Warren Buffett & the Billion Dollar Bracket
With March Madness about to kick off we wanted to take a second and discuss something at the intersection of sports and investing.
The odds of a non-sports fan picking a perfect bracket this March is about 9.2 quintillion to 1.* So you can probably say it’s a safe bet that Warren Buffett will not have to pay out the $1 Billion that he is offering to anyone that can. (Buffett agreed to personally underwrite the policy for Quicken Loans should anyone successfully predict all 63 winners in the Quicken Loans Billion Dollar Bracket Challenge).
But just in case you don’t win you may also want to consider Buffet’s advice to young investors in his recent shareholder letter and take a look at VOO.** You can analyze this ETF and 3,500 more stocks and ETFs on TradingMarkets Analytics. The reason he mentioned this fund specifically was due to the fact that it charges just 0.17 percent in annual expenses and owns the top 500 U.S. stocks by market capitalization including such as Apple, Exxon Mobil and Google.
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* The lowest odds quoted for a perfect bracket were about a billion-to-1 chance.