Hedge Funds Didn’t Lose That Bet To Warren Buffett Because Passive Indices Will Always Beat Active Managers Over The Long Term But Because They Just Picked The Wrong Decade To Bet OnBy
As we all know, the ten-year battle royal between Hedge Funds and the Oracle of Omaha did not end well for the former. It was not close: Warren Buffett’s S&P 500 Index just about doubled between the beginning of 2008 and the end of 2017, Ted Seides’ basket of baskets of hedge funds (a.k.a. funds of hedge funds) gained about a quarter. It was so lopsided that Seides cried uncle months before the bet actually ended, while Buffett somewhat less-than-magnanimously said that he’d sooner entrust his massive wealth to a moldering corpse than to a stinking, thieving hedge fund manager…
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