The latest edition of Graham and Doddsville Revisited, "All Stocks, All The Time?", in 3 parts, begins at: Message 6978045 . It's a rather long-winded defense of dollar-cost-averaging into an all-stock-portfolio, regardless of price levels. However, some may find interesting part 2 of 3, which presents a rough calculation of the outcome of dollar-cost-averaging into IBM and Wal-Mart, begun in the worst possible year in each case, 1987 and 1992, respectively.
And, some may enjoy the play-by-play commentary, appearing in part 3 of 3, on an interview of Warren Buffett conducted by Adam Smith on Public Television a few years ago.
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