Capital Allocators – Inside the Institutional Investment Industry The Bet with Buffett (Capital Allocators, EP.05)
6 snips
May 2, 2017 
In this engaging conversation, Patrick O’Shaughnessy, a savvy investor and host of the Invest Like the Best podcast, joins Ted Seides to discuss his legendary bet with Warren Buffett. They explore the nuances of hedge fund performance versus the S&P 500, shedding light on the lessons learned from the wager. Topics include the challenges of defining skill in investing, the evolving landscape of hedge funds, and the significance of personal connections at Berkshire Hathaway meetings. Expect insights on market dynamics and the impact of emotions on investment strategies!
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First Berkshire Meeting
- Ted Seides' first Berkshire Hathaway meeting was in 2000 as an equity research analyst.
- He recalls a smaller venue packed with hedge fund managers, contrasting with the larger, more entertainment-focused meetings of later years.
Bet's Origin
- Ted Seides' bet with Warren Buffett originated from a student's question about hedge fund performance.
- Seides, seeing an opportunity, wrote Buffett a letter, sparking a series of communications that led to the bet.
PR and Bet Results
- Despite losing the bet, Seides believes the PR was beneficial for Protégé Partners due to the association with Buffett.
- Buffett's public acknowledgment of the bet's results varied over the years, especially during periods of market downturn.
