[fnid]

That is interesting. Warren has a bet out against someone that a portfolio of hedge funds will not outperform the total market returns after accounting for taxes, management fees, etc.

as diversity approaches 100%, performance approaches market returns.

The question is, how long can extreme wealth remain extreme wealth? Considering the wealth gap is increasing, I would suggest forever unless there is a "market correction" like socialism or something.

[chasingsparks]

If that was the case, you would expect there to be a few hundred-billionaires out there.

[Retric]

There are a few hundred billionaires out there. 5 billion barely get's you into the top 100.

[chasingsparks]

Hundred-billionaire as in an individual with greater than 100 billion; not a few hundred people with greater than 1 billion.