Battle of the Brains: Market Portfolio 1, Fancy Hedge Fund 0 – By Steve Lowrie

Over a decade and after costs, which approach should come out ahead: investing in a simple, S&P 500 index fund, or a collection of five, hand-selected hedge funds?

According to a ten-year, $500,000 wager between billionaire and index-fund fan Warren Buffett versus hedge fund manager Ted Seides, the answer is: the index fund … by a landslide.

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