The concept of dollar-cost averaging (DCA) started in the early 20th century, was popularized by Benjamin Graham in the 1920s and formally introduced in his 1949 book The Intelligent Investor. Financial institutions later helped make the strategy popular among retail investors in the 1950s and 1960s as mutual funds became more common.
- Origins: The idea of DCA began to take shape in the early 1900s, with financial institutions introducing programs for automatic savings purchases.
- Popularization: The strategy was formally named and popularized by Benjamin Graham, the father of value investing, who advocated for it as a way to remove emotion from investing.
- Public adoption: DCA gained widespread popularity with retail investors in the 1950s and 1960s, coinciding with the rise of mutual funds which often offered automatic investment plans.
- Core principle: The strategy involves investing a fixed amount of money at regular intervals to purchase assets, regardless of their price, which helps to average out the cost over time.
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