Warren Buffett’s Early Success as a Hedge Fund Manager
In the late 1950s, Warren Buffett launched one of the first hedge funds with a modest amount of seed capital. Despite not beating the S&P 500 Index in 1958, he still managed to generate impressive returns for his investors. Buffett’s fees were based on a percentage of any outperformance he achieved, which incentivized him to strive for high returns.
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