Porter and Erez talk trading. Porter asks him how he got his start in the hedge fund world. “It wasn’t through the usual path.” That’s what makes him one of Porter’s go-to guys... And as friends do, they swap great trading stories.

They talk about the eventual end-game of all this quantitative easing and what happens when the central banks have to unwind their positions. Erez cautions “whatever outcome happens, it will likely be associated with an enormous amount of volatility in the markets that will be very painful and very difficult to endure.”