The Bid

Retirement planning is becoming more complex as careers grow less linear, lifespans extend, and financial decisions start earlier in life. From early-career savers to small business owners and those approaching retirement, people are asking how to build financial security while staying flexible in an unpredictable world.
In this Ask Me Anything episode of The Bid, host Oscar Pulido is joined by Jaime Magyera, Head of BlackRock’s U.S. Wealth Advisory and Retirement Businesses, to answer listener-submitted questions on retirement realities. Jaime shares perspectives drawn from her work with individual savers, financial advisors, and small business owners across the country.
The conversation reframes retirement as the freedom to choose what comes next, rather than a fixed end point. Jaime discusses the importance of starting early, maintaining discipline through market cycles, and building plans that can adapt as careers, families, and goals evolve. The episode also explores the role of professional advice, the challenges facing non-traditional career paths, and why preparation — not prediction — is central to long-term financial resilience.
Key insights include:
• Why retirement is best viewed as a transition, not a destination
• How starting early and staying invested can shape long-term outcomes
• Why flexible planning matters for non-linear careers and families
• What advisors should consider when working with small business owners
• How professional advice differs from social and digital guidance
• Why preparedness and emergency savings support financial resilience

Key moments in this episode:
00:00 Introduction to The Bid
00:50 Meet Jamie Magyera: Insights on Retirement Planning
01:48 Transitioning into Retirement: Key Considerations
04:05 Financial Planning for Younger Generations
06:41 Non-Traditional Retirement Timelines
09:56 Advisors and Small Business Owners: Planning for the Future
12:45 How To Build Long-Term Client Relationships
15:33 The Value of Professional Financial Advice
17:28 Conclusion and Key Takeaways
18:16 Closing Remarks and Up Next
retirement planning, financial security, wealth planning, capital markets, long-term investing,
Sources: BlackRock’s Read On Retirement Survey, September 2025
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. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. 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, visit 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.

Hedge fund strategies are gaining renewed attention as market volatility rises and traditional stock and bond diversification becomes less reliable. With inflation uncertainty, shifting monetary policy, and growing macro instability, investors are reassessing how different sources of return and risk management show up across capital markets.
In this episode of The Bid, host Oscar Pulido speaks with Mike Pyle, Deputy Head of BlackRock’s Portfolio Management Group, about how hedge fund strategies work and why they are being re-examined in today’s environment. Mike explains what defines hedge fund strategies, how their flexibility seeks to allow managers to express views more precisely, and why they can play different roles within portfolios depending on investor objectives.
They explore common misconceptions around hedge fund strategies, including the idea that they are inherently high risk or designed solely to outperform equities. Mike outlines how these strategies span a wide range of risk profiles and can be used for diversification due to their potentially lower correlation to traditional assets. The conversation also examines why macro volatility since 2021 has created a more favorable backdrop for hedge fund strategies, and how their ability to either navigate or reduce macro exposure is shaping investor interest.
Key moments in this episode:
00:00 Introduction: Navigating Uncertainty in Today's Market
03:57 Debunking Myths About Hedge Funds
07:36 The Growing Interest in Hedge Funds Strategies
12:18 Hedge Funds vs. Other Alternatives
16:31 Evolution of the Hedge Fund Industry
18:28 Key Takeaways for Investors
19:41 Conclusion and Next Up
Key insights include:
• What hedge fund strategies are and how they differ from traditional investments
• Why lower correlation, not market outperformance, is often the core objective
• How higher volatility and macro uncertainty are reshaping portfolio construction
• How hedge fund strategies compare with other alternatives like private markets and infrastructure
• Why scale and multi-strategy platforms are changing the hedge fund landscape
hedge fund strategies, capital markets, portfolio diversification, alternatives investing, market volatility, megaforces
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. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. 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, visit 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.

