Today’s guest is Rick Rieder. Rick oversees more than $2 trillion in assets as the Chief Investment Officer of Global Fixed Income at BlackRock. He also heads the Fundamental Fixed Income business and the Global Allocation Investment Team.

In today’s episode, Rick discusses the current state of the markets, focusing on year-end dynamics, free cash flow at big-tech companies, and the evolving economic landscape since Liberation Day. He explains both what he expects the Fed to do and what he thinks they should do, and how that relates to portfolio construction. The discussion also explores the differences between gambling and investing, lessons from tennis that apply to investing, and much more.

(0:00) Starts

(1:31) Rick Rieder's market thoughts

(4:23) Market sentiment and cash flow impacts

(7:18) Small caps, M&A potential, and broad economic concerns

(17:12) Interest rate forecasts

(21:13) BINC ETF and fixed income outlook

(24:28) Gambling vs. investing

(31:36) Perspectives on precious metals and technological investment implications

(35:27) Investing advice for young people and 2026 outlook

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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

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