The Meb Faber Show - Better Investing Fran Kinniry on The Past, Present & Future of Vanguard | #562
Dec 20, 2024
Fran Kinniry, a Principal and Head at Vanguard Investment Advisory Research Center, shares insights from his extensive experience since 1997. He emphasizes the crucial role advisors play in helping investors maintain discipline during market turmoil. Fran discusses Vanguard's strategic entry into private equity and the importance of fixed-income investments as 2024 approaches. He also highlights the significance of international diversification and the resurgence of high-quality bonds in today’s investment landscape.
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Vanguard's Origins
- Vanguard began as an actively managed firm.
- It's now one of the largest active and fixed-income managers.
Investor Behavior and Market Trends
- Investors tend to follow momentum, increasing stock allocations after market gains.
- Recent years show increased discipline with more stable allocations despite market fluctuations.
Rebalance Your Portfolio
- Rebalance your portfolio consistently, especially during volatile market periods.
- This involves trimming overperforming assets and adding to underperforming ones.