Tag Archives: Warren Buffett

How to lose a $1million bet (and also how to compare apples and oranges)

Ted Seides, CIO of Protege Partners, explains why he’s losing his bet against Warren Buffett. The bet, for $1million, was over which would outperform over 10 years – an S&P500 index fund (Buffett’s choice) or a fund of hedge funds (i.e., what Protege Partners does). Now I want to point out, at the outset, that […]

John Steele Gordon: A Short History of the Income Tax (WSJ op-ed piece)

http://online.wsj.com/article/SB10001424052970204422404576594471646927038.html A Short History of the Income Tax One original sin was the separation of the corporate and personal tax, giving lawyers, accountants and the wealthy a chance to game the system. […] The other pernicious consequence of the separate corporate and personal income taxes has been a field day for demagogues and the misguided […]