Subject: Re: So my question is…
Why would anyone suggest they are no longer interested in elephants? They are. And that's what the cash is for, at around the same scale (relative to the size of the firm) as always.

It’s not that they are no longer interested; Warren says (words to the effect) there are no large acquisitions available anymore of the size that would move the needle.

Arguably the Apple position is one such, but that’s not what we think of when we talk “elephants.”