Rick Rieder
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Rick Rieder is The Navigator in the most literal sense of the archetype. BlackRock's Global Fixed Income CIO rejects top-down macro dogma in favor of granular, bottoms-up signal-reading, treating earnings reports as compass and market psychology as current.
“So it's a fascinating dynamic that's playing into markets today. So, I don't think most of the people, economists, people that follow the fad that listen to what the Fed's saying, I don't think anybody believes the Fed's going to cut rates in 2023. Oh, really?”
“Listen, we're not doing a lot in Turkey. We're not doing a lot in South Africa. But Mexico, you think about who the beneficiary for a world that's becoming more regionalized and who is the US's partner, Mexico is interesting. Brazil has done a pretty, you talk about central banks and has done a pretty good job. Brazil is a good place.”
“No. No, I mean, at the time, I remember when I came over and then soon thereafter, the firm bought BGI in the iShares business. But gosh, the thought that growing to the scale that we've grown into never would have even been a consideration.”
“Going to have to start raising your price returns, going to be negative. Stay as short as possible, hold as much cash as possible. And by the way, zero was a pretty good answer for your return in 2022.”
Masters in Business: “Rick Rieder on Fixed Income Investments”
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