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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. The Efficient Market Theory was popular because it:

2. The Efficient Market Theory says that:

3. One thing that Buffett did that resulted in many people leaving the firm was to:

4. What information did Jon Gutfruend withhold?

5. Buffett wanted his money to be used for:

Short Essay Questions

1. What did Buffett plan to do with his wealth when he died?

2. Why did Buiffett invest in Salomon?

3. What was one of the first things Buffett did at Salomon?

4. What were Buffett's views on hostile takeovers?

5. What are zero coupon bonds that were being used to finance LBO?

6. What kind of stocks did Buffett look for?

7. What did Susie do at the age of forty five?

8. How does Buffett describe the difference between his public and private lives?

9. Why wasn't Buffett adversely affected by the insurance market problems in 1985?

10. What was the newer Efficient Market Theory?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Who is Warren Buffett? How did he make his fortune? How does he differ from the other great American capitalists? What was his major strength?

Essay Topic 2

Buffett didn't like losses but like anyone in business, he suffered his failures and losses. How did Buffett deal with failures and business losses? What did they signify to him?

Essay Topic 3

Explain Buffett's attitude toward his wealth? Why was he so secretive? Why did he always tell his children that they would never have any of his money? How would you characterize the Buffett home?

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