  Bill Himpele: that's
• 4:54
  Bill Himpele: exactly
• 4:54
  Bill Himpele: right.
• 4:55
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• 4:55
  Bill Himpele: exactly
• 4:55
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• 4:55
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• 4:56
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• 4:56
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• 4:56
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• 4:56
  Bill Himpele: lot
• 4:56
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• 4:56
  Bill Himpele: the
• 4:56
  Bill Himpele: traditional
• 4:57
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• 4:57
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• 4:58
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• 4:58
  Bill Himpele: very
• 4:58
  Bill Himpele: persistent.
• 4:59
  Bill Himpele: Um,
• 5:00
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• 5:00
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• 5:00
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• 5:01
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• 5:01
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• 5:02
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• 5:02
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• 5:02
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• 5:02
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• 5:03
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• 5:03
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• 5:03
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• 5:03
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• 5:04
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• 5:04
  Bill Himpele: 36
• 5:04
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• 5:04
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• 5:04
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• 5:05
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• 5:05
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• 5:05
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• 5:05
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• 5:06
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• 5:07
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• 5:07
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• 5:07
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• 5:08
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• 5:08
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• 5:08
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• 5:08
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• 5:09
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• 5:09
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• 5:09
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• 5:09
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• 5:09
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• 5:10
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• 5:10
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• 5:10
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• 5:11
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• 5:11
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• 5:11
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• 5:11
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• 5:12
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• 5:12
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• 5:12
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• 5:12
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• 5:13
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• 5:13
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• 5:14
  Bill Himpele: what
• 5:14
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• 5:14
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• 5:15
  Bill Himpele: want
• 5:15
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• 5:15
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• 5:15
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• 5:15
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• 5:15
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• 5:15
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• 5:16
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• 5:17
  Ryan: I
• 5:17
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• 5:17
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• 5:17
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• 5:18
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• 5:18
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• 5:20
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• 5:20
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• 5:21
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• 5:21
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• 5:22
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• 5:22
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• 5:22
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• 5:22
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• 5:23
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• 5:23
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• 5:24
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• 5:24
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• 5:24
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• 5:24
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• 5:25
  Ryan: but
• 5:26
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• 5:26
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• 5:27
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• 5:27
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• 5:28
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• 5:28
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• 5:28
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• 5:29
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• 5:29
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• 5:29
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• 5:29
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• 5:31
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• 5:32
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• 5:32
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• 5:33
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• 5:34
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• 5:34
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• 5:34
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• 5:35
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• 5:36
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• 5:36
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• 5:36
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• 5:37
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• 5:37
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• 5:37
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• 5:38
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• 5:38
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• 5:38
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• 5:38
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• 5:39
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• 5:39
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• 5:39
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• 5:39
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• 5:39
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• 5:39
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• 5:40
  Ryan: Ron,
• 5:40
  Ryan: why
• 5:40
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• 5:40
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• 5:40
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• 5:41
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• 5:41
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• 5:41
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• 5:42
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• 5:42
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• 5:43
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• 5:43
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• 5:43
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• 5:43
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• 5:44
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• 5:44
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• 5:44
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• 5:44
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• 5:44
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• 5:45
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• 5:46
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• 5:46
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• 5:46
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• 5:47
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• 5:47
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• 5:47
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• 5:48
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• 5:49
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• 5:49
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• 5:50
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• 5:50
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• 5:51
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• 5:51
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• 5:51
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• 5:52
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• 5:52
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• 5:53
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• 5:53
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• 5:54
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• 5:54
  Ryan: they
• 5:54
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• 5:55
  Ryan: be
• 5:55
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• 5:55
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• 5:55
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• 5:55
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• 5:55
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• 5:56
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• 5:56
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• 5:56
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• 5:57
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• 5:57
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• 5:57
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• 5:58
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• 5:58
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• 5:58
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• 5:58
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• 5:59
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• 5:59
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• 5:59
  Ryan: up
• 6:00
  Ryan: perfectly
• 6:00
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• 6:01
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• 6:01
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• 6:02
  Ryan: the
• 6:02
  Ryan: most
• 6:02
  Ryan: important
• 6:03
  Ryan: part.
• 6:04
  Ryan: In
• 6:04
  Ryan: the
• 6:05
  Cesar Gonzales: So.
• 6:05
  Cesar Gonzales: If
• 6:05
  Cesar Gonzales: you,
• 6:06
  Cesar Gonzales: if
• 6:06
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• 6:06
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• 6:07
  Cesar Gonzales: of
• 6:07
  Cesar Gonzales: it,
• 6:07
  Cesar Gonzales: you
• 6:08
  Cesar Gonzales: know,
• 6:08
  Cesar Gonzales: the
• 6:08
  Cesar Gonzales: challenge
• 6:08
  Cesar Gonzales: really
• 6:09
  Cesar Gonzales: is
• 6:10
  Cesar Gonzales: everyone's
• 6:10
  Cesar Gonzales: used
• 6:10
  Cesar Gonzales: to
• 6:10
  Cesar Gonzales: looking
• 6:11
  Cesar Gonzales: at
• 6:11
  Cesar Gonzales: the
• 6:11
  Cesar Gonzales: traditional
• 6:11
  Cesar Gonzales: alpha
• 6:12
  Cesar Gonzales: or
• 6:12
  Cesar Gonzales: peer
• 6:13
  Cesar Gonzales: ranking,
• 6:14
  Cesar Gonzales: and
• 6:14
  Cesar Gonzales: they
• 6:14
  Cesar Gonzales: don't
• 6:14
  Cesar Gonzales: tend
• 6:15
  Cesar Gonzales: to
• 6:15
  Cesar Gonzales: be
• 6:15
  Cesar Gonzales: persistent
• 6:16
  Cesar Gonzales: you
• 6:17
  Cesar Gonzales: know,
• 6:18
  Cesar Gonzales: a,
• 6:18
  Cesar Gonzales: a
• 6:18
  Cesar Gonzales: measure
• 6:19
  Cesar Gonzales: of
• 6:19
  Cesar Gonzales: whether
• 6:19
  Cesar Gonzales: the
• 6:19
  Cesar Gonzales: manager
• 6:20
  Cesar Gonzales: has
• 6:20
  Cesar Gonzales: success.
• 6:21
  Cesar Gonzales: So
• 6:21
  Cesar Gonzales: you
• 6:21
  Cesar Gonzales: end
• 6:22
  Cesar Gonzales: up
• 6:22
  Cesar Gonzales: selecting
• 6:22
  Cesar Gonzales: managers
• 6:23
  Cesar Gonzales: based
• 6:23
  Cesar Gonzales: on
• 6:23
  Cesar Gonzales: what
• 6:23
  Cesar Gonzales: just
• 6:24
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• 6:25
  Cesar Gonzales: Not
• 6:25
  Cesar Gonzales: what
• 6:26
  Cesar Gonzales: likely
• 6:26
  Cesar Gonzales: to
• 6:26
  Cesar Gonzales: work
• 6:27
  Cesar Gonzales: because
• 6:27
  Cesar Gonzales: all
• 6:27
  Cesar Gonzales: the,
• 6:28
  Cesar Gonzales: you
• 6:28
  Cesar Gonzales: know,
• 6:28
  Cesar Gonzales: the
• 6:28
  Cesar Gonzales: information
• 6:28
  Cesar Gonzales: ratio,
• 6:29
  Cesar Gonzales: all
• 6:29
  Cesar Gonzales: those
• 6:30
  Cesar Gonzales: traditional
• 6:30
  Cesar Gonzales: metrics
• 6:31
  Cesar Gonzales: are
• 6:31
  Cesar Gonzales: backward
• 6:32
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• 6:33
  Cesar Gonzales: Now
• 6:33
  Cesar Gonzales: when
• 6:33
  Cesar Gonzales: you
• 6:33
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• 6:33
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• 6:34
  Cesar Gonzales: skill-based
• 6:34
  Cesar Gonzales: anana
• 6:36
  Cesar Gonzales: it
• 6:37
  Cesar Gonzales: shifts
• 6:37
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• 6:37
  Cesar Gonzales: conversation
• 6:38
  Cesar Gonzales: from
• 6:39
  Cesar Gonzales: who
• 6:39
  Cesar Gonzales: outperformed
• 6:41
  Cesar Gonzales: to
• 6:41
  Cesar Gonzales: who
• 6:42
  Cesar Gonzales: has
• 6:42
  Cesar Gonzales: repeatedly
• 6:43
  Cesar Gonzales: you
• 6:43
  Cesar Gonzales: know,
• 6:44
  Cesar Gonzales: have
• 6:44
  Cesar Gonzales: that
• 6:44
  Cesar Gonzales: process
• 6:45
  Cesar Gonzales: that
• 6:45
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• 6:45
  Cesar Gonzales: to
• 6:46
  Cesar Gonzales: outperformance.
• 6:47
  Cesar Gonzales: So,
• 6:47
  Cesar Gonzales: for
• 6:47
  Cesar Gonzales: example,
• 6:48
  Cesar Gonzales: you
• 6:49
  Cesar Gonzales: know.
• 6:50
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• 6:50
  Cesar Gonzales: you
• 6:50
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• 6:50
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• 6:50
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• 6:51
  Cesar Gonzales: manager,
• 6:51
  Cesar Gonzales: that
• 6:52
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• 6:52
  Cesar Gonzales: lead
• 6:52
  Cesar Gonzales: to
• 6:53
  Cesar Gonzales: better
• 6:53
  Cesar Gonzales: manager
• 6:53
  Cesar Gonzales: selection,
• 6:54
  Cesar Gonzales: better
• 6:55
  Cesar Gonzales: portfolio
• 6:55
  Cesar Gonzales: construction,
• 6:56
  Cesar Gonzales: and,
• 6:57
  Cesar Gonzales: and
• 6:57
  Cesar Gonzales: ultimately
• 6:58
  Cesar Gonzales: fewer
• 6:58
  Cesar Gonzales: surprises
• 6:59
  Cesar Gonzales: when
• 6:59
  Cesar Gonzales: the
• 7:00
  Cesar Gonzales: market
• 7:00
  Cesar Gonzales: condition
• 7:01
  Cesar Gonzales: changes
• 7:01
  Cesar Gonzales: because
• 7:02
  Cesar Gonzales: now
• 7:02
  Cesar Gonzales: you
• 7:02
  Cesar Gonzales: are
• 7:03
  Cesar Gonzales: trying
• 7:03
  Cesar Gonzales: to
• 7:03
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• 7:04
  Cesar Gonzales: the
• 7:04
  Cesar Gonzales: best
• 7:04
  Cesar Gonzales: manager
• 7:05
  Cesar Gonzales: or
• 7:05
  Cesar Gonzales: the
• 7:06
  Cesar Gonzales: one
• 7:06
  Cesar Gonzales: that
• 7:06
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• 7:06
  Cesar Gonzales: a
• 7:06
  Cesar Gonzales: higher
• 7:07
  Cesar Gonzales: probability
• 7:08
  Cesar Gonzales: of
• 7:08
  Cesar Gonzales: outperforming
• 7:09
  Cesar Gonzales: for
• 7:10
  Cesar Gonzales: a
• 7:10
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• 7:11
  Cesar Gonzales: role
• 7:11
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• 7:11
  Cesar Gonzales: the
• 7:11
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• 7:12
  Cesar Gonzales: instead
• 7:12
  Cesar Gonzales: of
• 7:13
  Cesar Gonzales: just
• 7:13
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• 7:14
  Cesar Gonzales: a
• 7:14
  Cesar Gonzales: manager.
• 7:15
  Cesar Gonzales: And
• 7:15
  Cesar Gonzales: expecting
• 7:16
  Cesar Gonzales: them
• 7:16
  Cesar Gonzales: to
• 7:16
  Cesar Gonzales: perform
• 7:17
  Cesar Gonzales: in
• 7:17
  Cesar Gonzales: all
• 7:17
  Cesar Gonzales: types
• 7:18
  Cesar Gonzales: of
• 7:18
  Cesar Gonzales: markets,
• 7:19
  Cesar Gonzales: all
• 7:19
  Cesar Gonzales: types
• 7:19
  Cesar Gonzales: of
• 7:19
  Cesar Gonzales: styles.
• 7:20
  Cesar Gonzales: The
• 7:22
  Cesar Gonzales: April
• 7:22
  Cesar Gonzales: Analytics
• 7:23
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• 7:23
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• 7:23
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• 7:24
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• 7:25
  Cesar Gonzales: more
• 7:25
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• 7:26
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• 7:26
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• 7:27
  Cesar Gonzales: whether
• 7:27
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• 7:27
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• 7:28
  Cesar Gonzales: has
• 7:28
  Cesar Gonzales: skill
• 7:29
  Cesar Gonzales: or
• 7:29
  Cesar Gonzales: not.
• 7:31
  Ryan: Bill,
• 7:33
  Ryan: so
• 7:34
  Ryan: let's,
• 7:34
  Ryan: turn
• 7:34
  Ryan: the
• 7:35
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• 7:35
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• 7:35
  Ryan: Why
• 7:35
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• 7:36
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• 7:36
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• 7:37
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• 7:37
  Ryan: skills-based
• 7:38
  Ryan: analytics
• 7:39
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• 7:39
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• 7:40
  Ryan: like
• 7:40
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• 7:41
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• 7:41
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• 7:41
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• 7:41
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• 7:41
  Ryan: advisors
• 7:42
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• 7:42
  Ryan: allocators,
• 7:43
  Ryan: the
• 7:44
  Ryan: people
• 7:44
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• 7:44
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• 7:44
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• 7:45
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• 7:45
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• 7:46
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• 7:46
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• 7:47
  Ryan: managers
• 7:47
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• 7:47
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• 7:48
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• 7:49
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• 7:50
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• 7:50
  Ryan: so
• 7:50
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• 7:51
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• 7:51
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• 7:51
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• 7:51
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• 7:51
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• 7:51
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• 7:52
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• 7:52
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• 7:52
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• 7:53
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• 7:53
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• 7:53
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• 7:54
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• 7:54
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• 7:54
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• 7:54
  Ryan: information
• 7:55
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• 7:56
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• 7:57
  Ryan: it's
• 7:57
  Ryan: backwards
• 7:58
  Ryan: looking.
• 7:58
  Ryan: Why
• 7:59
  Ryan: is
• 7:59
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• 7:59
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• 7:59
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• 8:00
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• 8:00
  Ryan: advisors
• 8:01
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• 8:01
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• 8:04
  Bill Himpele: I
• 8:04
  Bill Himpele: think
• 8:04
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• 8:04
  Bill Himpele: important
• 8:05
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• 8:05
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• 8:05
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• 8:06
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• 8:06
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• 8:06
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• 8:06
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• 8:06
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• 8:07
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• 8:07
  Bill Himpele: like
• 8:07
  Bill Himpele: Cesar
• 8:07
  Bill Himpele: just
• 8:08
  Bill Himpele: said,
• 8:08
  Bill Himpele: you
• 8:08
  Bill Himpele: know,
• 8:08
  Bill Himpele: who
• 8:09
  Bill Himpele: has
• 8:09
  Bill Himpele: the
• 8:09
  Bill Himpele: best
• 8:09
  Bill Himpele: process,
• 8:10
  Bill Himpele: who,
• 8:10
  Bill Himpele: you
• 8:10
  Bill Himpele: know,
• 8:10
  Bill Himpele: when
• 8:10
  Bill Himpele: the
• 8:10
  Bill Himpele: market
• 8:11
  Bill Himpele: conditions
• 8:11
  Bill Himpele: change,
• 8:12
  Bill Himpele: uh,
• 8:12
  Bill Himpele: and,
• 8:12
  Bill Himpele: and
• 8:13
  Bill Himpele: a
• 8:13
  Bill Himpele: manager
• 8:13
  Bill Himpele: who
• 8:13
  Bill Himpele: was
• 8:13
  Bill Himpele: in
• 8:13
  Bill Himpele: favor
• 8:14
  Bill Himpele: is
• 8:14
  Bill Himpele: no
• 8:14
  Bill Himpele: longer
• 8:14
  Bill Himpele: in
• 8:15
  Bill Himpele: favor.
• 8:15
  Bill Himpele: You
• 8:16
  Bill Himpele: still
• 8:16
  Bill Himpele: need
• 8:16
  Bill Himpele: that,
• 8:16
  Bill Himpele: that
• 8:17
  Bill Himpele: exposure
• 8:17
  Bill Himpele: for,
• 8:18
  Bill Himpele: for
• 8:18
  Bill Himpele: that
• 8:18
  Bill Himpele: type
• 8:18
  Bill Himpele: of
• 8:18
  Bill Himpele: style.
• 8:19
  Bill Himpele: So
• 8:19
  Bill Himpele: you
• 8:19
  Bill Himpele: still
• 8:19
  Bill Himpele: want
• 8:20
  Bill Himpele: to
• 8:20
  Bill Himpele: have
• 8:20
  Bill Himpele: a
• 8:20
  Bill Himpele: manager
• 8:20
  Bill Himpele: that
• 8:21
  Bill Himpele: may
• 8:21
  Bill Himpele: not
• 8:21
  Bill Himpele: be
• 8:21
  Bill Himpele: in
• 8:21
  Bill Himpele: favor,
• 8:22
  Bill Himpele: but
• 8:22
  Bill Himpele: you
• 8:22
  Bill Himpele: need
• 8:22
  Bill Himpele: the
• 8:22
  Bill Himpele: manager
• 8:23
  Bill Himpele: who's
• 8:23
  Bill Himpele: gonna
• 8:23
  Bill Himpele: outperform
• 8:24
  Bill Himpele: the
• 8:24
  Bill Himpele: other
• 8:24
  Bill Himpele: managers
• 8:25
  Bill Himpele: of
• 8:25
  Bill Himpele: that
• 8:25
  Bill Himpele: style.
• 8:26
  Bill Himpele: So
• 8:26
  Bill Himpele: we
• 8:26
  Bill Himpele: need
• 8:26
  Bill Himpele: to
• 8:26
  Bill Himpele: find
• 8:26
  Bill Himpele: managers.
• 8:28
  Bill Himpele: Who
• 8:28
  Bill Himpele: are
• 8:28
  Bill Himpele: going
• 8:28
  Bill Himpele: to
• 8:28
  Bill Himpele: outperform
• 8:29
  Bill Himpele: their
• 8:29
  Bill Himpele: peers.
