The Bid

Innovation in the investment industry is a hot topic thanks to the rise of things like AI, shifting investor demand, and volatile markets that are requiring more agility from investors. Today we'll be exploring the innovations driving both the ETF Market and Index investing more broadly, examining the latest trends and challenges facing investors, and how technology is playing a role in shaping these products. Joining Oscar live in London at BlackRock’s annual UK Wealth Investors Forum is Manuela Sperandeo, Head of Product for iShares in EMEA and Stuart Doole, global head of Equity investing research at MSCI, an investment research firm that provides stock indexes, portfolio risk, and performance analytics.

Active equity investing isn't just about picking stocks, it's about making informed strategic decisions to beat the market or generate alpha. But what does that really mean for your portfolio, and how can you consider long-term investing strategies when faced with volatile markets?

The shift to a low-carbon economy will demand more capital than any of us have seen in our lifetimes—far more than private actors alone can provide. Public markets—the securities that make up the bulk of most investor portfolios available on stock exchanges—are set to play a much larger role in this transition. So, while private markets may have a head start, public markets are catching up quickly. In this special episode, Mark Wiedman, Head of BlackRock’s Global Client Business, will lead a conversation with BlackRock investors Evy Hambro, Olivia Markham, and Will Su about the transition opportunities they’re seeing in public markets—and what it will take to fully unlock their potential.

In this special bonus episode, we welcome you into BlackRock Headquarters in Hudson Yards for a Global Town hall where BlackRock Chairman and CEO Larry Fink welcomes Bayo Ogunlesi to celebrate the coming together of BlackRock and Global Infrastructure Partners. Larry and Bayo discuss the opportunities presented by their partnership, emphasizing the transformative potential in capital markets and AI.

As rates are going down, investors are reviewing their cash portfolios once again, considering how cash and cash equivalents typically react to monetary policy shifts and thinking about what to expect over the next 12 months. Beccy Milchem, global Head of Cash Distribution at BlackRock, will discuss the importance of actively managing cash regardless of the yield curve shape and shares her insights on the mantra of putting your cash to work and how this approach can benefit investors worldwide

Oscar is joined by Lacy Garcia, CEO and Founder of Willow, a wealth technology firm and Katie Cullen, Head of Business Consulting at BlackRock. Lacy leads her firm with a powerful mission to help next generation investors, most notably women and underrepresented groups, to achieve financial security. Lacy will discuss her motivations for starting Willow, the challenges she faced along the way, and her advice for budding entrepreneurs. Katie covers the current retirement landscape, how that pertains to diverse communities, and some practical considerations for anyone looking to plan their own financial future.

The game of tennis has captivated fans of all ages around the world, but what do match points and market trends have in common? Ronald Van Loon, Portfolio manager in BlackRock's fundamental fixed income team argues that there are a number of parallels between tennis and the investing tactics one must take to outperform the market. Ronald will help us explore the similarities and the differences that investors can take from this fast-paced game and how the mental game of tennis can also translate to investment strategies and beyond.

AI investing is a hot topic of conversation. But how should investors be considering both tech and AI in their portfolios - as part of the same allocation, or should they be separate? Jay Jacobs, US Head of Thematic and Active ETFs at BlackRock joins host Oscar Pulido to discuss whether investors should consider AI and tech as separate allocations, different investing approaches to AI and specific sectors to explore within the AI ecosystem.

AI is experiencing a transformative moment, powering the phenomenal run in public markets, but the investment opportunities certainly transcend that small group of names. So where are the most compelling opportunities and how can AI investment not only build wealth, but contribute to a more efficient future? Tony Kim, portfolio manager from BlackRock's Fundamental Equities team, joins Oscar to explore the evolving conversation around AI among industry leaders, rebut AI skepticism and examine the investment potential of quantum computing.

Economists around the world have been attributing the rise in costs of services and inflation in a number of countries to Taylor Swift’s worldwide Eras tour. However, Swift herself can't be held fully responsible for some of the shifts in consumer spending habits that are influencing the prices of goods and services. There are many other macro and micro forces at play in driving spending behavior and inflation trends around the world. Tom Becker and Kate Moore are senior investors at BlackRock with decades of global macro and thematic investing experience between them. They join Oscar to discuss the changes in consumer spending behavior, the future path of interest rates, and what signs investors should be on the lookout for in the latter half of 2024.

Investors have started to worry about tech companies spending big on artificial intelligence. Carolina Martinez Arevalo, Portfolio Strategist of the BlackRock Investment Institute, explains why we focus on the broader story and stay overweight the AI theme.

