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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. By the end of 1988, the Berkshire share price was approximately?
(a) $5,500.
(b) $1,000.
(c) $8,000.
(d) $2,500.

2. Warren's philosophy for purchasing stocks included all but:
(a) anticipation of short-term price movements.
(b) honest and competent management.
(c) decent stock price.
(d) favorable long-term prospects.

3. By the 1990s, Buffett was worth:
(a) $620 million.
(b) $250 million.
(c) $500 million.
(d) $1 billion.

4. Buffett looked for stocks:
(a) that had an attractive annual report.
(b) that was owned by people he knew.
(c) whose value was greater than its price.
(d) that had a product he believed in.

5. Which of the following is not part of Buffett's guide to selecting stocks?
(a) doing his own market analysis.
(b) ignoring macroeconomic trends and forecasts.
(c) stocks within one's circle of competence.
(d) trading on tips.

Short Answer Questions

1. In Warren's view, the managers of other people's money:

2. Buffett told his partners all but the following:

3. How long did Buffett go without buying any common stock after the Cap Cities deal in 1985?

4. What was not a characteristic of a performance fund?

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

(see the answer key)

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