The Bid

Asia has often been viewed as a long-term growth story, but its role in global markets is becoming more immediate. The region now represents a significant share of global GDP and listed companies, while operating across distinct economic and policy cycles.
In this episode of The Bid, Oscar Pulido speaks with Aarti Angara, Head of Global Product Solutions in Asia Pacific at BlackRock. They examine why Asia is gaining more attention from investors and how opportunities are developing across equities and fixed income.
The conversation highlights the region’s diversity across countries, sectors, and growth drivers. It also explores themes such as AI-related manufacturing, domestic consumption in emerging markets, Japan’s shift in corporate behavior, and the role of Asian bond markets in diversification
Key moments in this episode:
00:00 Introduction
02:23 How Asia’s scale is influencing its role in global portfolios
04:20 Why policy and economic cycles differ across the region
07:10 Why Japan’s corporate and inflation dynamics are drawing attention
08:36 Where AI-related manufacturing is concentrated
10:20 How domestic consumption is developing in India and Southeast Asia
12:47 How Asian fixed income behaves differently from developed markets
14:35 How to Allocate in Asia
17:42 Singapore Travel Tips
18:50 Wrap Up and Disclosures
Sources: Bloomberg May 12th 2026,

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Asia investing, APAC markets, Asian equities, Asian fixed income, Japan economy, AI supply chain, emerging Asia, portfolio diversification, Asia equity markets
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.
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Retirement systems are undergoing a structural shift as traditional pensions decline and individuals take on greater responsibility for financial outcomes. Longer lifespans and evolving capital markets are making retirement planning more complex and consequential.
Oscar Pulido speaks with Nick Nefouse, Global Head of Retirement Solutions at BlackRock. They discuss how defined contribution plans, target date funds, and regulatory changes are reshaping how individuals save, invest, and prepare for retirement.
The conversation explores how retirement is moving from a focus on accumulation to income generation, particularly during the “retirement window.” It also highlights how global systems are converging toward similar models, and how innovation—across portfolio construction, private markets, and guaranteed income—is influencing long-term outcomes.
Key insights:
· How the shift from pensions to defined contribution plans is changing investor responsibility
· Why longevity is reshaping retirement timelines and financial planning needs
· How target date funds are simplifying access to capital markets for individuals
· What the “retirement window” reveals about diverging investor outcomes
· Where global retirement systems are converging despite regional differences
· How income generation is becoming central to retirement portfolio design

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Key moments in this episode:
00:00 Introduction to retirement trends
02:00 Shift from pensions to defined contribution plans
04:30 The role of target date funds and regulation
6:00 The retirement “window” and investor behavior
8:00 Expanding access to retirement plans
10:00 Global retirement system comparisons
14:00 Retirement vs. wealth management convergence
16:00 Market volatility and long-term investing
18:00 The future of retirement systems and innovation
Sources: BlackRock Retirement Trends Report, 2025; Federal Reserve Bank of St. Louis, “Pension or 401(k)? Retirement Plan Trends in the U.S. Workplace,” 2025
retirement trends, retirement planning, defined contribution, 401k, target date funds, longevity, financial planning, investing,
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. The views expressed by third‑party speakers are their own and do not necessarily reflect the views or positions of BlackRock, nor should they be interpreted as an endorsement by BlackRock. 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.