Artificial Intelligence has revolutionized industries and reshaped the way we live, work, and interact with technology. But before the age of self-driving cars, virtual assistants, and smart homes, there is a fascinating history of research, trials, and tribulations that laid the foundation for the AI-driven world we inhabit today. Oscar is joined by Jeff Shen, Co-CIO, and Co-head of Systematic Active Equity at BlackRock, to discover the history of AI’s investing booms and winters and what the current wave of AI investing has in store for investors

Over the summer, The Bid brings back some of the best episodes from this year. Kicking off the series, hosts Oscar and Stevie take a look back on Is Japan At An Inflection Point? Belinda Boa, Head of Active Investments for Asia Pacific at BlackRock joins Oscar to examine the prospects, challenges, and potential opportunities that may define Japan's future in the global investment sphere. Long regarded as an undervalued and overlooked market, Japan has been undergoing a profound transformation. The renewed interest in this market stems from a variety of factors— including revamped investor sentiment, evolving macroeconomic conditions and compelling corporate reforms. Will Japan be able live up to its potential and redefine its role on the global investment stage? Original episode aired: January 26th, 2024.

More central banks are starting to cut policy rates after their quick tightening during the pandemic. Natalie Gill, Portfolio Strategist at the BlackRock Investment Institute, explores why we think central banks will need to keep rates higher for longer and how that informs our bond and credit preferences

We see central bank policy expectations, equity factor rotations and currency moves driving the recent market volatility. Wei Li, Global Chief Investment Strategist at BlackRock, dives into these market drivers and explains how we navigate volatility by keying on corporate earnings and real economy investment opportunities.

Over the summer, The Bid brings back some of the best episodes from this year. Kicking off the series, hosts Oscar and Stevie take a look back on GenAI Through A COO Lens. Rob Goldstein, Chief Operating Officer of BlackRock, and Lance Braunstein, Head of Aladdin Engineering, share their optimistic perspectives on Gen AI and the evolution of technology over the past year. They discuss how AI is reshaping work patterns, empowering individuals through natural language interfaces, and revolutionizing client expectations. With a focus on talent development and the democratization of data, they envision a future where AI augments human capabilities, making organizations more efficient and individuals more adaptable. Original episode aired: February 9th, 2024

What are the principles of stoicism and how can they be applied to investing to build long term wealth? Darius Foroux, author of the newly published book "The Stoic Path to Wealth" brings a fresh perspective on how the time-tested wisdom of Stoicism can be applied to achieve financial success in today's volatile markets. As we dive into the intersection of ancient philosophy and modern wealth management, we’ll discover the ways in which Stoicism can offer a path to not just wealth, but also to a more fulfilling and tranquil life.

Vivek Paul, UK Chief Investment Strategist for the BlackRock Investment Institute joins host Oscar Pulido to discuss the rise of AI and its potential to deliver a productivity boom, the role of private markets in infrastructure, and how geopolitical dynamics are influencing investment strategies, and ultimately answer the question of how investors can position themselves in this unprecedented era of change.

In this special episode, we’ve asked some of our listeners to send in some questions about their retirement concerns. Here with me are retirement experts Anne Ackerley, Senior Advisor on Retirement and Liz Koehler, Head of US Wealth Advisor Engagement here at BlackRock. Together we’ll answer your questions about saving for retirement and give you some strategies to consider to help you become retirement ready.

Latin America is a region at the cusp of a transformative era as a region. It's become a hotbed of discussion for investors worldwide, as it undergoes a remarkable convergence of forces from a new era of high rates and macro risk to the rise of Nearshoring in Mexico and the demographic changes shaping retirement. Axel Christensen, Chief Investment strategist for Latin America for the BlackRock Investment Institute, will help us explore how the tectonic shifts in demographics and the strategic embrace of infrastructure spending are creating a mosaic of investment opportunities and what makes Latin America an epicenter of global change.

Infrastructure is experiencing a transformative moment, owing to the rise of remote work, the digital revolution, urbanization and a changing energy landscape driven by AI’s increasing demand for data centers. David Giordano, Global Head of BlackRock Climate Infrastructure, helps us explore the major structural forces driving this change, and examine the role of private capital in bridging the financing gap for new energy investments and how changes in supply chain strategies are influencing the infrastructure investment landscape.

India has recently become the world's most populous country overtaking China and is projected to become the world's third largest global economy by 2027. Gargi Pal Chaudhuri, Chief Investment and portfolio strategists for the Americas at BlackRock and Tara Iyer, Chief US macro strategist for the BlackRock Investment Institute join host Oscar Pulido to uncover the various factors that are driving India's growth and what hurdles may yet lie ahead for investors.

The world remains abuzz over artificial intelligence, but rapid advancement and adoption of the technology is poised to drive a significant increase in power demand, and this demand could redefine energy consumption as we know it. Today we ask the critical question: is the energy sector equipped for the AI power revolution? Will Su, of BlackRock's Fundamental Equities team, is one of BlackRock’s leading voices on all things energy. Will walks us through the sector’s pivotal role in the build-out and future of AI and digs into the potential investment opportunities and challenges.

