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Ted Seides on the World’s Elite Money Managers
Masters in Business
The Irony of Warren Buffett's 2008 Annual Letter
In 2008, Warren Buffett made a statement in his annual letter about Berkshire having underperformed for the first period of time. He would put the results up right before lunch and say, as you can see, I'm losing. When to say anything else, then the first year the market had cumulatively beaten hedge funds. The irony is he was hedging the bet.
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