~*~Mining and Metals Du Jour~*~

[JohnCM]

Ten years ago, just as the world was about to enter the financial crisis, Warren Buffett famously bet $1M that the S&P 500 would beat a basket of hedge funds over the next decade. Despite the vicious plunge in markets that shortly followed, the Oracle won the bet by a mile. Buffett recently told CNBC he would be willing to make that bet again - an offer quickly accepted by hedge funder Mark Yusko. However, in an email to Yusko, Buffett says he'll be 97 by the time the wager is decided, and will thus pass. Buffett: "[The] bet proved the point and has stimulated a re-evaluation of professional management ... There's no doubt in my mind, however, that the S&P 500 will do better than the great majority of professional managers achieve for their clients after fees."