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Warren Buffett's bet on hedge funds vs. S&P 500

Ten years ago Warren Buffett made a bet against a hedge fund...
Flatulent Hospital
  06/11/18
Indeed, ten years ago Warren Buffett made a bet against a he...
Citrine exhilarant goyim goal in life
  06/11/18
Lmao
stubborn new version
  06/11/18
...
ruby sneaky criminal
  06/11/18
Pwn
Balding vivacious locus ratface
  06/11/18
...
Deranged avocado factory reset button area
  06/11/18
lol
Turquoise garrison personal credit line
  06/11/18
...
honey-headed fortuitous meteor
  06/11/18
I'd be curious though, if there are any hedge funds that hav...
Flatulent Hospital
  06/11/18
Madoff dominated the SP500
Marvelous pontificating friendly grandma puppy
  06/11/18
...
stubborn new version
  06/11/18
...
Deranged avocado factory reset button area
  06/11/18
Yep, I’d be curious though, if there are any hedge funds tha...
Citrine exhilarant goyim goal in life
  06/11/18
No doubt there are, somewhere, just like there are a few mut...
slap-happy arousing theatre
  06/11/18
Is this a joke question?
blue place of business business firm
  06/11/18
Medallion has returned like 30-40% annually for three decade...
Brilliant stage liquid oxygen
  06/11/18
Cr and charged like 5 & 40% or something crazy like that...
excitant saffron weed whacker
  06/11/18
That's probably the most poorly constructed headline I've ev...
Marvelous pontificating friendly grandma puppy
  06/11/18
lol @ u, waste of space hedge fund fraud
electric set
  06/11/18
what
Marvelous pontificating friendly grandma puppy
  06/11/18
...
stubborn new version
  06/11/18
I read his authorized biography, "The Snowball," b...
Flatulent Hospital
  06/11/18
Same
ultramarine casino windowlicker
  06/11/18
How do hedge fund managers justify their jobs if they don't ...
Flatulent Hospital
  06/11/18
same with stock brokers
electric set
  06/11/18
They could still have value in a portfolio by providing dive...
Brilliant stage liquid oxygen
  06/11/18
oh the value! LOL, really?
electric set
  06/11/18
Most people don't advise holding all stocks in a portfolio. ...
Brilliant stage liquid oxygen
  06/11/18
cr isn't that the definition of "hedge" fund Th...
Vigorous kink-friendly base indirect expression
  06/11/18
Lol at hedge funds stealing a page from the higher-ed scam p...
flickering mediation bawdyhouse
  06/11/18
wut?
lemon curious ladyboy
  06/11/18
Presumably there are circumstances they'll significantly out...
scarlet hideous gaping shrine
  06/11/18
I think the point is that you'd likely get the same or bette...
lemon curious ladyboy
  06/11/18
no, that's missing the point, entirely assuming the etf con...
lime kitchen organic girlfriend
  06/11/18
ummm so tell me how many of them outperformed the market...
cream free-loading trailer park
  06/11/18
The average hedge fund lost 18 percent of its value in 2008,...
trip walnut volcanic crater generalized bond
  06/11/18
...
medicated station dingle berry
  06/11/18
So only invest in hedge funds during a bear market? Is that ...
Flatulent Hospital
  06/11/18
I'm not sure how a hedge fund manager has trouble beating th...
blue place of business business firm
  06/11/18
idiot
lime kitchen organic girlfriend
  06/11/18
Guy who hasn't heard of Dunning-Krueger
thriller stead pervert
  06/11/18
Chelsea Clinton's kike husband was so bad at Hedge Funding h...
electric set
  06/11/18
Good thing he's got his wife's large salaries from jobs she ...
motley bisexual athletic conference orchestra pit
  06/11/18
the hedge fund industry is a fraud news at 11
cream free-loading trailer park
  06/11/18
...
Plum Sinister National Patrolman
  06/11/18
I suspect the media are selective in their coverage of Buffe...
Flatulent Hospital
  06/11/18
People don't always appreciate candor, in other words. Have...
Flatulent Hospital
  06/11/18
Hedge funds are lottery tickets for rich people
Plum Sinister National Patrolman
  06/11/18
...
lime kitchen organic girlfriend
  06/11/18
Top hedge funds often net like 25%+ a year return (consisten...
blue place of business business firm
  06/11/18
What funds consistently do this other than medallion
Brilliant stage liquid oxygen
  06/11/18
I think Soros did for decades
excitant saffron weed whacker
  06/11/18
idiot x2
lime kitchen organic girlfriend
  06/11/18
Not at all. There are a number of funds who produce those re...
blue place of business business firm
  06/11/18
Lol. Okay. So why didn’t the dude who made the bet just pick...
Disturbing principal's office
  06/11/18
oh, i'm sure he picked the equivalent of those at the time t...
lime kitchen organic girlfriend
  06/11/18
*buys RenTech Medallion Fund ETF*
dun church
  06/11/18
yeah, no they get considered 'top hedge funds' in retrospec...
lime kitchen organic girlfriend
  06/11/18
...
blue place of business business firm
  06/11/18
speaking of luck, within the last month or so, a hedge fund ...
lime kitchen organic girlfriend
  06/11/18
found it http://www.bloomberg.com/news/articles/2018-02-09/...
lime kitchen organic girlfriend
  06/11/18
If I remember correctly, Buffet let these high-finance clown...
Plum Sinister National Patrolman
  06/11/18
minuscule if you exclude fees.
Disturbing principal's office
  06/11/18
it kind of enrages me that so many ppl got filthy rich off this
cream free-loading trailer park
  06/11/18
...
hyperventilating floppy tanning salon
  06/11/18
Is the Warren Buffett/value method still applicable? Usually...
Flatulent Hospital
  06/11/18
"Buffett has had harsh words for Wall Street before. In...
Flatulent Hospital
  06/11/18
“When CEOs or investment bankers tout pre-depreciation figur...
Flatulent Hospital
  06/11/18
...
Purple domesticated sweet tailpipe son of senegal
  06/11/18
The best part about Berkshire Hathaway (BRK.A) (BRK.B) CEO ...
Flatulent Hospital
  06/11/18
“People who use EBITDA are either trying to con you or they’...
Flatulent Hospital
  06/11/18
There are apparently some hedge funds that consistently beat...
Flatulent Hospital
  06/17/18
Munger has also noted, "The investing world is just a m...
Flatulent Hospital
  06/17/18
I guess some people don't want to acknowledge that not every...
Flatulent Hospital
  06/17/18


