Warren Buffett：Berkshire 2021 Letter, Excerpt 2

Whatever our form of ownership, our goal is to have meaningful investments in businesses with both durable economic advantages and a first-class CEO. Please note particularly that we own stocks based upon our expectations about their long-term business performance and not because we view them as vehicles for timely market moves. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.

Source： https://www.berkshirehathaway.com/letters/2021ltr.pdf
Locator：2021 Chairman's Letter, excerpt 2 · Verified：2026-10-19 · Verification：Short excerpt

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