So, yes, there’s been a history of terrible results, created most of all by the bet having started in the gut-wrenching year of 2008. Both contestants fell deep into the red then—with Buffett slammed the hardest. His index fund contender, Vanguard’s Admiral shares, lost 37 percent in 2008 versus a 24 percent drop, on the average, for investors in Protégé’s five funds of funds.
