The final Discussion focuses on the Warren Buffett case and your observations and analysis of Buffett's investment approach to acquiring and valuing a company. Please respond to the following three questions in a paragraph for each and respond to at least two of your colleagues' responses. Your responses should reflect on the course content as it relates to each question.

1) What areas of Warren Buffett's investment philosophy are consistent with the theory of modern finance, as presented in this course?

2) What are some aspects of Buffett's investment philosophy that disagree with principles of modern finance? (For example, Buffett's view on diversification and efficient markets).

3) What did the stock market seem to be saying about Berkshire Hathaway's acquisition of Precision Castparts (PCP)? Do you agree or disagree?