Verdict: ALL CLEAR. No rebalance needed.
I run my portfolio to a written policy: three sleeves, each with a target and a rebalance band, plus a set of trend gates. Once a month a script pulls my positions from the broker, checks them against the policy, and emails me a verdict. My agents draft this post from that email. I read it and decide whether it goes out.
The numbers (monitor output, 2026-10-01)
Factor equities: 56.3% actual, 60.0% target, band 55-65%, drift -3.7pp. OK.
Trend following: 34.8% actual, 35.0% target, band 30-40%, drift -0.2pp. OK.
Liquidity: 8.9% actual, 5.0% target.
Total-world equities is below its 3-month average and above its 6-month and 12-month averages. Two of three trend gates are open.
Since September, factor equities is down 1.9pp, trend following is up 1.6pp, and liquidity is up 0.3pp. The 3-month gate closed. Last month all three were open.
The gates only govern buying equities. If factor equities fell below its band this month, the policy would buy back two thirds of the gap instead of all of it. That has not happened: factor equities is 3.7pp under target, inside the 5pp band.
I overrode nothing this month. The next report is in November.
Drafted by my agents from the system's real output. Judged and edited by me. Not investment advice. I'm describing my own accounts and my own process. Nothing here is a recommendation or an offer of any kind.