Is the rebalancing bonus a myth? A number of readers told me so after I briefly mentioned the concept last week. The charge that rebalancing isn’t guaranteed to deliver a performance premium over the same portfolio that’s left to wander is, of course, true. Much depends on when and how you rebalance, along with the composition of your portfolio. But this caveat isn’t terribly surprising, nor is it particularly helpful in the cause of looking for productive strategies in money management. There are no sure things in finance, for the simple reason that the future’s uncertain. Even “cash” comes with a sliver of risk.