Prolific author and highly-regarded financial theorist William J. “Bill” Bernstein was recently interviewed by Index Universe.  In the conversation, Bernstein argues for a reduction of exposure to risky assets – like stocks and real estate – when markets are rising, as they have been since early 2009.  A systematic approach to doing so, commonly known as rebalancing, keeps an investor’s asset allocation stable, and ensures that they are not over-exposed to risky assets when the inevitable market correction comes.  You can read the entire November 26, 2013 interview here.