To keep your portfolio risk constant, you need to be willing to adjust your stock allocation upward or downward in response to big valuation shifts (that is, to follow a non-Buy-and-Hold approach). (thedigeratilife.com)
Juicy Excerpt: I recently engaged in e-mail correspondence with Former Financial Analysts Journal Editor Rob Arnott concerning the Valuation - Informed Indexing investing strategy (Valuation - Informed Indexers believe that investors MUST change their stock allocations in response to big valuations shifts to... (arichlife.passionsaving.com)
They can stay at the same stock allocation at all times (Buy - and - Hold) or they can adjust their stock allocation from time to time in response to big valuation shifts (Valuation - Informed Indexing). (valuewalk.com)