The same blog has a post that tries to tackle that issue. You are right, looking at the US isn't a complete picture. This post examines that issue from IMO a m

The same blog has a post that tries to tackle that issue. You are right, looking at the US isn't a complete picture. This post examines that issue from IMO a more holistic standpoint that DCA isn't just a strategy, it's closer to everyone's "real" experience. https://ofdollarsanddata.com/realistic-investment-results/ https://ofdollarsanddata.com/realistic-investment-results/ I think what I took from it is there's a level at which I sort of don't take the criticism I guess seriously (more like harsly?) of DCA, because like, after much gnashing and grinding of teeth, life looks a lot like dollar cost averaging for most folks. So okay, then we can talk about diversification, which is important, and this and that and blah. But like, unless you hit it big and sell your business or something and suddenly have to figure out what to do with 7-8 figures, you don't quite experience the same problem. It just feels like as tempting as the standard deviation on potential performance looks like, and as convincing as the anecdotes feel, how real is any of this? There's more important factors that are definitely in your control, vs things that questionably or I suppose reasonably aren't.