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If you had made a lump sum investment the day before the crash in 1929 you would have regretted it, and it would have taken years for your investments to recover.

DCA versus lump sum has been debated for a long time and there is really not a clear answer or expert consensus on the subject.

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Alternatively, you could have cautiously DCA-ed your lump sum in 12 monthly pieces, and then the 1929 crash happens the day after the 12th and final piece was invested.

DCA cannot save us from a crash, though it can reduce the fear of a crash to the point where we actually make an investment rather than sit on the sidelines.

There is absolutely expert consensus (among quants) that DCA _if you have the full lump sum up-front_ makes no sense. It's math.

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