"You have to wonder how the bet would have fared had we not experienced the unprecedented reaction of central banks to the crisis. I don't know if Buffett had considered that, he's a smart guy, but it didn't seem like that was what the bet was about. If the market had been allowed to take a "more natural" course perhaps the funds would have looked better."

maybe you mean that over most 10 year periods you think he wouldn't have won the bet. that point is defensible. but this reads a little bit like "its not my fault an uncertain outcome happened"... well, that is how gambling works my friend.