Subject: Re: BYD financial statements review
Hadn’t realised Berkshire has sold 2/3rds of the position. Thought it was less than that. Will have a look.

Regarding financing the business with creditors other than debt. Yes that seems to be what’s happening on the face of it. But I am intrigued as to how they can do that. Who is giving them this cheap source of finance? Trade creditors? Related party entities? CCP? I suspect its factor construction related. Anyway, just shows you why Buffett recommends us little people just buy an index.