The Bet With Buffett

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[00:02:08] – (First question) – Ted describes his first trip to a Berkshire Hathaway meeting

[00:03:20] – What is Ted most excited for when it comes to this year’s trip

[00:04:44] – How this now famous bet first came about

[00:05:48] – Had rocks, got rocks, fees in financial services

[00:07:16] – Structure and funding of the bet

[00:09:48] – How was PR handled from both sides of the bet

[00:12:55] – Berkshire Hathaway Shareholder Letter with Bet

[00:13:10] – Why was Ted willing to make this bet

[00:14:22] – Ted’s most recent piece on the bet/fees

[00:16:19] – Looking at the difference of exposures between the S&P 500 vs Fund of Funds

[00:19:08] – Exploring pricing of the S&P 500 over a long period of time

[00:22:04] – What should people take away from the bet

[00:27:12] – Can the more expensive, more exclusive investing strategies be replicated in a public market cheap alternative

[00:32:10] – At what level does it make sense to start looking at alternative level investment ideas

[00:35:03] – Are hedge funds an asset class or contractual arrangement, and what metric would Ted use if the bet were to be repeated

[00:40:13] – Knowing what he knows now, what are some of the changes Ted would make to this bet

[00:45:18] – The S&P is touted as a representation of the global economy but it only covers a fraction of it

[00:49:17] – Would Ted use fund of funds in a new bet

[00:52:52] – What was the most and least enjoyable part of this bet

[00:54:10] – What is another field of investing opportunities that Ted might not know as well that he is excited to explore

[00:56:54] – A closer look at deploying capital to buy smaller businesses

[01:00:42] – Resources for folks interested in deploying private capital

[01:03:02] – Bonus question about the S&P 500’s time-weighted return vs how volatility effects people’s holding in the index

[01:06:10] – How paper returns vs real returns in markets effect this equation of the bet