Warren Buffett：Berkshire Hathaway 1991 Letter, Additional Excerpt 2

Charlie and I frequently get approached about acquisitions that don't come close to meeting our tests: We've found that if you advertise an interest in buying collies, a lot of people will call hoping to sell you their cocker spaniels. A line from a country song expresses our feeling about new ventures, turnarounds, or auction-like sales: "When the phone don't ring, you'll know it's me."

Source： https://www.berkshirehathaway.com/letters/1991.html
Locator：1991 Chairman's Letter, additional excerpt 2 · Verified：2026-10-19 · Verification：Short excerpt

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