"John C. Bogle, founder of the Vanguard funds, believes investors should rebalance their portfolios on a regular schedule by selling a portion of whatever has gone up the most or buying some of whatever has gone down. 'I think rebalancing makes a substantial amount of sense,' Mr. Bogle recently said on the Jean Chatzky radio show. With his own money, however, 'I don't rebalance ... I leave it alone. I have not touched my asset allocation since March of 2000.'"
The full story: Investing Experts Urge 'Do as I Say, Not as I Do' (WSJ subscription required)