American consumers, often seen as a bellwether for the global economy - have been largely resilient and healthy despite sticky inflation and higher interest rates. But, can this resilience continue as difficult market conditions persist? Lisa Yang, portfolio manager and co-head of the consumer industry “super group” within BlackRock Fundamental Equities, joins Oscar P to give a pulse check on consumer resilience and the implications in the equities market.

AI has powered stock market returns over the past year, but what are investors missing beyond AI? Carrie King, U.S. and Developed Markets CIO for BlackRock's Fundamental Equities Group, joins host Oscar Pulido to shine a light into forgotten corners of the US equity market to uncover what may be some underappreciated sources of return.

For more than a decade, Larry has written an annual letter not only to focus on critical long-term issues but also to start a conversation about finding solutions. This year, Larry Fink, CEO and Chairman of BlackRock is considering the challenge of retirement, why it has become an increasingly difficult proposition for too many, and what opportunities exist and will be developed to help people achieve their financial freedom.

You might not think of insurance as such a key input to their overall consumption basket, but the impact of the insurance industry is felt far beyond what individual consumers pay for individual policies and extends broadly throughout the supply chain as a necessary input for many industries in the production process. Mike Pensky, portfolio manager within BlackRock's Multi-Asset Group joins Oscar to help us understand the connection between insurance and inflation, the possibility for rising insurance premiums to persist, and how investors can position their portfolios in a new market regime.

Nicholas Fawcett, Senior Economist in the BlackRock Investment Institute and Peter Fisher, head of BlackRock's Global Retirement Initiative join Oscar to uncover the impact of this megaforce on global economies and the potential risks and opportunities investors should consider.

Bond yields are higher today than they were 20 years ago. With inflation indicators falling around the globe, the time of elevated cash rates may be drawn to a close. Investors are moving back into bonds in record numbers, with 2023 global bond ETF inflows totaling $333 billion. Yet, as global central banks appear at or near the end of a tightening cycle designed to quell the most significant surge in inflation in decades, investors could be moving even more quickly back into fixed income. Steve Laipply, Global co-head of iShares’ fixed income ETFs joins Oscar to help us understand what has been driving investors towards, or in some cases back, to the fixed income market and what investors should be looking for as central banks appear set to loosen their grip on interest rates.

In the ever-evolving tapestry of geopolitics and economics, the Asia-Pacific region stands at a pivotal juncture. In this special episode, we took The Bid down under to record this episode live in Sydney. Wei Li, Global Chief Investment Strategist for BlackRock joined Oscar Pulido to discus the intricacies of high inflation, emerging competing geopolitical bloc, how a momentous global election year will impact Asia-Pacific region and what opportunities investors can expect from the region.

Younger investors are looking at a future with aging populations and reduced labor forces and a new age of technology and connectivity that is impacting their values and expectations. On the other hand, pre-retirees now are having to consider that fact that their generation will live longer and what do they want to prioritize in their retirement years. So what do investors at different stages and ages need to consider when planning for their future, and how do those approaches differ?

Does inflation impact women differently, are women more risk averse investors than their counterparts and what are some ways in which women can become better investors? Oscar Pulido, welcomes Anne Ackerley, head of BlackRock's Retirement Group, and Gargi Pal Chaudhuri, head of iShares Investment Strategy and Markets Coverage at BlackRock, to discuss the unique challenges women face when investing for the future and how their improving prospects can benefit the wider economy.

In this episode, host Oscar Pulido speaks with Dr. Mary Murphy, social psychologist at Stanford and Indiana Universities, and author of the forthcoming book Cultures of Growth, about the importance of fostering a culture of growth within organizations. Dr. Murphy discusses how a growth mindset can drive innovation, resilience, and adaptability, and shares insights on how leaders and investors can cultivate a growth-oriented culture.

In honor of Black History month, host Oscar Pulido sits down with the founders of Earn Your Leisure, Troy Millings and Rashad Bilal, to discover how this dynamic duo is revolutionizing the financial literacy landscape. Breaking down the importance of a hands-on learning experience, Troy and Rashad share their journey of transforming financial education through their multimedia business platform making it entertaining and relatable to all.