• 8:30
  Bill Himpele: And
• 8:30
  Bill Himpele: so
• 8:30
  Bill Himpele: the
• 8:30
  Bill Himpele: skill
• 8:31
  Bill Himpele: is,
• 8:31
  Bill Himpele: or
• 8:32
  Bill Himpele: the,
• 8:32
  Bill Himpele: the,
• 8:32
  Bill Himpele: the
• 8:32
  Bill Himpele: task
• 8:33
  Bill Himpele: is
• 8:33
  Bill Himpele: to
• 8:33
  Bill Himpele: find
• 8:33
  Bill Himpele: the
• 8:33
  Bill Himpele: managers
• 8:34
  Bill Himpele: with
• 8:34
  Bill Himpele: the
• 8:34
  Bill Himpele: best
• 8:34
  Bill Himpele: skill,
• 8:35
  Bill Himpele: regardless
• 8:36
  Bill Himpele: of
• 8:36
  Bill Himpele: the
• 8:36
  Bill Himpele: market
• 8:36
  Bill Himpele: conditions.
• 8:38
  Bill Himpele: So
• 8:38
  Bill Himpele: I
• 8:38
  Bill Himpele: think
• 8:38
  Bill Himpele: that's
• 8:38
  Bill Himpele: sort
• 8:38
  Bill Himpele: of
• 8:39
  Bill Himpele: the
• 8:39
  Bill Himpele: reason
• 8:39
  Bill Himpele: why
• 8:39
  Bill Himpele: we,
• 8:39
  Bill Himpele: why
• 8:40
  Bill Himpele: we
• 8:40
  Bill Himpele: are,
• 8:40
  Bill Himpele: are
• 8:40
  Bill Himpele: shifting
• 8:41
  Bill Himpele: the
• 8:41
  Bill Himpele: look
• 8:41
  Bill Himpele: to
• 8:41
  Bill Himpele: the
• 8:41
  Bill Himpele: skill
• 8:42
  Bill Himpele: as
• 8:42
  Bill Himpele: opposed
• 8:42
  Bill Himpele: to
• 8:42
  Bill Himpele: just
• 8:43
  Bill Himpele: those,
• 8:43
  Bill Himpele: you
• 8:43
  Bill Himpele: know,
• 8:43
  Bill Himpele: who's
• 8:43
  Bill Himpele: outperforms
• 8:44
  Bill Himpele: their,
• 8:44
  Bill Himpele: their
• 8:44
  Bill Himpele: benchmark.
• 8:46
  Ryan: Yeah.
• 8:46
  Cesar Gonzales: and
• 8:47
  Cesar Gonzales: we
• 8:47
  Cesar Gonzales: start
• 8:47
  Cesar Gonzales: that
• 8:47
  Cesar Gonzales: really
• 8:48
  Cesar Gonzales: by
• 8:48
  Cesar Gonzales: fixing
• 8:48
  Cesar Gonzales: the
• 8:49
  Cesar Gonzales: benchmark
• 8:49
  Cesar Gonzales: problem.
• 8:50
  Cesar Gonzales: Instead
• 8:51
  Cesar Gonzales: of
• 8:51
  Cesar Gonzales: comparing
• 8:51
  Cesar Gonzales: a
• 8:51
  Cesar Gonzales: manager
• 8:52
  Cesar Gonzales: to
• 8:52
  Cesar Gonzales: a
• 8:52
  Cesar Gonzales: generic
• 8:53
  Cesar Gonzales: index,
• 8:54
  Cesar Gonzales: we
• 8:54
  Cesar Gonzales: build
• 8:54
  Cesar Gonzales: that
• 8:54
  Cesar Gonzales: style
• 8:55
  Cesar Gonzales: adjusted
• 8:55
  Cesar Gonzales: clone,
• 8:56
  Cesar Gonzales: which
• 8:56
  Cesar Gonzales: we
• 8:56
  Cesar Gonzales: call
• 8:57
  Cesar Gonzales: passive
• 8:57
  Cesar Gonzales: portfolio.
• 8:57
  Cesar Gonzales: That
• 8:58
  Cesar Gonzales: reflects
• 8:59
  Cesar Gonzales: the
• 8:59
  Cesar Gonzales: manager
• 8:59
  Cesar Gonzales: actual.
• 9:00
  Cesar Gonzales: Investments
• 9:01
  Cesar Gonzales: that
• 9:02
  Cesar Gonzales: leads
• 9:02
  Cesar Gonzales: us
• 9:02
  Cesar Gonzales: to
• 9:02
  Cesar Gonzales: isolate
• 9:03
  Cesar Gonzales: what
• 9:03
  Cesar Gonzales: portion
• 9:03
  Cesar Gonzales: of
• 9:03
  Cesar Gonzales: the
• 9:03
  Cesar Gonzales: return
• 9:04
  Cesar Gonzales: came
• 9:04
  Cesar Gonzales: from
• 9:05
  Cesar Gonzales: exposure
• 9:06
  Cesar Gonzales: versus
• 9:06
  Cesar Gonzales: what
• 9:07
  Cesar Gonzales: came
• 9:07
  Cesar Gonzales: from
• 9:07
  Cesar Gonzales: skill.
• 9:08
  Cesar Gonzales: And
• 9:08
  Cesar Gonzales: from
• 9:08
  Cesar Gonzales: there
• 9:08
  Cesar Gonzales: we
• 9:08
  Cesar Gonzales: can
• 9:08
  Cesar Gonzales: break
• 9:09
  Cesar Gonzales: skill
• 9:09
  Cesar Gonzales: into
• 9:09
  Cesar Gonzales: three
• 9:10
  Cesar Gonzales: components.
• 9:10
  Cesar Gonzales: You
• 9:10
  Cesar Gonzales: know,
• 9:11
  Cesar Gonzales: stock
• 9:11
  Cesar Gonzales: selection,
• 9:12
  Cesar Gonzales: their
• 9:12
  Cesar Gonzales: timing,
• 9:13
  Cesar Gonzales: their
• 9:13
  Cesar Gonzales: consistency,
• 9:14
  Cesar Gonzales: and
• 9:15
  Cesar Gonzales: and
• 9:15
  Cesar Gonzales: that
• 9:15
  Cesar Gonzales: would
• 9:16
  Cesar Gonzales: allow
• 9:16
  Cesar Gonzales: us
• 9:16
  Cesar Gonzales: to
• 9:16
  Cesar Gonzales: really
• 9:17
  Cesar Gonzales: test
• 9:18
  Cesar Gonzales: which
• 9:18
  Cesar Gonzales: of
• 9:18
  Cesar Gonzales: those
• 9:19
  Cesar Gonzales: persist
• 9:19
  Cesar Gonzales: over
• 9:20
  Cesar Gonzales: time.
• 9:21
  Cesar Gonzales: And
• 9:21
  Cesar Gonzales: in
• 9:21
  Cesar Gonzales: the
• 9:21
  Cesar Gonzales: end,
• 9:22
  Cesar Gonzales: we
• 9:23
  Cesar Gonzales: derive
• 9:23
  Cesar Gonzales: a
• 9:24
  Cesar Gonzales: forward
• 9:24
  Cesar Gonzales: looking
• 9:24
  Cesar Gonzales: view
• 9:25
  Cesar Gonzales: on
• 9:25
  Cesar Gonzales: the
• 9:25
  Cesar Gonzales: manager
• 9:25
  Cesar Gonzales: skill,
• 9:26
  Cesar Gonzales: not
• 9:26
  Cesar Gonzales: just
• 9:27
  Cesar Gonzales: a
• 9:27
  Cesar Gonzales: description
• 9:27
  Cesar Gonzales: of
• 9:27
  Cesar Gonzales: past
• 9:28
  Cesar Gonzales: performance.
• 9:30
  Ryan: Perfect.
• 9:31
  Ryan: And
• 9:31
  Ryan: that's
• 9:31
  Ryan: a
• 9:32
  Ryan: perfect
• 9:32
  Ryan: segue.
• 9:33
  Ryan: Cesar
• 9:34
  Ryan: is,
• 9:35
  Ryan: you
• 9:35
  Ryan: know,
• 9:36
  Ryan: how
• 9:36
  Ryan: does
• 9:36
  Ryan: April
• 9:37
  Ryan: address
• 9:37
  Ryan: this
• 9:38
  Ryan: shift
• 9:38
  Ryan: to
• 9:38
  Ryan: skill-based
• 9:39
  Ryan: analytics?
• 9:39
  Ryan: You
• 9:39
  Ryan: talked
• 9:40
  Ryan: or
• 9:40
  Ryan: you
• 9:40
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• 9:41
  Ryan: like
• 9:41
  Ryan: I
• 9:41
  Ryan: said.
• 9:42
  Ryan: You
• 9:42
  Ryan: know,
• 9:43
  Ryan: information
• 9:43
  Ryan: ratio,
• 9:44
  Ryan: it's
• 9:44
  Ryan: a
• 9:44
  Ryan: great
• 9:45
  Ryan: statistic,
• 9:45
  Ryan: measures
• 9:46
  Ryan: consistency
• 9:47
  Ryan: and
• 9:47
  Ryan: are
• 9:47
  Ryan: you
• 9:47
  Ryan: outperforming,
• 9:48
  Ryan: are
• 9:48
  Ryan: you
• 9:49
  Ryan: you
• 9:49
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• 9:50
  Ryan: offsetting
• 9:51
  Ryan: that
• 9:51
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• 9:52
  Ryan: the
• 9:52
  Ryan: manager's
• 9:53
  Ryan: charging,
• 9:54
  Ryan: but
• 9:54
  Ryan: also
• 9:55
  Ryan: there's
• 9:55
  Ryan: other
• 9:55
  Ryan: statistics
• 9:56
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• 9:56
  Ryan: are
• 9:56
  Ryan: backwards
• 9:57
  Ryan: looking.
• 9:58
  Ryan: there
• 9:58
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• 9:59
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• 9:59
  Ryan: that
• 10:00
  Ryan: you
• 10:00
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• 10:01
  Ryan: that
• 10:01
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• 10:01
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• 10:01
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• 10:01
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• 10:02
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• 10:02
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• 10:03
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• 10:03
  Ryan: they
• 10:03
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• 10:03
  Ryan: like
• 10:04
  Ryan: you
• 10:04
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• 10:04
  Ryan: based
• 10:05
  Ryan: on
• 10:05
  Ryan: skill
• 10:06
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• 10:06
  Ryan: other
• 10:06
  Ryan: just
• 10:07
  Ryan: analytics
• 10:07
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• 10:08
  Ryan: you
• 10:08
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• 10:08
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• 10:08
  Ryan: the
• 10:08
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• 10:09
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• 10:09
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• 10:10
  Ryan: help
• 10:11
  Ryan: you
• 10:11
  Ryan: forward
• 10:12
  Ryan: looking
• 10:12
  Ryan: analytics?
• 10:14
  Cesar Gonzales: Yeah.
• 10:15
  Cesar Gonzales: So
• 10:15
  Cesar Gonzales: one
• 10:15
  Cesar Gonzales: of
• 10:15
  Cesar Gonzales: the
• 10:16
  Cesar Gonzales: key
• 10:16
  Cesar Gonzales: metrics
• 10:17
  Cesar Gonzales: we
• 10:17
  Cesar Gonzales: have
• 10:17
  Cesar Gonzales: is
• 10:17
  Cesar Gonzales: the
• 10:17
  Cesar Gonzales: April
• 10:18
  Cesar Gonzales: score,
• 10:19
  Cesar Gonzales: which
• 10:19
  Cesar Gonzales: is
• 10:19
  Cesar Gonzales: rank
• 10:20
  Cesar Gonzales: one
• 10:20
  Cesar Gonzales: to
• 10:21
  Cesar Gonzales: five,
• 10:21
  Cesar Gonzales: one
• 10:21
  Cesar Gonzales: being
• 10:22
  Cesar Gonzales: the
• 10:22
  Cesar Gonzales: best,
• 10:22
  Cesar Gonzales: meaning
• 10:23
  Cesar Gonzales: that
• 10:23
  Cesar Gonzales: three
• 10:24
  Cesar Gonzales: years
• 10:24
  Cesar Gonzales: forward,
• 10:25
  Cesar Gonzales: we're
• 10:25
  Cesar Gonzales: predicting
• 10:25
  Cesar Gonzales: that
• 10:26
  Cesar Gonzales: this
• 10:26
  Cesar Gonzales: particular
• 10:26
  Cesar Gonzales: manager
• 10:27
  Cesar Gonzales: relative
• 10:27
  Cesar Gonzales: to
• 10:27
  Cesar Gonzales: their
• 10:28
  Cesar Gonzales: peer
• 10:28
  Cesar Gonzales: group,
• 10:29
  Cesar Gonzales: has
• 10:29
  Cesar Gonzales: a
• 10:29
  Cesar Gonzales: higher
• 10:30
  Cesar Gonzales: likelihood
• 10:31
  Cesar Gonzales: of
• 10:31
  Cesar Gonzales: outperforming,
• 10:32
  Cesar Gonzales: is
• 10:33
  Cesar Gonzales: a
• 10:33
  Cesar Gonzales: aggregation
• 10:34
  Cesar Gonzales: of
• 10:34
  Cesar Gonzales: different
• 10:35
  Cesar Gonzales: skill
• 10:36
  Cesar Gonzales: metrics
• 10:37
  Cesar Gonzales: where
• 10:37
  Cesar Gonzales: we
• 10:37
  Cesar Gonzales: look
• 10:38
  Cesar Gonzales: at
• 10:38
  Cesar Gonzales: each
• 10:38
  Cesar Gonzales: individual
• 10:39
  Cesar Gonzales: category,
• 10:40
  Cesar Gonzales: and
• 10:40
  Cesar Gonzales: depending
• 10:41
  Cesar Gonzales: on
• 10:41
  Cesar Gonzales: the
• 10:41
  Cesar Gonzales: category,
• 10:42
  Cesar Gonzales: it'll
• 10:42
  Cesar Gonzales: favor
• 10:44
  Cesar Gonzales: as
• 10:44
  Cesar Gonzales: a
• 10:45
  Cesar Gonzales: indicator.
• 10:45
  Cesar Gonzales: Either
• 10:46
  Cesar Gonzales: it's
• 10:46
  Cesar Gonzales: a
• 10:46
  Cesar Gonzales: consistency
• 10:48
  Cesar Gonzales: metrics,
• 10:48
  Cesar Gonzales: which
• 10:48
  Cesar Gonzales: is
• 10:49
  Cesar Gonzales: a,
• 10:49
  Cesar Gonzales: a
• 10:49
  Cesar Gonzales: modified
• 10:49
  Cesar Gonzales: batting
• 10:50
  Cesar Gonzales: average,
• 10:50
  Cesar Gonzales: or
• 10:51
  Cesar Gonzales: it
• 10:51
  Cesar Gonzales: could
• 10:51
  Cesar Gonzales: be
• 10:51
  Cesar Gonzales: the
• 10:51
  Cesar Gonzales: edge,
• 10:52
  Cesar Gonzales: which
• 10:52
  Cesar Gonzales: is
• 10:53
  Cesar Gonzales: you
• 10:53
  Cesar Gonzales: know,
• 10:53
  Cesar Gonzales: the
• 10:53
  Cesar Gonzales: magnitude
• 10:54
  Cesar Gonzales: of
• 10:54
  Cesar Gonzales: outperformance.
• 10:55
  Cesar Gonzales: And
• 10:55
  Cesar Gonzales: depending
• 10:56
  Cesar Gonzales: on
• 10:56
  Cesar Gonzales: what.
• 10:58
  Cesar Gonzales: It's
• 10:58
  Cesar Gonzales: showing
• 10:59
  Cesar Gonzales: us
• 11:00
  Cesar Gonzales: what's
• 11:00
  Cesar Gonzales: triggering
• 11:01
  Cesar Gonzales: managers,
• 11:03
  Cesar Gonzales: know,
• 11:03
  Cesar Gonzales: three
• 11:03
  Cesar Gonzales: years
• 11:03
  Cesar Gonzales: forward
• 11:04
  Cesar Gonzales: is
• 11:04
  Cesar Gonzales: what
• 11:05
  Cesar Gonzales: that
• 11:05
  Cesar Gonzales: measure
• 11:06
  Cesar Gonzales: will
• 11:06
  Cesar Gonzales: try
• 11:06
  Cesar Gonzales: to
• 11:06
  Cesar Gonzales: em
• 11:07
  Cesar Gonzales: to
• 11:07
  Cesar Gonzales: emphasize.
• 11:08
  Cesar Gonzales: And
• 11:08
  Cesar Gonzales: there's
• 11:08
  Cesar Gonzales: machine
• 11:09
  Cesar Gonzales: learning
• 11:09
  Cesar Gonzales: behind
• 11:10
  Cesar Gonzales: it.
• 11:10
  Cesar Gonzales: So
• 11:10
  Cesar Gonzales: what
• 11:10
  Cesar Gonzales: will
• 11:11
  Cesar Gonzales: happen
• 11:11
  Cesar Gonzales: now
• 11:11
  Cesar Gonzales: as
• 11:12
  Cesar Gonzales: an
• 11:12
  Cesar Gonzales: alligator
• 11:12
  Cesar Gonzales: is
• 11:12
  Cesar Gonzales: you,
• 11:14
  Cesar Gonzales: at
• 11:14
  Cesar Gonzales: the
• 11:14
  Cesar Gonzales: at
• 11:14
  Cesar Gonzales: the
• 11:14
  Cesar Gonzales: manager,
• 11:15
  Cesar Gonzales: you
• 11:15
  Cesar Gonzales: look
• 11:15
  Cesar Gonzales: at
• 11:15
  Cesar Gonzales: their
• 11:15
  Cesar Gonzales: April
• 11:16
  Cesar Gonzales: score
• 11:17
  Cesar Gonzales: and
• 11:17
  Cesar Gonzales: then
• 11:17
  Cesar Gonzales: you
• 11:17
  Cesar Gonzales: say,
• 11:18
  Cesar Gonzales: okay,
• 11:19
  Cesar Gonzales: I
• 11:19
  Cesar Gonzales: made
• 11:20
  Cesar Gonzales: a
• 11:20
  Cesar Gonzales: beta
• 11:20
  Cesar Gonzales: bet
• 11:20
  Cesar Gonzales: and
• 11:21
  Cesar Gonzales: I
• 11:21
  Cesar Gonzales: wanna
• 11:21
  Cesar Gonzales: be
• 11:21
  Cesar Gonzales: in
• 11:21
  Cesar Gonzales: this
• 11:21
  Cesar Gonzales: particular
• 11:22
  Cesar Gonzales: segment.
