Madison McCall, an active product specialist at Vanguard since 2017, brings her journalism background to the forefront of fund management. She discusses what it means to have an edge in fund research and the significance of the 4P framework. The conversation dives into why patience is essential in investment strategies and how Vanguard views the ongoing debate between active and passive investing. Madison also emphasizes the crucial distinction between compelling narratives and factual performance metrics in evaluating asset managers.