In 2008, $Berkshire Hathaway(BRK.B)$ Warren Buffett issued a challenge to the hedge fund industry, which in his view charged exorbitant fees that the funds' performances couldn't justify. Protégé Partners LLC accepted, and the two parties placed a million-dollar bet.The bet is that is any Hedge fund could beat the S&P500 for a period of 10 years, they will win $1M. Its safe to say, in 2017, Buffett has won the bet.Buffet has always been vocal and an advocator of low cost index fund. He mentions that anyone who invest in a low cost index fund will always outperform the market.Why should you invest in Index-Fund?Low CostIndex fund have expense ratio as low as 0.03%. Compared to picking Individual Stocks and hedge fund