The investment landscape surrounding the low carbon transition is poised for change and opportunity. Oscar Pulido explores the brown-to-green transition and the role of mining materials in the transition to a low carbon economy. Joined by Olivia Markham, a portfolio manager from BlackRock's Fundamental Equity Team, together they discuss the changes in the global economy, companies' approach to reducing carbon emissions, and the investment opportunities in the low carbon transition. Sources: IEA March 2023; World Resources Institute October 2023, BHP and FE analysis, Sept. 2023; BHP analysis, August 2023; Brown to Green Materials Whitepaper, BlackRock Sept 2023; New Energy Outlook 2022, Bloomberg NEF 2022; Tracking The Low Carbon Transition, BlackRock, July 2023 This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. In the UK and Non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures go to Blackrock.com/corporate/compliance/bid-disclosures See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Join host Oscar Pulido as he explores the transformative power of AI and its impact on the financial services industry. Rob Goldstein, Chief Operating Officer of BlackRock, and Lance Braunstein, Head of Aladdin Engineering, share their optimistic perspectives on Gen AI and the evolution of technology over the past year. They discuss how AI is reshaping work patterns, empowering individuals through natural language interfaces, and revolutionizing client expectations. Discover how AI can be harnessed at the industry level to enhance productivity, leverage data, and drive better investment outcomes, while still emphasizing the crucial role of human supervision. With a focus on talent development and the democratization of data, they envision a future where AI augments human capabilities, making organizations more efficient and individuals more adaptable.

In the ever-evolving landscape of geopolitics, the world finds itself at a pivotal juncture marked by structural shifts that redefine global dynamics. The emergence of competing economic and geopolitical blocs stands out as a prominent feature reshaping alliances and influencing international relations. Catherine Kress, head of Geopolitical Research and Strategy at BlackRock, joins Oscar to explore the macro and investment dimensions of this megaforce, the complex interplay of geopolitics and global markets and provide insights for investors navigating this new era.

Long regarded as an undervalued and overlooked market, Japan has been undergoing a profound transformation. The renewed interest in this market stems from a variety of factors— including revamped investor sentiment, evolving macroeconomic conditions and compelling corporate reforms. Will Japan be able live up to its potential and redefine its role on the global investment stage? Belinda Boa, Head of Active Investments for Asia Pacific at BlackRock joins Oscar to examine the prospects, challenges, and potential opportunities that may define Japan's future in the global investment sphere.

In this episode of The Bid, host Oscar Pulido delves into the world of cryptocurrencies, exploring their impact on the financial landscape and the potential they hold for investors. Joined by Robbie Mitchnick, head of Digital Assets at BlackRock, and Samara Cohen, Chief Investment Officer of the ETF and Index Investments business at BlackRock, they decode the terminology and concepts surrounding cryptocurrencies, such as digital assets, blockchain, and bitcoin. They discuss the significance of digital assets in modernizing the financial system, the challenges and advantages they offer to adopters and, potentially, investors, and the convergence of traditional investments and crypto. They also touch on the regulatory landscape and advancements in the digital asset space that investors should be mindful of.

As we begin a new year, what knowledge will help investors prepare for potential volatility on the one hand and potential for opportunities on the other? Jeff Spiegel, U.S. Head of Thematics, Sector, and International ETFs joins host Oscar Pulido to provide a holistic overview of major investment themes, the emergence of the AI trade, opportunities in medical innovation, and the impact of geopolitical shifts on globalization to help investors navigate the year ahead.

In 2023, global equity markets experienced a notable surge, driven by resilient economic growth and increased investor confidence, setting an optimistic tone for the forthcoming year. In particular, U.S. equity performance surprised investors, but with higher rates and inflation, coupled with rising geopolitical tensions, still top-of-mind, can the solid performance continue and how might these impact markets in 2024? Joining host Oscar Pulido is BlackRock's Global CIO of Fundamental Equities, Tony DeSpirito. Tony will break down the headlines and provide his stock picks for 2024.

In this episode, we’ll be taking a lookback on 2023 year with a special Holiday Quiz edition of The Bid. Our contestants are Oscar Pulido, your regular Bid host with the most and ETF expert and Bid regular, Gargi Pal Chaudhuri. Oscar and Gargi will play for bragging rights and the esteemed title of The Bid Quiz Winner in our inaugural Holiday Quiz. Get ready to play along...

2023 has seen high volatility across global markets driven by high interest rates, bank failures and a surge in bond yields. So, after a tumultuous 2023, what can investors expect in 2024? Alex Brazier, Deputy Head of The BlackRock Investment Institute, joins host Oscar Pulido to discuss the Outlook for 2024. Alex will help us understand the structural shift to a new macro regime and explain how investors can consider the 5 mega forces that the BlackRock Investment Institute sees as being the key drivers of the new regime.

The low-carbon transition is one of five mega forces, or structural shifts, we track for investment risks and opportunities. Christopher Weber, Head of Climate Research at the BlackRock Investment Institute, shares three investment themes we’re following at this year’s UN climate conference (COP28). This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast. In the U.S. and Canada, this material is intended for public distribution. In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock. In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded. For Investors in Switzerland: This document is marketing material. In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288. In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL’s Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdiction In Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx ©2023 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners. BIIM1223U/M-3262100 See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We refresh our strategic views. We up developed market (DM) sovereign bonds to neutral yet stay underweight long-term bonds. We trim DM stocks to neutral. Vivek Paul, Global Head of Portfolio Research shares our Market take.

