Tactical asset allocation
Also: TAA
Short-term, deliberate tilts away from the strategic allocation to reflect a market view.
Tactical asset allocation makes temporary adjustments around the strategic weights to express a view on the market. At Moondog the strategic allocation is the anchor; any tactical tilt is a documented, bounded decision, never a drift.
Tactical tilts are tempting and rarely add value over time, because timing markets consistently is extraordinarily hard. Where used, the discipline is to keep them small, bounded by the policy and documented, so a short-term view can never quietly become a permanent drift from the strategy.