I agree. I recall reading somewhere that warren buffet took a bet with a hedge fund guy a d his premise was also that a hedge fund cannot beat S&P index over a long term .
But a sucker is born every minute and I think sliced will do well for itself.
The bet between Warren Buffett and New York based asset manager Protégé Partners is that in the 10 years starting January 1, 2008 Protégé’s five hedge funds of funds will give a higher averaged returns to investors (after all fees) compared to Buffet's choice of the S&P index fund Vanguard Admiral. As of June 2014, Buffet's pick is up by 43.8% while Protégé is up only 12.5%.
