I’ve come to understand that in the newfangled parlance, people are now making New Year’s intentions rather than resolutions. The distinction is lost on me, but in a nod to the modern age, I’ve put together my 2019 New Year’s intentions.

But unbeknownst to her, my daughter gave me the best Father’s Day present that any financial advisor could ask for, when, upon glancing at the back of the Business section of the newspaper that I was reading, she asked, “Daddy, what are all those funny looking charts?”

Along with millions of other Americans, our office held a small pool for the NCAA basketball tournament this past March. We filled out our brackets and let the games play out. Well, I won, despite spending less than 7 minutes constructing my bracket (possibly to the annoyance of some at the firm).

Because of its massive size and unique internal and external structure, it serves as a home and water source for multiple other species in its ecosystem. But this fascinating plant also offers some powerful “investment portfolio” lessons.

Ideally, we want our investments to own all the teams in the tournament because what we expect to happen might not actually happen.

At its core, the concept of rebalancing is simple. Start with a target percentage allocation of each asset in a portfolio, and as asset values change, periodically make trades so that the portfolio doesn’t drift too far from those targets.