Warren Buffett：Berkshire 2023 Letter, Excerpt 3

************ Writers find it useful to picture the reader they seek, and often they are hoping to attract a mass audience. At Berkshire, we have a more limited target: investors who trust Berkshire with their savings without any expectation of resale (resembling in attitude people who save in order to buy a farm or rental property rather than people who prefer using their excess funds to purchase lottery tickets or “hot” stocks).

Source： https://www.berkshirehathaway.com/letters/2023ltr.pdf
Locator：2023 Chairman's Letter, excerpt 3 · Verified：2026-10-19 · Verification：Short excerpt

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