The Money Mustache Community
General Discussion => Welcome and General Discussion => Topic started by: FiftyIsTheNewTwenty on January 05, 2018, 01:23:43 PM
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"With 2017 over, Warren Buffett has sealed his victory over hedge funds in a bet he made a decade ago. The Berkshire Hathaway chairman in 2007 bet $1 million that the S&P 500 would outperform a selection of hedge funds over 10 years.
As of Friday, his S&P 500 index fund had compounded a 7.1% annual gain over that period. The basket of funds selected by Protégé Partners, the managers with whom he made the bet, had gained 2.1%, according to The Wall Street Journal. Buffett agreed to give the prize money to Girls Inc. of Omaha, Nebraska, a nonprofit he has previously supported."
https://fee.org/articles/warren-buffett-won-a-decade-old-1m-bet/ (https://fee.org/articles/warren-buffett-won-a-decade-old-1m-bet/)
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So after fees the hedge fund did as well as a CD. That has to be humiliating.
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another one has taken him up on the same bet. they'll never learn.
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It just makes me sad that they dupe hard working people into going along with their high fee, low performance bullcrap.