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Berkshire Agm Transcribed Buffett Proves… etfs beat active money managers

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The highlight of this segment of the Berkshire AGM comes towards the end when chairman Warren Buffett delivers a masterclass in why Exchange Traded Funds are always going to outperform actively managed portfolio managers. It's a subject about which the Oracle of Omaha is hugely passionate - and one where he took a $1m personal bet to prove the point. And prove it he certainly has. Eight years into a ten year challenge against the best Wall Street could offer, the performance by Buffett's simple S&P500 Index tracker is smashing Hedge Funds - by a staggering 40 percentage points (65% vs 22%). Also in this segment you'll find Buffett and Munger's position on the controversy around their close ally, the Sequoia Fund, which invested 30% of its clients' assets into the Valeant "chain letter" scheme; reasons why the Berkshire Hathaway conglomerate will never be dismantled; and why most big banking stocks are likely to be poor investments into the future.

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