[kareemsabri]

I believe your intuition is correct, and it just straightforwardly does help iron out short term volatility. What it de-risks is the likelihood the bottom arrives some time in the next year, at a point lower than today, and that you could have achieved a significantly lower average entry price by waiting. The risk it exposes you to is that it's already the bottom, and you're going to keep buying in on the recovery. So if you're long term optimistic but short term bearish, but lacking high confidence in your ability to call the bottom, DCA makes sense imho.

I don't know what the conjecture is that would make it not de-risking that, or what a proof would be, maybe GP will clarify.

It should be noted that many analyses of DCA versus lump sum are around the S&P 500 overall. In the case of highly volatile growth stocks or just single stock investing like Fred is discussing in the article, market timing risk is more acute, since the drawdowns are more severe (it is quite rare for the S&P 500 to drop 70-80%).

Shameless plus, I am the owner of a DCA investing app + a simulator tool to backtest DCA with different stocks, over different time periods

https://simulator.tryshare.app/