1. Warren Buffett Has Won his $1 Million Bet Against the Hedge Fund Industry

    Warren Buffett Has Won his $1 Million Bet Against the Hedge Fund Industry
    • In 2007, Warren Buffett entered a million-dollar bet with fund manager Protégé Partners that the S&P 500 would beat a basket of hedge funds over the next decade.
    • His S&P 500 index fund compounded a 7.1% annual gain over 10 years, beating an average increase of 2.2% by the basket of funds selected by Protégé Partners.
    • The prize money will go to Girls Inc. of Omaha.
    • Buffett took issue with hedge funds' high fees and their promise of outperforming the market...
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    1. My guess is that doubling down on a bet with Warren Buffett for the next 10 years would hold greater-than-even odds of victory.
    2. The S&P 500 looks overpriced and has a reasonable chance of disappointing passive investors.
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