sentences:  Two are pension funds with three and eight portfolio managers; Buffett asserts that he had influence in selecting value-minded managers and the overall strategy of the funds.The other six funds were managed by Buffett's business associates or people otherwise well-known to Buffett.The seven investment partnerships demonstrated average long-term returns with a double-digit lead over the market average, while the two pension funds, bound to more conservative portfolio mixes, showed 5% and 8% leads.