"[W]hen such bucketing or decision-rules strategies are paired with simple rebalancing, ... the outcome is no better than merely managing the portfolio on a total-return basis alone.... [S]imple rebalancing already has an astonishingly powerful effect in helping to avoid unfavorable liquidations, as the process systematically ensures that the investments that are up (the most) are sold, and the ones that are down (the most) are held and, in fact, bought instead. This means advisors may not be giving rebalancing alone nearly the credit it deserves to accomplish similar -- or even better -- results than setting aside buckets and creating decision rules."  MORE >>