Poast new message in this thread



Reply Favorite

Date: June 11th, 2018 1:24 AM
Author: Flatulent Hospital

Ten years ago Warren Buffett made a bet against a hedge fund manager, that an S&P 500 index fund would beat a group of hedge funds over a ten year period. The S&P won by a wide margin. The proceeds of the bet, something like $2.2M, went to a local charity in Omaha. There have been some news articles on the bet, but they mainly focused on the charitable aspect of it, and studiously ignored the elephant in the room, the question of what purpose hedge funds serve if they can't beat the S&P 500?

https://dealbreaker.com/2018/05/hedge-funds-didnt-lose-that-bet-to-warren-buffett-because-passive-indices-will-always-beat-active-managers-over-the-long-term-but-because-they-just-picked-the-wrong-decade-to-bet-on/

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221646)



Reply Favorite

Date: June 11th, 2018 2:09 AM
Author: Citrine exhilarant goyim goal in life

Indeed, ten years ago Warren Buffett made a bet against a hedge fund manager, that an S&P 500 index fund would beat a group of hedge funds over a ten year period. The S&P won by a wide margin. The proceeds of the bet, something like $2.2M, went to a local charity in Omaha. There have been some news articles on the bet, but they mainly focused on the charitable aspect of it, and studiously ignored the elephant in the room, the question of what purpose hedge funds serve if they can't beat the S&P 500?

https://dealbreaker.com/2018/05/hedge-funds-didnt-lose-that-bet-to-warren-buffett-because-passive-indices-will-always-beat-active-managers-over-the-long-term-but-because-they-just-picked-the-wrong-decade-to-bet-on/

