> There was also a study done by Vanguard which showed that historically, dollar-cost averaging underperforms lump-sum investments which was just as interesting

> There was also a study done by Vanguard which showed that historically, dollar-cost averaging underperforms lump-sum investments which was just as interesting to me. I'd be very interested to read the study, but the only text I've found so far is this: https://investor.vanguard.com/investing/online-trading/invest-lump-sum https://investor.vanguard.com/investing/online-trading/inves... It seems logical to me that lump sum investing > dollar-cost averaging (which is why I do the former), but I'd be curious to see empirical research.