Buffett ha wagered roughly $320,000 of his personal money that S&P 500 will outperform a collection of hedge funds. The bet covers a decade and includes the condition that all fees, costs and expenses are included in the calculations. The bet concludes at the end of 2017.
The bet between Buffett and money managers who own Protege Partners LLC is outlined on the long bets web site.
One of the Protege's co founders, Ted Seides accepted the bet.
http://www.longbets.org/362#terms
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