Well this is an old argument. Almost all prevalent as Emacs and VI.(but definitely not as old). I have seen lot of c++ developers providing lots of arguments on why most of the performance benchmarks (especially mentioning how java is as fast as c++__) is skewed and to be honest they have a point.
I do not have enough knowledge or time to go deeper in to how Java could be as fast as C++, but the following are the reason why it could be...
1- When you ask two very capable developers to write code in Java and C++ for a real world problem (same problem), then I would be surprised if java performs faster than C++. C++ when well written uses a fraction of memory Java will use. ( Java objects are slightly more bloated).
2- Java is inherently meant to be a simpler language and it was written to make sure that sub- optimal code is hard to write. By abstracting memory management and also by handling low level optimization, its easy to write good code in Java than c++. (this I believe is the most important thing.... Its difficult to write bad code in Java).On the flip side a good C++ developer could handle memory management much better than automatic GC in java. ( Java stores everything in heap, so uses more memory... )
3- Java compiler has been improved consistently and ideas like hotspot has proved to be better than marketing term. (when JIT was introduced, it was just a marketing term.. according to me.. :))
4- Ergonomics or tailoring the settings based on the underlying operating system parameters makes java handle variation better. So in some environments, its not hard to imaging Java performing as good as C++.
5- Opening up high level concurrency and parallelism api's for java developers also is a reason. Java concurrency package is arguably the easiest way to write high performance code that could leverage today's multi processor environments.
6- As hardware as become more and more cheaper, developer competency has become a bigger factor and that's why I believe that lots of c++ code in the wild is probably slower than Java.