能帮我解释一下rebalanced portfolio和buy-and-hold portfolio的区别吗？

能帮我解释一下rebalanced portfolio和buy-and-hold portfolio的区别吗？

I find robust evidence that, in rebalanced portfolios, cash flows of value stocks grow faster than growth stocks. Contrary to conventional wisdom, however, I find that, in buy-and-hold portfolios, cash flows of growth stocks do not grow ...
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rebalanced portfolio
投资组合是由投资人或金融机构所持有的股票、债券、衍生金融产品等组成的集合，投资组合的目的在于分散风险。
buy-and-hold portfolio
买人并持有策略是指按确定恰当的资产配置比例构造了某个投资组合后,在诸如3-5年的适当持有期间内不改变资产配置状态,保持这种组合。