JERRY_NP0 GETS_VVZ UP_AVP and_CJC puts_VVZ on_PRP a_AT0 pot_NN1 of_PRF coffee_NN1 ._SENT Squawk_NN1 Box_NN1 is_VBZ on_PRP the_AT0 television_NN1 ._SENT They_PNP 're_VBB bantering_VVG about_PRP whatever_DTQ happened_VVD on_PRP Twitter_NN1 that_DT0 morning_NN1 ._SENT Jerry_NP0 's_VBZ not_XX0 on_PRP Twitter_NN1 ._SENT He_PNP 's_VBZ tired_AJ0 of_PRF hearing_VVG about_PRP all_DT0 the_AT0 rhetorical_AJ0 twists_NN2 and_CJC turns_VVZ on_PRP the_AT0 app_NN1 that_CJT are_VBB constantly_AV0 pushing_VVG his_DPS stocks_NN2 around_AVP ._SENT Sports_NN2 commentators_NN2 and_CJC actors_NN2 turned_VVD venture_NN1 capitalists_NN2 are_VBB causing_VVG gyrations_NN2 in_PRP the_AT0 value_NN1 of_PRF his_DPS retirement_NN1 portfolio_NN1 with_PRP their_DPS online_AJ0 antics_NN2 ._SENT 
Remember_VVB when_CJS stocks_NN2 traded_VVN on_PRP fundamentals_NN2 ?_SENT Or_CJC at_PRP least_AV0 they_PNP traded_VVD based_VVN on_PRP people_NN0 's_POS perceptions_NN2 of_PRF the_AT0 fundamentals_NN2 ._SENT What_DTQ do_VDB they_PNP trade_VVI on_AVP today_AV0 ?_SENT It_PNP was_VBD always_AV0 a_AT0 popularity_NN1 contest_NN1 ._SENT Now_AV0 it_PNP 's_VBZ a_AT0 three-ring_AJ0 circus_NN1 ._SENT 
It_PNP makes_VVZ no_AT0 sense_NN1 ._SENT Jerry_NP0 is_VBZ tired_AJ0 ._SENT 
Upstairs_AV0 there_EX0 's_VBZ a_AT0 burst_NN1 of_PRF excitement_NN1 ,_PUN the_AT0 sound_NN1 of_PRF a_AT0 young_AJ0 man_NN1 cheering_NN1 ._SENT It_PNP 's_VBZ Jerry_NP0 's_POS kid_NN1 ,_PUN Aiden_NP0 ._SENT Aiden_NP0 's_VHZ been_VBN out_AVP of_PRF school_NN1 for_PRP years_NN2 ._SENT He_PNP 's_VBZ making_VVG as_CJS much_AV0 as_CJS Jerry_NP0 did_VDD 30_CRD years_NN2 ago_AV0 ._SENT That_DT0 's_VBZ not_XX0 enough_AV0 to_TO0 buy_VVI a_AT0 house_NN1 these_DT0 days_NN2 ,_PUN but_CJC it_PNP 's_VBZ plenty_PNI to_TO0 sit_VVI in_PRP a_AT0 room_NN1 all_DT0 day_NN1 and_CJC speculate_VVB ._SENT Aiden_NP0 's_POS trading_NN1 as_CJS much_AV0 as_CJS he_PNP 's_VBZ working_VVG in_PRP his_DPS actual_AJ0 work-from-home_NN1 job_NN1 ,_PUN and_CJC it_PNP sounds_VVZ like_PRP he_PNP just_AV0 scored_VVD again_AV0 ._SENT 
Jerry_NP0 spent_VVD three_CRD decades_NN2 saving_VVG and_CJC investing_VVG ,_PUN prudently_AV0 and_CJC dutifully_AV0 ._SENT He_PNP and_CJC Nancy_NP0 have_VHB accumulated_VVN $_NN0 1.2_CRD million_CRD —_PUN for_PRP them_PNP it_PNP 's_VBZ all_DT0 the_AT0 money_NN1 in_PRP the_AT0 world_NN1 ._SENT Took_VVD them_PNP their_DPS entire_AJ0 lives_NN2 ._SENT 
