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This quiz consists of 5 multiple choice and 5 short answer questions through The Carpet Woman.

Multiple Choice Questions

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

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

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

4. What kind of stocks were most popular at this time?
(a) high tech.
(b) blue chip.
(c) huge conglomerates.
(d) small companies.

5. The Nebraska Furniture Mart was owned by:
(a) Katherine Graham.
(b) Seabury Stanton.
(c) Isadore Blumkin.
(d) Rose Blumkin.

Short Answer Questions

1. What did Buffett say he was putting his money into?

2. Warren worked on all of the following during this period:

3. The Evening News' rival newspaper was the:

4. Buffett began buying stocks:

5. What other kind of family-owned business did Buffet buy?

(see the answer key)

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