«Though there are thousands of professionalinvestmentmanagers who have amassed staggering fortunes by touting their stock - selecting prowess, only one man — Ted Seides — stepped up to my challenge,» Buffet said in his letter, signed Feb. 25.
Investments in a mutual fund are selected and monitored by a professional portfolio manager who decides when to buy and sell the investment held by the fund, based on the fund's investment objectives.