The 'Oracle of Omaha' made a wager a decade ago that will finally pay off. :
A decade ago, the investor made a bet for a cool $1 million with a hedge fund manager that a low-cost S&;P 500 index fund would fare better than a collection of a Protégé Partners hedge funds. On Friday, the bet was officially sealed in Buffett's favor when the closing bell rang at the New York Stock Exchange. The final tally, according to The Wall Street Journal, saw Buffett's fund have a compounded 7.1 percent annual return, compared to his opponent's 2.2 average return.