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"It (BYD) seemed to have his stamp of approval."

I am replying to this post, because I also have invested in BYD, following BRK's 10% investment. My (miniscule) move came while the stock languished around 3 about a year ago.

When BRK first invested through Midamerica, in this stock, Buff and Charlie talked about it at the annual meeting. Buff made a comment that I have not seen picked up anywhere. After Charlie gave a glowing summary of BYD's business, its management, and Munger's opinion that BYD's founder was a cross between Thomas Edison and Jack Welch(or something like this), Buff stated: "well, that's one of us." I have not seen a reference to what was obviously a dubious comment on the investment by Buff.

Consequently, I don't think that the investment did have Buff's stamp of approval. Still, if he positively disagreed, I think he would have told Munger and Sokol as much. I had the impression, that it was an investment that Buffett approved of, but on the strength of Munger's and Sokol's recommendation, and not upon his own evaluation.
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