Aiden_NP0 made_VVD $_NN0 800_CRD ,_PUN 000_CRD in_PRP the_AT0 past_AJ0 12_CRD months_NN2 ,_PUN starting_VVG with_PRP the_AT0 $_NN0 25_CRD ,_PUN 000_CRD his_DPS grandfather_NN1 left_VVD him_PNP ._SENT He_PNP did_VDD it_PNP from_PRP a_AT0 phone_NN1 ,_PUN knowing_VVG virtually_AV0 nothing_PNI about_PRP the_AT0 instruments_NN2 he_PNP traded_VVD ._SENT Read_VVB a_AT0 few_DT0 posts_NN2 on_PRP Seeking_VVG Alpha_NN1 ,_PUN saw_VVD a_AT0 few_DT0 tweets_NN2 from_PRP Mark_NP0 Cuban_AJ0 ,_PUN and_CJC pressed_VVD the_AT0 Buy_VVB button_NN1 ._SENT Then_AV0 again_AV0 ,_PUN and_CJC again_AV0 ._SENT Then_AV0 with_PRP leverage_NN1 ._SENT Then_AV0 with_PRP crypto_NN1 ._SENT It_PNP worked_VVD ,_PUN repeatedly_AV0 ._SENT Large_AJ0 gains_NN2 led_VVN to_PRP larger_AJC trades_NN2 ,_PUN which_DTQ led_VVD to_PRP even_AV0 larger_AJC gains_NN2 ._SENT "_PUQ Why_AVQ does_VDZ n't_XX0 everyone_PNI do_VDI this_DT0 ?_SENT "_PUQ 
Jerry_NP0 's_POS role_NN1 in_PRP the_AT0 market_NN1 is_VBZ changing_AJ0 ._SENT He_PNP 's_VBZ entering_VVG what_DTQ financial_AJ0 planners_NN2 euphemistically_AV0 call_VVB "_PUQ the_AT0 decumulation_NN1 phase_NN1 ,_PUN "_PUQ as_CJS his_DPS consulting_AJ0 work_NN1 slows_VVZ down_AVP and_CJC his_DPS retirement_NN1 income_NN1 needs_VVZ ramp_NN1 up_AVP ._SENT The_AT0 popular_AJ0 rule-of-thumb_AJ0 retirement_NN1 income_NN1 strategy_NN1 —_PUN withdrawing_VVG 4_CRD %_NN0 per_PRP year_NN1 —_PUN cannot_NN1 be_VBI accomplished_VVN with_PRP bond_NN1 yields_NN2 alone_AV0 ,_PUN as_CJS in_PRP the_AT0 olden_AJ0 days_NN2 ._SENT If_CJS Jerry_NP0 wants_VVZ his_DPS 4_CRD %_NN0 ,_PUN he_PNP 'll_VM0 have_VHI to_TO0 get_VVI some_DT0 of_PRF it_PNP from_PRP principal_NN1 ,_PUN which_DTQ means_VVZ being_VBG a_AT0 seller_NN1 of_PRF stocks_NN2 for_PRP the_AT0 next_ORD few_DT0 decades_NN2 ._SENT 
As_CJS Jerry_NP0 and_CJC his_DPS generation_NN1 gradually_AV0 exit_NN1 from_PRP the_AT0 market_NN1 ,_PUN they_PNP 're_VBB being_VBG replaced_VVN by_PRP Aiden_NP0 's_POS cohort_NN1 ._SENT And_CJC Aiden_NP0 's_POS cohort_NN1 is_VBZ n't_XX0 sentimental_AJ0 ._SENT The_AT0 conventions_NN2 from_PRP Jerry_NP0 's_POS day_NN1 hold_VVB no_AT0 interest_NN1 for_PRP Aiden_NP0 or_CJC Jayden_NP0 or_CJC Chelsea_NP0 or_CJC Tyler_NP0 or_CJC Madison_NP0 ._SENT They_PNP do_VDB n't_XX0 respect_VVI the_AT0 traditions_NN2 ._SENT The_AT0 publications_NN2 ._SENT The_AT0 protocols_NN2 ._SENT The_AT0 norms_NN2 ._SENT There_EX0 's_VBZ no_AT0 advice_NN1 you_PNP can_VM0 give_VVI them_PNP that_CJT they_PNP will_VM0 adhere_VVI to_PRP ,_PUN just_AV0 as_CJS the_AT0 boomers_NN2 defied_VVD their_DPS Depression-era_AJ0 parents_NN2 with_PRP their_DPS own_DT0 excesses_NN2 ._SENT 