• 11:24
  Cesar Gonzales: Should
• 11:25
  Cesar Gonzales: I
• 11:25
  Cesar Gonzales: waste
• 11:25
  Cesar Gonzales: my
• 11:25
  Cesar Gonzales: time
• 11:26
  Cesar Gonzales: in
• 11:28
  Cesar Gonzales: evaluating,
• 11:29
  Cesar Gonzales: interviewing
• 11:29
  Cesar Gonzales: meanders
• 11:30
  Cesar Gonzales: that
• 11:30
  Cesar Gonzales: are
• 11:30
  Cesar Gonzales: below
• 11:30
  Cesar Gonzales: three,
• 11:31
  Cesar Gonzales: or
• 11:31
  Cesar Gonzales: should
• 11:31
  Cesar Gonzales: I
• 11:31
  Cesar Gonzales: focus
• 11:32
  Cesar Gonzales: my
• 11:32
  Cesar Gonzales: energy
• 11:33
  Cesar Gonzales: on
• 11:33
  Cesar Gonzales: those
• 11:33
  Cesar Gonzales: that
• 11:33
  Cesar Gonzales: have
• 11:34
  Cesar Gonzales: a
• 11:34
  Cesar Gonzales: score
• 11:34
  Cesar Gonzales: of
• 11:34
  Cesar Gonzales: 1,
• 11:35
  Cesar Gonzales: 2,
• 11:35
  Cesar Gonzales: 1,
• 11:36
  Cesar Gonzales: or
• 11:36
  Cesar Gonzales: two?
• 11:36
  Cesar Gonzales: So
• 11:37
  Cesar Gonzales: it
• 11:37
  Cesar Gonzales: becomes
• 11:38
  Cesar Gonzales: an
• 11:38
  Cesar Gonzales: efficiency
• 11:38
  Cesar Gonzales: tool
• 11:40
  Cesar Gonzales: as
• 11:40
  Cesar Gonzales: at
• 11:40
  Cesar Gonzales: same
• 11:40
  Cesar Gonzales: time
• 11:41
  Cesar Gonzales: it
• 11:41
  Cesar Gonzales: allows
• 11:42
  Cesar Gonzales: you
• 11:42
  Cesar Gonzales: to
• 11:43
  Cesar Gonzales: more
• 11:43
  Cesar Gonzales: refine
• 11:43
  Cesar Gonzales: and
• 11:44
  Cesar Gonzales: compare
• 11:44
  Cesar Gonzales: the
• 11:45
  Cesar Gonzales: managers
• 11:45
  Cesar Gonzales: relative
• 11:46
  Cesar Gonzales: to
• 11:46
  Cesar Gonzales: the
• 11:46
  Cesar Gonzales: o
• 11:46
  Cesar Gonzales: other
• 11:46
  Cesar Gonzales: options
• 11:47
  Cesar Gonzales: that
• 11:47
  Cesar Gonzales: you
• 11:47
  Cesar Gonzales: have.
• 11:49
  Ryan: Bill,
• 11:50
  Ryan: do
• 11:50
  Ryan: you
• 11:50
  Ryan: have
• 11:50
  Ryan: anything
• 11:50
  Ryan: to
• 11:51
  Ryan: add
• 11:51
  Ryan: there?
• 11:51
  Ryan: I
• 11:51
  Ryan: think
• 11:51
  Ryan: it's
• 11:51
  Ryan: very
• 11:52
  Ryan: important
• 11:52
  Ryan: to
• 11:52
  Ryan: do,
• 11:52
  Ryan: like,
• 11:53
  Ryan: you
• 11:53
  Ryan: know,
• 11:53
  Ryan: that
• 11:53
  Ryan: peer
• 11:53
  Ryan: comparison,
• 11:54
  Ryan: right?
• 11:55
  Ryan: Because
• 11:55
  Ryan: a
• 11:55
  Ryan: standalone.
• 11:57
  Ryan: or
• 11:58
  Ryan: four
• 11:58
  Ryan: or
• 11:58
  Ryan: five,
• 11:58
  Ryan: yes,
• 11:59
  Ryan: it
• 11:59
  Ryan: means
• 11:59
  Ryan: something,
• 12:00
  Ryan: but
• 12:00
  Ryan: it
• 12:00
  Ryan: means
• 12:00
  Ryan: so
• 12:01
  Ryan: much
• 12:01
  Ryan: more
• 12:01
  Ryan: when
• 12:01
  Ryan: you're
• 12:01
  Ryan: comparing
• 12:02
  Ryan: it
• 12:02
  Ryan: to
• 12:02
  Ryan: its
• 12:02
  Ryan: peers.
• 12:04
  Bill Himpele: Yeah,
• 12:04
  Bill Himpele: and
• 12:04
  Bill Himpele: that's
• 12:04
  Bill Himpele: foundational
• 12:05
  Bill Himpele: to
• 12:05
  Bill Himpele: the
• 12:05
  Bill Himpele: April
• 12:05
  Bill Himpele: methodology.
• 12:06
  Bill Himpele: Everything
• 12:07
  Bill Himpele: is,
• 12:07
  Bill Himpele: is
• 12:07
  Bill Himpele: essentially
• 12:07
  Bill Himpele: peer
• 12:08
  Bill Himpele: relative.
• 12:09
  Bill Himpele: Because
• 12:09
  Bill Himpele: you
• 12:09
  Bill Himpele: know,
• 12:10
  Bill Himpele: we,
• 12:10
  Bill Himpele: you
• 12:10
  Bill Himpele: know,
• 12:10
  Bill Himpele: you
• 12:10
  Bill Himpele: typically
• 12:11
  Bill Himpele: have
• 12:11
  Bill Himpele: already
• 12:11
  Bill Himpele: made
• 12:11
  Bill Himpele: a
• 12:11
  Bill Himpele: decision
• 12:12
  Bill Himpele: on
• 12:12
  Bill Himpele: the
• 12:12
  Bill Himpele: type
• 12:12
  Bill Himpele: of
• 12:12
  Bill Himpele: manager
• 12:13
  Bill Himpele: that
• 12:13
  Bill Himpele: you're
• 12:13
  Bill Himpele: looking
• 12:13
  Bill Himpele: to
• 12:13
  Bill Himpele: allocate
• 12:14
  Bill Himpele: towards.
• 12:15
  Bill Himpele: So
• 12:15
  Bill Himpele: what
• 12:15
  Bill Himpele: matters
• 12:15
  Bill Himpele: now
• 12:16
  Bill Himpele: is,
• 12:16
  Bill Himpele: okay,
• 12:16
  Bill Himpele: which
• 12:16
  Bill Himpele: manager
• 12:17
  Bill Himpele: does
• 12:18
  Bill Himpele: better
• 12:18
  Bill Himpele: than
• 12:18
  Bill Himpele: their
• 12:19
  Bill Himpele: peers?
• 12:19
  Bill Himpele: Um,
• 12:20
  Bill Himpele: and
• 12:20
  Bill Himpele: so
• 12:20
  Bill Himpele: everything,
• 12:20
  Bill Himpele: all
• 12:21
  Bill Himpele: of
• 12:21
  Bill Himpele: our
• 12:21
  Bill Himpele: metrics,
• 12:21
  Bill Himpele: all
• 12:21
  Bill Himpele: of
• 12:22
  Bill Himpele: our
• 12:22
  Bill Himpele: skill
• 12:22
  Bill Himpele: rankings.
• 12:23
  Bill Himpele: And
• 12:23
  Bill Himpele: ratings
• 12:24
  Bill Himpele: are
• 12:24
  Bill Himpele: all
• 12:24
  Bill Himpele: very
• 12:24
  Bill Himpele: much
• 12:25
  Bill Himpele: relative
• 12:25
  Bill Himpele: to
• 12:26
  Bill Himpele: a
• 12:26
  Bill Himpele: peer
• 12:26
  Bill Himpele: group.
• 12:27
  Bill Himpele: And
• 12:27
  Bill Himpele: we
• 12:27
  Bill Himpele: have
• 12:27
  Bill Himpele: a,
• 12:27
  Bill Himpele: a
• 12:28
  Bill Himpele: much
• 12:28
  Bill Himpele: more
• 12:28
  Bill Himpele: objective
• 12:29
  Bill Himpele: peer
• 12:29
  Bill Himpele: group
• 12:29
  Bill Himpele: too.
• 12:29
  Bill Himpele: You
• 12:29
  Bill Himpele: know,
• 12:30
  Bill Himpele: we
• 12:30
  Bill Himpele: don't
• 12:30
  Bill Himpele: just
• 12:30
  Bill Himpele: take,
• 12:31
  Bill Himpele: you
• 12:31
  Bill Himpele: know,
• 12:31
  Bill Himpele: our
• 12:31
  Bill Himpele: data
• 12:32
  Bill Himpele: feed
• 12:32
  Bill Himpele: and
• 12:32
  Bill Himpele: say,
• 12:33
  Bill Himpele: okay,
• 12:33
  Bill Himpele: this
• 12:33
  Bill Himpele: manager
• 12:33
  Bill Himpele: has
• 12:33
  Bill Himpele: assigned
• 12:34
  Bill Himpele: themselves
• 12:34
  Bill Himpele: into
• 12:34
  Bill Himpele: peer
• 12:35
  Bill Himpele: group
• 12:35
  Bill Himpele: A
• 12:35
  Bill Himpele: or
• 12:35
  Bill Himpele: B.
• 12:36
  Bill Himpele: Um,
• 12:36
  Bill Himpele: we
• 12:36
  Bill Himpele: actually
• 12:37
  Bill Himpele: objectively
• 12:37
  Bill Himpele: we'll
• 12:38
  Bill Himpele: reassign
• 12:38
  Bill Himpele: managers
• 12:39
  Bill Himpele: to
• 12:39
  Bill Himpele: a
• 12:39
  Bill Himpele: peer
• 12:39
  Bill Himpele: group
• 12:40
  Bill Himpele: if
• 12:40
  Bill Himpele: we
• 12:40
  Bill Himpele: feel
• 12:40
  Bill Himpele: that
• 12:40
  Bill Himpele: their
• 12:41
  Bill Himpele: actual
• 12:42
  Bill Himpele: performance
• 12:42
  Bill Himpele: dictates
• 12:43
  Bill Himpele: that.
• 12:43
  Bill Himpele: So
• 12:43
  Bill Himpele: it's
• 12:43
  Bill Himpele: a
• 12:43
  Bill Himpele: little
• 12:44
  Bill Himpele: bit
• 12:44
  Bill Himpele: more
• 12:44
  Bill Himpele: objective
• 12:44
  Bill Himpele: than
• 12:45
  Bill Himpele: just
• 12:45
  Bill Himpele: the
• 12:45
  Bill Himpele: standard
• 12:46
  Bill Himpele: peer
• 12:46
  Bill Himpele: group
• 12:46
  Bill Himpele: as
• 12:46
  Bill Himpele: well.
• 12:48
  Ryan: And
• 12:48
  Ryan: you.
• 12:48
  Cesar Gonzales: And.
• 12:49
  Ryan: Yeah,
• 12:49
  Ryan: go
• 12:49
  Ryan: ahead,
• 12:49
  Ryan: Cesar.
• 12:51
  Cesar Gonzales: The
• 12:51
  Cesar Gonzales: other
• 12:52
  Cesar Gonzales: data
• 12:52
  Cesar Gonzales: that's
• 12:53
  Cesar Gonzales: unique
• 12:53
  Cesar Gonzales: to
• 12:53
  Cesar Gonzales: April
• 12:54
  Cesar Gonzales: is
• 12:54
  Cesar Gonzales: the
• 12:54
  Cesar Gonzales: April
• 12:55
  Cesar Gonzales: expected
• 12:55
  Cesar Gonzales: alpha.
• 12:56
  Cesar Gonzales: So
• 12:57
  Cesar Gonzales: using
• 12:58
  Cesar Gonzales: kind
• 12:59
  Cesar Gonzales: of
• 12:59
  Cesar Gonzales: all
• 12:59
  Cesar Gonzales: the
• 12:59
  Cesar Gonzales: backward
• 13:00
  Cesar Gonzales: looking,
• 13:00
  Cesar Gonzales: you're
• 13:00
  Cesar Gonzales: just
• 13:01
  Cesar Gonzales: stating
• 13:01
  Cesar Gonzales: what's
• 13:02
  Cesar Gonzales: the
• 13:02
  Cesar Gonzales: excess
• 13:02
  Cesar Gonzales: return
• 13:03
  Cesar Gonzales: analyst,
• 13:03
  Cesar Gonzales: excess
• 13:03
  Cesar Gonzales: return
• 13:04
  Cesar Gonzales: of
• 13:04
  Cesar Gonzales: this
• 13:04
  Cesar Gonzales: manager
• 13:05
  Cesar Gonzales: from
• 13:06
  Cesar Gonzales: a,
• 13:06
  Cesar Gonzales: you
• 13:06
  Cesar Gonzales: know,
• 13:06
  Cesar Gonzales: a
• 13:06
  Cesar Gonzales: period
• 13:07
  Cesar Gonzales: of
• 13:07
  Cesar Gonzales: time
• 13:08
  Cesar Gonzales: we're
• 13:08
  Cesar Gonzales: projecting
• 13:09
  Cesar Gonzales: what
• 13:09
  Cesar Gonzales: we
• 13:09
  Cesar Gonzales: believe
• 13:10
  Cesar Gonzales: this
• 13:10
  Cesar Gonzales: manager
• 13:11
  Cesar Gonzales: can
• 13:11
  Cesar Gonzales: produce.
• 13:12
  Cesar Gonzales: As
• 13:12
  Cesar Gonzales: an
• 13:12
  Cesar Gonzales: alpha
• 13:13
  Cesar Gonzales: going
• 13:14
  Cesar Gonzales: forward.
• 13:15
  Cesar Gonzales: So
• 13:15
  Cesar Gonzales: that's
• 13:15
  Cesar Gonzales: kind
• 13:16
  Cesar Gonzales: of
• 13:16
  Cesar Gonzales: connected
• 13:16
  Cesar Gonzales: to
• 13:16
  Cesar Gonzales: the
• 13:16
  Cesar Gonzales: April
• 13:17
  Cesar Gonzales: score.
• 13:18
  Cesar Gonzales: There's
• 13:18
  Cesar Gonzales: a
• 13:18
  Cesar Gonzales: a
• 13:18
  Cesar Gonzales: given
• 13:19
  Cesar Gonzales: April
• 13:20
  Cesar Gonzales: expected
• 13:20
  Cesar Gonzales: alpha,
• 13:21
  Cesar Gonzales: and
• 13:21
  Cesar Gonzales: this
• 13:22
  Cesar Gonzales: is
• 13:22
  Cesar Gonzales: helpful
• 13:22
  Cesar Gonzales: for
• 13:22
  Cesar Gonzales: managers
• 13:23
  Cesar Gonzales: or,
• 13:24
  Cesar Gonzales: or
• 13:24
  Cesar Gonzales: allocators
• 13:25
  Cesar Gonzales: because
• 13:25
  Cesar Gonzales: if
• 13:26
  Cesar Gonzales: the
• 13:26
  Cesar Gonzales: expected
• 13:27
  Cesar Gonzales: alpha
• 13:28
  Cesar Gonzales: from
• 13:28
  Cesar Gonzales: a
• 13:28
  Cesar Gonzales: manager
• 13:29
  Cesar Gonzales: or
• 13:29
  Cesar Gonzales: for
• 13:29
  Cesar Gonzales: the
• 13:29
  Cesar Gonzales: entire
• 13:29
  Cesar Gonzales: group
• 13:30
  Cesar Gonzales: is
• 13:30
  Cesar Gonzales: very
• 13:31
  Cesar Gonzales: minimal.
• 13:32
  Cesar Gonzales: Maybe
• 13:32
  Cesar Gonzales: that's,
• 13:32
  Cesar Gonzales: when
• 13:32
  Cesar Gonzales: you
• 13:33
  Cesar Gonzales: say,
• 13:33
  Cesar Gonzales: for
• 13:33
  Cesar Gonzales: this
• 13:33
  Cesar Gonzales: particular
• 13:34
  Cesar Gonzales: category,
• 13:35
  Cesar Gonzales: I
• 13:35
  Cesar Gonzales: index
• 13:35
  Cesar Gonzales: them.
• 13:36
  Cesar Gonzales: But
• 13:36
  Cesar Gonzales: if
• 13:36
  Cesar Gonzales: there's
• 13:37
  Cesar Gonzales: a
• 13:37
  Cesar Gonzales: lot
• 13:37
  Cesar Gonzales: of
• 13:37
  Cesar Gonzales: alpha
• 13:38
  Cesar Gonzales: opportunities,
• 13:39
  Cesar Gonzales: when
• 13:40
  Cesar Gonzales: you
• 13:40
  Cesar Gonzales: say,
• 13:40
  Cesar Gonzales: okay,
• 13:40
  Cesar Gonzales: let
• 13:41
  Cesar Gonzales: me
• 13:41
  Cesar Gonzales: find
• 13:41
  Cesar Gonzales: the
• 13:41
  Cesar Gonzales: best
• 13:42
  Cesar Gonzales: active
• 13:42
  Cesar Gonzales: manager
• 13:43
  Cesar Gonzales: that
• 13:43
  Cesar Gonzales: would
• 13:44
  Cesar Gonzales: fit
• 13:44
  Cesar Gonzales: what
• 13:44
  Cesar Gonzales: we're
• 13:44
  Cesar Gonzales: looking
• 13:45
  Cesar Gonzales: for
• 13:45
  Cesar Gonzales: from
• 13:45
  Cesar Gonzales: a
• 13:45
  Cesar Gonzales: risk
• 13:46
  Cesar Gonzales: return
• 13:46
  Cesar Gonzales: profile.
