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Ken, could you explain dollar value averaging?

Probably no better than the link I provided:
http://www.lifestylepublishing.com/gifree.htm

But I can give it a try. It's similar to DCAing, but accounts for market movements, requiring you to put in more, or less, than DCAing would.

Let's say 12 months from now you want to have \$12000 invested in something. DCAing would have you add \$1000 each month for 12 months, period. Simple & easy, but your actual account balance will be more or less than \$12000 -- it's highly unlikely to actually be \$12000. DVAing says to adjust each month's amount by whatever is needed, based on the current market value, so that the total value of the position is the amount you would have invested with DCAing. Here's an example:

Jan 1 - Invest \$1000
Feb 1 - Value is \$1050. Invest \$950; total value \$2000.
Mar 1 - Value is \$2190. Invest \$810; total \$3000.
Apr 1 - Value is \$3340. Invest \$640; total \$4000.
May 1 - Value is \$4230. Invest \$770; total \$5000.

Etc. In the first 5 months of investing into a rising market in this example, you will have a market total of \$5000, but will have invested "only" \$4170. With DCAing, you will have invested \$5000 (but will have an even higher total account value, of course).

Once the market starts to head down, your required investments will obviously increase. The advantage I see of DVAing over DCAing is that you invest less when the prices are high, and more when prices are lower. (Which is also the goal of DCAing, but I think DVAing accomplishes this better.)

I seem to recall that there was a study that showed that DVAing was superior to DCAing, but I can't cite it. Perhaps someone else knows a link to one.

Ken