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<p>[QUOTE=&quot;Cloudsweeper99, post: 1173631, member: 3011&quot;]I&#039;ve never liked DCA but I&#039;m a fan of mechanical portfolio management techniques because they take the emotion out of it.&nbsp; If you play around with a spreadsheet, it quickly becomes apparent that DCA outperforms lump sum investing in only one special case - where the price drops significantly below the initial price and stays there for a reasonably long time.&nbsp; In all other cases. it loses.&nbsp; There is also a great danger that a relatively small monthly investment can result in a huge loss if the market turns down a decade later.&nbsp; Someone could be investing $100 per month using a &quot;safe&quot; DCA program and suddely find that they have lost $6,000 a decade later.&nbsp; It is also psychologically tough for someone to continue the program when prices are in free fall.&nbsp; So I doubt that very many people can successfully use DCA over the long term.[/QUOTE]</p><p><br /></p>

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