I am a Canadian, setting up an ETF-based RRSP in Questrade. Right now I have 70% of my portfolio in Canadian bonds, the other 30% of my portfolio is in cash, in USD. I am modelling my portfolio after the Canadian Couch Potato's conservative portfolio, so the 30% currently in cash was destined for equity. However, I can hardly stand the idea of buying equity right now, when it is at 52-week high nearly worldwide. In fact US equity (SPY) is at its all-time high. I am also worried that there is political risk in the US, to say it mildly.
In some ways I think it makes no difference, and that everyone that currently has equity and is not selling it is making the same choice I would be making (choosing to hold equity rather than something else). What do I do? Do I just bite the bullet and buy equity ETFs to round out my portfolio, despite the fact that the markets are at such a high?