The stakes are high for Warren Buffet at Long Bets. His prediction:

Over a ten-year period commencing on January 1, 2008, and ending on December 31, 2017, the S & P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs and expenses.

And one million says he’s right. Long Bets new site offers a new way of finding resolutions to BIG issues. It is an arena for competitive, accountable predictions and a way to see what leaders think of world issues. Whoa. That’s a mouthful but it is a really fascinating site. Take a peek at the bets and the predictions.

A personal favorite is: By 2100 racism will no longer be a significant phenomenon in most countries of the world. That’s a long bet. And in 97 years we wont be around to see who won but here’s to hoping he wins the bet within the next few decades. Some other heavy bidders on the site include Wired’s Kevin Kelly, Warren Buffet and Ted Danson.

LongBets is a project of The Long Now Foundation which hopes to provide a counterpoint to today’s “faster/cheaper” mind set and promote “slower/better” thinking. And they want to do so by creatively fostering responsibility in the framework of the next 10,000 years. Takepart and check out longnow.org

Read the rest of this entry »