Warren Buffett wagers $1,000,000 on S&P 500

oracle of omaha

Warren Buffett, the world's richest man, made a bet with some high-falutin' hedge fund managers in NYC that they couldn't outperform the S&P 500 over the next 9 years. USA Today reports that the Oracle of Omaha put in $320,000 of his own money in the wager. I have no idea where the rest of the money ($680,000) will come from... The loser, be it Buffett or hedge fund nerds, must donate $1,000,000 to charity at the end of the contest.

My money is going with Buffett, literally... Every month I put a chunk of my paycheck into VFINX, the index fund that tracks the S&P 500.