Warren Buffett：Berkshire 2022 Letter, Excerpt 2

Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.

Source： https://www.berkshirehathaway.com/letters/2022ltr.pdf
Locator：2022 Chairman's Letter, excerpt 2 · Verified：2026-10-19 · Verification：Short excerpt

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