• 13:48
  Ryan: Yeah,
• 13:48
  Ryan: that's
• 13:48
  Ryan: great.
• 13:49
  Ryan: And
• 13:50
  Ryan: to
• 13:50
  Ryan: go
• 13:50
  Ryan: back
• 13:50
  Ryan: to
• 13:50
  Ryan: Bill,
• 13:51
  Ryan: your
• 13:51
  Ryan: universe
• 13:52
  Ryan: that
• 13:52
  Ryan: you
• 13:52
  Ryan: guys
• 13:52
  Ryan: create,
• 13:53
  Ryan: it's
• 13:53
  Ryan: return
• 13:53
  Ryan: based
• 13:54
  Ryan: on
• 13:54
  Ryan: return.
• 13:55
  Ryan: Zephyr
• 13:55
  Ryan: does
• 13:55
  Ryan: the
• 13:55
  Ryan: same
• 13:55
  Ryan: thing.
• 13:57
  Ryan: It's
• 13:57
  Ryan: all,
• 13:58
  Ryan: you
• 13:58
  Ryan: know,
• 13:58
  Ryan: it's
• 13:58
  Ryan: built
• 13:59
  Ryan: on
• 13:59
  Ryan: returns
• 13:59
  Ryan: based
• 14:00
  Ryan: style
• 14:00
  Ryan: analysis
• 14:01
  Ryan: to
• 14:01
  Ryan: look
• 14:02
  Ryan: at
• 14:02
  Ryan: a
• 14:02
  Ryan: manager's
• 14:03
  Ryan: behavior
• 14:04
  Ryan: versus
• 14:04
  Ryan: the
• 14:04
  Ryan: holdings.
• 14:05
  Ryan: I
• 14:05
  Ryan: think,
• 14:06
  Ryan: especially
• 14:07
  Ryan: right
• 14:07
  Ryan: now
• 14:07
  Ryan: in
• 14:08
  Ryan: the
• 14:08
  Ryan: industry
• 14:08
  Ryan: where,
• 14:10
  Ryan: you
• 14:10
  Ryan: know,
• 14:10
  Ryan: there's
• 14:11
  Ryan: a
• 14:11
  Ryan: lot
• 14:11
  Ryan: of
• 14:11
  Ryan: large
• 14:11
  Ryan: growth
• 14:12
  Ryan: managers
• 14:12
  Ryan: that
• 14:12
  Ryan: also
• 14:13
  Ryan: produce
• 14:13
  Ryan: a
• 14:13
  Ryan: dividend
• 14:14
  Ryan: sure.
• 14:14
  Ryan: Valuation
• 14:15
  Ryan: metrics.
• 14:16
  Ryan: They
• 14:16
  Ryan: might
• 14:16
  Ryan: be
• 14:16
  Ryan: on
• 14:17
  Ryan: the
• 14:17
  Ryan: growth
• 14:17
  Ryan: side,
• 14:18
  Ryan: but
• 14:19
  Ryan: they
• 14:19
  Ryan: sometimes
• 14:19
  Ryan: act
• 14:20
  Ryan: like
• 14:20
  Ryan: a
• 14:20
  Ryan: value
• 14:21
  Ryan: manager
• 14:21
  Ryan: too,
• 14:21
  Ryan: because
• 14:22
  Ryan: of
• 14:22
  Ryan: the
• 14:22
  Ryan: dividends
• 14:22
  Ryan: they
• 14:23
  Ryan: produce
• 14:23
  Ryan: too.
• 14:23
  Ryan: So.
• 14:25
  Ryan: I
• 14:25
  Ryan: prefer
• 14:26
  Ryan: the
• 14:26
  Ryan: returns
• 14:27
  Ryan: base
• 14:27
  Ryan: more
• 14:28
  Ryan: so
• 14:28
  Ryan: than
• 14:28
  Ryan: holdings.
• 14:29
  Ryan: And
• 14:29
  Ryan: Holdings
• 14:29
  Ryan: is,
• 14:29
  Ryan: sorry,
• 14:30
  Ryan: how
• 14:30
  Ryan: many
• 14:31
  Ryan: mutual
• 14:31
  Ryan: funds
• 14:31
  Ryan: give
• 14:32
  Ryan: you
• 14:32
  Ryan: all
• 14:32
  Ryan: the
• 14:32
  Ryan: holdings?
• 14:33
  Ryan: Right,
• 14:35
  Ryan: right.
• 14:35
  Ryan: So,
• 14:36
  Bill Himpele: That's
• 14:37
  Bill Himpele: exactly
• 14:37
  Bill Himpele: right.
• 14:37
  Bill Himpele: And
• 14:37
  Bill Himpele: the,
• 14:37
  Bill Himpele: and
• 14:38
  Bill Himpele: the
• 14:38
  Bill Himpele: data's
• 14:38
  Bill Himpele: very,
• 14:38
  Bill Himpele: because
• 14:39
  Bill Himpele: the
• 14:39
  Bill Himpele: data's
• 14:39
  Bill Himpele: very
• 14:39
  Bill Himpele: hard
• 14:40
  Bill Himpele: to
• 14:40
  Bill Himpele: get
• 14:40
  Bill Himpele: and
• 14:40
  Bill Himpele: it's
• 14:40
  Bill Himpele: very
• 14:41
  Bill Himpele: time
• 14:41
  Bill Himpele: consuming.
• 14:42
  Bill Himpele: Um,
• 14:42
  Bill Himpele: what's
• 14:43
  Bill Himpele: great
• 14:43
  Bill Himpele: about
• 14:43
  Bill Himpele: April
• 14:43
  Bill Himpele: and
• 14:43
  Bill Himpele: what's
• 14:43
  Bill Himpele: great
• 14:44
  Bill Himpele: about
• 14:44
  Bill Himpele: returns
• 14:44
  Bill Himpele: based
• 14:44
  Bill Himpele: is
• 14:45
  Bill Himpele: that
• 14:45
  Bill Himpele: you
• 14:45
  Bill Himpele: can
• 14:45
  Bill Himpele: very
• 14:45
  Bill Himpele: quickly
• 14:46
  Bill Himpele: you
• 14:46
  Bill Himpele: know,
• 14:46
  Bill Himpele: pull
• 14:46
  Bill Himpele: up
• 14:47
  Bill Himpele: a
• 14:47
  Bill Himpele: manager
• 14:47
  Bill Himpele: and
• 14:47
  Bill Himpele: almost
• 14:48
  Bill Himpele: immediately
• 14:48
  Bill Himpele: get
• 14:48
  Bill Himpele: some
• 14:48
  Bill Himpele: insights,
• 14:50
  Ryan: Yeah,
• 14:50
  Ryan: versus
• 14:51
  Ryan: trying
• 14:51
  Ryan: to
• 14:51
  Ryan: figure
• 14:52
  Ryan: out
• 14:52
  Ryan: exactly
• 14:52
  Ryan: what
• 14:53
  Ryan: the
• 14:53
  Ryan: hold,
• 14:53
  Ryan: you
• 14:53
  Ryan: know,
• 14:54
  Bill Himpele: right.
• 14:54
  Ryan: are
• 14:55
  Ryan: and
• 14:55
  Ryan: that's
• 14:56
  Ryan: what's
• 14:56
  Ryan: great
• 14:56
  Ryan: about
• 14:56
  Ryan: separately
• 14:57
  Ryan: managed
• 14:57
  Ryan: accounts
• 14:58
  Ryan: even
• 14:58
  Ryan: ETFs
• 14:58
  Ryan: or
• 14:59
  Ryan: is
• 14:59
  Ryan: that
• 14:59
  Ryan: more,
• 14:59
  Ryan: more
• 15:00
  Ryan: transparency.
• 15:01
  Ryan: So
• 15:01
  Ryan: maybe
• 15:02
  Ryan: holdings
• 15:02
  Ryan: space
• 15:02
  Ryan: is
• 15:03
  Ryan: a
• 15:03
  Ryan: little
• 15:03
  Ryan: bit
• 15:03
  Ryan: more
• 15:03
  Ryan: efficient
• 15:04
  Ryan: there,
• 15:04
  Ryan: but
• 15:04
  Ryan: in
• 15:05
  Ryan: terms
• 15:05
  Ryan: of
• 15:05
  Ryan: mutual
• 15:05
  Ryan: funds,
• 15:06
  Ryan: returns
• 15:06
  Ryan: based
• 15:07
  Ryan: is,
• 15:07
  Ryan: so
• 15:07
  Ryan: much
• 15:07
  Ryan: more
• 15:08
  Ryan: efficient,
• 15:08
  Ryan: like
• 15:08
  Ryan: you
• 15:08
  Ryan: said,
• 15:09
  Ryan: timely.
• 15:09
  Ryan: So
• 15:10
  Ryan: speaking
• 15:10
  Ryan: of
• 15:10
  Ryan: that,
• 15:11
  Ryan: and
• 15:11
  Ryan: Zephyr
• 15:12
  Ryan: and
• 15:13
  Ryan: April
• 15:14
  Ryan: the
• 15:14
  Ryan: two
• 15:14
  Ryan: firms
• 15:15
  Ryan: recently
• 15:15
  Ryan: made
• 15:15
  Ryan: news
• 15:16
  Ryan: about
• 15:16
  Ryan: a
• 15:16
  Ryan: strategic
• 15:17
  Ryan: partnership.
• 15:18
  Ryan: Bill,
• 15:18
  Ryan: can
• 15:18
  Ryan: you
• 15:19
  Ryan: please
• 15:19
  Ryan: tell
• 15:19
  Ryan: us
• 15:19
  Ryan: a
• 15:19
  Ryan: little
• 15:19
  Ryan: bit
• 15:19
  Ryan: more
• 15:20
  Ryan: about
• 15:20
  Ryan: that
• 15:20
  Ryan: partnership?
• 15:22
  Bill Himpele: We're
• 15:22
  Bill Himpele: really
• 15:22
  Bill Himpele: excited
• 15:23
  Bill Himpele: about
• 15:23
  Bill Himpele: this.
• 15:23
  Bill Himpele: Um,
• 15:24
  Bill Himpele: so
• 15:24
  Bill Himpele: I
• 15:24
  Bill Himpele: guess
• 15:24
  Bill Himpele: it
• 15:24
  Bill Himpele: was
• 15:25
  Bill Himpele: early
• 15:25
  Bill Himpele: January,
• 15:26
  Bill Himpele: um,
• 15:26
  Bill Himpele: we
• 15:26
  Bill Himpele: began
• 15:27
  Bill Himpele: to
• 15:27
  Bill Himpele: embed
• 15:28
  Bill Himpele: some
• 15:28
  Bill Himpele: of
• 15:28
  Bill Himpele: our
• 15:28
  Bill Himpele: analytics
• 15:29
  Bill Himpele: into
• 15:29
  Bill Himpele: the
• 15:29
  Bill Himpele: Zephyr
• 15:29
  Bill Himpele: dashboard.
• 15:30
  Bill Himpele: And
• 15:30
  Bill Himpele: that's
• 15:31
  Bill Himpele: an
• 15:31
  Bill Himpele: overall
• 15:31
  Bill Himpele: strategy
• 15:32
  Bill Himpele: that
• 15:32
  Bill Himpele: we
• 15:32
  Bill Himpele: have
• 15:32
  Bill Himpele: is
• 15:32
  Bill Himpele: to
• 15:32
  Bill Himpele: take
• 15:33
  Bill Himpele: April.
• 15:34
  Bill Himpele: Obviously
• 15:34
  Bill Himpele: we
• 15:34
  Bill Himpele: have
• 15:34
  Bill Himpele: our
• 15:34
  Bill Himpele: standalone
• 15:35
  Bill Himpele: April
• 15:35
  Bill Himpele: platform
• 15:36
  Bill Himpele: you
• 15:36
  Bill Himpele: know,
• 15:36
  Bill Himpele: which
• 15:37
  Bill Himpele: is
• 15:37
  Bill Himpele: a,
• 15:37
  Bill Himpele: a
• 15:37
  Bill Himpele: subscription-based,
• 15:38
  Bill Himpele: web-based
• 15:39
  Bill Himpele: platform,
• 15:39
  Bill Himpele: but,
• 15:40
  Bill Himpele: uh,
• 15:40
  Bill Himpele: our
• 15:40
  Bill Himpele: strategy
• 15:41
  Bill Himpele: as
• 15:41
  Bill Himpele: of
• 15:41
  Bill Himpele: late
• 15:42
  Bill Himpele: has
• 15:42
  Bill Himpele: really
• 15:42
  Bill Himpele: been
• 15:42
  Bill Himpele: to
• 15:42
  Bill Himpele: meet
• 15:42
  Bill Himpele: the
• 15:42
  Bill Himpele: users
• 15:43
  Bill Himpele: where
• 15:43
  Bill Himpele: they
• 15:43
  Bill Himpele: are.
• 15:44
  Bill Himpele: Right?
• 15:44
  Bill Himpele: Where
• 15:44
  Bill Himpele: is
• 15:44
  Bill Himpele: the
• 15:44
  Bill Himpele: research
• 15:45
  Bill Himpele: being
• 15:45
  Bill Himpele: done?
• 15:45
  Bill Himpele: It's
• 15:46
  Bill Himpele: being
• 15:46
  Bill Himpele: done
• 15:46
  Bill Himpele: in
• 15:46
  Bill Himpele: Zephyr,
• 15:47
  Bill Himpele: right?
• 15:47
  Bill Himpele: So
• 15:47
  Bill Himpele: let's,
• 15:48
  Bill Himpele: let's
• 15:48
  Bill Himpele: take
• 15:48
  Bill Himpele: our
• 15:48
  Bill Himpele: analytics
• 15:49
  Bill Himpele: and,
• 15:49
  Bill Himpele: um.
• 15:50
  Bill Himpele: And
• 15:50
  Bill Himpele: embed
• 15:51
  Bill Himpele: them
• 15:51
  Bill Himpele: where
• 15:51
  Bill Himpele: the
• 15:52
  Bill Himpele: advisors
• 15:52
  Bill Himpele: and
• 15:52
  Bill Himpele: allocators
• 15:53
  Bill Himpele: are
• 15:53
  Bill Himpele: doing
• 15:53
  Bill Himpele: their,
• 15:54
  Bill Himpele: their
• 15:54
  Bill Himpele: manager
• 15:55
  Bill Himpele: analysis.
• 15:56
  Bill Himpele: And
• 15:56
  Bill Himpele: so
• 15:56
  Bill Himpele: what
• 15:56
  Bill Himpele: we've
• 15:56
  Bill Himpele: done
• 15:56
  Bill Himpele: is
• 15:57
  Bill Himpele: we've
• 15:57
  Bill Himpele: taken
• 15:57
  Bill Himpele: our
• 15:57
  Bill Himpele: skill
• 15:58
  Bill Himpele: metrics
• 15:58
  Bill Himpele: some
• 15:59
  Bill Himpele: of
• 15:59
  Bill Himpele: the
• 15:59
  Bill Himpele: ones
• 15:59
  Bill Himpele: that
• 15:59
  Bill Himpele: Cesar
• 15:59
  Bill Himpele: had
• 16:00
  Bill Himpele: mentioned,
• 16:00
  Bill Himpele: and
• 16:01
  Bill Himpele: uh,
• 16:01
  Bill Himpele: you
• 16:01
  Bill Himpele: can
• 16:01
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• 16:01
  Bill Himpele: into
• 16:01
  Bill Himpele: the
• 16:01
  Bill Himpele: Zephyr
• 16:02
  Bill Himpele: dashboard
• 16:03
  Bill Himpele: now
• 16:03
  Bill Himpele: and
• 16:03
  Bill Himpele: pull
• 16:03
  Bill Himpele: up
• 16:03
  Bill Himpele: a
• 16:03
  Bill Himpele: manager
• 16:04
  Bill Himpele: and
• 16:04
  Bill Himpele: see
• 16:05
  Bill Himpele: what
• 16:05
  Bill Himpele: type
• 16:05
  Bill Himpele: of
• 16:05
  Bill Himpele: skill
• 16:06
  Bill Himpele: ratings
• 16:06
  Bill Himpele: they
• 16:06
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• 16:07
  Bill Himpele: And
• 16:07
  Bill Himpele: it
• 16:07
  Bill Himpele: helps
• 16:07
  Bill Himpele: to
• 16:08
  Bill Himpele: compliment
• 16:08
  Bill Himpele: with
• 16:08
  Bill Himpele: the,
• 16:09
  Bill Himpele: the,
• 16:09
  Bill Himpele: the
• 16:09
  Bill Himpele: research
• 16:10
  Bill Himpele: that's
• 16:10
  Bill Himpele: already
• 16:10
  Bill Himpele: being
• 16:10
  Bill Himpele: done,
• 16:10
  Bill Himpele: the
• 16:11
  Bill Himpele: performance
• 16:11
  Bill Himpele: analytics
• 16:11
  Bill Himpele: that
• 16:12
  Bill Himpele: that
• 16:12
  Bill Himpele: users
• 16:12
  Bill Himpele: are
• 16:12
  Bill Himpele: already
• 16:13
  Bill Himpele: seeing
• 16:13
  Bill Himpele: in
• 16:13
  Bill Himpele: Zephyr.
• 16:14
  Bill Himpele: Now
• 16:14
  Bill Himpele: this
• 16:14
  Bill Himpele: is
• 16:14
  Bill Himpele: sort
• 16:15
  Bill Himpele: of
• 16:15
  Bill Himpele: another
• 16:15
  Bill Himpele: layer
• 16:15
  Bill Himpele: that
• 16:16
  Bill Himpele: they
• 16:16
  Bill Himpele: can
• 16:16
  Bill Himpele: put
• 16:16
  Bill Himpele: on
• 16:16
  Bill Himpele: top
• 16:16
  Bill Himpele: of
• 16:17
  Bill Himpele: that.
