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Kinniry: A Double Hurdle for Tactical Asset Allocation

Not only are the probabilities stacked against tactical allocation strategies, but even the successful ones can be hard for investors to stick with, says Vanguard senior investment strategist Fran Kinniry.

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Jeffrey Ptak: I'm Jeff Ptak, coming to you from the sixth annual Morningstar ETF Conference here in Chicago.

I'm very pleased to be joined today by Fran Kinniry. He is a senior investment strategist and principal at The Vanguard Group--a thought leader for Vanguard.

Jeffrey Ptak does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.