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“3 Things You Need to Know + 1 You Don’t!”
The 3+1 Active Investors Series is BlackRock’s weekly investor video franchise, created to start your week with insights from the voices shaping markets. Featuring the firm’s leading active investors, each episode highlights three perspectives on what’s driving markets today.

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Episode 106: Rick Rieder & Special Guest Eli Manning

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Rick: Can I see Eli? Rock and Roll. Eli: Alright, alright. I’m Rick Rieder, Chief Investment Officer of Global Fixed Income at BlackRock. It’s the week of June 8th. Here are three things you need to know, and one you don’t, with my special guest Eli Manning.

Eli: I’m #1 look I made it.

First Up.

Rick: When we’re in the investment business we’re under pressure, stress. We prep for things, but then like the world changes.

Eli: These are situations you crave. Being down four points in a Super Bowl, two minutes left. The mindset is: Hey we prepared, we’re about to go be Super Bowl champions if we just do our job.

Number two.

Rick: Have you always been a natural leader? Look within our business you gotta rely on your team. You gotta trust in your team.

Eli: Sure. I think it's the same way in sports. I had to show them, hey I'm putting in the work. I'm the first one in, I'm the last one to leave. I’m gonna make mistakes, but I'm gonna learn from my mistakes. At that point, when you’ve proven that you've put in the work, you've put in the time, you can kinda start being a little bit more vocal.

Rick: We do the same, although sometimes we don't know how they’re gonna react.

Eli: Some you gotta sweet talk a little bit. Which brings us to.

Rick: I have signs all over my house that say, “work hard, play hard, give back, reboot.”

Eli: When I came to the Giants and came to New Jersey and New York, I used to visit the hospital a lot in New Jersey, Hackensack. And, you see kids ya know dealing with pediatric cancer. It's not enough just to visit. I wanna do something to get them healthy, get them back home, get them to be a kid again.

Rick: Ya know, for me it's been on kids’ lives, and particularly in urban settings, that don't get a fair shot. Ya know somebody who you know who has the talent, you know has the potential, and they just need a little bit of help along the way, and then watch them succeed.

And finally.

Rick: We had dinner one night and I noticed my phone wasn't next to me, because you changed the language of my phone into Chinese. I was actually trading and investing that night, and it was one of the most horrifying experiences.

Eli: That was early on. I've gotten a little bit smarter, there’s just some people you can’t mess with.

To get more 3+1 and stay up on everything you need to know, and some things you don’t… Make sure to follow us on LinkedIn & YouTube. We’ll see you next week.

3+1 Episode 6: Rick Rieder with Eli Manning

In this week’s episode of 3+1, Rick Rieder, BlackRock’s CIO of Global Fixed Income, is joined by two-time Super Bowl champion Eli Manning for a conversation about preparation, leadership and performing under pressure.

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Previous episodes

That’s great. Okay! I like this. This is fun.
Good morning, I'm Michael Gates. I manage the target allocation model portfolios at BlackRock. It's the week of June 1st. Here are three things you need to know. And one you don’t.
Number one.
We just completed Q1 earnings reporting in the US. The level of growth that we're seeing is extraordinarily strong. Over 16% earnings growth year on year for the S&P 500. We’re also seeing strong growth outside of the tech and AI complex, with a market cap weighted average of over 10%. When we look at the companies that are experiencing the best growth, many of them are adopting AI into their business model practices. We’re in the midst of an AI boom, and our view: the way to get exposed to that is a mixture of index and active.
Number two.
Geopolitical fragmentation and competition fully on display here, and national defense spending budgets reflect that. We’re investing alongside that theme in our portfolios by allocating to defense, aerospace and technology. The kinds of overweights we have in the portfolio tend to be higher beta. The way we’re managing risk here is by looking at the whole portfolio. So, in a multi asset setting, you can have conviction overweights to certain kinds of high octane stocks, while keeping your overall equity overweight more modest.
And finally.
We like the fact that commodity exposures can behave in ways that are uncorrelated to the traditional returns that we’re getting in other parts of the portfolio. We’ve selected to lean towards precious metals, such as gold, as a portfolio diversification theme. Global central banks outside the US have been increasing their allocations to gold. That’s been responsible for much of the price increase in the last several years, and we think that trend is set to continue.
And the one thing you don’t need to know.
The first time I heard Nevermind I was asking myself, what is this? Rock? Metal? Punk? Of course the answer was all of the above. My hot take? One of the best years in music was 1991. Two albums:
Nevermind by Nirvana, and Blue Lines by Massive Attack. Because everybody knows Mezzanine which is almost too good, but Blue-Lines is a brilliant fusion of super intelligent lyrics, reggae, and EDM.
Epic if you haven't heard it.
To get more 3+1 and stay up on everything you need to know, and some things you don’t… Make sure to
follow us on LinkedIn & YouTube. We’ll see you next week.

Video Playlist

That’s great. Okay! I like this. This is fun.
Good morning, I'm Michael Gates. I manage the target allocation model portfolios at BlackRock. It's the week of June 1st. Here are three things you need to know. And one you don’t.
Number one.
We just completed Q1 earnings reporting in the US. The level of growth that we're seeing is extraordinarily strong. Over 16% earnings growth year on year for the S&P 500. We’re also seeing strong growth outside of the tech and AI complex, with a market cap weighted average of over 10%. When we look at the companies that are experiencing the best growth, many of them are adopting AI into their business model practices. We’re in the midst of an AI boom, and our view: the way to get exposed to that is a mixture of index and active.
Number two.
Geopolitical fragmentation and competition fully on display here, and national defense spending budgets reflect that. We’re investing alongside that theme in our portfolios by allocating to defense, aerospace and technology. The kinds of overweights we have in the portfolio tend to be higher beta. The way we’re managing risk here is by looking at the whole portfolio. So, in a multi asset setting, you can have conviction overweights to certain kinds of high octane stocks, while keeping your overall equity overweight more modest.
And finally.
We like the fact that commodity exposures can behave in ways that are uncorrelated to the traditional returns that we’re getting in other parts of the portfolio. We’ve selected to lean towards precious metals, such as gold, as a portfolio diversification theme. Global central banks outside the US have been increasing their allocations to gold. That’s been responsible for much of the price increase in the last several years, and we think that trend is set to continue.
And the one thing you don’t need to know.
The first time I heard Nevermind I was asking myself, what is this? Rock? Metal? Punk? Of course the answer was all of the above. My hot take? One of the best years in music was 1991. Two albums:
Nevermind by Nirvana, and Blue Lines by Massive Attack. Because everybody knows Mezzanine which is almost too good, but Blue-Lines is a brilliant fusion of super intelligent lyrics, reggae, and EDM.
Epic if you haven't heard it.
To get more 3+1 and stay up on everything you need to know, and some things you don’t… Make sure to
follow us on LinkedIn & YouTube. We’ll see you next week.

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