I need some advice with regard to a big mistake a made in 2007.

 Here is essentially what happened:

 I bought 1,000 shares of FBALX at $21.15. A few weeks later, a distribution of $1.80 or so was distributed to shareholders (dividend, long-term capital gain and short term capital gain). The distribution was reinvested at the NAV after the distribution, but a bulk of my shares were purchased prior to the distribution. On top of that, I invested right before the stock market dropped some 15-20%. All in all, I am down about 8% in the fund right now. I am afraid that it may take years to break even since the fund does make large annual distributions (and small quarterly dividend distribution). I plan on adding more shares to my position AFTER this years distribution to lower my cost. However, is there anything I can do between now and then to help lower my cost. In my view, there is no reason to average down now since the big distribution is upcoming in a few months.

 Should I just have patience and let the reinvestments lower my cost and plan on adding some more shares after this years big distribution?

 Any advice?

 Full disclosure: I also own FAIRX, WWNPX, LLPFX