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by toast0 1110 days ago
DCA is really about managing behavior rather than volatility or return. It's hard for many people to put a lump sum in the market, even if they agree it's the right thing to do. It's behaviorally easier to put X% in today and the rest on a schedule than to make the decision to put the lump sum in today. It's better to start the process than to waffle on if today is the day or not.