• 16:17
  Bill Himpele: Um,
• 16:17
  Bill Himpele: you
• 16:18
  Bill Himpele: know,
• 16:18
  Bill Himpele: and,
• 16:18
  Bill Himpele: and
• 16:18
  Bill Himpele: our
• 16:18
  Bill Himpele: goal
• 16:18
  Bill Himpele: is
• 16:18
  Bill Himpele: not
• 16:19
  Bill Himpele: to
• 16:19
  Bill Himpele: necessarily
• 16:19
  Bill Himpele: replace
• 16:20
  Bill Himpele: tools
• 16:20
  Bill Himpele: out
• 16:20
  Bill Himpele: there,
• 16:21
  Bill Himpele: right?
• 16:21
  Bill Himpele: I
• 16:21
  Bill Himpele: mean,
• 16:21
  Bill Himpele: I.
• 16:22
  Bill Himpele: As
• 16:22
  Bill Himpele: we
• 16:22
  Bill Himpele: all
• 16:22
  Bill Himpele: know,
• 16:23
  Bill Himpele: the,
• 16:23
  Bill Himpele: the
• 16:23
  Bill Himpele: world
• 16:24
  Bill Himpele: of
• 16:24
  Bill Himpele: FinTech
• 16:24
  Bill Himpele: is
• 16:24
  Bill Himpele: very
• 16:25
  Bill Himpele: deep
• 16:25
  Bill Himpele: rooted
• 16:25
  Bill Himpele: and
• 16:25
  Bill Himpele: it's
• 16:25
  Bill Himpele: very
• 16:26
  Bill Himpele: hard
• 16:26
  Bill Himpele: to,
• 16:26
  Bill Himpele: to,
• 16:27
  Bill Himpele: you
• 16:27
  Bill Himpele: know,
• 16:27
  Bill Himpele: it's
• 16:27
  Bill Himpele: very
• 16:27
  Bill Himpele: hard
• 16:27
  Bill Himpele: to
• 16:27
  Bill Himpele: get
• 16:27
  Bill Himpele: into
• 16:28
  Bill Himpele: the
• 16:28
  Bill Himpele: game
• 16:28
  Bill Himpele: of
• 16:28
  Bill Himpele: saying,
• 16:28
  Bill Himpele: Hey,
• 16:29
  Bill Himpele: stop
• 16:29
  Bill Himpele: using
• 16:29
  Bill Himpele: this
• 16:29
  Bill Himpele: product
• 16:30
  Bill Himpele: and
• 16:30
  Bill Himpele: start
• 16:30
  Bill Himpele: using
• 16:30
  Bill Himpele: this
• 16:31
  Bill Himpele: one.
• 16:31
  Bill Himpele: And
• 16:31
  Bill Himpele: so
• 16:31
  Bill Himpele: our
• 16:31
  Bill Himpele: goal
• 16:31
  Bill Himpele: is
• 16:31
  Bill Himpele: to,
• 16:32
  Bill Himpele: like
• 16:32
  Bill Himpele: I
• 16:32
  Bill Himpele: said,
• 16:33
  Bill Himpele: meet
• 16:33
  Bill Himpele: users
• 16:33
  Bill Himpele: where
• 16:33
  Bill Himpele: they
• 16:34
  Bill Himpele: are
• 16:34
  Bill Himpele: embed
• 16:35
  Bill Himpele: our,
• 16:35
  Bill Himpele: our
• 16:35
  Bill Himpele: analysis
• 16:36
  Bill Himpele: and
• 16:36
  Bill Himpele: other
• 16:36
  Bill Himpele: tools
• 16:36
  Bill Himpele: where
• 16:37
  Bill Himpele: they
• 16:37
  Bill Himpele: are,
• 16:37
  Bill Himpele: they're
• 16:37
  Bill Himpele: in
• 16:37
  Bill Himpele: Bloomberg,
• 16:38
  Bill Himpele: they're
• 16:38
  Bill Himpele: using
• 16:38
  Bill Himpele: fin
• 16:38
  Bill Himpele: searches,
• 16:39
  Bill Himpele: they're
• 16:39
  Bill Himpele: obviously
• 16:39
  Bill Himpele: in
• 16:40
  Bill Himpele: Zephyr.
• 16:40
  Bill Himpele: And
• 16:40
  Bill Himpele: so
• 16:40
  Bill Himpele: that's
• 16:40
  Bill Himpele: why
• 16:41
  Bill Himpele: these
• 16:41
  Bill Himpele: partnerships
• 16:41
  Bill Himpele: for
• 16:42
  Bill Himpele: us
• 16:42
  Bill Himpele: make
• 16:42
  Bill Himpele: a
• 16:42
  Bill Himpele: lot
• 16:42
  Bill Himpele: of
• 16:42
  Bill Himpele: sense
• 16:43
  Bill Himpele: to,
• 16:43
  Bill Himpele: uh,
• 16:43
  Bill Himpele: to
• 16:44
  Bill Himpele: help
• 16:44
  Bill Himpele: add
• 16:44
  Bill Himpele: that
• 16:44
  Bill Himpele: layer
• 16:45
  Bill Himpele: on
• 16:45
  Bill Himpele: top
• 16:45
  Bill Himpele: of
• 16:45
  Bill Himpele: just,
• 16:46
  Bill Himpele: you
• 16:46
  Bill Himpele: know,
• 16:46
  Bill Himpele: the
• 16:46
  Bill Himpele: traditional
• 16:46
  Bill Himpele: metrics
• 16:47
  Bill Himpele: as
• 16:47
  Bill Himpele: well.
• 16:47
  Bill Himpele: So
• 16:48
  Bill Himpele: yeah,
• 16:48
  Bill Himpele: we're
• 16:48
  Bill Himpele: really,
• 16:49
  Bill Himpele: really
• 16:49
  Bill Himpele: excited
• 16:49
  Bill Himpele: about
• 16:50
  Bill Himpele: the
• 16:50
  Bill Himpele: partnership
• 16:50
  Bill Himpele: with
• 16:50
  Bill Himpele: Zephyr.
• 16:51
  Bill Himpele: And
• 16:51
  Bill Himpele: we've
• 16:52
  Bill Himpele: had
• 16:52
  Bill Himpele: a
• 16:52
  Bill Himpele: lot
• 16:52
  Bill Himpele: of
• 16:52
  Bill Himpele: interest
• 16:53
  Bill Himpele: and,
• 16:53
  Bill Himpele: and
• 16:53
  Bill Himpele: a
• 16:53
  Bill Himpele: lot
• 16:53
  Bill Himpele: of,
• 16:53
  Bill Himpele: you
• 16:53
  Bill Himpele: know,
• 16:53
  Bill Himpele: users
• 16:54
  Bill Himpele: really,
• 16:54
  Bill Himpele: really
• 16:55
  Bill Himpele: benefiting
• 16:55
  Bill Himpele: from
• 16:55
  Bill Himpele: this
• 16:56
  Bill Himpele: as
• 16:56
  Bill Himpele: well.
• 16:58
  Ryan: Cesar,
• 16:59
  Ryan: did
• 16:59
  Ryan: you
• 16:59
  Ryan: have
• 16:59
  Ryan: anything
• 17:00
  Ryan: to
• 17:00
  Ryan: add
• 17:00
  Ryan: there?
• 17:01
  Cesar Gonzales: Nope.
• 17:02
  Cesar Gonzales: I
• 17:02
  Cesar Gonzales: think
• 17:02
  Cesar Gonzales: he
• 17:03
  Cesar Gonzales: explained
• 17:03
  Cesar Gonzales: it
• 17:03
  Cesar Gonzales: well,
• 17:04
  Cesar Gonzales: and,
• 17:04
  Cesar Gonzales: and,
• 17:04
  Cesar Gonzales: and
• 17:05
  Cesar Gonzales: we.
• 17:06
  Cesar Gonzales: You
• 17:06
  Cesar Gonzales: know,
• 17:06
  Cesar Gonzales: we've
• 17:07
  Cesar Gonzales: worked
• 17:07
  Cesar Gonzales: with
• 17:07
  Cesar Gonzales: a
• 17:07
  Cesar Gonzales: lot
• 17:08
  Cesar Gonzales: of
• 17:08
  Cesar Gonzales: managers
• 17:09
  Cesar Gonzales: and
• 17:09
  Cesar Gonzales: you
• 17:09
  Cesar Gonzales: know,
• 17:09
  Cesar Gonzales: many
• 17:10
  Cesar Gonzales: of
• 17:10
  Cesar Gonzales: them
• 17:10
  Cesar Gonzales: are
• 17:10
  Cesar Gonzales: long-term
• 17:11
  Cesar Gonzales: users
• 17:12
  Cesar Gonzales: of
• 17:12
  Cesar Gonzales: Zephyr.
• 17:12
  Cesar Gonzales: I
• 17:13
  Cesar Gonzales: am
• 17:13
  Cesar Gonzales: one
• 17:13
  Cesar Gonzales: of
• 17:13
  Cesar Gonzales: them
• 17:13
  Cesar Gonzales: too.
• 17:14
  Cesar Gonzales: Early
• 17:14
  Cesar Gonzales: user.
• 17:15
  Cesar Gonzales: It's,
• 17:16
  Cesar Gonzales: it's
• 17:16
  Cesar Gonzales: a
• 17:16
  Cesar Gonzales: good
• 17:16
  Cesar Gonzales: compliment
• 17:17
  Cesar Gonzales: to
• 17:17
  Cesar Gonzales: what
• 17:17
  Cesar Gonzales: you
• 17:17
  Cesar Gonzales: already
• 17:18
  Cesar Gonzales: have
• 17:19
  Cesar Gonzales: clients
• 17:20
  Cesar Gonzales: wants
• 17:20
  Cesar Gonzales: to
• 17:20
  Cesar Gonzales: go
• 17:20
  Cesar Gonzales: deeper
• 17:22
  Cesar Gonzales: and
• 17:22
  Cesar Gonzales: do
• 17:22
  Cesar Gonzales: a
• 17:22
  Cesar Gonzales: more
• 17:23
  Cesar Gonzales: precise
• 17:24
  Cesar Gonzales: due
• 17:24
  Cesar Gonzales: diligence
• 17:25
  Cesar Gonzales: on
• 17:25
  Cesar Gonzales: a
• 17:25
  Cesar Gonzales: product
• 17:26
  Cesar Gonzales: or
• 17:26
  Cesar Gonzales: a
• 17:26
  Cesar Gonzales: manager.
• 17:28
  Ryan: Yeah,
• 17:28
  Ryan: that's
• 17:28
  Ryan: exactly
• 17:29
  Ryan: right.
• 17:29
  Ryan: And
• 17:29
  Ryan: I
• 17:29
  Ryan: was
• 17:30
  Ryan: gonna
• 17:30
  Ryan: bring
• 17:30
  Ryan: that
• 17:30
  Ryan: up.
• 17:31
  Ryan: Caesar,
• 17:31
  Ryan: you,
• 17:32
  Ryan: you
• 17:32
  Ryan: stole
• 17:32
  Ryan: the
• 17:32
  Ryan: words
• 17:33
  Ryan: from
• 17:34
  Ryan: me.
• 17:34
  Ryan: It,
• 17:34
  Ryan: it's
• 17:34
  Ryan: a
• 17:34
  Ryan: great
• 17:35
  Ryan: compliment
• 17:36
  Ryan: and
• 17:37
  Ryan: I
• 17:37
  Ryan: often
• 17:37
  Ryan: tell
• 17:38
  Ryan: people
• 17:38
  Ryan: in
• 17:38
  Ryan: the
• 17:38
  Ryan: research
• 17:39
  Ryan: and
• 17:39
  Ryan: content
• 17:40
  Ryan: that
• 17:41
  Ryan: you
• 17:41
  Ryan: want
• 17:41
  Ryan: a
• 17:41
  Ryan: full
• 17:42
  Ryan: story
• 17:42
  Ryan: of
• 17:43
  Ryan: that
• 17:44
  Ryan: investment
• 17:44
  Ryan: manager,
• 17:45
  Ryan: that
• 17:45
  Ryan: strategy,
• 17:46
  Ryan: that
• 17:46
  Ryan: product,
• 17:47
  Ryan: and.
• 17:48
  Ryan: Yes,
• 17:49
  Ryan: looking
• 17:49
  Ryan: at
• 17:49
  Ryan: the
• 17:49
  Ryan: back
• 17:50
  Ryan: we're,
• 17:50
  Ryan: you
• 17:51
  Ryan: know,
• 17:51
  Ryan: doing
• 17:51
  Ryan: a
• 17:51
  Ryan: back
• 17:51
  Ryan: test,
• 17:52
  Ryan: looking
• 17:52
  Ryan: at
• 17:52
  Ryan: Alpha,
• 17:53
  Ryan: how
• 17:53
  Ryan: it's
• 17:53
  Ryan: performed
• 17:54
  Ryan: during
• 17:54
  Ryan: different
• 17:54
  Ryan: time
• 17:55
  Ryan: periods,
• 17:55
  Ryan: rolling
• 17:56
  Ryan: returns.
• 17:56
  Ryan: Yes.
• 17:57
  Ryan: That
• 17:58
  Ryan: gives
• 17:58
  Ryan: you
• 17:58
  Ryan: a
• 17:58
  Ryan: good,
• 17:59
  Ryan: good
• 17:59
  Ryan: story
• 18:00
  Ryan: around
• 18:01
  Ryan: that
• 18:01
  Ryan: performance
• 18:02
  Ryan: and
• 18:02
  Ryan: you
• 18:02
  Ryan: know,
• 18:03
  Ryan: the
• 18:03
  Ryan: behavior
• 18:04
  Ryan: of
• 18:04
  Ryan: a
• 18:04
  Ryan: manager.
• 18:05
  Ryan: But
• 18:06
  Ryan: now
• 18:06
  Ryan: with
• 18:06
  Ryan: April,
• 18:07
  Ryan: we
• 18:08
  Ryan: are
• 18:08
  Ryan: also
• 18:08
  Ryan: very
• 18:09
  Ryan: excited.
• 18:09
  Ryan: Well,
• 18:10
  Ryan: because
• 18:10
  Ryan: it
• 18:10
  Ryan: just
• 18:10
  Ryan: adds
• 18:11
  Ryan: another
• 18:11
  Ryan: layer
• 18:12
  Ryan: to
• 18:12
  Ryan: that
• 18:12
  Ryan: story.
• 18:14
  Ryan: help
• 18:14
  Ryan: you
• 18:14
  Ryan: understand,
• 18:17
  Ryan: the
• 18:17
  Ryan: performance
• 18:18
  Ryan: and
• 18:18
  Ryan: the
• 18:18
  Ryan: behavior
• 18:18
  Ryan: of
• 18:18
  Ryan: a
• 18:19
  Ryan: manager
• 18:19
  Ryan: and
• 18:19
  Ryan: forward
• 18:20
  Ryan: looking,
• 18:21
  Ryan: because
• 18:21
  Ryan: at
• 18:21
  Ryan: the
• 18:21
  Ryan: end
• 18:22
  Ryan: of
• 18:22
  Ryan: the
• 18:22
  Ryan: day,
• 18:22
  Ryan: guys,
• 18:23
  Ryan: what's
• 18:23
  Ryan: most
• 18:23
  Ryan: important
• 18:24
  Ryan: is
• 18:24
  Ryan: the
• 18:24
  Ryan: fin,
• 18:25
  Ryan: the
• 18:25
  Ryan: end
• 18:25
  Ryan: client,
• 18:26
  Ryan: the
• 18:26
  Ryan: end
• 18:26
  Ryan: investor
• 18:27
  Ryan: meeting,
• 18:28
  Ryan: their
• 18:28
  Ryan: investment
• 18:29
  Ryan: objectives.
• 18:29
  Ryan: And
• 18:30
  Ryan: we
• 18:30
  Ryan: often
• 18:30
  Ryan: say
• 18:31
  Ryan: we
• 18:31
  Ryan: help
• 18:32
  Ryan: investment
• 18:32
  Ryan: professionals
• 18:33
  Ryan: make
• 18:33
  Ryan: more
• 18:34
  Ryan: informed
• 18:34
  Ryan: investment
• 18:35
  Ryan: decisions.
• 18:35
  Ryan: Well,
• 18:35
  Ryan: this
• 18:36
  Ryan: just
• 18:36
  Ryan: helps
• 18:36
  Ryan: them.
• 18:37
  Ryan: Make
• 18:37
  Ryan: more
• 18:37
  Ryan: informed
• 18:38
  Ryan: investment
• 18:38
  Ryan: decisions
• 18:39
  Ryan: and
• 18:39
  Ryan: we're
• 18:40
  Ryan: excited
• 18:40
  Ryan: about
• 18:40
  Ryan: it.
• 18:41
  Ryan: I
• 18:41
  Ryan: know,
• 18:41
  Ryan: I'm
• 18:41
  Ryan: really
• 18:41
  Ryan: excited.
• 18:42
  Ryan: I
• 18:42
  Ryan: use
• 18:42
  Ryan: it
• 18:42
  Ryan: all
• 18:42
  Ryan: the
• 18:43
  Ryan: time
• 18:43
  Ryan: to
• 18:44
  Ryan: just
• 18:44
  Ryan: kind
• 18:44
  Ryan: of
• 18:44
  Ryan: get
• 18:44
  Ryan: a
• 18:45
  Ryan: better
• 18:45
  Ryan: understanding
• 18:46
  Ryan: of,
• 18:47
  Ryan: of
• 18:47
  Ryan: a
• 18:47
  Ryan: manager
• 18:48
  Ryan: moving
• 18:48
  Ryan: forward
• 18:49
  Ryan: in
• 18:49
  Ryan: the
• 18:49
  Ryan: forward
• 18:49
  Ryan: looking
• 18:50
  Ryan: because
• 18:50
  Ryan: we're
• 18:50
  Ryan: always
• 18:50
  Ryan: trying
• 18:50
  Ryan: to
• 18:51
  Ryan: figure
• 18:51
  Ryan: out
• 18:51
  Ryan: that
• 18:51
  Ryan: forward
• 18:52
  Ryan: looking
• 18:52
  Ryan: piece.
• 18:53
  Ryan: So
• 18:54
  Ryan: good
• 18:55
  Ryan: stuff.