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221815)



Reply Favorite

Date: June 11th, 2018 2:10 AM
Author: stubborn new version

Lmao

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221826)



Reply Favorite

Date: June 11th, 2018 5:32 AM
Author: ruby sneaky criminal



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221920)



Reply Favorite

Date: June 11th, 2018 5:34 AM
Author: Balding vivacious locus ratface

Pwn

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221923)



Reply Favorite

Date: June 11th, 2018 10:15 AM
Author: Deranged avocado factory reset button area



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222409)



Reply Favorite

Date: June 11th, 2018 10:27 AM
Author: Turquoise garrison personal credit line

lol

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222480)



Reply Favorite

Date: June 11th, 2018 3:22 PM
Author: honey-headed fortuitous meteor



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224595)



Reply Favorite

Date: June 11th, 2018 1:45 AM
Author: Flatulent Hospital

I'd be curious though, if there are any hedge funds that have consistently beat the S&P. Otherwise they look rather foolish.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221708)



Reply Favorite

Date: June 11th, 2018 1:58 AM
Author: Marvelous pontificating friendly grandma puppy

Madoff dominated the SP500

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221780)



Reply Favorite

Date: June 11th, 2018 2:05 AM
Author: stubborn new version



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221796)



Reply Favorite

Date: June 11th, 2018 10:15 AM
Author: Deranged avocado factory reset button area



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222411)



Reply Favorite

Date: June 11th, 2018 2:08 AM
Author: Citrine exhilarant goyim goal in life

Yep, I’d be curious though, if there are any hedge funds that have consistently beat the S&P. Otherwise they look rather foolish.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221813)



Reply Favorite

Date: June 11th, 2018 10:19 AM
Author: slap-happy arousing theatre

No doubt there are, somewhere, just like there are a few mutual funds that beat the market. But you'll never identify them until afterwards so what's the point?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222436)



Reply Favorite

Date: June 11th, 2018 2:29 PM
Author: blue place of business business firm

Is this a joke question?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224259)



Reply Favorite

Date: June 11th, 2018 2:33 PM
Author: Brilliant stage liquid oxygen

Medallion has returned like 30-40% annually for three decades

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224279)



Reply Favorite

Date: June 11th, 2018 2:38 PM
Author: excitant saffron weed whacker

Cr and charged like 5 & 40% or something crazy like that and investors still knifed each other in the street to BEG to suck Jim Simons' wrinkled old mathcock.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224313)



Reply Favorite

Date: June 11th, 2018 1:58 AM
Author: Marvelous pontificating friendly grandma puppy

That's probably the most poorly constructed headline I've ever seen. Pretty shit article too

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221776)



Reply Favorite

Date: June 11th, 2018 2:00 AM
Author: electric set

lol @ u, waste of space hedge fund fraud

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221783)



Reply Favorite

Date: June 11th, 2018 2:01 AM
Author: Marvelous pontificating friendly grandma puppy

what

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221786)



Reply Favorite

Date: June 11th, 2018 2:05 AM
Author: stubborn new version



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221798)



Reply Favorite

Date: June 11th, 2018 2:07 AM
Author: Flatulent Hospital

I read his authorized biography, "The Snowball," but there wasn't anything useful in it.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221808)



Reply Favorite

Date: June 11th, 2018 2:54 AM
Author: ultramarine casino windowlicker

Same

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221861)



Reply Favorite

Date: June 11th, 2018 2:10 AM
Author: Flatulent Hospital

How do hedge fund managers justify their jobs if they don't beat the S&P?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221824)



Reply Favorite

Date: June 11th, 2018 2:12 AM
Author: electric set

same with stock brokers

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221829)



Reply Favorite

Date: June 11th, 2018 2:20 AM
Author: Brilliant stage liquid oxygen

They could still have value in a portfolio by providing diversification.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221839)



Reply Favorite

Date: June 11th, 2018 2:20 AM
Author: electric set

oh the value!

