The reputation of Wall Street Hedge Fund managers continues to take hits. These are not the smartest people in the world, they are some of the luckiest. They get to make tons of money while their investors, well, not so much. To prove this Warren Buffet made a big bet.
The other side of the bet was Ted Seides who acknowledged the high fees but felt a good Hedge Fund would compensate for the high charges.
|Hm, who was President When this Happened?|