Nice Article and there's probably some truth to it.

One problem (IMO) ... To be a contrarian takes patience and and iron gut. Most people might have long term thinking but short term stomachs, which will kill you if you try to be contrarian, especially if you're averaging down a stock you already own.

If you decide to average down and put yet more money into your investment, it may take a couple of years before you're back to break even, even though your break even is lower than before. I'm not suggesting that you shouldn't do it but it's worth thinking about how your stomach will feel 8-12 months from now if there hasn't been much progress in the market.

another strategy might be to keep your core position and take a new trading position and buy and sell on swings ( I think we can all agree the market is volatile) ... this will lower your average cost and won't lock anymore of your capital in the same investment for a long time.

Or

You can take the contrarian approach on another company that you don't own that has been beaten up just as badly ... even if progress is slow you'll still be able to see some green on your screen when looking at your long positions. That's comfort food for the investor's gut for sure.

Smart investing is a lot more about keeping your gut happy so that you don't make bad decisions based on emotion.