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The right way to think about how large derivative markets are, and what's the risk associated with that size? By some measures, derivatives are over quadrillion in value outstanding. The idea that the notion of derivatives is somehow, like itself a risk factor was never super compelling to me. And there's a certain centralization of risk with derivatives.

Is Matt Levine a modern-day Horace? Like Matt, Horace has a preoccupation with wealth and the law. There’s a playful humor as he segues from topic to topic. An ability to read Latin. And many of Horace’s letters are about the length of a Bloomberg View column. QED, says Tyler.

So Matt, the Latin teacher turned lawyer turned investment banker turned finance writer, recently joined Tyler for a conversation on Horace and more, including cryptocurrencies, Buffy the Vampire Slayer, Nabakov, New York, Uber, financial regulation, market volatility, M&A, whether finance is nerdy, and why panic is central to the Matt Levine production function.

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