I’ve post entry #7 for the Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called Dollar-Cost Averaging Is a Loser Strategy.
Juicy Excerpt: Yes, you paid different prices for your stocks if you practiced Dollar-Cost Averaging during that time. You bought some shares at a P/E10 level of 25, you bought some shares at a P/E10 value of 30. you bought some shares at a P/E10 value of 35. That’s another way of saying that you bought some shares at insanely high prices, you bought some shares at super-insanely high prices, and you bought some shares at prices that may not be described in mixed company.
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