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Balancing, at its core, is hard evidence of one's commitment to walking the talk on value investing : Buy low, sell high. Both of which are very easy to preach, and extremely difficult to practice.

The purpose of balancing is neither to cash in on gains, nor to cash out on losses. It is simply to manage the overall risk of a well diversified portfolio. So yes, 'leaving money on the table' always hurts, but that's usually how you avoid leaving it in the sewer instead :)

Of course this also assumes your portfolio size and diversification are more or less stable to start with. If your portfolio is still in its early stages of being built and/ or diversified, then an outsize position today could well become a reasonable one soon, thanks to diversification.
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