The barbell strategy is an investment strategy that involves purchasing both shortterm and longterm bonds and securities but no intermediates (such as in a "laddered" approach).
The thinking behind this strategy is to help you, as an investor, diversify your portfolio and increase the probability of higher returns. The longterm investments will provide the benefit of higher interest rates and increasing value over time. Maintaining some holdings in shortterm bonds will provide you with flexibility to take advantage of interest rate changes.
When using this strategy, you'll want to keep your longterm bonds but be poised to make changes to your shortterm investments (buy or sell as needed) if interest rates change. Evaluate your portfolio's performance and then consider selling and reinvesting your longterm investments when they reach approximately the halfway point to maturity.
For more on this read, A Guide to Portfolio Construction.
This question was answered by Katie Adams.

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