Please read the Warren Buffett case you received via email and prepare brief responses to the following questions: 1. Who is Warren Buffett? How would you describe the business of Berkshire Hathaway? 2. How well has Berkshire Hathaway performed? Over the long term? Recently? 3. How would you describe Buffetts investment philosophy? Do you agree or disagree with his philosophy? 4. Provide your assessment of Berkshires acquisition of Precision Castparts (PCP)? What is the meaning of the changes in Berkshire Hathaways Stock price when the acquisition was announced?

03:23 4- i lcxe *.air mi..me e, aw Rilames ba, bxwirg wla: yw'n d ie . 31. " Warren E Buffet 2015 Relutke Share Pasifuanca of Bekslie Hath way Clas A She, PCP, nd te htuny 1, 2015, 'o August 15, 2015 Exhiht 2 Warren EDuffett, 2015 Warren E. Butett, 2015 Hau Clas A Sharea versun S&P 500 Inde ovEr 39 Yean 1.00 Exhn Warren E, Butlet, 2015 Hasay Clss A ShreserS&P 500 Indes over 39 Yea L00 LDO e 108 1998 1994 1997 2000 2003 2006 2009 2012 Inc.Clas A-Price--INDEX) S&P S00-Price RKA S&P 00 | Year, Arnu-lized 12.8% 15 Year, Araualand | 9.5% 33 Years AnualaeT 22.8% 11.8% 125% an, Scanned with CamScanner Scanned with CamScanner UVA Pg 16 E Buflet, 2045 Warren E 51 12 Wanen E. Butlatt, 2015 03:23 4- i lcxe *.air mi..me e, aw Rilames ba, bxwirg wla: yw'n d ie . 31. " Warren E Buffet 2015 Relutke Share Pasifuanca of Bekslie Hath way Clas A She, PCP, nd te htuny 1, 2015, 'o August 15, 2015 Exhiht 2 Warren EDuffett, 2015 Warren E. Butett, 2015 Hau Clas A Sharea versun S&P 500 Inde ovEr 39 Yean 1.00 Exhn Warren E, Butlet, 2015 Hasay Clss A ShreserS&P 500 Indes over 39 Yea L00 LDO e 108 1998 1994 1997 2000 2003 2006 2009 2012 Inc.Clas A-Price--INDEX) S&P S00-Price RKA S&P 00 | Year, Arnu-lized 12.8% 15 Year, Araualand | 9.5% 33 Years AnualaeT 22.8% 11.8% 125% an, Scanned with CamScanner Scanned with CamScanner UVA Pg 16 E Buflet, 2045 Warren E 51 12 Wanen E. Butlatt, 2015