It seems beginning investment books always teach dollar-cost-averaging.  While  there are far worse things you can do with your money, I see little reason for anyone to use dollar-cost-averaging.  My August column at Physician’s Money Digest addresses the subject this month in a piece called Dollar Cost Averaging Is For Wimps.  Here’s an excerpt:

Financial pundits often tout dollar-cost averaging (DCA) as a method to manage risk in the markets. However, they don’t mention that the risk this technique is managing is the investor’s own bad behavior. DCA does lower your risk, but just like other methods of lowering risk, it also lowers your expected returns.  There are better ways to lower investment risk more efficiently. – Read More! 

What do you think?  Do you routinely dollar-cost-average in lump sums?  Why or why not?  Comment below!