A Wager That Appears Just Too Big to Buffett
In the bet, made at the end of 2007, Mr. Buffett correctly wagered that several bundles of hedge funds selected by investor Ted Seides wouldn’t be able to outperform the S&P 500 over the ensuing decade. What Mr. Buffett didn’t mention directly in his letter is that Berkshire Hathaway didn’t outperform the S&P 500 over that stretch, either. Over the 10 years ended last year, Berkshire Hathaway returned an average of 7.7% annually.
Source:: https://finance.yahoo.com/news/wager-appears-just-too-big-050100774.html
