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This quiz consists of 5 multiple choice and 5 short answer questions through Salomon's Court.

Multiple Choice Questions

1. As a child, Warren Buffett had a 'thirst' for __________.
(a) games.
(b) books.
(c) money.
(d) numbers.

2. How long did Buffett go without buying any common stock after the Cap Cities deal in 1985?
(a) three years.
(b) one year.
(c) eighteen months.
(d) six months.

3. In Warren's view, the managers of other people's money:
(a) had to have approval for any of their actions.
(b) had to responsibility to others.
(c) bore a heavy burden.
(d) could act as they want.

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

5. What did the Evening News do that resulted in an anti-trust suit?
(a) announced the publication of a Sunday edition.
(b) tried to force the Courier-News out of business.
(c) lowered prices.
(d) lowered prices below costs.

Short Answer Questions

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

2. His best childhood friend was___________.

3. The Efficient Market Theory says that:

4. Warren's philosophy for purchasing stocks included all but:

5. The head of Salomon was:

(see the answer key)

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