And yet hedge funds still tend to underperform the market. Warren Buffett once bet that over a 10 year period, the S&P 500 would outperform a portfolio of hedge

And yet hedge funds still tend to underperform the market. Warren Buffett once bet that over a 10 year period, the S&P 500 would outperform a portfolio of hedge funds (https://longbets.org/362/ https://longbets.org/362/). He won that bet.