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This quiz consists of 5 multiple choice and 5 short answer questions through Secrets of the Temple.

Multiple Choice Questions

1. In early 1967, Buffett advised his partners that:
(a) newer nutual funds achieved better returns than his did.
(b) the market was going to crash.
(c) he was changing the scope of the business.
(d) there was too much competition in the market.

2. What step did Buffett take in early 1966?
(a) began a new fund.
(b) closed the partnership to new accounts.
(c) quit the market.
(d) hired new analyst.

3. What was not a characteristic of a performance fund?
(a) short term perspective.
(b) sustained long term growth.
(c) making fast money.
(d) moving in and out of stocks.

4. Which of the following was not a reason why Warren didn't move to Southern California?
(a) he would have to change his routine.
(b) his anger at Susie.
(c) he would have to leave his long-time secretary.
(d) he didn't want to leave the familiarity of Omaha.

5. What did Buffett advise his partners of in May 1967?
(a) the partnership would go on without him.
(b) he was liquidating Buffett Partnership.
(c) he was turning Buffett Partnership into a Performance Fund.
(d) Buffett Partnership was facing huge losses.

Short Answer Questions

1. Susie's absence made life:

2. Buffett told his partners all but the following:

3. What stock did Buffett begin to buy in the fall of 1988?

4. What did Buffett do that was different with Hochschild and Associated Cotton?

5. What problems did Buffett have making investments in the mid-1960s?

(see the answer key)

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