Striking cyclic changes in ego function occurred in a young male schizophrenic during outpatient psychotherapy involving periodic change of therapists. Utilizing a schema of Szasz the author illustrates the use of the beard as part of the body to which cathexes, withdrawn from external objects, are transferred in clearly demarcated steps under the stress of forming and breaking a relationship to a new therapist. The case is described during the course of one such six-month cycle.