Warren Buffett has been on a roll lately with his betting on different outcomes such as his $1 Million NCAA Bracket and his recent win on his ten-year bet on the S&P 500 Index fund. Warren Buffett is known to be against gambling, but when he is the house he will generally play to win. Warren Buffett likes to win, and although a frugal and humble man by nature he cannot resist a good math challenge. Ten years ago Warren Buffett bet that the S&P Index Fund would outperform a collection of different hedge funds, and the Index Fund coughed up a %2.2 return.
This is excellent considering that Warren went into the bet during the height of the recession, and yet still managed to come out on top. Warren Buffett has been a supporter of Index Funds for a long time, and he specializes in hedging his bets on the right fund. Warren Buffett is always a betting man, although not a gambler and when it comes to making the right investment he always manages to succeed. The Warren Buffett hedge fund challenge was a winner in more ways than one though because a good deal of the money is going to charity, specifically the Girls Club. Inc. in Omaha, Nebraska.
The club will receive the much-needed funding it uses to provide tutoring, counseling and a host of other services to at-risk teen girls in the area. Warren Buffett has been a supporter of Girls Club Inc. for some time now and has verbally stood behind the club and the phenomenal services that they offer to the community. Warren Buffett has stuck true to his promise to the giving pledge and will continue donating much of his wealth to charity causes such as Girls Club and many others.