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Warren Buffett wins a $1M bet he made in 2007

The Oracle of Omaha won a $1M bet against hedge fund manager Ted Seides. Buffett believed a low cost S&P 500 index fund would do better than a high-ranking hedge fund. Yahoo Finance’s Alexis Christoforous, Editor-in-Chief Andy Serwer and Melody Hahm break down the bet and what it means for investors.