OMAHA, Neb. (AP) — Warren Buffett continues to hold the lead in his bet that most investors are better off in a stock index fund than in a sophisticated hedge fund that charges hefty fees.
After eight years of the 10-year bet, Buffett's chosen index fund holds a commanding lead over a collection of hedge funds even though the hedge funds performed slightly better in 2015.
The latest standings in Buffett's bet with the money managers who own Protege Partners were reported Tuesday by Fortune magazine.
The low-cost Vanguard S&P 500 Admiral index fund Buffett chose is up 65.7 percent since the bet began. Protege picked five funds that bundle hedge funds that are collectively up 21.9 percent, on average.
A charity of the winner's choosing will receive at least $1 million.