In today's episode, we welcome back Mike Pyle of BlackRock. Mike is a senior leader within BlackRock and a key member of the BlackRock Investment Institute (BII), where he helps shape the firm's global macro views and portfolio construction frameworks. Mike has a law degree from Yale and a bachelor's degree from Dartmouth. Mike brings a unique perspective to markets, having served in the Obama White House before joining BlackRock as their Global Chief Investment Strategist, followed by another stint at the White House with the Biden-Harris Administration and back to BlackRock in 2024. While in government, he worked closely on economic policy at the highest levels and completed much of the CFA Program during his first turn at the White House. In this conversation, we revisit Mike's journey, explore how BlackRock is thinking about today's evolving macro regime, and discuss the BlackRock Investment Institute before pivoting to portfolio construction in a world where stock-bond diversification is less reliable. We also dive into the growing role of hedge funds and alternatives as investors navigate higher volatility, geopolitical fragmentation, and structurally higher rates. Today's hosts are Steve Curley, CFA (Co-Managing Principal, 55 North Private Wealth) & co-host Chris Cannon, CFA(CIO/Principal, FirsTrust). Please enjoy the episode. You can follow us on Twitter & LinkedIn or at investorsfirstpodcast.com Show Notes: BlackRock – BlackRock.com BlackRock Investment Institute - https://www.blackrock.com/corporate/insights/blackrock-investment-institute