LOL, really?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221840)



Reply Favorite

Date: June 11th, 2018 2:27 AM
Author: Brilliant stage liquid oxygen

Most people don't advise holding all stocks in a portfolio. It's the same idea.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221847)



Reply Favorite

Date: June 11th, 2018 10:00 AM
Author: Vigorous kink-friendly base indirect expression

cr isn't that the definition of "hedge" fund

That's the theory at lease, in practice I'm sure they're all shysters

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222329)



Reply Favorite

Date: June 11th, 2018 10:51 AM
Author: flickering mediation bawdyhouse

Lol at hedge funds stealing a page from the higher-ed scam playbook. DIVERSITY IS ARE STRENGTH, don’t you dare question it.

Seriously though I’m all for being evaluated on the basis of soft, unfalsifiable claims even in the face of Flagrantly, Singularly Relevent Quantitative Metrics of Performance, so godspeed fellas.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222609)



Reply Favorite

Date: June 11th, 2018 10:52 AM
Author: lemon curious ladyboy

wut?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222617)



Reply Favorite

Date: June 11th, 2018 3:08 AM
Author: scarlet hideous gaping shrine

Presumably there are circumstances they'll significantly out perform; you're not using a hedge fund to just "beat the market". If you're an investor in a long-vol fund, you might be happy just being par for a few years if eventually the market conditions (major crash) hit and you get insane returns.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221865)



Reply Favorite

Date: June 11th, 2018 10:03 AM
Author: lemon curious ladyboy

I think the point is that you'd likely get the same or better "insane returns" by just putting your money into an ETF

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222343)



Reply Favorite

Date: June 11th, 2018 2:36 PM
Author: lime kitchen organic girlfriend

no, that's missing the point, entirely

assuming the etf consists of multiple companies, then its primary purpose is to minimize variability and minimize expenses, at least compared to the hedge fund approach

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224292)



Reply Favorite

Date: June 11th, 2018 10:32 AM
Author: cream free-loading trailer park

ummm

so tell me how many of them outperformed the market when the crash of '08 happened

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222516)



Reply Favorite

Date: June 11th, 2018 10:54 AM
Author: trip walnut volcanic crater generalized bond

The average hedge fund lost 18 percent of its value in 2008, the industry's worst performance on record and down from an average gain of 9.96 percent in 2007, according to Hedge Fund Research. The only other negative year on record was in 2002. But even then, funds only lost an average of 1.45 percent.

Still, compared with the wider market, hedge funds don't look so bad. The Dow Jones industrial average lost 34 percent in 2008, while the Standard & Poor's 500 index fell 38 percent.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222628)



Reply Favorite

Date: June 11th, 2018 10:57 AM
Author: medicated station dingle berry



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222646)



Reply Favorite

Date: June 11th, 2018 11:43 AM
Author: Flatulent Hospital

So only invest in hedge funds during a bear market? Is that what you're saying?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222964)



Reply Favorite

Date: June 11th, 2018 2:24 PM
Author: blue place of business business firm

I'm not sure how a hedge fund manager has trouble beating the S&P 500. It's honestly not that difficult unless you're selecting stocks from a list with your eyes closed and do zero research.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224235)



Reply Favorite

Date: June 11th, 2018 2:36 PM
Author: lime kitchen organic girlfriend

idiot

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224296)



Reply Favorite

Date: June 11th, 2018 11:49 PM
Author: thriller stead pervert

Guy who hasn't heard of Dunning-Krueger

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228290)



Reply Favorite

Date: June 11th, 2018 2:21 AM
Author: electric set

Chelsea Clinton's kike husband was so bad at Hedge Funding he got fired a couple years ago, despite his connections

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36221842)



Reply Favorite

Date: June 11th, 2018 2:41 PM
Author: motley bisexual athletic conference orchestra pit

Good thing he's got his wife's large salaries from jobs she too is unqualified for to fall back on

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224326)



Reply Favorite

Date: June 11th, 2018 10:31 AM
Author: cream free-loading trailer park

the hedge fund industry is a fraud

news at 11

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36222512)



Reply Favorite

Date: June 11th, 2018 2:13 PM
Author: Plum Sinister National Patrolman



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224158)



