BlackRock’s Rick Rieder - Rethinking Risk Into 2026 | #609

The Meb Faber Show - Better Investing

The Idea Farm

Management, Business, Investing

4.8 • 978 Ratings

🗓️ 12 December 2025

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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 ----- Follow Meb on X, 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: AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- 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! ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.
0:10.9	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser.
0:16.9	Better investing starts here.
0:19.5	Metfabor is the co-founder and chief investment officer at Cambria Investment Management.
0:22.5	Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:25.8	All opinions expressed by podcast participants are solely their own opinions and do not reflect
0:28.9	the opinion of Cambria Investment Management or its affiliates.
0:31.2	For more information, visit Cambriainvestments.com.
0:34.9	Today's show is sponsored by Cambria.
0:37.0	Do you hold legacy investment positions with significant gains?
0:40.8	What if you could transition into an ETF without facing a large tax bill?
0:44.8	You can with a 351 ETF exchange.
0:48.4	Here's how it works.
0:49.8	Investors contribute stocks or other securities to a newly formed ETF in exchange for ETF shares.
0:55.0	As long as the special rules and diversification requirements are met, the investor is essentially able to cede the launch of the ETF
1:02.0	without an immediate taxable event. Because ETFs typically don't distribute any capital gains,
1:07.0	investors don't face taxes until they sell their ETF shares, allowing for
1:11.2	better control over the timing of the tax event. Are you ready to explore a 351 ETF exchange?
1:17.3	Visit cambriafunds.com forward slash 351 to take the next step in innovative, tax-savvy
1:23.3	investing with Cambria today. Cambria Investment Management LP, Camberia is a registered
1:26.9	investment advisor. Information set forth herein is for informational purposes only and does not constitute
1:30.1	financial investment tax or legal advice. Past performance does not guarantee future results. All investments
	...

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