U.S. millionaires would rather match the stock market through an exchange-traded index fund than try to beat it using higher-fee hedge funds or billionaire Warren Buffett’s holding company Berkshire Hathaway Inc.
Bloomberg – The SPDR S&P 500 ETF Trust surged to the No. 2 stock pick in an annual survey of the Tiger 21 investing network’s members scheduled to be released today. The security, which tracks the Standard & Poor’s 500 Index (SPX) and is offered by Boston-based State Street Corp., followed No. 1-ranked Apple Inc. and beat No. 3 Berkshire Hathaway after failing to make the top 10 last year.