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Crypto investing is at a crossroads as digital assets move from speculative beginnings toward broader institutional adoption and integration into capital markets. As volatility persists and infrastructure evolves, investors are increasingly asking not what crypto is—but what role it plays in portfolios.
Host Oscar Pulido is joined by Robbie Mitchnick, Head of Digital Assets at BlackRock, and Dan Morehead, CEO of Pantera Capital, live from Miami at BlackRock’s Latin America Investment Forum. Together, they explore how crypto investing has evolved, why institutional participation is accelerating, and how investors are reassessing digital assets within diversified portfolios. The conversation examines the dual nature of crypto as both a volatile, risk-sensitive asset and a potential long-term diversifier. Robbie outlines how bitcoin’s unique characteristics—scarcity, decentralization, and independence from sovereign systems—differentiate it from traditional assets in capital markets. Dan reflects on early conviction in crypto and why institutional adoption may still be in its early stages, despite growing awareness.
Check out our previous episode on Gold and Bitcoin as Portfolio Diversifiers: Why Interest Is Rising Now: https://open.spotify.com/episode/7LTut5pKnHVfrOdoAFM5r9
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Key moments in this episode:
00:00 Introduction
03:30 Early conviction in crypto investing
05:00 Crypto as a portfolio asset
08:00 Understanding volatility and cycles
10:10 Bitcoin vs. Ethereum and market structure
12:00 Institutional adoption trends
15:00 Crypto in Latin America
17:00 Retail vs institutional investors
19:00 Future of crypto investing and regulation
21:00 AI and blockchain convergence
23:00 Closing thoughts
Sources: Bitcoin market cap, Forbes April 19th 2026; Transforming Global Trade: Bitso Business at the Forefront of Blockchain”, Bitso Business 2025
crypto investing, bitcoin, ethereum, digital assets, blockchain
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.
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Portfolio construction is being redefined as investors face a fundamentally different market regime. Higher inflation, shifting interest rate dynamics, and accelerating megaforces like AI and geopolitics are challenging long-held assumptions about diversification and asset allocation across capital markets.
In this episode of The Bid, host Oscar Pulido sits down with Vivek Paul, Head of Portfolio Research and UK Chief Investment Strategist at the BlackRock Investment Institute. Together, they explore why traditional portfolio construction frameworks may no longer be sufficient and how investors are adapting to a world of greater uncertainty, dispersion, and structural change. Vivek explains how megaforces such as AI investing and geopolitical fragmentation are creating unprecedented outcomes across markets, making static asset allocation less effective. He outlines why portfolio construction must become more dynamic and granular, with a deeper focus on underlying risk exposures rather than broad asset class buckets. The conversation also examines the growing importance of private markets, active strategies, and scenario analysis in navigating today’s environment.
Timestamps
00:00 Introduction
01:56 What’s driving the shift in portfolio construction
03:24 Megaforces: AI and geopolitics
06:15 Rethinking traditional asset allocation
09:27 Diversification in a new regime
12:10 Total Portfolio Approach: Private markets and active strategies
14:28 Scenario analysis and future outcomes
17:48 Risks and maintaining structure
19:00 Key takeaways
Sources: Rethinking portfolio construction during transformation, BII February 2026
portfolio construction, capital markets, AI investing, megaforces, asset allocation, private markets, stock market trends, investing strategy, diversification
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.
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The S&P 493 is gaining attention as investors look beyond the Magnificent Seven and reassess where growth and diversification may come from in today’s equity markets. With market concentration at historic highs, a handful of mega cap companies have driven much of the S&P 500’s returns, raising questions about what lies beneath the surface.
In this episode of The Bid, host Oscar Pulido speaks with Ibrahim Kanan, Head of the U.S. Core Equity Team within BlackRock’s Fundamental Equities Group, about the growing relevance of the S&P 493 — the broader set of companies outside the largest names. They explore how market concentration has evolved, why a $200 billion company represents only a small fraction of the index, and what that means for portfolio exposure.
The conversation highlights how earnings growth is beginning to broaden beyond mega cap stocks, supported in part by the expanding impact of AI investment across sectors. From industrials and healthcare to consumer and financials, companies are both benefiting from AI infrastructure spending and adopting AI to improve operations. As dispersion across companies increases, the discussion also examines how active investing, differentiation, and stock selection may play a larger role in navigating today’s equity market.
Key moments in this episode:
00:00 Introduction
01:24 How Unprecedented Is 40% market Concentration of Magnificent Seven?
03:35 What the S&P 493 represents
05:28 Best of the Rest Signals
07:21 Earnings Growth and Convergence Explained
08:04 AI CapEx Spreads Beyond Nvidia
10:31 AI as a Competitive Edge
13:14 Where Opportunities Show Up
14:35 Beyond AI and Idiosyncratic Picks
15:44 Diversification Mirage and Active Risk
18:04 Investor Mindset in Volatile Markets
19:56 Wrap Up

Check out this episode with Carrie King on her stock picks for 2026: https://open.spotify.com/episode/69Ndp7lM8wRRccLh7EfyPg

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S&P 493, Magnificent Seven, US equities, stock market trends, AI investing, capital markets, active investing, portfolio diversification
Sources: BlackRock Fundamental Equities with data from FactSet and Bloomberg as of 12/31/25; Yahoo Finance, Stock Prices for NVDA and HAS, US ISM Manufacturing PMI 2026; “Here's the Average Stock Market Return in the Last 15 Years and What Wall Street Expects in 2025”, Yahoo Finance January 2025; “‘Magnificent-7’ Q4 2024 Earnings Review: Growth Holds, but Rotation Awaits” LSEG March 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

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