Author: Vitaliy Dadalyan

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.


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Amazon will stop selling Nest smart home devices, escalating its war with Google (GOOG, AMZN)

Amazon decided not to sell any of the newer products from Google's smart home division Nest. Amazon currently sells a limited number of Nest products, but those will disappear from the site after it sells the inventory it has left. Nest decided to no longer work with Amazon selling the limited number of products it was selling on the site. It was an awkward phone call, but one the Nest team had been expecting.


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