Bonds Continued

·        "Bonds had become a dumb -- a really dumb -- investment compared to American equities" or stock, he said.

·        So, in 2012, Buffett and Seides dumped their Treasury bonds and used the money to buy B-class shares of Buffett's Berkshire Hathaway (BRKB).

·        By the end of the bet, the Berkshire shares were worth $2,222,279 -- about $1.2 million more than they'd hope to earn with the bonds.

·        In short, the "purportedly 'risk-free' long-term bonds" ended up being a "far riskier investment" than common stocks.