People

Ten years. Two contenders. One winner of a $1 million prize.

On one side, legendary investor Warren Buffett; on the other, fund of hedge funds operator Protege Partners. The battle? Whose net returns will be higher over the next decade: five of the world's most successful hedge funds ... or the passive Vanguard 500 Index Fund ?

Marina Del Rey, Calif. -- Psychologist Robert M. Taylor, author of the Taylor-Johnson Temperament Analysis Test, died at his home in California, the Los Angeles Times said. He was 88.

Los Angeles -- Real estate mogul Donald Trump reportedly is buying television personality Ed McMahon's Beverly Hills, Calif., house to save it from foreclosure.

Las Vegas -- Lon Kruger, who coached UNLV's men's basketball team to 57 wins the past two seasons, has been given a contract extension through 2013.

Salt Lake City -- Utah Jazz owner Larry Miller, who suffered a heart attack nearly two months ago, is out of the hospital and says he feels like he's been given "a clean slate."

Dublin, Ohio -- An Ohio federal judge ordered former National Century executives Donald Ayers and Randolph Speer to repay exactly $2,384,147,105.09 to investors.

Washington -- Paris Hilton has responded to presumptive Republican presidential nominee John McCain's ad comparing the heiress to Barack Obama with a campaign ad of her own.

Washington -- U.S. lawmakers said President George Bush is expected to sign a law banning lead and six types of phthalates in toys.

New York -- Former New York Mayor Ed Koch said rescue workers rushed to his apartment after he accidentally triggered his Life Alert pendant while sleeping.

Washington -- Former Federal Reserve Chairman Alan Greenspan says more U.S. and overseas banks may end up in government rescue plans.

Tokyo -- Japanese Prime Minister Yasuo Fukuda, faced with economic slowdown amid rising oil and food prices, Monday ordered an economic stimulus package.

Along with being the world's greatest living investor, Warren Buffett is an outstanding writer, a generous educator, and a reliable wit. His annual letters to shareholders, replete with investing insights both timely and timeless, nearly always include a number of well-delivered jokes.

Hartford, Conn -- Connecticut Attorney General Richard Blumenthal Wednesday sued three bond-rating firms for allegedly costing taxpayers millions of dollars.