Buffett makes a $1 million 9-year Long Bet with a fund of hedge funds 
"Over a ten-year period commencing on January 1, 2008, and ending on December 31, 2017, the S&P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs and expenses." No prizes for guessing which side of the bet Buffett is on. (And of course, being investors, they only really ponied up $320k each for the bet.) More here.
http://www.longbets.org/362
"Over a ten-year period commencing on January 1, 2008, and ending on December 31, 2017, the S&P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs and expenses." No prizes for guessing which side of the bet Buffett is on. (And of course, being investors, they only really ponied up $320k each for the bet.) More here.
http://www.longbets.org/362
