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And Warren Buffet was wrong. The hedge fund manager made more money than what the customer would have done in an index fund.
by user5994461 8y ago
And Warren Buffet was wrong. The hedge fund manager made more money than what the customer would have done in an index fund.
- wpietri 8y agoI'm not following. Buffett won the bet. The portfolio of hedge funds did worse. If you're saying the hedge fund managers themselves make money, sure. That's Buffett's exact point: they pocket money, but that money isn't going to the customers, which is why the hedge fund portfolio's rate of return ends up lower than the index fund.