I've never been one for gambling, but even I was tempted to back a very recent bet made by the Sage of Omaha, Warren Buffett.

He has staked a staggering $1m on the following wager: "Over a 10-year period commencing on January 1 2008, and ending on December 31 2017, the S&P 500 will outperform a portfolio of funds of hedge funds, when performance is measured on a basis net of fees, costs and expenses" (full details of this extraordinary bet can be viewed at www.longbets.org).