The transition to a low-carbon economy has emerged as a key player in the 5 mega forces that the BlackRock Investment Institute have been outlining for us in recent episodes. But what exactly does it mean to "invest in the transition to a low-carbon economy", how are investors seizing this opportunity, and why is this transition seen as a "mega force" for investors? Helen Lees-Jones, Head of EMEA Corporate Strategy and Co-Head of the EMEA Sustainable & Transition Solutions group at BlackRock will reveal the top questions investors are asking about the low carbon transition and explain the driving factors.

We see volatility as a constant in the new regime. Wei Li, BlackRock Global Chief Investment Strategist, explains why we’re neutral long-term U.S. Treasuries.

In a world filled with financial uncertainties and rapidly changing economic landscapes, one thing remains clear. Emerging markets are becoming increasingly pivotal in shaping the global investment landscape. Jeff Spiegel, US head of BlackRock, megatrend International and Sector ETFs joins host Oscar Pulido to delve into specific global trends that are paving the way for emerging markets, including the intriguing concepts of supply chain rewiring, and demographic population shifts.

Electric vehicles, or EVs, have been hailed as the future of transportation. They promise cleaner air, reduced dependence on fossil fuels, and a seismic shift in how we commute. But as we navigate this high-speed journey towards an electric future, there are certainly some speed bumps ahead, whether it's concerns about range anxiety, the availability of charging infrastructure, or simply the price tag of EVs. Charlie Lilford, Portfolio Manager for BlackRock's Fundamental Equities business, joins host Oscar Pulido to talk about the rate of adoption of electric vehicles across the world. and where he sees the most exciting investment opportunities.

The face of finance has evolved considerably of late. From changing financial architecture and payment applications through to regulatory developments and the impact of AI, all of which have major implications for banking’s business models. Alex Brazier, Deputy Head of the BlackRock Investment Institute joins host Oscar Pulido, to talk about the first of these big megaforces, the future of finance. Alex will explain what this big shift will entail for banks, companies and investors as we grapple with a changing economy and structural changes.

In periods of volatility, investors can often be short sighted when considering the outlook ahead. But your retirement is a journey that's not only personal, but also profoundly influenced by external factors. Anne Ackerley, head of BlackRock's Retirement Group joins host Oscar Pulido to help us consider the current market conditions from a retirement lens and explains the five major forces that are shaping the retirement outlook.

In Part 2 of our deep dive into AI, Brad Betts, former NASA scientist, Stanford Professor and global equity researcher for BlackRock Systematic, joins Oscar to help us understand what AI means for investing and the opportunities that lie ahead for the investing landscape.

Artificial Intelligence has revolutionized industries and reshaped the way we live, work, and interact with technology. But before the age of self-driving cars, virtual assistants, and smart homes, there is a fascinating history of research, trials, and tribulations that laid the foundation for the AI-driven world we inhabit today that we’ll discover in the first episode our two-part deep dive into AI. Today’s guest is Jeff Shen, Co-CIO, and Co-head of Systematic Active Equity at BlackRock, an investment team that emphasizes the use of data-driven insights and cutting-edge technology in their approach.

A combination of public and private investments in neuroscience, government grants, and charitable donations are helping accelerate a wave of advancements and opportunities in the field of neuroscience. Recent clinical trial success for the second significant, disease-modifying drug to treat Alzheimer’s is a critical milestone and a positive sign for the future of neuroscience. So, what does this mean for the healthcare investment landscape? Jeff Spiegel, US Head of BlackRock Megatrend, International and Sector ETFs across index and active strategies talks about these latest breakthroughs in neuroscience and why it demands a closer look when considering healthcare opportunities in your portfolio.

Private debt, private credit, direct lending. Why are these asset classes capturing investors' imaginations around the world? Are they a viable option for individual investors or restricted only to the large institutional investors? Jimmy Keenan, Chief Investment Officer and global head of Private Debt for BlackRock joins Oscar to do a deep dive into the enigmatic world of private debt, ask why it's having a resurgence in these particular market conditions and explore the risks and opportunities that are inherent from this alternative asset class.

In an era of economic challenges and uncertainties, having an emergency savings fund is a financial lifeline that can provide peace of mind during turbulent times. Yet, statistics reveal a startling reality: 66% of the US population lacks adequate savings to weather unexpected storms and live paycheck to paycheck. And this problem is not limited to the US and it seems to only be getting worse. Is there light at the end of the tunnel? Claire Chamberlain, Global Head of Social Impact at BlackRock, joins The Bid to discuss what factors are exacerbating the problem and how it can be solved.

When big events happen in the markets, or even in history, analysts, economists and journalists set out to discover what led to those events, often working backwards, organizing a chain of events into a logical timeline. But on the flip side, accurate forecasting is a far harder skill to master, and Professor Peter Atwater, behavioral economics pioneer, suggests that the same deciding factors we see so easily in hindsight could in fact be easier to see in the present if only we looked through the right lens.