There_EX0 's_VBZ an_AT0 old_AJ0 "_PUQ Wizard_NN1 of_PRF Id_NN1 "_PUQ cartoon_NN1 Jerry_NP0 remembers_VVZ from_PRP his_DPS own_DT0 youth_NN1 in_PRP the_AT0 '_PUQ 60s_CRD ._SENT It_PNP said_VVD ,_PUN "_PUQ Remember_VVB the_AT0 Golden_AJ0 Rule_NN1 :_PUN Whoever_PNQ has_VHZ the_AT0 gold_NN1 makes_VVZ the_AT0 rules_NN2 ._SENT "_PUQ Aiden_NP0 's_POS generation_NN1 went_VVD from_PRP almost_AV0 no_AT0 participation_NN1 in_PRP the_AT0 stock_NN1 market_NN1 to_PRP overnight_AJ0 dominance_NN1 of_PRF it_PNP ._SENT They_PNP have_VHB the_AT0 gold_NN1 ._SENT They_PNP make_VVB the_AT0 rules_NN2 ._SENT Millions_CRD of_PRF new_AJ0 brokerage_NN1 accounts_NN2 ._SENT Trillions_CRD in_PRP value_NN1 transferred_VVN from_PRP taxpayers_NN2 and_CJC the_AT0 Federal_AJ0 Reserve_NN1 into_PRP accounts_NN2 at_PRP Robinhood_NP0 and_CJC Coinbase_NP0 ._SENT More_DT0 money_NN1 pouring_VVG in_AVP with_PRP every_AT0 paycheck_NN1 ._SENT Leverage_NN1 ,_PUN too_AV0 ,_PUN because_CJS either_AV0 this_DT0 generation_NN1 is_VBZ truly_AV0 fearless_AJ0 or_CJC (_PUL more_AV0 likely_AJ0 )_PUR they_PNP have_VHB n't_XX0 had_VHN enough_DT0 time_NN1 to_TO0 lose_VVI money_NN1 yet_AV0 ._SENT Either_DT0 way_NN1 ,_PUN they_PNP decide_VVB what_DTQ 's_VBZ important_AJ0 to_TO0 pay_VVI attention_NN1 to_PRP and_CJC what_DTQ 's_VBZ irrelevant_AJ0 ._SENT If_CJS they_PNP choose_VVB to_TO0 react_VVI to_PRP a_AT0 10-word_AJ0 Elon_NP0 Musk_NP0 tweet_VVB rather_AV0 than_CJS a_AT0 three-hour_AJ0 Warren_NP0 Buffett_NP0 monologue_NN1 ,_PUN how_AVQ will_VM0 you_PNP stop_VVI them_PNP ?_SENT 
How_AVQ do_VDB you_PNP explain_VVI stock_NN1 market_NN1 risk_NN1 to_PRP someone_PNI whose_DTQ only_AV0 formative_AJ0 experience_NN1 with_PRP it_PNP took_VVD the_AT0 form_NN1 of_PRF a_AT0 16-day_AJ0 bear_NN1 market_NN1 last_ORD March_NP0 ,_PUN about_PRP the_AT0 length_NN1 of_PRF time_NN1 of_PRF an_AT0 NBA_NN1 Finals_NN2 series_NN0 ?_SENT How_AVQ do_VDB you_PNP convince_VVI newly_AV0 minted_AJ0 investors_NN2 that_DT0 diversification_NN1 makes_VVZ sense_NN1 when_CJS the_AT0 first_ORD stock_NN1 they_PNP ever_AV0 bought_VVD ,_PUN Tesla_NP0 ,_PUN rose_VVD 800_CRD %_NN0 while_CJS everything_PNI else_AV0 moved_VVN in_PRP slow_AJ0 motion_NN1 ?_SENT How_AVQ can_VM0 you_PNP expect_VVI them_PNP to_TO0 respect_VVI their_DPS elders_NN2 when_CJS their_DPS elders_NN2 seem_VVB to_TO0 be_VBI giving_VVG them_PNP horrible_AJ0 advice_NN1 ?_SENT "_PUQ Do_VDB n't_XX0 trade_VVI too_AV0 often_AV0 ,_PUN do_VDB n't_XX0 use_VVI margin_NN1 ,_PUN Bitcoin_NN1 is_VBZ fake_AJ0 ,_PUN Tesla_NN1 is_VBZ overvalued_VVN ,_PUN cannabis_NN1 is_VBZ a_AT0 bubble_NN1 ,_PUN SPACs_NN2 are_VBB a_AT0 scam_NN1 ..._PUN "_PUQ You_PNP are_VBB Charlie_NP0 Brown_NP0 's_POS teacher_NN1 now_AV0 —_PUN your_DPS admonitions_NN2 have_VHB become_VVN background_NN1 noise_NN1 ._SENT 
