Capital Allocators – Inside the Institutional Investment Industry Rick Rieder – BlackRock (Manager Meetings, EP.08)
Aug 26, 2021
Tim McCusker, Chief Investment Officer at NEPC, chats with Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, who oversees $2 trillion in assets. They explore unique investment philosophies and BlackRock's influential strategies, including the Strategic Opportunities Fund. Rick shares insights on balancing return-seeking with duration risk management for diverse clients. A personal journey from skepticism to success in finance highlights mentorship and effective leadership while touching on current economic concerns and growth opportunities.
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Early Investing
- Rick Rieder's interest in investing began with a lucky penny stock trade involving Suncoast Plastics.
- This early success sparked his curiosity and led him to pursue finance, despite his father's disapproval of trading.
Career Shift
- Rieder transitioned from financial analysis to trading after a suggestion from someone at E.F. Hutton.
- Despite his father's initial objections, he pursued trading, leading to a 35-year career, including a stint running a hedge fund before joining BlackRock.
Trading vs. Investing
- A pivotal trade early in Rieder's career taught him the importance of scaling in fixed income.
- It showed him that being right doesn't guarantee profits and that managing risk and avoiding concentration are crucial.
