Buffett Says Hedge Funds Get ‘Unbelievable’ Fees for Bad ResultsBy and
Billionaire says pensions, endowments should shun hedge funds
Wall Street profits through salesmanship abilities, he says
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said large investors should be frustrated with fees they’re paying hedge fund managers who fail to match the returns of index funds.
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