We finish The Bid’s best of summer series with a look back on the market events from March that were sparked by regional bank failings in the U.S. that led the markets to volatility. Alex Brazier joined Oscar to discuss why these events were unlikely going to lead to a breakdown of the global banking system. Episode originally published March 17th 2023

Continuing the best of summer series, Bid host Oscar and producer Stevie take a look at the art of negotiation, featuring Professor Alex Carter, of Columbia Law School who examines, why negotiation skills are key to any career, and one thing you can do to start advocating for yourself. Episode originally published March 10th 2023

Continuing the best of summer series, Bid host Oscar and producer Stevie take a look at Oscar’s first pick of favorite episodes from this year, finding out how the climate can impact investing and how everything on the earth’s surface can act as a data point to inform investing decisions. Active investment analysts Joshua Kazdin and Mike Pensky, join Oscar to discuss developing BlackRock's geospatial investment capability and bringing these insights into active portfolios. Sources: World Economic Forum 2023

We see the Federal Reserve holding policy tight after hiking again this week. Jean Boivin, Head of the BlackRock Investment Institute, addresses an apparent disconnect: How can inflation appear to be falling quickly back to 2%, and the U.S. economy be stronger than expected at the same time?

Axel Christensen, Chief Investment Strategist for Latin America, shares why we still prefer emerging market assets over developed market peers by applying our new investment playbook.

Over the summer, The Bid brings back some of the best episodes from this year. Kicking off the series, hosts Oscar and Stevie take a look back on the Metaverse discussion with Magic Leap CEO Peggy Johnson, what made Stevie reminisce about their favorite childhood movie, and how Oscar considers the new future of work in training employees. The Metaverse has evolved from a virtual gaming space to something that now encompasses a much broader range of applications, including commerce, education, socializing, and entertainment. Peggy Johnson, CEO of Augmented Reality Company, Magic Leap provides insights on how mixed reality and artificial intelligence will shape the metaverse and the challenges and opportunities that arise from this technology. Original episode aired: February 10th, 2023

Wei Li, BlackRock Global Chief Investment Strategist, explains why we see a key divergence in corporate earnings forecasts for the rest of the year. We get granular and favor sectors like healthcare within developed market stocks.

As we look ahead to the second half of 2023, what are the emerging trends investors should be watching and what opportunities might these factors present? Alex Brazier, Deputy Head of the BlackRock Investment Institute helps us look ahead to the rest of the year.

According to a 2021 UN-backed report, the world’s food systems account for approximately one-third of human-caused emissions.2 Mark Schneider, CEO of Nestle, the world’s largest food and beverage company1, joins The Bid to discuss how food – from the farm to the fork to the compost bin – plays a role in the transition to a low-carbon economy.

As an asset class, gold is having a standout moment in 2023 and Gargi Pal Chaudhuri, iShares Chief Investment Strategist, joins host Oscar Pulido to discuss what factors are playing into its moment to shine.

In a world where traditional investments are subject to market volatility and economic uncertainties, cash has emerged as an asset class that demands another look. Beccy Milchem, Head of International Cash Management at BlackRock, joins The Bid discuss the top 3 things investors should consider when it comes to cash in uncertain market conditions.

In this special episode of The Bid, BlackRock Product Strategist Oscar Pulido and Alex Brazier, Deputy Head of The BlackRock Investment Institute, take a look at what happened with the debt ceiling showdown, how markets are reacting, and what investors can expect going forward now that the potential default is behind us

As inflation remains high in many developed markets, emerging market central banks were quicker to hike interest rates coming out of the pandemic that helped to steady their economies. What opportunities and risks could we see from emerging markets as the rest of the year plays out? Emily Fletcher, a fundamental equities portfolio manager at BlackRock, highlights some of the risks and opportunities that Emerging Markets present.

So far, the world of investing in 2023 is proving to be very different from 2022. In early May, the Fed raised interest rates above 5% for the first time since 2007. Investors are asking questions about whether rates will stop rising and if inflation has reached its peak. Gargi Chaudhuri, Head of iShares Investment Strategy joins host Oscar Pulido to provide her 3P’s of investing for these volatile markets. Sources: Bloomberg, as of May 10, 2023, based on the latest CPI print; Bloomberg, as of May 10, 2023. U.S. treasury represented by the Bloomberg U.S. Treasury index. High quality credit represented by the Bloomberg Global Aggregate Corporate index.

