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Buffett says hedge funds are a bad deal for investors
[Reuters] - Warren Buffett nibbled on sweets during his presentation to shareholders on Saturday but he took a bite out of hedge fund managers. The storied stockpicker - speaking at a table festooned with Berkshire Hathaway Inc-owned See's Candies at the conglomerate's annual shareholder meeting - suggested that "supposedly sophisticated people" and institutions are being fleeced by hedge funds and their backers. "There's been far, far, far more money made by people in Wall Street through salesmanship abilities than through investment abilities," Buffett said, citing a simple Vanguard Group index fund that tracks the S&P 500 index of large American companies.
Buffett says hedge funds are a bad deal for investors - Yahoo Finance
[Reuters] - Warren Buffett nibbled on sweets during his presentation to shareholders on Saturday but he took a bite out of hedge fund managers. The storied stockpicker - speaking at a table festooned with Berkshire Hathaway Inc-owned See's Candies at the conglomerate's annual shareholder meeting - suggested that "supposedly sophisticated people" and institutions are being fleeced by hedge funds and their backers. "There's been far, far, far more money made by people in Wall Street through salesmanship abilities than through investment abilities," Buffett said, citing a simple Vanguard Group index fund that tracks the S&P 500 index of large American companies.
Buffett says hedge funds are a bad deal for investors - Yahoo Finance
