Forrest, by your own admission, 90% are dogs, so averaging down is a very risky strategy. I wouldn't be surprised if some get away with it over short, one maybe two year periods - especially when the market is kind - but on a longer timeframe, I'd be amazed if there were many who made a net profit from averaging down into specs. I would have thought it's one of the golden rules that just about everyone - trader and investor alike - agrees on.
