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7. Determining over-/under-valuation via using the “Back-of-Envelope Method to Expected Return”.
8. Summarize the investment philosophy of Warren Buffett in terms of asset selection (value versus growth), asset allocation, portfolio management, and so on. (1-page max)
9. Determine the Geico’s return on invested capital for the year 1995? Recall that the historical median ROIC of US companies has been 10% - 13% with a recent value of 13%. (1/2-page max)


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