The Buffet Bet

Warren Buffet has made a bet with Protege Partners (with the winnings going to charity). Buffet's bet is that an S&P 500 index fund will beat the results of a Fund of Funds hedge fund, after fees over the next ten years.

I think Buffet will probably win the bet and we can only hope he's around to see it. Funds of Funds are known in the business as Funds of Fees for a reason.