Rebalancing may help keep your portfolio aligned with your goals, but how often should you actually do it? In Episode 22 of Greenstream, we break down the research behind rebalancing, why drift matters, and how to use cashflows to rebalance with the least friction and cost. You’ll learn about the:

• Why rebalancing works and what the evidence shows about managing portfolio drift
• The tradeoffs between calendar schedules, tolerance-band triggers, and using cashflows to stay aligned with your target mix in an effort to minimize taxes and friction
• Why a disciplined, rules-based process could help you stay invested during volatile markets

Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast

Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982

Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g

Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com

Sources

1 Opportunistic Rebalancing: A New Paradigm for Wealth Managers (Daryanani, 2008)

2 Rebalancing and Returns (Dimensional, 2008)

3 Hong, Xing, Portfolio Rebalancing: Tradeoffs and Decisions (2021): https://ssrn.com/abstract=3858951

4 Are Advisors Worth Their Fee | Greenstream 13 (2025)

Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

After 15 years of U.S. outperformance, many investors are wondering whether global diversification is still worth it. In Episode 21 of Greenstream, we look past recent returns and dig into the long-run evidence of global stock market returns. You’ll learn about:

• The academic, risk-adjusted case for international diversification
• How global diversification helps protect against a ‘lost decade’ or more in your home country
• The case for home bias and how to build a portfolio you can stick with

Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast

Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982

Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g

Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com

Sources

1Chambers, David and Dimson, Elroy and Ilmanen, Antti S. and Rintamäki, Paul, Long-Run Asset Returns. Available at SSRN: https://ssrn.com/abstract=5022480

2UBS Investment Returns Yearbook 2025: https://www.ubs.com/global/en/investment-bank/insights-and-data/2025/global-investment-returns-yearbook-2025.html

3International Diversification—Still Not Crazy after All These Years. AQR, 2023: https://www.aqr.com/Insights/Research/Journal-Article/International-Diversification-Still-Not-Crazy-after-All-These-Years

4Japan in the News, But It’s Nothing New. Dimensional, 2024: https://www.dimensional.com/us-en/insights/japan-in-the-news-but-its-nothing-new

5A Tale of Two Decades: Lessons for Long-Term Investors. Dimensional, 2020: https://www.dimensional.com/us-en/insights/a-tale-of-two-decades

6Has Australia Really Had a 28-Year Expansion? Federal Reserve Bank of St. Louis, 2019: https://www.stlouisfed.org/on-the-economy/2019/september/australia-28-year-expansion

7Investor Risk: Behavioral Biases That Cost Investors Returns. Greenspring Advisors, 2025: https://youtu.be/jMxlCOdjkqg?si=CzWk2vQ6QEJUyW3P

8Global Diversification Still Requires International Securities. Dimensional, 2024: https://www.dimensional.com/us-en/insights/global-diversification-still-requires-international-securities

Information contained herein has been obtained from sources considered reliable, but its accuracy and completeness are not guaranteed. It is not intended as the primary basis for financial planning or investment decisions and should not be construed as advice meeting the particular investment needs of any investor. This material has been prepared for information purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Past performance is no guarantee of future results.

It’s one of the most important decisions in personal finance. Research has shown that asset allocation, not the stocks you pick, explains 90% of returns (see sources below). That’s why getting your mix of stocks to bonds right matters most. In Episode 20 of Greenstream, we explain why there is no agreement on the single, optimal portfolio, but how we can find the best portfolio for you.

You’ll learn about:

• How to align your portfolio with your risk tolerance, capacity, and need
• Why your asset allocation should evolve as you approach, are in, and continue through retirement
• The role ample liquidity plays in building the perfect portfolio for you – one you can stick with

Subscribe for Email Updates: https://greenspringadvisors.com/greenstream-podcast

Follow on Apple Podcasts: https://podcasts.apple.com/us/podcast/greenstream/id1795467982

Follow on Spotify: https://open.spotify.com/show/26NYX6WD7godcJAYVE0Yk8?si=Qxj-H7HiRdGmbNlW8uuV9g

Meet with Pat & Marcus: https://outlook.office365.com/book/MarcusCalendaratGreenspringAdvisors@Greenspringos33.onmicrosoft.com

Sources

1 Brinson, G. P., Hood, L. R., & Beebower, G. L. (1986). Determinants of Portfolio Performance. Financial Analysts Journal, 42(4), 39–44. https://doi.org/10.2469/faj.v42.n4.39

2 Ibbotson, Roger G. and Kaplan, Paul D., Does Asset Allocation Policy Explain 40, 90, 100 Percent Of Performance?. Available at SSRN: https://ssrn.com/abstract=279096

3 https://youtu.be/CFbvuB4o1bk?si=HjtiukEtteLJuNAQ

4 Gennaioli, Nicola and Shleifer, Andrei and Vishny, Robert W., Money Doctors (June 11, 2012). Chicago Booth Research Paper No. 12-39, Fama-Miller Working Paper, Available at SSRN: https://ssrn.com/abstract=2133429 or http://dx.doi.org/10.2139/ssrn.2133429

5 https://youtu.be/y_PX-HyRW-Q?si=ISVpYmGFudUcYr9O