FYI: The most interesting thing about the Warren Buffett vs. Ted Seides million dollar bet on hedge funds vs. the S&P 500 index bet is not the philosophical debate between active vs. passive investing, or high-fee vs. low-fee investment vehicles. It’s not which hedge funds Mr. Seides chose, nor is it Mr. Buffett’s choice of the S&P 500 instead of a total US stock market index, an all-world index, or his own conglomerate Berkshire Hathaway.
It’s what they chose to do instead with the million dollars.
Regards,
Ted
http://ritholtz.com/2017/05/interesting-thing-buffett-seides-bet/
