(Business Insider) It’s 2013, and that means that Warren Buffett is 5 years into a bet he made against two hedge fund managers at New York based fund Protege Partners.
Back in 2008, Buffett told Ted Seides and Jeffrey Tarrant of Protege that funds that invest in hedge funds for their clients would not beat the S&P 500 over ten years. The loser of this bet has to donate $1 million to the winner’s charity of choice on December 31st, 2017.
Right at this very moment, Buffett is still winning. That may not be too surprising, since according to hedge fund tracker HFR, hedge funds returned an average of 5.5% in 2012.