- In 2007, Warren Buffett entered a million-dollar bet with the fund manager Protégé Partners that the S&P 500 would beat a basket of hedge funds over the next decade.
- His S&P 500 index fund compounded a 7.1% annual gain over 10 years, beating an average increase of 2.2% by the basket of funds selected by Protégé Partners.
- Buffett’s prize money will go to Girls Inc. of Omaha, Nebraska.
- Buffett has taken issue with hedge funds’ high fees and their promise of outperforming the market.
With 2017 over, Warren Buffett has sealed his victory over hedge funds in a bet he made a decade ago.
The Berkshire Hathaway chairman in 2007 bet $US1 million that the S&P 500 would outperform a selection of hedge funds over 10 years.
As of Friday, his S&P 500 index fund had compounded a 7.1% annual gain over that period. The basket of funds selected by…
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Latest CoreLogic home value results set scene for softer housing conditions in 2018 |
According to the CoreLogic December Hedonic Home Value Index results, national dwelling values slipped lower over the month, led by falls across Sydney, Darwin, Melbourne and Perth
The transition towards weaker housing market conditions has been clear but gradual and is likely to continue throughout 2018 according to CoreLogic head of research Tim Lawless.
Commenting on the results, Mr Lawless said, “From a macro perspective, late 2016 marked a peak in the pace of capital gains across Australia with national dwelling values rising at the rolling quarterly pace of 3.7% over the three months to November.”
“In 2017 we saw growth rates and transactional activity gradually lose steam, with national month-on-month capital gains slowing to 0% in October and November before turning negative in December.”
According to CoreLogic, the 0.3% fall in December was the catalyst…
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Brisbane is a first-home buyer’s dream – small but steady growth in what is still an affordable city
An improving economy and rising interstate migration rates have put Brisbane in a solid spot as affordability continues to drive demand
Queensland’s economy is on the up, and it’s inspiring interstate migration as buyers seek to capitalize on the affordable housing and stabilizing job market in this region.
“The established housing market, townhouses, and new land are very strong around Brisbane,” explains Matt Lewison, director at OpenCorp.
“There is a shortage of developable land for new housing within 30km of the Brisbane CBD. Still, it’s lots cheaper than Melbourne and Sydney and very strong on the affordability index.”
The northern and eastern suburbs are doing very well, with townhouses in close proximity to the CBD recording low vacancies. Thus Lewison expects growth to pick up in this area as residents grow more confident about the state’s economic prospects.
The positivity extends into the Brisbane-Gold Coast corridor, where sales levels are…
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