Warren Buffett Having Second Thoughts About Immortality

The Oracle of Omaha may be in his final decade of Oracle-ing.
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Warren Buffett hasn’t ruled out a sex change in an effort to cheat Death, but he’s also not counting on it to see him well into his second century. At least, not well enough to throw off salty similes with ease, nor well enough to adequately rub hedge fund managers’ faces in their collective failure to do better than those essentially doing nothing with their money. So while he’s happy to be doing some early planning for his 93rd birthday, he’s not ready to commit to being able to gloat over another high-profile humiliation of hedge funds 10 years hence.

"I think the Protege bet proved the point and has stimulated a re-evaluation of professional management. If I were to do another ten-year bet — and I regard that as the reasonable term for measurement — that would take me to 97 and not at the best point to write and talk about the results. There's no doubt in my mind, however, that the S&P 500 will do better than the great majority of professional managers achieve for their clients after fees….”

The bet with Buffett "is definitely not happening. I'm surprised because he came on CNBC offering another bet. After talking to him last week I thought there was a good chance," said Yusko in a phone interview Wednesday.

Disappointed though Yusko (and the rest of us) may be, the rest of the hedge fund industry could probably do without those negative annual headlines for the next decade; they’re generating plenty of them without silly contests. And Greg Abel, Todd Combs, Ajit Jain, Matt Rose, Ted Wechsler and whoever else Buffett might bring on as possible heir apparent before he goes completely potty must be downright ecstatic.

Warren Buffett decides not to do second wager against hedge funds, citing his age [CNBC]

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