Over the past 14 years, India has undergone a digital transformation that has caught the attention of the world: It has built a digital identity system that has created unique IDs for over a billion Indian people and launched a digital payment system that has revolutionized consumers’ access to financial services and healthcare. Host Mark Wiedman is joined by Nandan Nilekani, Co-founder and Chairman of Infosys to talk about how the country is building a digital public infrastructure that brings new economic growth for society

The rise of the internet and social media has heralded in a new age of information, but also of misinformation. Trust is a critical factor that influences consumer behavior and can make or break a company's reputation and bottom line. So how can businesses and brands drown out the noise and protect their reputations and why does it matter to investors? Lex Suvanto, CEO of Edelman Smithfield, a specialized financial communications boutique joins Alex Craddock, CMO of BlackRock to uncover the future of unlocking brand trust. Note: This episode was recorded live in front of an audience in Miami, a key financial center for Latin American investors. Sources: Edelman’s Brand Trust Barometer 2023

Geospatial data has the potential to revolutionize investment decision-making by providing investors with insights into the spatial dynamics of different markets and assets. Host Oscar Pulido is joined by active investment analysts Joshua Kazdin and Mike Pensky, who have been developing BlackRock's geospatial investment capability and bringing these insights into our active portfolios. Sources: World Economic Forum 2023

The digital transformation has been accelerating since the pandemic began in 2020, from fully remote to hybrid, working to the digitization of products and services. Efforts are underway to integrate digital technology into all areas of business, fundamentally changing how businesses operate and deliver value to customers. To help guide us through this transformation Oscar is joined by Cristiano Amon, President and CEO of Qualcomm, a firm that has helped develop technologies that make the smartphone in your pocket, the computer that it is today, and that is now taking those same technologies and putting them into everything else from the auto industry to the Metaverse. Sources: World Economic Forum GDP estimates

Recent events in the banking sector around SVB and Credit Suisse have made clear the importance of staying nimble as investors. The old investment playbook is out and a new regime that considers high inflation and interest rates is in. Wei Li, BlackRock’s Global Chief Investment Strategist joins host Oscar Pulido to explain what investors can expect in the next quarter.

In the final part of the Women’s History Month mini-series, Dr Lucy Marcil speaks with Anne Ackerley, Head of BlackRock's Retirement Group, about her life’s work is to bring affordable healthcare to families who require pediatric care and receive help with financial services and education.

In part 3 of the mini-series during Women’s History Month, Keri Mandell, CEO and founder of emPOWER Yoga and competitive athlete, talks to Carrie King, Global Deputy CIO within BlackRock's Fundamental Equities Business, about the power of mindset in her career journey as a business owner and ultra-athlete.

In an effort to bring calm to financial markets and some stability to the banking sector, UBS announced it would be acquiring Credit Suisse, a merger of two of Switzerland’s largest financial institutions. The merger has brought some near-term stability to financial markets; however, U.S. and European banking shares remain under pressure as investors assess the impact of the fastest rate hiking campaign since the 1980’s. Kate Moore, Head of Thematic Strategy and part of BlackRock’s Global Allocation investment team joins host Oscar Pulido, to help explain these developments. Sources: NYT article Feb 9th, 2023 “Credit Suisse Reports Huge Loss as It Seeks to Revive Fortunes”; Investment Week Article March 21st “Ratings agencies cut UBS outlook to 'negative' after Credit Suisse takeover

As central banks have been trying to control inflation with the fastest rate hikes since the early 1980s, we've begun to see some cracks in the financial system. Most notably the recent collapse of two US regional banks, Silicon Valley Bank and Signature Bank, and the evolving situation around Credit Suite's liquidity position. Alex Brazier, Deputy Head of the BlackRock Investment Institute is here to tell us why this banking crisis is different from 2008 and what investors can expect to see from central banks in an effort to control inflation and protect the financial industry.

In part 2 of the mini-series during Women’s History Month, Alexandra Carter, a clinical professor of law at Columbia Law School and Wall Street Journal best-selling author, talks to Nirmitee Shah, US Head of Insurance about why negotiation skills are key to any career, and one thing you can do to start advocating for yourself.

During Women’s History Month, The Bid teams up with BlackRock’s Samara Cohen, Chief Investment Officer of ETF and Index Investments for a 4 episode mini-series about progress and purpose featuring senior female leaders in the world of finance and beyond. Best-selling author, academic speaker, and leadership advisor Annie McKee joins Samara Cohen leading off the series to discuss her own purpose of developing better leaders that will help transition companies, and their workforces towards supportive cultures, and healthier bottom lines.

The pace of technological change has taken a giant leap forward and created opportunities for investors. ChatGPT has been compared to the invention of the internet, robots are being introduced to workforce. And agricultural technology is being more widely implemented to try to solve for a growing global population. Jeff Spiegel, US Head of BlackRock, Megatrend International and Sector ETFs, will help us decode some of these new technologies and better understand the impact on both our lives and our portfolios.

Want to know what's happening in the markets? On The Bid, a podcast from BlackRock, we breakdown the world of investing. From stock market outlooks and megatrends, to geopolitics and technology. BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

The Metaverse has evolved from a virtual gaming space to something that now encompasses a much broader range of applications, including commerce, education, socializing, and entertainment. Peggy Johnson, CEO of Augmented Reality Company, Magic Leap provides insights on how mixed reality and artificial intelligence will shape the metaverse and the challenges and opportunities that arise from this technology.

