Buffett's bracket challenge

[JuleZ '02 HEEL]

So I know y'all remember when Warren Buffett offered a billion dollars for a perfect bracket a few years ago. Apparently he's kept that going in a scaled-back form for Berkshire Hathaway employees.

They have a chance to win $1 million per year for life by picking the first and second rounds correctly, or a single $1 million payout for the first round alone. The last man standing each year gets $100k. (This year's winner of the $100k only missed the first-round prize by one game - SCar/Marquette.)

http://money.cnn.com/2017/03/21/new...racket-competition/index.html?iid=hp-grid-dom

What blew my mind is the throwaway comment in the last line of the article. Of the company's 367,000 employees, less than 100,000 entered a bracket. With at least one person getting six figures, a long shot at F.U. money, and no cost to enter, why would you NOT take a stab at it every year?

 

[nctransplant]

So I know y'all remember when Warren Buffett offered a billion dollars for a perfect bracket a few years ago. Apparently he's kept that going in a scaled-back form for Berkshire Hathaway employees.

They have a chance to win $1 million per year for life by picking the first and second rounds correctly, or a single $1 million payout for the first round alone. The last man standing each year gets $100k. (This year's winner of the $100k only missed the first-round prize by one game - SCar/Marquette.)

http://money.cnn.com/2017/03/21/new...racket-competition/index.html?iid=hp-grid-dom

What blew my mind is the throwaway comment in the last line of the article. Of the company's 367,000 employees, less than 100,000 entered a bracket. With at least one person getting six figures, a long shot at F.U. money, and no cost to enter, why would you NOT take a stab at it every year?

Idiots....and I thought this was going to be a Jimmy Buffet thread

 

[Raising Heel]

What blew my mind is the throwaway comment in the last line of the article. Of the company's 367,000 employees, less than 100,000 entered a bracket. With at least one person getting six figures, a long shot at F.U. money, and no cost to enter, why would you NOT take a stab at it every year?

 

[Hark_The_Sound_2010]

Seems like a pretty smart move from Buffett - the value of the free publicity he gets from doing this greatly surpasses the money he pays out.

I like these contests/bets he makes. He crushed the egos of several hedge fund managers by betting them a million dollars that they wouldn't be able to outperform a simple S&P 500 index fund (bought and held) over a 10 year period - and he smoked them all with that bet.

Seems very stupid, but not at all surprising, that close to 3/4 of the people eligible don't submit a bracket. I sure as hell would if I were an employee of his.

 

[TarHeelMark]

Yeah not sure why you wouldn't submit one. My company has about 10k employees worldwide and we are having a contest with some decent prizes (big screen tv, beats headphones, etc), but only about 250 people submitted a bracket. Even if you go straight chalk, it's free people! Take a shot.