sa·pi·ent | ˈsāpēənt | (adjective): full of knowledge, wise, discerning; having judgment gained through experience.

When Should I Rebalance?: A Tactical Approach

Posted by Kevin Means, CFA on Feb 7, 2019 1:38:02 PM

Many investors assume that their strategic asset mix is somehow sacrosanct.  They have been told that they should rebalance back to the strategic targets if their portfolio gets out of whack.  This is despite the fact that the quality of the analysis behind the setting of the strategic asset allocation is usually subjective and often quite weak.  I believe that using current fundamentals to estimate expected returns of stocks and bonds should guide the tactical rebalancing around the strategic targets. 

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Topics: Insider

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