RE:RE:RE:BTE LEVEL 2 - WALL MOVED TO $5.41Ok thanks for that 1234 bmth. I stand corrected. I checked. You're right. Operating income is revenues minus expenses. So the money comes from the cash account in the statement of cash flows. So why is Buffet mostly against share buy backs? Probably because the net effect is to lower total assets. You have to convert assets into cash to buy shares that you'll just end up retiring and of no value to anybody.