(A note to listeners: We recorded this interview before the recent sell-off began, and that is why it's not discussed. We'll address the recent downturn in future installments of The Long View. Please enjoy this episode and thanks again for listening.)Our guest this week is Fran Kinniry. He is a principal in the Vanguard Investment Strategy Group, which develops Vanguard's investment philosophy, methodology, and portfolio construction strategies. Kinniry has been a leading researcher on topics like capital markets, portfolio design, and investment strategy. He was recently tapped by Vanguard to lead the firm's initiative to offer private equity investment management to certain institutional and high-net-worth clients. Before joining Vanguard in 1997, Kinniry was a partner and senior portfolio manager for institutional asset manager Executive Investment Advisors, and before that he was the portfolio manager for H. Katz Capital. Kinniry is a CFA charterholder and earned his Master of Business Administration and bachelor's degree from Drexel University.Background and ResearchFran Kinniry bioHarbourVest"Vanguard and HarbourVest Announce Private Equity Partnership." The Vanguard Group, Feb. 5, 2020."The Role of Private Equity in a Nonprofit Portfolio." The Vanguard Group, Nov. 15, 2019.Vanguard research library"Vanguard Advisor's Alpha," by Donald Bennyhoff and Fran Kinniry, Vanguard Research, July 2018.John C. Bogle: A Look Back at the Life of Vanguard's Founder