• 18:56
  Bill Himpele: and
• 18:56
  Bill Himpele: on
• 18:56
  Bill Himpele: top
• 18:56
  Bill Himpele: of
• 18:56
  Bill Himpele: that,
• 18:56
  Bill Himpele: you
• 18:56
  Bill Himpele: know,
• 18:57
  Bill Himpele: we,
• 18:57
  Bill Himpele: we've
• 18:57
  Bill Himpele: really
• 18:58
  Bill Himpele: been
• 18:58
  Bill Himpele: focusing
• 18:58
  Bill Himpele: a
• 18:59
  Bill Himpele: lot
• 18:59
  Bill Himpele: on
• 18:59
  Bill Himpele: the
• 18:59
  Bill Himpele: allocators
• 19:00
  Bill Himpele: and
• 19:00
  Bill Himpele: doing
• 19:00
  Bill Himpele: the
• 19:00
  Bill Himpele: research
• 19:00
  Bill Himpele: on
• 19:01
  Bill Himpele: managers
• 19:01
  Bill Himpele: for
• 19:01
  Bill Himpele: manager
• 19:02
  Bill Himpele: selection,
• 19:02
  Bill Himpele: but
• 19:02
  Bill Himpele: managers
• 19:03
  Bill Himpele: themselves
• 19:03
  Bill Himpele: are
• 19:03
  Bill Himpele: also
• 19:04
  Bill Himpele: finding
• 19:04
  Bill Himpele: this
• 19:04
  Bill Himpele: to
• 19:04
  Bill Himpele: be
• 19:04
  Bill Himpele: pretty
• 19:04
  Bill Himpele: helpful
• 19:05
  Bill Himpele: as
• 19:05
  Bill Himpele: well.
• 19:06
  Bill Himpele: Um,
• 19:06
  Bill Himpele: whether
• 19:06
  Bill Himpele: it
• 19:06
  Bill Himpele: be
• 19:06
  Bill Himpele: for
• 19:06
  Bill Himpele: a
• 19:07
  Bill Himpele: marketing,
• 19:07
  Bill Himpele: you
• 19:07
  Bill Himpele: know,
• 19:07
  Bill Himpele: as
• 19:07
  Bill Himpele: a
• 19:07
  Bill Himpele: marketing
• 19:08
  Bill Himpele: tool.
• 19:09
  Bill Himpele: But
• 19:09
  Bill Himpele: also
• 19:09
  Bill Himpele: as
• 19:09
  Bill Himpele: a
• 19:09
  Bill Himpele: check
• 19:10
  Bill Himpele: on
• 19:10
  Bill Himpele: themselves
• 19:10
  Bill Himpele: from
• 19:10
  Bill Himpele: a
• 19:10
  Bill Himpele: style
• 19:11
  Bill Himpele: perspective
• 19:11
  Bill Himpele: to
• 19:11
  Bill Himpele: see
• 19:12
  Bill Himpele: are
• 19:12
  Bill Himpele: they
• 19:12
  Bill Himpele: doing
• 19:12
  Bill Himpele: what
• 19:12
  Bill Himpele: they're,
• 19:13
  Bill Himpele: what
• 19:13
  Bill Himpele: they
• 19:13
  Bill Himpele: say
• 19:13
  Bill Himpele: that
• 19:13
  Bill Himpele: they're
• 19:14
  Bill Himpele: doing,
• 19:14
  Bill Himpele: and
• 19:14
  Bill Himpele: how
• 19:14
  Bill Himpele: do
• 19:14
  Bill Himpele: they
• 19:14
  Bill Himpele: compare
• 19:15
  Bill Himpele: versus
• 19:15
  Bill Himpele: their
• 19:15
  Bill Himpele: peers.
• 19:17
  Ryan: Yeah.
• 19:17
  Ryan: I
• 19:17
  Ryan: think
• 19:18
  Ryan: that's
• 19:18
  Ryan: very
• 19:18
  Ryan: important
• 19:19
  Ryan: is
• 19:19
  Ryan: you
• 19:19
  Ryan: said
• 19:20
  Ryan: it
• 19:20
  Ryan: Bill,
• 19:20
  Ryan: are
• 19:21
  Ryan: they
• 19:21
  Ryan: doing
• 19:21
  Ryan: what
• 19:21
  Ryan: they're
• 19:21
  Ryan: supposed
• 19:22
  Ryan: to
• 19:22
  Ryan: be
• 19:22
  Ryan: doing?
• 19:22
  Ryan: They've
• 19:23
  Ryan: got
• 19:23
  Bill Himpele: Exactly.
• 19:24
  Ryan: out
• 19:24
  Ryan: there.
• 19:24
  Ryan: The
• 19:25
  Ryan: investment
• 19:25
  Ryan: objectives,
• 19:26
  Ryan: are
• 19:26
  Ryan: they
• 19:26
  Ryan: really
• 19:27
  Ryan: following
• 19:27
  Ryan: that
• 19:27
  Ryan: investment
• 19:28
  Ryan: objective
• 19:29
  Ryan: or
• 19:30
  Ryan: is
• 19:30
  Ryan: that
• 19:30
  Ryan: behavior.
• 19:32
  Ryan: More
• 19:32
  Ryan: like
• 19:33
  Ryan: a
• 19:33
  Ryan: growth
• 19:33
  Ryan: fund
• 19:33
  Ryan: instead
• 19:34
  Ryan: of
• 19:34
  Ryan: a
• 19:34
  Ryan: value
• 19:34
  Ryan: fund.
• 19:35
  Bill Himpele: Right.
• 19:35
  Ryan: Very
• 19:36
  Ryan: important.
• 19:38
  Cesar Gonzales: it
• 19:38
  Cesar Gonzales: really
• 19:38
  Cesar Gonzales: allows
• 19:38
  Cesar Gonzales: for
• 19:39
  Cesar Gonzales: a
• 19:39
  Cesar Gonzales: more
• 19:39
  Cesar Gonzales: transparent
• 19:40
  Cesar Gonzales: and
• 19:41
  Cesar Gonzales: more
• 19:41
  Cesar Gonzales: credible
• 19:41
  Cesar Gonzales: conversation
• 19:42
  Cesar Gonzales: on
• 19:43
  Cesar Gonzales: both
• 19:43
  Cesar Gonzales: sides
• 19:44
  Cesar Gonzales: and
• 19:44
  Cesar Gonzales: in,
• 19:44
  Cesar Gonzales: in
• 19:45
  Cesar Gonzales: our
• 19:45
  Cesar Gonzales: own
• 19:45
  Cesar Gonzales: personal
• 19:45
  Cesar Gonzales: experience.
• 19:46
  Cesar Gonzales: It
• 19:46
  Cesar Gonzales: reduces
• 19:47
  Cesar Gonzales: the
• 19:47
  Cesar Gonzales: amount
• 19:47
  Cesar Gonzales: of
• 19:47
  Cesar Gonzales: time
• 19:48
  Cesar Gonzales: you
• 19:48
  Cesar Gonzales: have
• 19:48
  Cesar Gonzales: to
• 19:50
  Cesar Gonzales: to
• 19:50
  Cesar Gonzales: a
• 19:50
  Cesar Gonzales: client
• 19:51
  Cesar Gonzales: what
• 19:51
  Cesar Gonzales: happened
• 19:52
  Cesar Gonzales: to
• 19:52
  Cesar Gonzales: your
• 19:52
  Cesar Gonzales: performance.
• 19:53
  Cesar Gonzales: So
• 19:54
  Cesar Gonzales: that's
• 19:54
  Cesar Gonzales: where
• 19:55
  Cesar Gonzales: April
• 19:56
  Cesar Gonzales: is
• 19:56
  Cesar Gonzales: helpful,
• 19:57
  Cesar Gonzales: whereas,
• 19:58
  Cesar Gonzales: you
• 19:58
  Cesar Gonzales: know,
• 19:59
  Cesar Gonzales: the
• 19:59
  Cesar Gonzales: traditional
• 20:00
  Cesar Gonzales: measure
• 20:01
  Cesar Gonzales: to
• 20:01
  Cesar Gonzales: say
• 20:01
  Cesar Gonzales: what
• 20:01
  Cesar Gonzales: happened
• 20:02
  Cesar Gonzales: here,
• 20:03
  Cesar Gonzales: you're
• 20:03
  Cesar Gonzales: actually
• 20:04
  Cesar Gonzales: guiding
• 20:04
  Cesar Gonzales: them
• 20:05
  Cesar Gonzales: on
• 20:05
  Cesar Gonzales: how
• 20:06
  Cesar Gonzales: to
• 20:07
  Cesar Gonzales: evaluate
• 20:08
  Cesar Gonzales: and
• 20:08
  Cesar Gonzales: how
• 20:08
  Cesar Gonzales: to
• 20:09
  Cesar Gonzales: set
• 20:09
  Cesar Gonzales: up
• 20:09
  Cesar Gonzales: expectations,
• 20:10
  Cesar Gonzales: you
• 20:11
  Cesar Gonzales: know,
• 20:11
  Cesar Gonzales: using
• 20:11
  Cesar Gonzales: the
• 20:11
  Cesar Gonzales: April
• 20:12
  Cesar Gonzales: insights.
• 20:13
  Ryan: Yeah,
• 20:14
  Ryan: expectations
• 20:15
  Ryan: are
• 20:15
  Ryan: very
• 20:15
  Ryan: important
• 20:16
  Ryan: right
• 20:16
  Ryan: now.
• 20:17
  Ryan: So,
• 20:18
  Ryan: and
• 20:18
  Ryan: you
• 20:18
  Ryan: talked
• 20:18
  Ryan: about
• 20:19
  Ryan: transparency.
• 20:19
  Ryan: We're
• 20:19
  Ryan: gonna
• 20:20
  Ryan: talk
• 20:20
  Ryan: about
• 20:20
  Ryan: transparency
• 20:21
  Ryan: shortly,
• 20:22
  Ryan: Cesar,
• 20:22
  Ryan: but
• 20:23
  Ryan: real
• 20:23
  Ryan: quickly,
• 20:23
  Ryan: let's
• 20:23
  Ryan: go
• 20:23
  Ryan: back
• 20:24
  Ryan: to
• 20:24
  Ryan: the
• 20:24
  Ryan: allocators
• 20:25
  Ryan: and
• 20:25
  Ryan: managers.
• 20:26
  Ryan: How
• 20:26
  Ryan: does
• 20:26
  Ryan: this
• 20:26
  Ryan: partnership
• 20:28
  Ryan: with
• 20:28
  Ryan: Zephyr
• 20:30
  Ryan: and
• 20:30
  Ryan: April
• 20:30
  Ryan: help
• 20:31
  Ryan: allocators
• 20:31
  Ryan: and
• 20:31
  Ryan: managers?
• 20:32
  Ryan: You
• 20:32
  Ryan: guys
• 20:32
  Ryan: kind
• 20:32
  Ryan: of
• 20:33
  Ryan: touched
• 20:33
  Ryan: on
• 20:33
  Ryan: it,
• 20:34
  Ryan: let's
• 20:34
  Ryan: go
• 20:34
  Ryan: a
• 20:34
  Ryan: little
• 20:34
  Ryan: bit
• 20:35
  Ryan: deeper
• 20:35
  Ryan: and,
• 20:35
  Ryan: you
• 20:35
  Ryan: know,
• 20:36
  Ryan: how
• 20:36
  Ryan: does
• 20:36
  Ryan: it,
• 20:36
  Ryan: how
• 20:37
  Ryan: does
• 20:37
  Ryan: it
• 20:37
  Ryan: help
• 20:37
  Ryan: them?
• 20:39
  Cesar Gonzales: So
• 20:39
  Cesar Gonzales: for
• 20:40
  Cesar Gonzales: allocators,
• 20:41
  Cesar Gonzales: it
• 20:41
  Cesar Gonzales: really
• 20:41
  Cesar Gonzales: makes
• 20:41
  Cesar Gonzales: their
• 20:41
  Cesar Gonzales: D
• 20:41
  Cesar Gonzales: diligence
• 20:42
  Cesar Gonzales: more
• 20:42
  Cesar Gonzales: precise
• 20:43
  Cesar Gonzales: and
• 20:43
  Cesar Gonzales: more
• 20:44
  Cesar Gonzales: efficient.
• 20:45
  Cesar Gonzales: can
• 20:45
  Cesar Gonzales: quickly
• 20:46
  Cesar Gonzales: identify
• 20:46
  Cesar Gonzales: which
• 20:47
  Cesar Gonzales: managers
• 20:47
  Cesar Gonzales: are
• 20:48
  Cesar Gonzales: benefiting
• 20:48
  Cesar Gonzales: from
• 20:50
  Cesar Gonzales: pure
• 20:50
  Cesar Gonzales: exposure
• 20:51
  Cesar Gonzales: versus
• 20:51
  Cesar Gonzales: really
• 20:51
  Cesar Gonzales: demonstrating
• 20:52
  Cesar Gonzales: real
• 20:52
  Cesar Gonzales: skills.
• 20:53
  Cesar Gonzales: And
• 20:54
  Cesar Gonzales: then
• 20:54
  Cesar Gonzales: for
• 20:54
  Cesar Gonzales: the
• 20:54
  Cesar Gonzales: managers,
• 20:55
  Cesar Gonzales: it
• 20:55
  Cesar Gonzales: helps
• 20:56
  Cesar Gonzales: them
• 20:56
  Cesar Gonzales: change
• 20:56
  Cesar Gonzales: the
• 20:56
  Cesar Gonzales: communication
• 20:57
  Cesar Gonzales: of
• 20:57
  Cesar Gonzales: their
• 20:58
  Cesar Gonzales: performance
• 20:59
  Cesar Gonzales: in
• 20:59
  Cesar Gonzales: instead
• 21:00
  Cesar Gonzales: of,
• 21:00
  Cesar Gonzales: you
• 21:00
  Cesar Gonzales: know,
• 21:00
  Cesar Gonzales: relying
• 21:01
  Cesar Gonzales: on
• 21:01
  Cesar Gonzales: relative
• 21:01
  Cesar Gonzales: performance,
• 21:03
  Cesar Gonzales: they
• 21:03
  Cesar Gonzales: can
• 21:03
  Cesar Gonzales: now
• 21:03
  Cesar Gonzales: exactly
• 21:04
  Cesar Gonzales: say.
• 21:05
  Cesar Gonzales: Where
• 21:05
  Cesar Gonzales: their
• 21:05
  Cesar Gonzales: value
• 21:06
  Cesar Gonzales: is
• 21:06
  Cesar Gonzales: coming
• 21:06
  Cesar Gonzales: from
• 21:06
  Cesar Gonzales: or
• 21:07
  Cesar Gonzales: not
• 21:07
  Cesar Gonzales: coming
• 21:07
  Cesar Gonzales: from.
• 21:08
  Cesar Gonzales: And
• 21:08
  Cesar Gonzales: then
• 21:08
  Cesar Gonzales: whether
• 21:09
  Cesar Gonzales: it's
• 21:09
  Cesar Gonzales: stock
• 21:09
  Cesar Gonzales: selection,
• 21:10
  Cesar Gonzales: timing,
• 21:10
  Cesar Gonzales: or
• 21:11
  Cesar Gonzales: consistency
• 21:12
  Cesar Gonzales: it
• 21:13
  Cesar Gonzales: provides
• 21:13
  Cesar Gonzales: a
• 21:14
  Cesar Gonzales: more
• 21:14
  Cesar Gonzales: refined
• 21:15
  Cesar Gonzales: answer
• 21:16
  Cesar Gonzales: to
• 21:17
  Cesar Gonzales: what
• 21:17
  Cesar Gonzales: happened
• 21:18
  Cesar Gonzales: and
• 21:18
  Cesar Gonzales: what
• 21:19
  Cesar Gonzales: the
• 21:19
  Cesar Gonzales: client
• 21:20
  Cesar Gonzales: should
• 21:20
  Cesar Gonzales: expect
• 21:21
  Cesar Gonzales: from
• 21:21
  Cesar Gonzales: this
• 21:21
  Cesar Gonzales: particular
• 21:22
  Cesar Gonzales: manager.
• 21:22
  Cesar Gonzales: And
• 21:23
  Cesar Gonzales: as
• 21:23
  Cesar Gonzales: I
• 21:23
  Cesar Gonzales: said
• 21:23
  Cesar Gonzales: earlier,
• 21:24
  Cesar Gonzales: it
• 21:24
  Cesar Gonzales: allows
• 21:24
  Cesar Gonzales: for
• 21:25
  Cesar Gonzales: that
• 21:25
  Cesar Gonzales: transparency
• 21:26
  Cesar Gonzales: and
• 21:26
  Cesar Gonzales: then
• 21:27
  Cesar Gonzales: it
• 21:27
  Cesar Gonzales: gives
• 21:27
  Cesar Gonzales: the
• 21:27
  Cesar Gonzales: manager
• 21:28
  Cesar Gonzales: credibility
• 21:28
  Cesar Gonzales: instead
• 21:29
  Cesar Gonzales: of
• 21:29
  Cesar Gonzales: being
• 21:30
  Cesar Gonzales: viewed
• 21:30
  Cesar Gonzales: as.
• 21:31
  Cesar Gonzales: You
• 21:31
  Cesar Gonzales: know,
• 21:31
  Cesar Gonzales: you're
• 21:31
  Cesar Gonzales: making
• 21:31
  Cesar Gonzales: excuse
• 21:32
  Cesar Gonzales: again
• 21:33
  Cesar Gonzales: because
• 21:33
  Cesar Gonzales: you're
• 21:33
  Cesar Gonzales: a
• 21:33
  Cesar Gonzales: value
• 21:34
  Cesar Gonzales: manager
• 21:34
  Cesar Gonzales: and
• 21:34
  Cesar Gonzales: it's
• 21:34
  Cesar Gonzales: a
• 21:35
  Cesar Gonzales: growth
• 21:35
  Cesar Gonzales: market.
• 21:35
  Cesar Gonzales: That's
• 21:35
  Cesar Gonzales: why
• 21:36
  Cesar Gonzales: you
• 21:36
  Cesar Gonzales: underperform.
