March - Year to date returns

2018 is a difficult year so far. There're not sustained trends, there're a lot of reversal and most aggressive models are suffering.

The good news is that performances, even if negative, are no worrying so far. With most aggressive models that have an historical standard deviation of 8-9% a year, this result so far is in line with their style.

Let's be patient and wait the next trend to develop somewhere

APRIL ALLOCATION

Sorry for delay.
For personal purpose I had one month of holiday and I returned into the office only today.

I post the allocations only for historical tracking purpose.
With my personal portfolio I went on holiday with the defensive one, holding € govies and a bit of gold because I had one month completely off from news and markets