Greenblatt Returns - March 2008

A little late but here it is through March 31, 2008:

Jan 2008 MFI Return = -4.0% vs. Wilshire 5000 = -5.8%
Feb 2008 MFI Return = -0.2% vs. Wilshire 5000 = -3.6%
Mar 2008 MFI Return = +0.1% vs. Wilshire 5000 = -0.9
YTD 2008 MFI Return = -4.1% vs. wilshire 5000 = -10.0%

My MFI portfolio is currently 35% cash.

I did not make any changes to my MFI portfolio in March.

Current MagicFormula holdings:

3M (MMM)
Accenture (ACN)
Amgen (AMGN)
Applied Materials (AMAT)
Barr Pharmaceutical (BRL)
Cisco (CSCO)
Freightcar America (RAIL)
General Mills (GIS)
Hasbro (HAS)
Johnson and Johnson (JNJ)
Marathon Oil (MRO)
Microsoft (MSFT)
Pfizer (PFE)
Sara Lee (SLE)
Valero (VLO)
Verigy (VGY)

Double Bubble

The Washington Post has a good review of George Soros's take on the credit bubble.

One of his his suggestions is...

"The complex securities that are traded "over the counter" between banks, hedge funds and other players must be brought wherever possible onto exchanges, because this will reduce the pressure on the Fed to stage rescues. Bear Stearns was not too big to fail; it was, as The Economist has said, too entangled to fail: Its bankruptcy would have stranded holders of billions of dollars of its securities with nobody on the other side of their contracts. When trading moves onto an exchange, the exchange itself guarantees the contract. One impetus to Fed rescues can thus be neutralized."

The full article can be found here.

His book can be found here.