The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
Fran Kinniry on The Past, Present & Future of Vanguard | #562
My guest today is Fran Kinniry, Principal and Head of Vanguard Investment Advisory Research Center. Fran has been at Vanguard since 1997 and served as the Global Head of Private Investments and Global Head of Portfolio Construction. In today’s episode, Fran highlights the role of advisors to help investors stay disciplined and avoid creating their own bear markets. He discusses his role leading Vanguard’s entrance into private equity in 2020, covering the initial launch and what’s next. He also touches on the market today, making the case for fixed-income, international diversification and rebalancing as 2024 comes to a close.
Key Points
- Vanguard was originally an actively managed firm and remains one of the largest active and fixed income managers globally.
- Investors today are showing greater discipline and contrarian behavior, with significant cash flows moving into fixed income despite recent strong equity returns.
- Vanguard's approach to private equity aims to democratize access for individual investors by negotiating institutional-level terms with top-tier managers.
Chapters
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Transcript
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