Tom Donilon, Chairman of the BlackRock Investment Institute and former National Security Advisor to President Barack Obama returns to this special post-Davos edition of The Bid to provide his take on the geopolitical issues that are shaping the global investment landscape in 2023.

As investors have said a relieved goodbye to 2022, where we saw high inflation, market volatility, supply chain shocks, labor market shifts, and interest rate hikes, what can stock pickers look forward to in 2023? To help us answer that question, host Oscar Pulido welcomes back a Bid regular, BlackRock's CIO of US Fundamental Equities, Tony DiSpirito.

In the final episode of our 3 part retirement mini-series, Gargi Chaudhuri, Head of iShares Investment Strategy and Markets Coverage, sits down for a fireside chat at the BlackRock Retirement Savings Summit to give her views on how the markets might be shaping up for 2023 and what retirement investors should be considering right now.

In part 2 of our 3-part retirement mini-series, Anne Ackerley, Head of BlackRock’s Retirement Group moderates a live panel at the recent BlackRock Retirement Savings Summit, speaking to three leaders who are actively working to bridge the gender and race gap with regard to retirement savings.

How confident are you feeling about your own retirement? In part one of a three-part Retirement mini-series, Anne Ackerley, BlackRock’s Head of Retirement joins Stephanie Linker, Head of BlackRock’s Retirement Marketing to discuss some of the challenges facing retirement investors today.

Maersk CEO Soren Skou sits down with host Mark Wiedman to talk about how the global shipping giant is leading the shipping industry’s transition to net zero by bringing down their scope 3 emissions and making their ships greener and more efficient.

Did you know that construction, buildings, are responsible for nearly 40% of global CO2 emissions? That includes the emissions that come from processing the raw materials, think cement, think steel, and, even bigger, the emissions that come from operating and powering those buildings during their whole lifetime. Jan Jenisch, CEO of Holcim, a global leader in building materials, sat down with host Mark Wiedman at Holcim’s green cement plant in Switzerland to talk about the company’s plans to build greener by creating more sustainable building materials, recycling materials to build more new from the old and how they're increasing building efficiency. Source: “Why the built environment” Architecture 2030.org, 2022 Source: https://www.holcim.com/what-we-do/ready-mix-concrete/ecopact-green-concrete

In 2022, the economy experienced volatile and decelerating growth as well as high inflation, leading economists to believe that economic soft landings are unlikely as central banks are set to over tighten policy. So what does 2023 have in store for investors? Wei Li, BlackRock’s Global Chief Investment Strategist, and Vivek Paul Head of Portfolio Research join Oscar Pulido to look ahead to the key themes for 2023. Sources referenced: Inflation CPI October, Statistica

Funding new drug development is challenging. Trials are expensive, complex, and lengthy, and only a fraction of the therapeutics that go into clinical trials will ever come out the other side approved. Sarah Shores welcomes Dr. Andrew Lo, economist, professor at MIT and co-founder of QLS Advisors, a Quantitative Life Sciences Company working to accelerate the pace of change in biomedicine.

What does the road to low-carbon trucking look like? Volvo Group CEO Martin Lundstedt joins host Mark Wiedman to talk about how the company is helping transform the future of transport with their fully electric heavy-duty trucks and why “partnership is the new leadership” to get the sector to reach its net zero goals.

Gas supplies from Russia have been significant;y reduced due to the war in Ukraine. OPEC has announced oil production cuts and both Europe and the U.S. have stubbornly high inflation that central banks are trying to control. With winter fast approaching, what impact will that have on the economies globally and when will it ease? Gargi Chaudhuri, Head of iShares Investment Strategy and Alex Brazier, Deputy Head of BlackRock Investment Institute join host Oscar Pulido to figure it out.

2022 has been a year to forget as far as investing goes, and in this episode of The Bid, host Will Su brings together two investors from different generations to examine the factors shaping the outlook for the U.S. stock market from their different vantage points and experience. Joining Will are Tony DeSpirito, CIO of U.S. Fundamental Equities, and Caroline Bottinelli, Co-Portfolio Manager from our U.S. Growth team.

How can carbon capture transform the oil and gas industry? On this episode of “The real leaders of net zero,” CEO and President of Occidental Petroleum Vicki Hollub joins guest host, Mark McCombe, Chief Client Officer at BlackRock, to talk about the oil and gas company’s net zero strategy and its commitment to be net zero by 2040 and the important role carbon management could play in achieving these goals.

The U.S. labor force has shrunk and not recovered since the start of the pandemic, and there are more jobs available than can be filled, so how is that affecting the economies current inflation woes? Jean Boivin, Head of the Blackrock Investment Institute joins host Oscar Pulido to connect the dots.