Chanced upon this term called value averaging while reading The Four Pillars of Investing by William Bernstein. The man credited with value averaging Michael Edleson, introduced in his book with the same name. Dollar cost averaging helps you buy more when price is low, and less when the price is high. Value cost averaging claims to be able to do it even better. Suppose I have $1,200 to invest into an index fund. Using dollar cost averaging, I might choose to put in $100 every month over the course of 12 months. Here is a hypothetical scenario.

Month	Price	Number of units
1	10	10
2	20	5
3	25	4
4	20	5
5	10	10
6	25	4
7	20	5
8	20	5
9	10	10
10	5	20
11	5	20
12	20	5

The average price over the one year is 15.83, and the total ......