On fat burner

Reading THE FOUR PILLARS OF INVESTMENT by William Bernstein has helped me clarify my understanding the relationship of risk to reward with investments. And one chapter helps validate my own conclusion that it's worthwhile only to invest for streams of income, though he goes on to ignore that conclusion for the rest of the book and preaches index funds and asset allocation. However, to my mind, getting rid of asset allocation as normally practiced is a good fat burner for your portfolio, because selling off expensive assets generates broker commissions and capital gains taxes in taxable accounts. It's better to keep those securities earning more and more dividends and interest. Don't worry about their market values, that's my advice, so long as you receive your checks on time.