Buffett stings hedge funds over compensation

When asked about compensation in the hedge fund industry, Buffett said, "In all the professions there is value added by the professional, [but] in the investment world that isn't true." Active fund managers cannot do better than those that just sit tight, Buffett added. "The investing world is full of... dullision," says Munger.

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes