Active versus passive? That's an old battle. But the stakes have recently been raised: Can the S&P 500 beat a portfolio of funds of hedge funds? Warren Buffet says yes, when performance is measured net of fees, costs and expenses, and he's putting $1 million on that wager. His challenger: Protégé Partners, which is, well, a hedge fund of funds. Check out longbets.org for more.
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