Extracto de la entrevista a Buffett en la universidad de Peking (17 de febrero, 2017)

www.linkedin.com

Q9: About passive managed funds.

A: It has been 9 years since I made a 1 million bet with Protégé Partners, LLC. It is the largest bet on the website Longbets.org.

Over a ten-year period, I predicted that the S&P 500 will outperform a portfolio of hedge funds, when performance is measured on a basis net of fees, costs, and expenses.

2008 was the first year and the market went down a lot. The fund of hedge funds performed better than the index.

9 years later, the fund of hedge funds, invested in 7.200 hedge funds, has had a cumulative return of 22%. The index has yielded 86%. We are in a commanding 64% lead with one year to go.

Jedge fund get rich on fees. Wall Street sells you what you will buy. Hyperactivity is bad, “fees never sleep”

Read more...
Linkedin

Want to receive more content like this in your inbox?