And_CJC besides_AV0 ,_PUN it_PNP 's_VHZ all_AV0 been_VBN so_AV0 easy_AJ0 ._SENT Between_PRP March_NP0 23_CRD ,_PUN 2020_CRD (_PUL the_AT0 market_NN1 bottom_NN1 )_PUR ,_PUN and_CJC that_CJT same_DT0 date_NN1 this_DT0 year_NN1 ,_PUN 96_CRD %_NN0 of_PRF U.S._NP0 stocks_NN2 had_VHD a_AT0 positive_AJ0 return_NN1 ._SENT You_PNP could_VM0 not_XX0 have_VHI lost_VVN money_NN1 if_CJS you_PNP 'd_VHD tried_VVN ._SENT Imagine_VVB learning_VVG to_TO0 invest_VVI in_PRP an_AT0 environment_NN1 like_PRP this_DT0 ._SENT How_AVQ would_VM0 you_PNP be_VBI acting_AJ0 if_CJS this_DT0 was_VBD your_DPS first_ORD experience_NN1 with_PRP stocks_NN2 ?_SENT Jerry_NP0 ca_VM0 n't_XX0 understand_VVI it_PNP ._SENT He_PNP 's_VHZ seen_VVN bull_NN1 markets_NN2 ,_PUN but_CJC nothing_PNI like_PRP this_DT0 before_AV0 ._SENT Everything_PNI goes_VVZ up_AVP ._SENT We_PNP locked_VVD everyone_PNI in_PRP their_DPS homes_NN2 for_PRP a_AT0 year_NN1 and_CJC gave_VVD them_PNP a_AT0 virtual_AJ0 life_NN1 to_TO0 live_VVI on_PRP their_DPS screens_NN2 ._SENT Why_AVQ should_VM0 we_PNP be_VBI surprised_AJ0 if_CJS they_PNP treat_VVB money_NN1 and_CJC investments_NN2 like_PRP prizes_NN2 in_PRP a_AT0 video_NN1 game_NN1 ?_SENT 
IF_CJS YOU_PNP HAD_VHD opened_VVN your_DPS first_ORD brokerage_NN1 account_NN1 in_PRP the_AT0 spring_NN1 of_PRF 2020_CRD ,_PUN you_PNP would_VM0 most_AV0 likely_AV0 have_VHI opened_VVN it_PNP at_PRP Robinhood_NN1 ._SENT You_PNP did_VDD n't_XX0 drive_VVI over_AVP there_AV0 ,_PUN park_VVB your_DPS car_NN1 ,_PUN and_CJC talk_VVB to_PRP a_AT0 man_NN1 in_PRP a_AT0 suit_NN1 about_PRP your_DPS objectives_NN2 ._SENT Instead_AV0 ,_PUN you_PNP downloaded_VVD an_AT0 app_NN1 ,_PUN transferred_VVD $_NN0 500_CRD in_PRP from_PRP your_DPS couch_NN1 ,_PUN and_CJC pressed_VVD some_DT0 buttons_NN2 ._SENT Within_PRP 24_CRD hours_NN2 that_CJT $_NN0 500_CRD was_VBD likely_AJ0 worth_PRP $_NN0 750._CRD Within_PRP a_AT0 week_NN1 ,_PUN $_NN0 3_CRD ,_PUN 600._CRD "_PUQ I_PNP am_VBB a_AT0 genius_NN1 ,_PUN "_PUQ you_PNP said_VVD ._SENT "_PUQ I_PNP should_VM0 put_VVI in_PRP more_DT0 ._SENT I_PNP should_VM0 borrow_VVI some_DT0 ._SENT What_DTQ 's_VBZ moving_VVG faster_AJC than_CJS stocks_NN2 ?_SENT "_PUQ 
