ML-Implode News - Warren Buffett's 3 Most Profitable Pieces Of Advice

Buffett bet a company called Protege Partners a decade ago that he could get superior returns by simply investing in a bargain-priced stock-index fund, which held a static portfolio. Protege assembled a portfolio of un-named actively managed hedge funds.
In the early years of the bet, Protege's funds did well, then fell behind and never caught up, weighed down by huge investment fees. The hedgies were creamed by a do-nothing fund: The index fund returned 126% over the decade, compared to a pathetic 27% for the hedge funds.
...
Buffett's moral: "Performance comes, performance goes. Fees never falter." You can buy nearly the entire stock and bond markets through index funds. Don't spend more than 0.15% annually for management fees.

We're sure QE had nothing to do with the unusually-high gains of stocks during the time period (and remember that Uncle Warren directly advised Congress on TARP...)

Relevant:

Warren Buffett's 3 Most Profitable Pieces Of Advice