Cedar, in a bull market dollar cost averaging can be an effective strategy for the longer term buy-n-hold position. In a long term bear market (now) this won't work- timing is the key, and being nimble.
In this next wave down of deflation, ALL assets will fall heavily in NOMINAL value- cash will appreciate relative to all asset classes. Of course some asset classes will fall quicker &/or harder than others giving the
impression of outperformance- but don't be fooled by this.
For the foreseeable future cash is the way to go above any asset class.
Ultimately fiat currency probably will die a death, but that is some way off.
What is happening now is another destructive wave of real wealth by way of falling asset prices- particularly equities- particularly so in the US, but it will be worldwide.
Chee
rs