Results are in for the sixth year of the competition sometimes called the $1 million bet, and Warren Buffett — once a piteous straggler in this 10-year wager on stock market performance — has opened up a sizable lead over his opponent, New York asset manager Protégé Partners….
At the end of 2013, Vanguard’s Admiral shares — the S&P index fund that’s carrying Buffett’s colors — were up for the six years that began Jan. 1, 2008 by 43.8%. For the same period, Protégé’s five funds of funds, on the average, gained only by an estimated 12.5% (a figure minutely uncertain because some of the funds lack final figures for 2013)….
“We’ve got our work cut out for us,” said Protégé’s Seides last weekend, as he contemplated the four years remaining in the bet. And on the next day of trading — that would be Monday — the stock market pitched downward, and, wherever they were, the shorts made money.
Buffett widens lead in $1 million hedge fund bet [Fortune via CNNMoney]