After the sharp rise in equity markets since the results of the US elections, we must ask ourselves if we should not sell shares/reduce the equity exposure and take profits. Indeed, since the beginning of the year, equity indices have risen by more than 5% on average, which is the return expectations of many investors for a full year. Stock prices are often close to historical highs or even at historical highs like many small Swiss stocks. And all banks are positive on equities, while mid-2016 they were negative on equities.

Political uncertainties such as French elections, or tensions with North Korea are potential catalysts for price declines that would be an opportunity to buy stocks lower. One is always smarter after the events ....