Buffett Winning Bet So Far, Charity Real Winner

By: The Associated Press Email
By: The Associated Press Email

Billionaire Warren Buffett's argument that high fees hurt investors is getting stronger because his chosen S&P 500 stock index fund is now outperforming a collection of hedge funds in a 10-year bet.

Buffett made the wager in 2008 with the money managers who own Protege Partners LLC.

After gaining 15.96 percent last year, Buffett's index fund now posts a total gain of 8.69 percent. The hedge funds recorded a 2012 gain of 6.46 percent. Over five years, the hedge funds have a 0.13 percent gain.

Fortune magazine reported the latest standings.

The winner will donate at least $1 million to charity. Buffett plans to donate to Girls Inc. of Omaha if he wins. Protege will donate to Absolute Returns for Kids if it wins.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WOWT NBC Omaha 3501 Farnam Street Omaha, NE 68131 (402) 346-6666 sixonline@wowt.com
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 188247311 - wowt.com/a?a=188247311
Gray Television, Inc.