Five years is a fairly long time to DCA and you would presumably park the rest of the money in a tbill ladder or even something slightly riskier. Not taking tha

Five years is a fairly long time to DCA and you would presumably park the rest of the money in a tbill ladder or even something slightly riskier. Not taking that into account is pretty significant considering the time period in question. ex 3 month tbills were yielding 12% at the start of the period. There is a fairly significant body of work around this idea by professionals in the field and a pretty well established set of trade offs between lump sum and DCA. This isn't really a "debunking" so much as it's a fairly naïve and uncharitable comparison of DCA vs LS.