Global markets are entering 2026 amid heightened geopolitical uncertainty, structural shifts in the global order, and rapid technological change. Recorded live from the World Economic Forum in Davos, this episode of The Bid examines the macroeconomic and geopolitical forces shaping the year ahead.
Host Oscar Pulido is joined by Philipp Hildebrand, Vice Chairman of BlackRock, and Tom Donilon, Vice Chairman of BlackRock and Chairman of the BlackRock Investment Institute. Drawing on conversations with political leaders, policymakers, and business executives in Davos, they reflect on an evolving geopolitical landscape and its implications for markets, governments, and global cooperation.
The discussion explores how shifts in U.S. policy are reshaping alliances — particularly between the United States and Europe — and why this period may mark a broader transition away from the post–World War II global framework. Philipp outlines the pressures facing Europe, while Tom examines how national security considerations are increasingly shaping economic policy, trade, and global investment flows.
Artificial intelligence emerges as a central theme, viewed both as an economic driver and a geopolitical force. The episode considers AI’s role in national security competition, the growing importance of data centers and energy infrastructure, and how concerns around sovereignty, critical minerals, and societal impact are elevating AI from a technological issue to a political one.
Key insights
· How current geopolitical developments are reshaping the global outlook entering 2026
· Why Davos remains a key forum for understanding policy and market sentiment
· Where Europe’s macroeconomic challenges and opportunities are most pronounced
· How AI is increasingly intersecting with geopolitics and national security
· What recent U.S.–Europe tensions reveal about future global cooperation
· How investors and policymakers are interpreting uncertainty in today’s environment

Geopolitics, global macro outlook, Europe economy, World Economic Forum Davos, AI and geopolitics, global markets, policy uncertainty
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. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. 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, visit 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.

AI investment, evolving earnings leadership, and shifting global dynamics are redefining stock market trends as investors enter 2026. Companies are deploying unprecedented capital toward data centers, compute, and productivity-enhancing technologies, while rate cuts and supply-chain realignment reshape the macro backdrop. These forces are changing how fundamentals, valuations, and sector growth patterns show up in equity markets.
In this episode of The Bid, host Oscar Pulido speaks with Carrie King, Global CIO of BlackRock’s Fundamental Equities group, about the major drivers influencing the 2026 equity outlook. Carrie breaks down why high-level valuations may mask improved corporate quality, how AI-related investment is broadening beyond semiconductors, and why the gap between megacap earnings and the rest of the market may begin to narrow.
They also explore how global monetary easing is benefiting emerging markets, why Japan’s structural reforms continue to support its equity story, and how diversification is becoming more challenging in a market shaped by a few powerful megaforces. Carrie explains what this means for sector positioning, volatility, and where long-term investors may find underappreciated opportunities.
Key moments in this episode:
00:00 Introduction: Can Stocks Maintain Momentum in 2026?
03:29 AI's Dominance in the Market
09:34 Global Investment Trends and Opportunities
12:06 Earnings Growth and Sector Performance
15:36 Diversification Strategies for Investors
17:10 New Year's Resolutions for Investors
18:59 Conclusion and Upcoming Episodes

Key insights include:
· How AI-driven spending is reshaping earnings patterns and stock market trends
· Why equity valuations may be better anchored than headlines suggest
· Where the “other 493” may see accelerating earnings growth
· How global rate cuts and supply-chain shifts are supporting EM and Japan
· Why diversification requires new approaches in a megaforce-driven market
· Which sectors—industrials, travel, and healthcare—may offer overlooked potential
stock market trends, AI investing, megaforces, capital markets, equity markets, global investing, sector rotation
Sources:
Written Disclosures In Episode Description:
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. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. 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, visit 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.

This week, the focus is on diversification—and why it’s getting harder to achieve. Portfolio Strategist Natalie Gill explains how the “diversification mirage,” a key theme in BII’s 2026 outlook, is now showing up in real time. A small set of megaforces is increasingly dictating equity performance, meaning traditional attempts to diversify—whether toward equal-weighted indices or new regions—can amount to larger active positions than many investors realize.
Natalie also breaks down how rising developed-market bond yields challenge the long-held assumption that long-term bonds reliably balance portfolios. Fiscal strains, shifting central bank stances, and policy divergence between the U.S. and other economies further complicate the diversification picture. As bond volatility rises and a small number of equity drivers dominate returns, investors may need to reconsider how and where true diversification can be found.
The episode also highlights the growing disconnect between the Federal Reserve’s policy posture and the more hawkish tone across Australia, Canada, and Japan—where fiscal dynamics and reopening risks are influencing long-term rates. These divergences, paired with delayed U.S. labor data and inflation considerations, shape the macro backdrop as markets enter the new year.
Key Insights
· Diversification is increasingly difficult as a handful of megaforces drive global equity performance.
· Traditional diversifiers—such as long-term government bonds—provide less balance amid rising yields.
· Policy divergence between the U.S. and other major central banks is creating new cross-market risks.
· Fiscal concerns are influencing yield curves, particularly in Japan and the UK.
· Portfolios may require more deliberate, active decisions and alternative sources of return to achieve true diversification.

diversification, megaforces, capital markets, macro trends, bond yields, portfolio balance, market outlook
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. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. 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, visit 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.