Hedge Funder Who Lost Famous Buffett Bet Sticks to His Guns on Active Management

Seides assessed his chances of prevailing at 85%, but Buffett emerged the winner. Yet today Seides sticks to his guns: “If you went back to January 1, 2008, and made the same bet over 10 years, I think you’d win seven out of 10 times picking hedge funds,” he argues in the interview.

Seides’ decision process was crucial in that wager, and decision-making is a key part of his new book, “Capital Allocators: How the World’s Elite Money Managers Lead and Invest” (Harriman House- March 23, 2021).