Buffett Says $100 Billion Wasted Trying to Beat the Market

Warren Buffett, the "investment guru", made a bet a decade ago that passive funds would outperform hedge funds.

Currently he estimates that about $100 Billion has been wasted in the US from active hedge funds. This is not only from the average under-performance of these hedge funds, but also from the high fees they charge investors, which offsets much of the profit for the investment portfolios, to the benefit of the hedge fund managers.

He will almost certainly win the bet when it ends in December.

Warren Buffett - Twitter.com

Warren Buffett - Twitter.com