BlackRock's Rick Rieder on The State of Markets & The US Debt Problem | #516

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 10 January 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s returning guest is Rick Rieder, BlackRock’s CIO of Global Fixed Income and the Head of the BlackRock’s Global Allocation team. Rick recently won the Morningstar 2023 Outstanding Portfolio Manager award. In today’s episode, Rick shares his take on the macroeconomic landscape as we kick off a new year. He touches on the set up for both stocks and bonds and why he’s focused on finding companies that have “rivers of fast cash flow.” We talk about several other topics including crypto, AI, Japan, the recent shift by the Fed, US debt levels, and much more. As we wind down, Rick touches on his entrance into the ETF space this year with two fund launches. Listen to Rick’s first appearance on the podcast. • 1:30 - Welcome Rick back to the show • 2:36 - Reflecting on current market dynamics • 5:14 - The state of the bond market • 9:00 - Rick’s take on inflation dynamics • 10:55 - Areas of the market that Rick likes today • 15:58 - Opportunities in fixed-income • 22:01 - Rick touches on several asset classes, including crypto, Japan & India • 32:38 - Rick’s new ETFs • 36:01 - Reviewing unexpected outcomes from the last year • 42:06 - Rick's most controversial viewpoints • 46:33 - Thoughts on AI ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only) Sponsor: Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok ----- Interested in sponsoring the show? Email us at [email protected] ----- 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. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Med Faber Show, where the focus is on helping you grow and preserve your wealth.
0:09.0	Join us as we discuss the craft of investing and uncover new and profitable ideas all to help you grow
0:13.9	wealthier and wiser. Better investing starts here.
0:17.0	Matt Baber is the co-founder and chief investment officer at Cambury Investment Management
0:21.0	due to industry regulations he will not discuss any of Cambry's funds on this podcast.
0:25.1	All opinions expressed by podcast participants are solely their own opinions and do not reflect
0:28.6	the opinion of Cambria Investment Management or its affiliates.
0:31.2	For more information, visit Cambria Investments.com.
0:33.4	Happy New Year, everybody. We got a special episode today. Our returning guest is Rick
0:42.3	Reader, Blackrock's CIO of Global Fixed Income
0:45.2	and the head of their global allocation team. Today's episode Rick shares his
0:49.7	take on the macroeconomic landscape as we kick off a new year.
0:53.7	He touches on the setup for both stocks and bonds and why he's focused on
0:57.1	finding companies that have quote rivers of cash flow.
1:01.3	We talk about several other topics including crypto, AI, Japan, the
1:05.1	recent shift by the Fed, US debt levels, and much more. As we wind down, Rick
1:10.4	touches on his entrance into the E.T.F. space this year with two fun launches.
1:15.0	Welcome to the party.
1:17.0	If you want to listen to Rick's first appearance on the podcast last fall,
1:20.0	check out the link in the show notes or scroll back to episode number 446.
1:23.6	This episode is brought to you by 10 East.
1:28.8	Long time listeners know I've invested in private markets quite a bit myself, but with access to these markets
	...

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