"The majority of the drop was due to investments in stocks and mutual funds."

Shocking I know, but Jon Show reports that the PGA Tour's reserves took a hit last year, though compared to Warren Buffett, they had a great year.

The PGA Tour ended 2008 with an estimated market value of $694 million in investments, representing a year-over-year decline of 27 percent from $947 million at the end of 2007.

The majority of the drop was due to investments in stocks and mutual funds. The tour ended 2008 with an estimated value of $401 million in mutual funds, down 35 percent from $614 million in 2007. The market value of the tour’s stock dropped 38 percent, starting the year at $128 million and ending at $80 million.