Warren Buffett seems to be winning his bet with hedge fund shop Protégé Partners over whose strategy will deliver higher returns over a decade. Buffett has famously taken the passive approach. However, it would be a mistake to dismiss alternative and active investments at this point in time. Alternative investments and active management strategies can respond to market trends quickly and even pivot into more liquid vehicles if necessary, writes Jeff Benjamin. And new theories and strategies are retooling active management investments.

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