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March 22, 2012

Buffett's $1M bet against hedge fund may pay off

By JOSH FUNK
AP Business Writer

OMAHA, Neb. — Billionaire Warren Buffett's chances of winning a bet that the S&P 500 stock index will outperform a collection of hedge funds are improving, but Buffett still trails the money managers four years into the 10-year bet.

Buffett has long been critical of hedge funds because of the high fees they charge investors, so Berkshire Hathaway's chairman and CEO wagered that an S&P 500 index fund would beat any 10 hedge funds over a decade if all the fees were included.


 
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