1Soak the tapioca pearls in milk overnight in the refrigerator.
2Preheat the oven to 350 degrees F (175 degrees C). Combine the tapioca, milk, and rice in a large pan over medium heat. Stir in the eggs, sugar, salt, cinnamon and nutmeg. Cook over medium heat, stirring constantly for 15 minutes. Do not bring to a boil. Pour into a 9x13 inch baking dish, and stir in raisins. Cover with a lid or aluminum foil.
3Bake for 40 minutes in the preheated oven, but stir in the vanilla after 20 minutes. Cool to room temperature, then refrigerate until cold.