Q1 2016 has been a rollercoaster ride on the global markets and therefore disciplined thinking has paid off well. The overall mood of global markets at the end of March was considerably different to January, however, it is interesting to think that the reasons quoted for the January sell off have not been solved. An Asset Allocation approach demands that we buy when asset prices fall so at the end of January we bought equities in our discretionary portfolios. This means that the recovery experienced in late February and March was quicker for these clients. This is much easier said than done as buying in January was hardly an easy decision. More on this below.