Many folks invest via IRA's, 401k, 403b, 457 and gov't plans; and one may classify them as "investing" for a variety of reasons; but the majority are not "investors". Thus no rebalance of something very few understand through lack of time, passion or knowledge.

don't panic
http://money.usnews.com/money/personal-finance/mutual-funds/articles/2012/07/25/5-reasons-not-to-panic-over-california-bankruptcies

capitalism loosing its soul
http://management.fortune.cnn.com/2012/07/24/jack-bogle-has-capitalism-lost-its-soul/?section=magazines_fortune

investors tiptoe back into stock funds
http://www.sacbee.com/2012/07/25/4659788/investors-tiptoe-back-into-us.html

http://www.reuters.com/article/2012/07/25/us-targetdate-etfs-idUSBRE86O1OP20120725

vanguard to challange pimco tips
https://mail.google.com/mail/?ui=2&view=bsp&ver=ohhl4rw8mbn4

http://www.kiplinger.com/columns/value/archive/get-to-know-primecap-odyssey-aggressive-growth.html

another top mf loses its touch
http://www.cbsnews.com/8301-505123_162-57477468/another-top-mutual-fund-loses-its-touch/

search for income
http://lplgraphics.com/~rss/LPL_RSS_Feeds_Publications/SFI/Search_for_Income_Q22012.pdf

coffee anyone
http://etfdailynews.com/2012/07/24/the-ultimate-investor-guide-to-coffee-etfs-and-coffee-investing-jo-cafe/

earning 4%?
http://seekingalpha.com/article/742311-a-simple-approach-to-earn-more-than-4-in-dividends

investing in spain? - Spain's Pains May Yield Investor Gains
http://www.smartmoney.com/invest/stocks/spains-pains-may-yield-investor-gains-1343139267463/

Some truth in the piece; but vague about what it is one should rebalance and what type investors might benefit. A conservative investor (read "oldster") probably should rebalance often - locking in short term gains, cutting potential losses, but likely missing out on some additional gains. A youngster of 25 might do better 100% in equity funds letting them run. And, by dollar cost averaging in over many years there is a sort of ongoing "rebalancing" taking place. I'd question the need for further rebalancing until later along in years. No mention of the many hybrid or allocation funds available. If the manager(s) of PRWCX periodically rebalance the fund's diversified holdings, should I also rebalance the fund's weighting among my investments, selling off chunks when it does well? I tend to think not.