• 21:37
  Cesar Gonzales: The
• 21:37
  Cesar Gonzales: insight
• 21:38
  Cesar Gonzales: from
• 21:38
  Cesar Gonzales: April
• 21:38
  Cesar Gonzales: allows
• 21:39
  Cesar Gonzales: you
• 21:40
  Cesar Gonzales: to
• 21:40
  Cesar Gonzales: communicate
• 21:41
  Cesar Gonzales: what
• 21:41
  Cesar Gonzales: really
• 21:42
  Cesar Gonzales: is
• 21:42
  Cesar Gonzales: happening
• 21:43
  Cesar Gonzales: with
• 21:43
  Cesar Gonzales: your
• 21:43
  Cesar Gonzales: portfolio,
• 21:44
  Cesar Gonzales: and
• 21:44
  Cesar Gonzales: at
• 21:44
  Cesar Gonzales: the
• 21:44
  Cesar Gonzales: same
• 21:45
  Cesar Gonzales: time,
• 21:45
  Cesar Gonzales: what's
• 21:45
  Cesar Gonzales: happening
• 21:46
  Cesar Gonzales: in
• 21:46
  Cesar Gonzales: your
• 21:46
  Cesar Gonzales: peer
• 21:46
  Cesar Gonzales: group,
• 21:47
  Cesar Gonzales: because
• 21:47
  Cesar Gonzales: it
• 21:47
  Cesar Gonzales: could
• 21:47
  Cesar Gonzales: be
• 21:47
  Cesar Gonzales: the
• 21:48
  Cesar Gonzales: entire
• 21:48
  Cesar Gonzales: peer
• 21:48
  Cesar Gonzales: group
• 21:48
  Cesar Gonzales: is
• 21:49
  Cesar Gonzales: having
• 21:49
  Cesar Gonzales: a,
• 21:49
  Cesar Gonzales: a
• 21:49
  Cesar Gonzales: challenging
• 21:50
  Cesar Gonzales: market.
• 21:51
  Cesar Gonzales: Like
• 21:51
  Cesar Gonzales: what
• 21:51
  Cesar Gonzales: happened
• 21:52
  Cesar Gonzales: last
• 21:52
  Cesar Gonzales: year.
• 21:53
  Cesar Gonzales: Quality
• 21:54
  Cesar Gonzales: growth
• 21:54
  Cesar Gonzales: managers.
• 21:55
  Cesar Gonzales: So
• 21:56
  Cesar Gonzales: that
• 21:57
  Cesar Gonzales: insight
• 21:57
  Cesar Gonzales: allows
• 21:58
  Cesar Gonzales: allocators
• 21:59
  Cesar Gonzales: not
• 21:59
  Cesar Gonzales: to
• 21:59
  Cesar Gonzales: make
• 22:00
  Cesar Gonzales: a
• 22:00
  Cesar Gonzales: knee-jerk
• 22:00
  Cesar Gonzales: reaction
• 22:01
  Cesar Gonzales: of
• 22:01
  Cesar Gonzales: terminating
• 22:02
  Cesar Gonzales: that
• 22:02
  Cesar Gonzales: manager,
• 22:03
  Cesar Gonzales: but
• 22:03
  Cesar Gonzales: then
• 22:04
  Cesar Gonzales: pause
• 22:04
  Cesar Gonzales: and,
• 22:05
  Cesar Gonzales: and
• 22:05
  Cesar Gonzales: understand
• 22:06
  Cesar Gonzales: is
• 22:06
  Cesar Gonzales: there
• 22:06
  Cesar Gonzales: something
• 22:07
  Cesar Gonzales: changing
• 22:07
  Cesar Gonzales: within
• 22:08
  Cesar Gonzales: the
• 22:08
  Cesar Gonzales: environment,
• 22:09
  Cesar Gonzales: the
• 22:09
  Cesar Gonzales: market
• 22:09
  Cesar Gonzales: environment,
• 22:10
  Cesar Gonzales: that
• 22:11
  Cesar Gonzales: just
• 22:12
  Cesar Gonzales: be
• 22:12
  Cesar Gonzales: pulling
• 22:12
  Cesar Gonzales: the
• 22:12
  Cesar Gonzales: trigger
• 22:13
  Cesar Gonzales: and
• 22:13
  Cesar Gonzales: terminate
• 22:14
  Cesar Gonzales: a
• 22:14
  Cesar Gonzales: manager
• 22:15
  Cesar Gonzales: without
• 22:15
  Cesar Gonzales: doing
• 22:16
  Cesar Gonzales: additional
• 22:16
  Cesar Gonzales: research.
• 22:18
  Ryan: Yeah,
• 22:19
  Ryan: and,
• 22:19
  Ryan: and
• 22:19
  Ryan: it
• 22:20
  Ryan: goes
• 22:20
  Ryan: back
• 22:20
  Ryan: to,
• 22:20
  Ryan: you
• 22:20
  Ryan: know
• 22:21
  Ryan: what
• 22:21
  Ryan: Bill
• 22:21
  Ryan: was
• 22:21
  Ryan: saying,
• 22:22
  Ryan: the
• 22:22
  Ryan: universe
• 22:23
  Ryan: as
• 22:23
  Ryan: the
• 22:23
  Ryan: peer
• 22:23
  Ryan: groups.
• 22:24
  Ryan: How
• 22:25
  Ryan: important
• 22:25
  Ryan: that
• 22:25
  Ryan: is
• 22:25
  Ryan: because
• 22:26
  Ryan: you
• 22:26
  Ryan: don't
• 22:26
  Ryan: want
• 22:26
  Ryan: it
• 22:27
  Ryan: a,
• 22:28
  Ryan: you
• 22:28
  Ryan: know,
• 22:28
  Ryan: apples
• 22:29
  Ryan: to
• 22:30
  Bill Himpele: Right.
• 22:31
  Ryan: comparison,
• 22:32
  Ryan: right?
• 22:32
  Ryan: You
• 22:32
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• 22:32
  Ryan: make
• 22:32
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• 22:33
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• 22:33
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• 22:33
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• 22:33
  Ryan: same
• 22:34
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• 22:34
  Ryan: to
• 22:34
  Ryan: like
• 22:35
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• 22:36
  Ryan: otherwise
• 22:37
  Ryan: your
• 22:37
  Ryan: analysis
• 22:37
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• 22:38
  Ryan: get
• 22:38
  Ryan: all
• 22:38
  Ryan: thrown
• 22:39
  Ryan: outta
• 22:39
  Ryan: whack.
• 22:40
  Ryan: Bill,
• 22:42
  Ryan: you
• 22:42
  Ryan: know,
• 22:43
  Ryan: a
• 22:43
  Ryan: lot
• 22:43
  Ryan: of
• 22:43
  Ryan: times,
• 22:44
  Ryan: and
• 22:44
  Ryan: it's
• 22:44
  Ryan: evolved
• 22:45
  Ryan: now,
• 22:45
  Ryan: changed
• 22:45
  Ryan: a
• 22:45
  Ryan: little
• 22:45
  Ryan: bit,
• 22:46
  Ryan: but.
• 22:47
  Ryan: When
• 22:47
  Ryan: people
• 22:47
  Ryan: think
• 22:48
  Ryan: of,
• 22:49
  Ryan: you
• 22:49
  Ryan: know,
• 22:49
  Ryan: investment
• 22:50
  Ryan: performance
• 22:50
  Ryan: and
• 22:51
  Ryan: managers,
• 22:52
  Ryan: we
• 22:52
  Ryan: often,
• 22:52
  Ryan: we
• 22:53
  Ryan: use
• 22:53
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• 22:54
  Ryan: here
• 22:54
  Ryan: at
• 22:54
  Ryan: Zephyr,
• 22:55
  Ryan: kind
• 22:55
  Ryan: of
• 22:55
  Ryan: as
• 22:55
  Ryan: a
• 22:55
  Ryan: generic
• 22:56
  Ryan: term.
• 22:56
  Ryan: It
• 22:56
  Ryan: covers
• 22:57
  Bill Himpele: Yeah.
• 22:57
  Ryan: ETFs,
• 22:58
  Ryan: hedge
• 22:58
  Ryan: funds,
• 22:59
  Ryan: any
• 22:59
  Ryan: type
• 23:00
  Ryan: of
• 23:00
  Ryan: manager.
• 23:00
  Ryan: A
• 23:01
  Ryan: lot
• 23:01
  Ryan: of
• 23:01
  Ryan: times
• 23:02
  Ryan: we
• 23:02
  Ryan: just
• 23:02
  Ryan: think
• 23:02
  Ryan: of
• 23:03
  Ryan: mutual
• 23:03
  Ryan: funds.
• 23:04
  Ryan: But
• 23:04
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• 23:04
  Ryan: April
• 23:05
  Ryan: also
• 23:06
  Ryan: cover
• 23:06
  Ryan: SMA
• 23:07
  Ryan: managers?
• 23:08
  Ryan: You
• 23:08
  Ryan: know,
• 23:08
  Ryan: Zeffer
• 23:08
  Ryan: has
• 23:09
  Ryan: a
• 23:09
  Ryan: PSN
• 23:09
  Ryan: separately
• 23:10
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• 23:10
  Ryan: account
• 23:11
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• 23:11
  Ryan: which
• 23:12
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• 23:12
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• 23:12
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• 23:13
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• 23:13
  Ryan: years
• 23:13
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• 23:13
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• 23:14
  Ryan: And
• 23:15
  Ryan: one
• 23:15
  Ryan: of
• 23:15
  Ryan: the
• 23:15
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• 23:15
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• 23:16
  Ryan: SMA
• 23:16
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• 23:17
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• 23:17
  Ryan: the
• 23:17
  Ryan: industry
• 23:18
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• 23:18
  Ryan: terms
• 23:18
  Ryan: of
• 23:19
  Ryan: data,
• 23:20
  Ryan: quality
• 23:20
  Ryan: of
• 23:20
  Ryan: data.
• 23:21
  Ryan: Does
• 23:21
  Ryan: April
• 23:22
  Ryan: analysis
• 23:22
  Ryan: cover
• 23:23
  Ryan: SMA
• 23:23
  Ryan: managers
• 23:24
  Ryan: too?
• 23:25
  Bill Himpele: Absolutely.
• 23:26
  Bill Himpele: And
• 23:26
  Bill Himpele: that's,
• 23:26
  Bill Himpele: that's
• 23:27
  Bill Himpele: probably
• 23:27
  Bill Himpele: one
• 23:27
  Bill Himpele: of
• 23:27
  Bill Himpele: the
• 23:27
  Bill Himpele: strengths
• 23:28
  Bill Himpele: of,
• 23:28
  Bill Himpele: of
• 23:28
  Bill Himpele: the
• 23:28
  Bill Himpele: partnership
• 23:29
  Bill Himpele: of
• 23:29
  Bill Himpele: this
• 23:29
  Bill Himpele: integration
• 23:30
  Bill Himpele: is
• 23:30
  Bill Himpele: that
• 23:30
  Bill Himpele: we're
• 23:30
  Bill Himpele: actually
• 23:31
  Bill Himpele: using
• 23:31
  Bill Himpele: the
• 23:31
  Bill Himpele: PSN
• 23:32
  Bill Himpele: database
• 23:33
  Bill Himpele: for
• 23:33
  Bill Himpele: our
• 23:33
  Bill Himpele: separately
• 23:33
  Bill Himpele: managed
• 23:34
  Bill Himpele: account
• 23:34
  Bill Himpele: in,
• 23:34
  Bill Himpele: for,
• 23:35
  Bill Himpele: you
• 23:35
  Bill Himpele: know,
• 23:35
  Bill Himpele: we,
• 23:35
  Bill Himpele: and
• 23:35
  Bill Himpele: we've
• 23:35
  Bill Himpele: had
• 23:35
  Bill Himpele: that
• 23:35
  Bill Himpele: partnership.
• 23:36
  Bill Himpele: Um.
• 23:37
  Bill Himpele: As
• 23:37
  Bill Himpele: a,
• 23:38
  Bill Himpele: as
• 23:38
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• 23:38
  Bill Himpele: data
• 23:38
  Bill Himpele: provider,
• 23:39
  Bill Himpele: probably
• 23:39
  Bill Himpele: for
• 23:39
  Bill Himpele: about
• 23:39
  Bill Himpele: eight,
• 23:39
  Bill Himpele: eight
• 23:40
  Bill Himpele: or
• 23:40
  Bill Himpele: nine
• 23:40
  Bill Himpele: years
• 23:40
  Bill Himpele: now.
• 23:41
  Bill Himpele: Um,
• 23:41
  Bill Himpele: and
• 23:41
  Bill Himpele: so
• 23:41
  Bill Himpele: that,
• 23:42
  Bill Himpele: as
• 23:42
  Bill Himpele: I
• 23:42
  Bill Himpele: said,
• 23:42
  Bill Himpele: that
• 23:42
  Bill Himpele: is,
• 23:42
  Bill Himpele: that
• 23:43
  Bill Himpele: is
• 23:43
  Bill Himpele: one
• 23:43
  Bill Himpele: of
• 23:43
  Bill Himpele: the
• 23:43
  Bill Himpele: great
• 23:43
  Bill Himpele: parts
• 23:44
  Bill Himpele: about
• 23:44
  Bill Himpele: this
• 23:44
  Bill Himpele: relationship
• 23:45
  Bill Himpele: is
• 23:45
  Bill Himpele: that
• 23:45
  Bill Himpele: we're
• 23:45
  Bill Himpele: layering
• 23:46
  Bill Himpele: our
• 23:47
  Bill Himpele: our
• 23:47
  Bill Himpele: analytics
• 23:47
  Bill Himpele: right
• 23:48
  Bill Himpele: on
• 23:48
  Bill Himpele: top
• 23:48
  Bill Himpele: of
• 23:48
  Bill Himpele: the
• 23:48
  Bill Himpele: SMA
• 23:49
  Bill Himpele: database
• 23:49
  Bill Himpele: that
• 23:49
  Bill Himpele: already
• 23:49
  Bill Himpele: exists
• 23:50
  Bill Himpele: within
• 23:50
  Bill Himpele: Zephyr.
• 23:51
  Bill Himpele: So
• 23:52
  Bill Himpele: in
• 23:52
  Bill Himpele: addition
• 23:53
  Bill Himpele: to
• 23:53
  Bill Himpele: the
• 23:53
  Bill Himpele: ETFs
• 23:54
  Bill Himpele: and
• 23:54
  Bill Himpele: Mutual.
• 23:55
  Ryan: Yeah,
• 23:56
  Ryan: and
• 23:57
  Ryan: you
• 23:57
  Ryan: know,
• 23:58
  Ryan: like
• 23:58
  Ryan: I
• 23:58
  Ryan: said,
• 23:58
  Ryan: separately
• 23:59
  Ryan: managed
• 23:59
  Ryan: accounts.
• 23:59
  Ryan: What's
• 23:59
  Ryan: great
• 24:00
  Ryan: about
• 24:00
  Ryan: 'em,
• 24:00
  Ryan: we're
• 24:00
  Ryan: gonna
• 24:00
  Ryan: talk
• 24:01
  Ryan: about
• 24:01
  Ryan: Cesar.
• 24:02
  Ryan: I'm
• 24:02
  Ryan: gonna
• 24:02
  Ryan: ask
• 24:02
  Ryan: about
• 24:03
  Ryan: transparency.
• 24:03
  Ryan: Brought
• 24:04
  Ryan: it
• 24:04
  Ryan: up
• 24:04
  Ryan: a
• 24:04
  Ryan: few
• 24:04
  Ryan: times,
• 24:05
  Ryan: but
• 24:05
  Ryan: the
• 24:05
  Ryan: industry
• 24:06
  Ryan: now,
• 24:07
  Ryan: especially
• 24:08
  Ryan: younger
• 24:08
  Ryan: generation
• 24:09
  Ryan: of
• 24:09
  Ryan: investors,
• 24:10
  Ryan: they
• 24:10
  Ryan: want
• 24:10
  Ryan: transparency
• 24:11
  Ryan: in
• 24:11
  Ryan: their
• 24:12
  Ryan: investments.
• 24:12
  Ryan: They
• 24:12
  Ryan: want
• 24:12
  Ryan: to
• 24:13
  Ryan: know
• 24:13
  Ryan: exactly
• 24:13
  Ryan: what
• 24:13
  Ryan: they're
• 24:14
  Ryan: holding.
• 24:14
  Ryan: Mutual
• 24:15
  Ryan: funds
• 24:15
  Ryan: are
• 24:15
  Ryan: hard.
• 24:16
  Ryan: ETFs
• 24:16
  Ryan: are
• 24:17
  Ryan: making
• 24:17
  Ryan: it
• 24:17
  Ryan: easier
• 24:18
  Ryan: and
• 24:18
  Ryan: are
• 24:18
  Ryan: more
• 24:18
  Ryan: transparent,
• 24:19
  Ryan: but
• 24:20
  Ryan: really
• 24:20
  Ryan: nothing
• 24:21
  Ryan: more
• 24:21
  Ryan: transparent
• 24:22
  Ryan: than
• 24:22
  Ryan: A
• 24:22
  Ryan: SMA.
• 24:23
  Ryan: You
• 24:23
  Ryan: know,
• 24:24
  Ryan: you're
• 24:24
  Ryan: holding
• 24:25
  Ryan: each
• 24:25
  Ryan: individual
• 24:26
  Ryan: name.
• 24:26
  Ryan: So
• 24:26
  Ryan: we're
• 24:26
  Ryan: seeing
• 24:27
  Ryan: a
• 24:27
  Ryan: lot
• 24:27
  Ryan: of
• 24:27
  Ryan: popularity
• 24:28
  Ryan: or
• 24:28
  Ryan: growth
• 24:29
  Ryan: in
• 24:30
  Ryan: because
• 24:31
  Ryan: of
• 24:31
  Ryan: the
• 24:31
  Ryan: transparency
• 24:32
  Ryan: that
• 24:32
  Ryan: it
• 24:32
  Ryan: offers.
• 24:33
  Ryan: It's
• 24:33
  Ryan: one
• 24:34
  Ryan: things
• 24:34
  Ryan: that
• 24:34
  Ryan: we're
• 24:34
  Ryan: talking
• 24:35
  Ryan: about
• 24:35
  Ryan: with
• 24:35
  Ryan: returns
• 24:36
  Ryan: based
• 24:36
  Ryan: style
• 24:36
  Ryan: analysis
• 24:37
  Ryan: is
• 24:38
  Ryan: maybe
• 24:38
  Ryan: you
• 24:38
  Ryan: don't
• 24:39
  Ryan: need
• 24:39
  Ryan: the
• 24:39
  Ryan: transparency,
• 24:40
  Ryan: but
• 24:40
  Ryan: you
• 24:40
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• 24:40
  Ryan: the
• 24:40
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• 24:41
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• 24:41
  Ryan: holdings.
