One way or the other, moments of very low economic policy uncertainty, according to Baker, Bloom and Davis, have been always dangerous moments for stock investors. The end of the dot.com boom was marked with a high level of confidence, for instance. So was summer 2007, shortly before the market started to melt down in the autumn.
Why is that? High level of confidence means a high level of complacency. This is synonymous to self-satisfaction and laziness. Complacency is the worst enemy of an investor. A complacent investor is on his way to the poorhouse (I'm emphasising "his" because it's mostly a male problem.)
I don't know when exactly and I won't give any recommendations to the public. Just thinking of what I may do sooner or later.
I may buy stocks during more tumultuous and uncertain times. Not that I'd wish for another Lehman bankruptcy, but distressed markets with discount prices are good opportunities.