Why do you need to DCA? Because you never know how brutal a bear market can be

If you bought $Q all at once in March 2000, after which the maximum drawdown exceeded 76%, it wasn’t until August 2013 that you finally broke even
A full 13 years and 5 months—when you bought that year, the child had just started first grade in elementary school and was only 6 years old; when the account finally returned to its starting point, the child was already 20, in his second year of university
You watched him through elementary school, middle school, and high school, sent him into university—only then did the account just barely get back to break-even
The purpose of DCA isn’t to guarantee that you buy at the absolute bottom, but to prevent putting all your funds into a position that might take more than ten years to get back to profit
#美股 # DCA