An important and often overlooked topic was raised by Corey Hoffstein at NewFound Research. Here are his first couple of tweets on that topic:
Indeed, this is about rebalance timing and how little attention it gets. Within the construct of a systematic strategy, this is a part of the Execution Model.
The Black Box Revealed
Courtesy: Inside the Black Box - The Simple Truth about Quantitative Trading by Rishi Narang
It is important to understand the building blocks of systematic investing strategies before learning how to build them. Here is a schematic from the book, Inside the Black Box - The Simple Truth about Quantitative Trading by Rishi Narang, that provides a good way to visualize these building blocks and how they fit together in a system.
The Black Box Revealed
The author had aptly titled it - The Black Box Revealed, since that is how most people perceive it to be from the outside.