Warren Buffett is confident--and patient. In 2008, just as things were about to crater in the financial world, Buffett buoyed investor confidence by proclaiming that the S&P 500 would continue to perform well. In fact, he said, the S&P would outperform hedge funds over the next decade, he predicted, despite the funds' alleged magic. Not only did Buffett say this, he bet on it. Putting the Vanguard 500 index up against a hedge fund index put together by Protege Partners, Buffett bet the managers of Protege a million bucks, which will go to charity.
Fortune is reporting that seven years into the bet, which ends in 2018, Buffett's choice is up 63.5%. Protege is up 19.6 %. Buffett's choice has won six years running.
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