He doesn't address it. You're right. But oftentimes in business, especially when it comes to public statements pertaining to shareholders, you cannot be honest.

He doesn't address it. You're right. But oftentimes in business, especially when it comes to public statements pertaining to shareholders, you cannot be honest. As an example, suppose, BH is selling stocks and amassing more cash than usual in an attempt to shift investment into a new undervalued firm or commodity. Now, they need to research, investigate, double check, build a strategy, build a contingency plan, etc. etc. They cannot reveal this plan publicly before it is complete as that would drive up the price of any potential targets. Just an example.