demonstrates the disadvantage of being out of the market on the best 10 days, 20 days, 30 days, 40 days, and 50 days (North Central Trust Company, Fall 2002). The article, however, does not consider the impact of being out of the market on the worst 10 days, 20 days, 30 days, 40 days, and 50 days. It also implicitly conflicts with the concept of DCA, by assuming full investment at the beginning of the period less the identified days. This study first presents a literature review covering articles…
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