With_PRP a_AT0 Robinhood_NN1 account_NN1 ,_PUN your_DPS first_ORD exposure_NN1 to_PRP cryptocurrencies_NN2 does_VDZ not_XX0 frame_VVI them_PNP as_PRP an_AT0 unproven_AJ0 alternative_NN1 to_PRP stocks_NN2 ._SENT The_AT0 two_CRD stand_NN1 on_PRP equal_AJ0 footing_NN1 ._SENT Coke_NP0 and_CJC Pepsi_NP0 ._SENT Feel_VVB like_PRP trading_NN1 one_CRD or_CJC the_AT0 other_NN1 ?_SENT Have_VHB at_PRP it_PNP ,_PUN no_AT0 difference_NN1 ._SENT This_DT0 is_VBZ radically_AV0 different_AJ0 from_PRP the_AT0 experience_NN1 of_PRF the_AT0 Gen_NP0 X_ZZ0 and_CJC boomer_NN1 investors_NN2 logging_VVG in_AVP through_PRP Schwab_NP0 ,_PUN Fidelity_NN1 ,_PUN or_CJC Vanguard_NN1 to_TO0 check_VVI their_DPS balances_NN2 or_CJC download_VVB a_AT0 statement_NN1 ._SENT They_PNP may_VM0 come_VVI across_PRP a_AT0 link_NN1 to_PRP an_AT0 article_NN1 about_PRP crypto_NN1 ,_PUN but_CJC it_PNP certainly_AV0 wo_VM0 n't_XX0 be_VBI an_AT0 opportunity_NN1 to_TO0 transact_VVI ._SENT On_PRP Robinhood_NP0 's_POS app_NN1 you_PNP practically_AV0 ca_VM0 n't_XX0 escape_VVI it_PNP ._SENT The_AT0 generation_NN1 creating_VVG the_AT0 new_AJ0 conventions_NN2 of_PRF the_AT0 investing_AJ0 landscape_NN1 views_NN2 stocks_NN2 and_CJC crypto_NN1 coins_NN2 as_CJS interchangeable_AJ0 ._SENT Aiden_NP0 ca_VM0 n't_XX0 discern_VVI any_DT0 difference_NN1 between_PRP trading_NN1 one_CRD or_CJC the_AT0 other_NN1 ._SENT Both_DT0 were_VBD available_AJ0 to_TO0 buy_VVI and_CJC sell_VVI from_PRP the_AT0 first_ORD day_NN1 he_PNP got_VVD started_VVN ,_PUN just_AV0 as_CJS stocks_NN2 and_CJC bonds_NN2 were_VBD when_CJS Jerry_NP0 first_ORD opened_VVD his_DPS IRA_NP0 ._SENT If_CJS it_PNP moves_VVZ ,_PUN it_PNP moves_VVZ ._SENT Take_VVB a_AT0 moment_NN1 to_TO0 process_VVI this_DT0 ,_PUN but_CJC get_VVB used_VVN to_PRP it_PNP ._SENT Like_PRP the_AT0 air_NN1 you_PNP breathe_VVB ,_PUN it_PNP 's_VBZ not_XX0 going_VVG away_AV0 ._SENT 
Aiden_NP0 is_VBZ taking_VVG profits_NN2 from_PRP Bitcoin_NP0 and_CJC Tesla_NP0 and_CJC GameStop_NP0 and_CJC Ethereum_NP0 and_CJC Polkadot_NP0 and_CJC AMC_NP0 and_CJC Riot_NN1 Blockchain_NN1 ._SENT He_PNP 's_VBZ not_XX0 going_VVG to_TO0 take_VVI Jerry_NP0 's_POS advice_NN1 on_PRP what_DTQ to_TO0 do_VDI with_PRP the_AT0 proceeds_NN2 ,_PUN either_AV0 ._SENT He_PNP 's_VBZ not_XX0 putting_VVG some_DT0 in_PRP the_AT0 bank_NN1 ._SENT He_PNP 's_VBZ not_XX0 buying_VVG any_DT0 "_PUQ Spider_NN1 ETFs_NN2 ,_PUN "_PUQ whatever_DTQ that_DT0 is_VBZ ._SENT His_DPS gold_NN1 ,_PUN his_DPS rules_NN2 ._SENT He_PNP 's_VBZ buying_VVG NFTs_NN2 instead_AV0 ._SENT Crypto_NN1 art_NN1 ._SENT Fractions_NN2 of_PRF Ferraris_NP0 ._SENT NBA_NN1 video_NN1 clips_NN2 ._SENT 
