<prompt> Human: Looking through old posts that discuss rebalancing, the conventional wisdom here seems to be that if you add money regularly, rebalance when you add, and if you dont add money, rebalance once a year.However, one comment reference this PDF that suggests youll see better returns with a different strategy. They define a rebalancing band and a tolerance band, and a look interval. Whenever you look, if any asset class is ever outside the rebalancing band, then you rebalance all classes that are outside the tolerance band. They study whether different look intervals affect returns. That is, you could check to see if any classes are outside the rebalancing band every day, or every week, or biweekly, or monthly, quarterly, semi-annually, or annually. They end up recommending a look interval of biweekly or more often, and a rebalancing band of 20 and tolerance band of 10. So for example, if I was 40 US stocks, 25 intl stocks, and 35 bonds, Id rebalance if US stocks were outside the 32-48 range, and whenever I rebalance Id get US stocks within the 36-44 range. Likewise for intl 20-30 - 22.5-27.5 and bonds 28-42 - 31.5-38.5. The benefit of that studys method over annual re-balancing is only a few tenths of a percent, but Ive seen plenty of people suggest that expense ratios at that level matter. So Im curious, how are you all re-balancing?Also, Im not sure its exactly frequently asked but I wondered if anyone would disagree with adding this to the FAQ:How often should I re-balance?--- If you add money regularly to the account, rebalance whenever you add money If you dont add money to the account and take a pretty hands-off lazy approach, rebalance annually If you like to check in on your account often anyway, consider opportunistic rebalancing warning: PDF  <response>: I think theres some arguments to be made for frequent re-balancing and for infrequent re-balancing. I like to sort of re-balance by making new contributions to whatever is light. I do a real re-balance only every 18 months or so, or if things get out of whack with fairly wide range bands. It sort of a momentum thing and I like to allow the momentum to carry the high fliers a bit before I trim them back. I think I got the idea from a Wm Bernsteins Investors Manifesto book. Something like Rebalance your portfolio approximately once every few years; more than once per year is probably too often. In taxable portfolios, do so even less frequently. 