In a brief and small summary please respond the following questions

Who is Warren Buffett, and why should anyone pay attention to him? How successful has he been?

What is the business of Berkshire Hathaway? How would you describe the company's strategy?

Below are the major elements of Buffett's investment philosophy. In your own words, what does each element mean?

Economic reality, not accounting reality

Account for the cost of the lost opportunity

Focus on the time value of money

Focus on wealth creation

Invest on the basis of information and analysis

The alignment of agents and owners is beneficial to firm value

What does the market seem to be saying about Berkshire Hathaway's acquisition of PCP?