Warren Buffett Just Won Millions On A 10-Year Bet Against A Hedge Fund Manager
Warren Buffett is one of, if
not THE, most successful investors in history. The Chairman and CEO of
Berkshire Hathaway has been prophetic throughout the years and he’s
racked up a personal net worth of over $87.5 BILLION.
As of January 1st, 2018, Warren Buffett
has another reason to celebrate: he just won a 10-year-long bet against
former hedge fund president Ted Seides of Protege Partners, LLC. The
stakes were set for $2,222,278, the bet began on January 1st, 2008 and
ended on December 31, 2017. While $2.22 million is an absolute FORTUNE
to you or me, it’s chump change to Warren Buffett, but it’s not about
the money, it’s about winning the bet against one of his peers.
After 10 years, the index fund
returned 7.1% compounded annually while ‘Protégé funds returned an
average of only 2.2% net of all fees’ according to this article on Medium which talked about the decade-long bet.
(BroBible.com)
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