<p class="story-body-text story-content" data-para-count="215" data-total-count="246">Warren E. Buffett recently calculated that pension funds, endowments and wealthy individuals have lost approximately $100 billion over the last decade to hedge funds and other money managers that charge sky-high fees. “I believe my calculation of the aggregate shortfall is conservative,” Mr. Buffett wrote in his annual letter, released on Saturday to the shareholders of his conglomerate, Berkshire Hathaway.</p>