Reply Favorite

Date: June 11th, 2018 2:09 PM
Author: Flatulent Hospital

I suspect the media are selective in their coverage of Buffett because he's sometimes irreverent and somewhat disparaging of "the system" or "the game," as it is currently constituted.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224125)



Reply Favorite

Date: June 11th, 2018 2:10 PM
Author: Flatulent Hospital

People don't always appreciate candor, in other words. Have to keep up the illusion.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224142)



Reply Favorite

Date: June 11th, 2018 2:17 PM
Author: Plum Sinister National Patrolman

Hedge funds are lottery tickets for rich people

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224199)



Reply Favorite

Date: June 11th, 2018 7:57 PM
Author: lime kitchen organic girlfriend



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226413)



Reply Favorite

Date: June 11th, 2018 2:21 PM
Author: blue place of business business firm

Top hedge funds often net like 25%+ a year return (consistently) so if he beat a group of hedge funds using an index fund, they obviously weren't top hedge funds.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224223)



Reply Favorite

Date: June 11th, 2018 2:34 PM
Author: Brilliant stage liquid oxygen

What funds consistently do this other than medallion

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224283)



Reply Favorite

Date: June 11th, 2018 2:44 PM
Author: excitant saffron weed whacker

I think Soros did for decades

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224337)



Reply Favorite

Date: June 11th, 2018 2:37 PM
Author: lime kitchen organic girlfriend

idiot x2

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224308)



Reply Favorite

Date: June 11th, 2018 3:13 PM
Author: blue place of business business firm

Not at all. There are a number of funds who produce those returns on a consistent basis.

Do some research.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224539)



Reply Favorite

Date: June 11th, 2018 3:21 PM
Author: Disturbing principal's office

Lol. Okay. So why didn’t the dude who made the bet just pick those?

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224588)



Reply Favorite

Date: June 11th, 2018 3:24 PM
Author: lime kitchen organic girlfriend

oh, i'm sure he picked the equivalent of those at the time the bet was made

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224606)



Reply Favorite

Date: June 11th, 2018 6:55 PM
Author: dun church

*buys RenTech Medallion Fund ETF*

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226029)



Reply Favorite

Date: June 11th, 2018 3:22 PM
Author: lime kitchen organic girlfriend

yeah, no

they get considered 'top hedge funds' in retrospect

since you are the expert, name some of these funds that consistently beat the market

while you're at it, posit a reason why they are able to beat the market consistently

there are only three reasons that come to mind that can explain it

1 luck

2 insider knowledge

3 riskier than the market

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224592)



Reply Favorite

Date: June 11th, 2018 3:24 PM
Author: blue place of business business firm



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224612)



Reply Favorite

Date: June 11th, 2018 3:44 PM
Author: lime kitchen organic girlfriend

speaking of luck, within the last month or so, a hedge fund made a mega killing by betting on a 1 in a (very large number) phenomena. i thing it was based in missouri? my google skills are letting me down. a perfect example of 1 and 3 and big brass balls.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224749)



Reply Favorite

Date: June 11th, 2018 7:56 PM
Author: lime kitchen organic girlfriend

found it

http://www.bloomberg.com/news/articles/2018-02-09/vix-surge-hands-8-600-profit-to-a-tiny-hedge-fund-in-colorado

"Not everyone got crushed when the market collapsed.

For traders at a little-known Denver hedge fund who saw it coming, it was the score of a lifetime -- a $17.5 million payday on a $200,000 bet.

“People were laughing at us, saying this could never happen, this should never happen,” Justin Borus, the 41-year-old founder and manager at Denver-based Ibex Investors, said in an interview. “We saw people pricing this as a 1-in-5,000 event, but it was more like a one-in-five-year event.”

Borus’s team bet that an exchange-traded fund linked to a calm stock market would go to zero in the event of suddenly volatile trading. The ETF almost did -- it lost 96 percent of its value."

Justin BorusSource: Ibex Investors

Borus said they always believed in the wager, even when just about no one else did. But the jackpot still caught them by surprise. Two of the group -- Ari Rubin and Cooper Stainbrook -- were taking a long walk around the Colorado capital when the market started to go haywire on Feb. 5."

