> dollar cost averaging is less preferable when you have a single lump sum This is mathematically true. Psychologically less so, and that's because of loss ave

> dollar cost averaging is less preferable when you have a single lump sum This is mathematically true. Psychologically less so, and that's because of loss aversion. DCA helps you avoid the unfortunate case where the market tanks right after you've invested everything. In this situation, people can panic, pull out at considerable loss, etc. As a retail investor, the most challenging part of investing is psychology, and DCA can help in that regard.