Aiden_NP0 's_POS girlfriend_NN1 Lakshmi_NP0 works_VVZ in_PRP marketing_NN1 for_PRP Airbnb_NP0 ._SENT When_CJS the_AT0 company_NN1 went_VVD public_AJ0 this_DT0 winter_NN1 ,_PUN her_DPS net_AJ0 worth_NN1 soared_VVD above_PRP Aiden_NP0 's_POS and_CJC Jerry_NP0 's_VBZ combined_VVN ._SENT A_AT0 job_NN1 she_PNP held_VVD for_PRP three_CRD years_NN2 paid_VVD her_PNP more_AV0 than_CJS a_AT0 lifetime_NN1 's_POS worth_NN1 of_PRF Jerry_NP0 's_POS savings_NN2 ._SENT All_DT0 those_DT0 meetings_NN2 ,_PUN mediations_NN2 ,_PUN court_NN1 appearances_NN2 ,_PUN and_CJC late_AJ0 nights_NN2 reading_VVG through_PRP documents_NN2 ._SENT All_DT0 that_DT0 travel_NN1 and_CJC commuting_NN1 ._SENT Jerry_NP0 invested_VVD prudently_AV0 because_CJS the_AT0 money_NN1 seemed_VVD irreplaceable_AJ0 ._SENT He_PNP 'd_VHD traded_VVN hours_NN2 and_CJC days_NN2 and_CJC years_NN2 to_TO0 save_VVI it_PNP up_AVP ._SENT The_AT0 same_DT0 amount_NN1 is_VBZ now_AV0 raining_VVG on_PRP people_NN0 daily_AJ0 ._SENT They_PNP 're_VBB earning_VVG his_DPS portfolio_NN1 's_POS value_NN1 by_PRP accident_NN1 ._SENT Earning_VVG is_VBZ n't_XX0 the_AT0 right_AJ0 word_NN1 ._SENT Stumbling_VVG upon_PRP is_VBZ more_AV0 apropos_AV0 ._SENT 
Lakshmi_NP0 knows_VVZ it_PNP 's_VBZ unlikely_AJ0 she_PNP will_VM0 experience_VVI a_AT0 liquidity_NN1 event_NN1 like_PRP this_DT0 again_AV0 ._SENT But_CJC she_PNP also_AV0 has_VHZ her_DPS whole_AJ0 life_NN1 ahead_AV0 of_PRF her_PNP ._SENT She_PNP has_VHZ no_AT0 idea_NN1 what_DTQ she_PNP wants_VVZ to_TO0 do_VDI with_PRP the_AT0 rest_NN1 of_PRF her_DPS twenties_CRD ,_PUN so_AV0 the_AT0 idea_NN1 of_PRF retirement_NN1 is_VBZ almost_AV0 farcical_AJ0 ._SENT An_AT0 equally_AV0 laughable_AJ0 notion_NN1 is_VBZ that_CJT she_PNP should_VM0 settle_VVI for_PRP the_AT0 annual_AJ0 average_AJ0 returns_NN2 of_PRF the_AT0 "_PUQ safe_AJ0 "_PUQ 60_CRD /_PUN 40_CRD stock-andbond_AJ0 portfolios_NN2 touted_VVN by_PRP planners_NN2 and_CJC advisers_NN2 ._SENT "_PUQ Do_VDB you_PNP see_VVI anyone_PNI who_PNQ 's_VBZ doing_VDG anything_PNI average_AJ0 getting_VVG ahead_AV0 in_PRP life_NN1 ?