Rebalancing Purpose Provides frameworks for maintaining portfolio allocations over time as market movements cause weights to drift from targets. Covers calendar and threshold rebalancing strategies, optimal band widths, transaction cost considerations, tax-efficient approaches including tax-loss harvesting, and practical implementation across account types. Layer 4 — Portfolio Construction Direction both When to Use - Deciding when and how to rebalance a portfolio back to target weights - Comparing calendar-based vs. threshold-based rebalancing strategies - Setting optimal rebalancing bands t…