Isn’t it so that statistically lump-sum is better[0] but that you take on overvaluation risk? If you DCA you reduce that risk.
[0] don’t have a ref but I think it has been shown that if you have a lump sum of money, historically you would have made the most gains by investing everything immediately (in the S&P500, there are only a few periods were this wasn’t true (therefore there is a risk)
[0] don’t have a ref but I think it has been shown that if you have a lump sum of money, historically you would have made the most gains by investing everything immediately (in the S&P500, there are only a few periods were this wasn’t true (therefore there is a risk)