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226405)



Reply Favorite

Date: June 11th, 2018 3:25 PM
Author: Plum Sinister National Patrolman

If I remember correctly, Buffet let these high-finance clowns choose the "best" funds so it wasn't like they didn't have every opportunity to select the "real" hedge funds that would consistently beat the indexes. I'd like to see long-term charts of the three funds you just listed. I know a couple of the Medallion funds have been amazing performers. The number of funds that have consistently beaten the indexes over a long period (15-20+ years) has got be be tiny.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36224616)



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Date: June 11th, 2018 6:11 PM
Author: Disturbing principal's office

minuscule if you exclude fees.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36225829)



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Date: June 11th, 2018 6:52 PM
Author: cream free-loading trailer park
Subject: it kind of enrages me that so many ppl got filthy rich off this

racket

but the gig is about to be up

i become more convinced by the day that the key to becoming obscenely wealthy is to aggressively practice borderline fraudulent behavior

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226009)



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Date: June 11th, 2018 7:58 PM
Author: hyperventilating floppy tanning salon



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226432)



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Date: June 11th, 2018 8:10 PM
Author: Flatulent Hospital

Is the Warren Buffett/value method still applicable? Usually by the time *you* learn about it you've missed the boat already. You have to be in the right place at the right time, and prepared to take advantage of the situation.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36226520)



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Date: June 11th, 2018 11:31 PM
Author: Flatulent Hospital

"Buffett has had harsh words for Wall Street before. In last year’s letter, he called investment bankers and others who advise on corporate deals short-sighted and opportunistic, arguing that Wall Street bankers often push for deals that are not in the best interests of companies just to make a fee."

http://fortune.com/2016/02/27/warren-buffett-wall-street-earnings/

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228196)



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Date: June 11th, 2018 11:35 PM
Author: Flatulent Hospital

“When CEOs or investment bankers tout pre-depreciation figures such as EBITDA as a valuation guide, watch their noses lengthen while they speak,” writes Buffett.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228215)



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Date: June 11th, 2018 11:52 PM
Author: Purple domesticated sweet tailpipe son of senegal



(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228303)



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Date: June 11th, 2018 11:37 PM
Author: Flatulent Hospital

The best part about Berkshire Hathaway (BRK.A) (BRK.B) CEO Warren Buffett's annual investor letters is that they always provide some kind of reality check.

This year, in one sentence, he takes on one of the biggest diversion tactics of all -- one promulgated by many companies as the way they should be viewed and then gullibly accepted by investors: EBITDA or earnings before interest, taxes, depreciation and amortization.

"When Wall Streeters tout EBITDA as a valuation guide, button your wallet," he wrote.

https://www.thestreet.com/story/12463644/1/greenberg-buffett-tells-investors-to-get-real-about-ebitda.html

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228219)



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Date: June 11th, 2018 11:43 PM
Author: Flatulent Hospital

“People who use EBITDA are either trying to con you or they’re conning themselves."

-Warren B.

“I think that, every time you see the word EBITDA, you should substitute the word ‘bullsh*t’ earnings.”

-Charlie Munger

https://www.forbes.com/sites/brentbeshore/2014/11/13/ebitda-is-bs-earnings/

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36228250)



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Date: June 17th, 2018 12:33 AM
Author: Flatulent Hospital

There are apparently some hedge funds that consistently beat the S&P, but they're closed. No new investors. Those managers must be genuinely brilliant or have some special insight.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36258703)



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Date: June 17th, 2018 12:43 AM
Author: Flatulent Hospital

Munger has also noted, "The investing world is just a morass of wrong incentives, crazy reporting and, I'd say, a fair amount of delusion."

https://www.fool.com/retirement/2018/01/08/warren-buffett-just-won-a-10-year-million-dollar-b.aspx

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36258748)



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Date: June 17th, 2018 5:50 PM
Author: Flatulent Hospital

I guess some people don't want to acknowledge that not everyone is going to be above average.

(http://www.autoadmit.com/thread.php?thread_id=3998907&forum_id=2#36261763)