• 24:42
  Ryan: The
• 24:42
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• 24:43
  Ryan: returns
• 24:44
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• 24:44
  Ryan: that
• 24:45
  Ryan: analysis
• 24:46
  Ryan: much
• 24:46
  Ryan: more
• 24:46
  Ryan: comprehensive.
• 24:47
  Ryan: So.
• 24:48
  Ryan: Cesar,
• 24:49
  Ryan: the
• 24:49
  Ryan: increased
• 24:50
  Ryan: transparency
• 24:50
  Ryan: investment
• 24:51
  Ryan: management
• 24:52
  Ryan: in
• 24:52
  Ryan: the
• 24:52
  Ryan: evidence-based
• 24:53
  Ryan: evaluation
• 24:54
  Ryan: of
• 24:54
  Ryan: active
• 24:55
  Ryan: management.
• 24:55
  Ryan: How
• 24:56
  Ryan: is
• 24:56
  Ryan: April
• 24:57
  Ryan: addressing
• 24:58
  Ryan: this
• 24:58
  Ryan: shift
• 24:58
  Ryan: to
• 24:59
  Ryan: transparency
• 25:00
  Ryan: and
• 25:00
  Ryan: evidence-based
• 25:01
  Ryan: evolution
• 25:02
  Ryan: of
• 25:03
  Ryan: or
• 25:03
  Ryan: evaluation
• 25:04
  Ryan: of
• 25:04
  Ryan: active
• 25:04
  Ryan: management?
• 25:06
  Cesar Gonzales: Sure.
• 25:06
  Cesar Gonzales: So
• 25:06
  Cesar Gonzales: the
• 25:07
  Cesar Gonzales: industry
• 25:07
  Cesar Gonzales: is
• 25:07
  Cesar Gonzales: moving
• 25:08
  Cesar Gonzales: towards
• 25:08
  Cesar Gonzales: more
• 25:08
  Cesar Gonzales: evidence-based
• 25:09
  Cesar Gonzales: decision
• 25:10
  Cesar Gonzales: making.
• 25:11
  Cesar Gonzales: As
• 25:11
  Cesar Gonzales: you
• 25:11
  Cesar Gonzales: know,
• 25:12
  Cesar Gonzales: given
• 25:12
  Cesar Gonzales: the
• 25:12
  Cesar Gonzales: changes
• 25:13
  Cesar Gonzales: in,
• 25:14
  Cesar Gonzales: in
• 25:14
  Cesar Gonzales: the
• 25:14
  Cesar Gonzales: staffing,
• 25:15
  Cesar Gonzales: the
• 25:15
  Cesar Gonzales: type
• 25:15
  Cesar Gonzales: of
• 25:15
  Cesar Gonzales: skills
• 25:16
  Cesar Gonzales: they
• 25:16
  Cesar Gonzales: have,
• 25:16
  Cesar Gonzales: you're
• 25:16
  Cesar Gonzales: seeing
• 25:17
  Cesar Gonzales: more
• 25:17
  Cesar Gonzales: and
• 25:17
  Cesar Gonzales: more
• 25:18
  Cesar Gonzales: quant
• 25:18
  Cesar Gonzales: managing
• 25:19
  Cesar Gonzales: and
• 25:19
  Cesar Gonzales: leading
• 25:20
  Cesar Gonzales: pension
• 25:20
  Cesar Gonzales: plans.
• 25:21
  Cesar Gonzales: But
• 25:22
  Cesar Gonzales: most
• 25:22
  Cesar Gonzales: of
• 25:22
  Cesar Gonzales: those
• 25:22
  Cesar Gonzales: tool
• 25:23
  Cesar Gonzales: that
• 25:24
  Cesar Gonzales: are
• 25:24
  Cesar Gonzales: currently
• 25:24
  Cesar Gonzales: being
• 25:25
  Cesar Gonzales: used
• 25:25
  Cesar Gonzales: still
• 25:26
  Cesar Gonzales: relies
• 25:26
  Cesar Gonzales: on
• 25:26
  Cesar Gonzales: metrics.
• 25:27
  Cesar Gonzales: Metrics
• 25:27
  Cesar Gonzales: that
• 25:28
  Cesar Gonzales: are
• 25:28
  Cesar Gonzales: not
• 25:28
  Cesar Gonzales: predictive.
• 25:29
  Cesar Gonzales: So
• 25:30
  Cesar Gonzales: now
• 25:30
  Cesar Gonzales: they're
• 25:31
  Cesar Gonzales: are
• 25:31
  Cesar Gonzales: more
• 25:31
  Cesar Gonzales: open
• 25:32
  Cesar Gonzales: to
• 25:32
  Cesar Gonzales: look
• 25:32
  Cesar Gonzales: at
• 25:33
  Cesar Gonzales: different
• 25:33
  Cesar Gonzales: ways,
• 25:34
  Cesar Gonzales: like
• 25:34
  Cesar Gonzales: an
• 25:34
  Cesar Gonzales: April
• 25:35
  Cesar Gonzales: methodology
• 25:36
  Cesar Gonzales: and
• 25:36
  Cesar Gonzales: really
• 25:37
  Cesar Gonzales: understanding,
• 25:38
  Cesar Gonzales: you
• 25:38
  Cesar Gonzales: know,
• 25:39
  Cesar Gonzales: is
• 25:39
  Cesar Gonzales: this
• 25:40
  Cesar Gonzales: a
• 25:40
  Cesar Gonzales: good
• 25:40
  Cesar Gonzales: forward
• 25:41
  Cesar Gonzales: looking
• 25:43
  Cesar Gonzales: and,
• 25:44
  Cesar Gonzales: and
• 25:44
  Cesar Gonzales: is
• 25:44
  Cesar Gonzales: this
• 25:46
  Cesar Gonzales: that
• 25:46
  Cesar Gonzales: we
• 25:46
  Cesar Gonzales: can
• 25:46
  Cesar Gonzales: rely
• 25:47
  Cesar Gonzales: on
• 25:47
  Cesar Gonzales: from
• 25:48
  Cesar Gonzales: an
• 25:48
  Cesar Gonzales: efficacy
• 25:48
  Cesar Gonzales: standpoint?
• 25:50
  Cesar Gonzales: So
• 25:50
  Cesar Gonzales: what
• 25:50
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• 25:50
  Cesar Gonzales: do
• 25:50
  Cesar Gonzales: is
• 25:50
  Cesar Gonzales: we
• 25:51
  Cesar Gonzales: test
• 25:52
  Cesar Gonzales: our
• 25:52
  Cesar Gonzales: skill
• 25:52
  Cesar Gonzales: metrics,
• 25:53
  Cesar Gonzales: you
• 25:53
  Cesar Gonzales: know.
• 25:54
  Cesar Gonzales: On
• 25:54
  Cesar Gonzales: a
• 25:54
  Cesar Gonzales: quarterly
• 25:55
  Cesar Gonzales: basis,
• 25:56
  Cesar Gonzales: making
• 25:56
  Cesar Gonzales: sure
• 25:56
  Cesar Gonzales: that
• 25:57
  Cesar Gonzales: we
• 25:57
  Cesar Gonzales: include
• 25:58
  Cesar Gonzales: the
• 25:58
  Cesar Gonzales: entire
• 25:59
  Cesar Gonzales: universe
• 26:00
  Cesar Gonzales: of
• 26:00
  Cesar Gonzales: meanders
• 26:01
  Cesar Gonzales: that
• 26:01
  Cesar Gonzales: have
• 26:01
  Cesar Gonzales: reported
• 26:02
  Cesar Gonzales: and
• 26:02
  Cesar Gonzales: show
• 26:02
  Cesar Gonzales: that
• 26:03
  Cesar Gonzales: manders
• 26:03
  Cesar Gonzales: with
• 26:03
  Cesar Gonzales: stronger
• 26:04
  Cesar Gonzales: skill
• 26:04
  Cesar Gonzales: signals
• 26:05
  Cesar Gonzales: are
• 26:06
  Cesar Gonzales: more
• 26:06
  Cesar Gonzales: likely
• 26:06
  Cesar Gonzales: to
• 26:06
  Cesar Gonzales: outperform
• 26:07
  Cesar Gonzales: over
• 26:08
  Cesar Gonzales: the
• 26:08
  Cesar Gonzales: next
• 26:08
  Cesar Gonzales: three
• 26:08
  Cesar Gonzales: years.
• 26:09
  Cesar Gonzales: It's
• 26:10
  Cesar Gonzales: easy
• 26:10
  Cesar Gonzales: to
• 26:10
  Cesar Gonzales: say
• 26:10
  Cesar Gonzales: that,
• 26:11
  Cesar Gonzales: but
• 26:11
  Cesar Gonzales: if
• 26:12
  Cesar Gonzales: you
• 26:12
  Cesar Gonzales: provide
• 26:13
  Cesar Gonzales: the
• 26:13
  Cesar Gonzales: proof
• 26:13
  Cesar Gonzales: that
• 26:14
  Cesar Gonzales: this
• 26:14
  Cesar Gonzales: is
• 26:14
  Cesar Gonzales: something
• 26:15
  Cesar Gonzales: that's
• 26:15
  Cesar Gonzales: getting
• 26:16
  Cesar Gonzales: tested
• 26:16
  Cesar Gonzales: every
• 26:17
  Cesar Gonzales: quarter,
• 26:18
  Cesar Gonzales: not
• 26:18
  Cesar Gonzales: just
• 26:18
  Cesar Gonzales: based
• 26:18
  Cesar Gonzales: on
• 26:19
  Cesar Gonzales: a
• 26:19
  Cesar Gonzales: back
• 26:19
  Cesar Gonzales: test,
• 26:20
  Cesar Gonzales: the
• 26:21
  Cesar Gonzales: confidence
• 26:22
  Cesar Gonzales: level
• 26:23
  Cesar Gonzales: of
• 26:23
  Cesar Gonzales: the,
• 26:23
  Cesar Gonzales: the
• 26:24
  Cesar Gonzales: new
• 26:24
  Cesar Gonzales: type
• 26:24
  Cesar Gonzales: of
• 26:25
  Cesar Gonzales: investors
• 26:26
  Cesar Gonzales: increases.
• 26:27
  Cesar Gonzales: And,
• 26:28
  Cesar Gonzales: and
• 26:28
  Cesar Gonzales: we,
• 26:28
  Cesar Gonzales: we,
• 26:29
  Cesar Gonzales: we
• 26:29
  Cesar Gonzales: start
• 26:29
  Cesar Gonzales: seeing
• 26:30
  Cesar Gonzales: this,
• 26:30
  Cesar Gonzales: you
• 26:30
  Cesar Gonzales: know,
• 26:31
  Cesar Gonzales: public
• 26:31
  Cesar Gonzales: plans
• 26:31
  Cesar Gonzales: are
• 26:32
  Cesar Gonzales: incorporating
• 26:32
  Cesar Gonzales: April
• 26:33
  Cesar Gonzales: as
• 26:33
  Cesar Gonzales: part
• 26:33
  Cesar Gonzales: of
• 26:33
  Cesar Gonzales: their
• 26:33
  Cesar Gonzales: investment
• 26:34
  Cesar Gonzales: process.
• 26:35
  Cesar Gonzales: So
• 26:36
  Cesar Gonzales: they're
• 26:36
  Cesar Gonzales: relying
• 26:37
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• 26:38
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• 26:39
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• 26:40
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• 26:41
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• 26:41
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• 26:42
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• 26:43
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• 26:44
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• 26:44
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• 26:44
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• 26:46
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• 26:47
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• 26:47
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• 26:48
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• 26:48
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• 26:49
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• 26:50
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• 26:50
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• 26:51
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• 26:51
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• 26:51
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• 26:52
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• 26:52
  Cesar Gonzales: time
• 26:53
  Cesar Gonzales: you
• 26:53
  Cesar Gonzales: know.
• 26:54
  Cesar Gonzales: Getting
• 26:54
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• 26:55
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• 26:56
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• 26:56
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• 26:56
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• 26:57
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• 26:58
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• 26:58
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• 26:59
  Cesar Gonzales: if
• 27:00
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• 27:00
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• 27:01
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• 27:03
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• 27:06
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• 27:06
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• 27:07
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• 27:07
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• 27:08
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• 27:08
  Cesar Gonzales: predictable?
• 27:11
  Ryan: Predictable.
• 27:12
  Ryan: It's
• 27:13
  Ryan: very,
• 27:13
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• 27:14
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• 27:15
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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
  Ryan: often
• 27:17
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• 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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• 27:21
  Ryan: You
• 27:21
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• 27:21
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• 27:26
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• 27:27
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• 27:27
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• 27:28
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  Ryan: Zephyr.
• 27:30
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• 27:30
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• 27:31
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• 27:31
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• 27:32
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• 27:33
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• 27:33
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• 27:33
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• 27:33
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• 27:35
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• 27:36
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• 27:36
  Ryan: manager,
• 27:38
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• 27:39
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• 27:40
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• 27:42
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• 27:43
  Ryan: performance,
• 27:44
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• 27:44
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• 27:45
  Ryan: and
• 27:46
  Ryan: exactly
• 27:46
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• 27:46
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• 27:46
  Ryan: doing.
• 27:47
  Ryan: Bill,
• 27:47
  Ryan: anything
• 27:47
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• 27:48
  Ryan: to
• 27:48
  Ryan: add
• 27:48
  Ryan: at
• 27:48
  Ryan: the
• 27:49
  Ryan: end?
• 27:50
  Bill Himpele: I
• 27:50
  Bill Himpele: think
• 27:50
  Bill Himpele: that,
• 27:51
  Bill Himpele: I
• 27:51
  Bill Himpele: think
• 27:51
  Bill Himpele: Cesar
• 27:51
  Bill Himpele: really
• 27:52
  Bill Himpele: nailed
• 27:52
  Bill Himpele: that.
• 27:52
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• 27:52
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• 27:53
  Bill Himpele: that's
• 27:53
  Bill Himpele: very
• 27:53
  Bill Himpele: much
• 27:53
  Bill Himpele: our
• 27:54
  Bill Himpele: strategy
• 27:54
  Bill Himpele: and
• 27:54
  Bill Himpele: our,
• 27:55
  Bill Himpele: our
• 27:55
  Bill Himpele: perspective.
• 27:57
  Ryan: Awesome
• 27:58
  Ryan: gentlemen,
• 27:58
  Ryan: great
• 27:59
  Ryan: conversation.
• 28:00
  Ryan: I
• 28:00
  Bill Himpele: Yeah.
• 28:01
  Ryan: about
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• 28:01
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• 28:02
  Ryan: and
• 28:03
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• 28:03
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• 28:03
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• 28:04
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• 28:04
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• 28:05
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• 28:05
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• 28:06
  Ryan: and
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• 28:07
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  Ryan: a,
• 28:08
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  Ryan: a
• 28:08
  Ryan: portfolio
• 28:09
  Ryan: manager
• 28:10
  Ryan: of
• 28:10
  Ryan: a
• 28:10
  Ryan: strategy.
• 28:10
  Ryan: I
• 28:10
  Ryan: think
• 28:11
  Ryan: it's
• 28:11
  Ryan: really
• 28:11
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• 28:12
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• 28:12
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• 28:13
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• 28:13
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• 28:13
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• 28:14
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• 28:14
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• 28:14
  Ryan: not
• 28:15
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• 28:17
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• 28:17
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• 28:17
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• 28:17
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• 28:18
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• 28:19
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• 28:21
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• 28:21
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• 28:21
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• 28:21
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• 28:23
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• 28:23
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• 28:24
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• 28:25
  Ryan: understanding
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• 28:25
  Ryan: that's
• 28:26
  Ryan: what
• 28:26
  Ryan: we're
• 28:26
  Ryan: doing
• 28:26
  Ryan: here
• 28:27
  Ryan: at
• 28:27
  Ryan: Zephyr
• 28:27
  Ryan: and
• 28:28
  Ryan: April.
• 28:28
  Ryan: Thank
• 28:29
  Ryan: you
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• 28:29
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• 28:29
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• 28:30
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• 28:31
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• 28:31
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• 28:32
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• 28:32
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• 28:32
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• 28:32
  Ryan: It's
• 28:32
  Ryan: an
• 28:33
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• 28:33
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• 28:34
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• 28:34
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• 28:35
  Ryan: Bill,
• 28:35
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• 28:36
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• 28:37
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• 28:38
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• 28:39
  Bill Himpele: You
• 28:39
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• 28:39
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• 28:40
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• 28:40
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• 28:40
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• 28:41
  Bill Himpele: april.com
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• 28:43
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• 28:44
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• 28:46
  Bill Himpele: us@infoatapril.com
• 28:48
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• 28:49
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• 28:52
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• 28:53
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• 28:53
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• 28:53
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• 28:54
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• 28:54
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• 28:54
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• 28:55
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• 28:57
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• 28:57
  Bill Himpele: there.
• 28:59
  Ryan: Fantastic.
• 29:00
  Ryan: All
• 29:00
  Ryan: right
• 29:00
  Ryan: gentlemen,
• 29:01
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• 29:01
  Ryan: you
• 29:01
  Ryan: so
• 29:01
  Ryan: much
• 29:02
  Ryan: and
• 29:02
  Ryan: thank
• 29:02
  Ryan: you
• 29:03
  Ryan: everyone
• 29:03
  Ryan: for
• 29:03
  Ryan: listening
• 29:04
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• 29:04
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• 29:04
  Ryan: episode
• 29:05
  Ryan: is
• 29:05
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• 29:06
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• 29:06
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• 29:06
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• 29:07
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• 29:07
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• 29:08
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• 29:08
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• 29:08
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• 29:08
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• 29:08
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• 29:08
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• 29:09
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• 29:12
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• 29:13
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• 29:14
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• 29:15
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• 29:17
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• 29:18
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• 29:18
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• 29:19
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• 29:19
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• 29:20
  Cesar Gonzales: Okay,
• 29:20
  Cesar Gonzales: you
• 29:20
  Cesar Gonzales: take
• 29:21
  Cesar Gonzales: care.