Originally Posted by nun
Surely nobody does pure B&H you have to include rebalancing.
With suitable qualification ("nobody who is a knowledgeable investor ...") I suppose that might be so. But I do pure B&H, since I have never in my life sold a security except to spend the money on something outside of my portfolio (house down payment, e.g.). To the small extent I balance stocks versus bonds, I do that by buying the one I think I don't have enough of. But I don't sell either.