Buffett Says Hedge Funds Get ‘Unbelievable’ Fees for Bad Results

  • Billionaire says pensions, endowments should shun hedge funds
  • Wall Street profits through salesmanship abilities, he says

Buffett, Cohen, and Loeb Lead Hedge Fund Attack

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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