Rebalance? No Way!

For the first time since Hewitt Associates began tracking 401(k) accounts in 1997, American workers in February held less than half of their 401(k) money in stocks, The New York Times reports.

Workers aren't necessarily selling their stocks. They're just not buying:

By not routinely rebalancing their portfolios — resetting them back to a desired mix of stocks and bonds at least once a year — investors are setting themselves up for failure, [Mike Scarborough, president of Scarborough Capital Management], said.