The bet was between Warren Buffett and hedge fund Protégé Partners LLC for a 10-year period. The hedge fund built an index of five funds that invest in hedge funds to compete against the S&P 500 index. The winner’s charity of choice gets $1 million when the bet ends on Dec. 31, 2007.
These are the performance numbers updated by Buffett during the shareholder meeting on Saturday.
|Year||S&P Index Fund||Hedge Funds|
The index fund is catching up after a deeper loss in 2008. It was lagging by only 0.38% after four years. Buffett did not comment the performance of the hedge fund so far this year. The S&P500 index is up 11.5% year to date.
To learn more about what Buffett said during the meeting, please go to the complete shareholder meeting notes.