Some investing clichés are more valuable than others

It happens once or twice a year, especially if the stock market has a relatively strong start: The phone rings, and a friendly client asks whether the time is right to reduce equity exposure. "Could be," we reply. "But why in particular are you asking?" "Well, you know the adage," they respond. "Sell in May and go away." From an adviser's perspective, this is the equivalent of a financial dad joke. It will elicit either a chuckle or a groan (depending on who's asking) and is destined to be forgotten...