Investment (Warren Buffet Questions and Answers) 5

Question 1

Who did Berkshire name as Buffett's successor to become CEO?

Accepted Answer

Greg Abel

Answer

Greg Abel, head of Berkshire's non-insurance operations, was named Buffett's eventual successor.

Question 2

Buffett cautions that diversification is protection against ignorance and makes little sense if you:

Accepted Answer

know what you are doing

Answer

Buffett favors concentrated bets in businesses you understand well rather than broad diversification.

Question 3

Buffett bought a large stake in which iPhone maker, calling it one of Berkshire's best investments?

Accepted Answer

Apple

Answer

Berkshire built a massive Apple position starting in 2016 that became its largest equity holding.

Question 4

Buffett says it takes 20 years to build a reputation and ___ minutes to ruin it.

Accepted Answer

five

Answer

Buffett uses this quote to stress the fragility of reputation and the importance of integrity.

Question 5

When evaluating managers, Buffett looks for integrity, intelligence, and:

Accepted Answer

energy

Answer

Buffett warns that without integrity, the other two traits can be dangerous.

Investment Practice Test