WARREN BUFFETT: OK, we’re at noon, roughly. I made this bet four years ago with a group at Protege Partners about the S&P versus — or an index fund — versus five funds of funds. And I told them at the time I’d put up the results every year. And as you can see — I can’t see it from here, but the first year they — it was a huge down year. And as you might expect, just like us, we beat the S&P a lot in a down year and the last three years, the S&P has beaten them, but we’re still a tiny bit behind the hedge funds at the end of four years.
2012: Update on Buffett's hedge fund bet.
2012: Update on Buffett's hedge fund bet.
2012: Update on Buffett's hedge fund bet.
WARREN BUFFETT: OK, we’re at noon, roughly. I made this bet four years ago with a group at Protege Partners about the S&P versus — or an index fund — versus five funds of funds. And I told them at the time I’d put up the results every year. And as you can see — I can’t see it from here, but the first year they — it was a huge down year. And as you might expect, just like us, we beat the S&P a lot in a down year and the last three years, the S&P has beaten them, but we’re still a tiny bit behind the hedge funds at the end of four years.