_SENT "_PUQ she_PNP asks_VVZ herself_PNX ._SENT "_PUQ America_NP0 does_VDZ n't_XX0 work_VVI for_PRP average_AJ0 people_NN0 ._SENT "_PUQ She_PNP has_VHZ a_AT0 portfolio_NN1 with_PRP more_DT0 angel_NN1 investments_NN2 than_CJS blue-chip_AJ0 stocks_NN2 ._SENT Her_DPS college_NN1 friends_NN2 and_CJC former_DT0 colleagues_NN2 are_VBB starting_VVG companies_NN2 and_CJC soliciting_AJ0 capital_NN1 ._SENT These_DT0 businesses_NN2 are_VBB getting_VVG funded_AJ0 ,_PUN scaled_AJ0 ,_PUN and_CJC acquired_VVD almost_AV0 as_CJS fast_AV0 as_CJS they_PNP can_VM0 hire_VVI ._SENT Why_AVQ anyone_PNI would_VM0 prefer_VVI a_AT0 mutual_AJ0 fund_NN1 is_VBZ a_AT0 total_AJ0 mystery_NN1 to_PRP her_PNP ._SENT 
THIS_DT0 IS_VBZ AIDEN_NP0 and_CJC Lakshmi_NP0 's_POS market_NN1 ._SENT It_PNP 's_VBZ growing_VVG horizontally_AV0 and_CJC cannot_NP0 even_AV0 contain_VVB the_AT0 amount_NN1 of_PRF capital_NN1 swirling_VVG around_AVP in_PRP the_AT0 ether_NN1 ._SENT It_PNP 's_VBZ expanded_AJ0 outward_AV0 to_TO0 include_VVI blankcheck_AJ0 companies_NN2 ,_PUN venturebacked_AJ0 startups_NN2 ,_PUN tradable_AJ0 bits_NN2 of_PRF computer_NN1 code_NN1 ,_PUN investable_AJ0 software_NN1 protocols_NN2 ,_PUN claims_NN2 on_PRP fractional_AJ0 ownership_NN1 in_PRP everything_PNI from_PRP comic_AJ0 books_NN2 to_PRP cars_NN2 and_CJC a_AT0 whole_AJ0 lot_NN1 more_AV0 ._SENT The_AT0 everything-goes-up_AJ0 era_NN1 will_VM0 end_VVI someday_AV0 ,_PUN maybe_AV0 even_AV0 soon_AV0 ,_PUN but_CJC the_AT0 habits_NN2 ,_PUN expectations_NN2 ,_PUN and_CJC ambitions_NN2 it_PNP created_VVD wo_VM0 n't_XX0 go_VVI away_AV0 ._SENT 
For_PRP 14_CRD months_NN2 ,_PUN the_AT0 digital_AJ0 stock_NN1 market_NN1 hummed_VVD along_AVP without_PRP a_AT0 hitch_NN1 while_CJS the_AT0 physical_AJ0 location_NN1 that_CJT was_VBD once_AV0 emblematic_AJ0 of_PRF American_AJ0 capitalism_NN1 —_PUN the_AT0 New_AJ0 York_NP0 Stock_NN1 Exchange_NN1 —_PUN sat_VVD closed_AJ0 and_CJC nearly_AV0 empty_AJ0 ,_PUN a_AT0 museum_NN1 commemorating_VVG an_AT0 earlier_AJC version_NN1 of_PRF the_AT0 world_NN1 ._SENT Jerry_NP0 's_POS stock_NN1 market_NN1 is_VBZ fading_VVG away_AV0 with_PRP every_AT0 passing_AJ0 day_NN1 ._SENT And_CJC it_PNP 's_VBZ never_AV0 coming_VVG back_AVP ._SENT 
Here_AV0 's_VBZ the_AT0 actuarial_AJ0 math_NN1 :_PUN If_CJS Jerry_NP0 makes_VVZ it_PNP to_PRP 65_CRD ,_PUN he_PNP has_VHZ a_AT0 one_CRD in_PRP four_CRD shot_NN1 of_PRF making_VVG it_PNP to_PRP 95._CRD That_DT0 could_VM0 mean_VVI a_AT0 retirement_NN1 spanning_VVG three_CRD decades_NN2 ._SENT Interest_NN1 rates_NN2 on_PRP Treasuries_NN2 are_VBB not_XX0 going_VVG to_TO0 get_VVI him_PNP there_AV0 ._SENT The_AT0 one_CRD thing_NN1 we_PNP know_VVB about_PRP the_AT0 post-pandemic_AJ0 period_NN1 is_VBZ that_CJT its_DPS primary_AJ0 attraction_NN1 is_VBZ skyrocketing_VVG costs_NN2 for_PRP everything_PNI ._SENT 
