Did the Oracle of Omaha, Warren Buffett really tell his minions to buy an index fund at a recent Berkshire Hathaway shareholder meeting?

Indeed. He basically told his shareholders to reduce expectations or get out by selling Berkshire.

Well Mr. Buffet, with all due respect, "Kiss my grits!"

I wonder if anyone had the gall to suggest the same to him when he was building his little empire back in the day. Now that he has built that empire, he now says that active portfolio management offers no real advantages.

Hogwash!

It may be a challenge to deliver superior returns day in and day out, but it can be done. There are values all over the globe that provide investors the opportunity to outperform the market indexes.

Why all of the negativity?

Maybe it has to do with his age and the fact that Mr. Buffett has always avoided investing in markets that he did not understand.

Well, too bad for him.

That philosophy has resulted in a style that has missed many opportunities in some very exciting markets. Indeed, such an approach is no different from an index fund, so I guess it makes sense that he would state such a thing.

Betting on Better Odds

For those who still believe they can and should outperform a static index fund, there are options aplenty.

One of the best is...