Berkshire CEOs Spend Quietly, Match Buffett on Heinz Deal - Bloomberg: "Buffett, 82, relies on chief executive officers of the operating units to make deals and invest in plant and equipment to build the businesses and widen their competitive advantage. That helps slow the accumulation of cash and reduces the need for Buffett, Berkshire’s chairman and CEO, to find other uses for the money."
Berkshire shareholders should “delight” in the spending because Buffett and his deputies have a track record of using funds wisely, said James Armstrong, president of Henry H. Armstrong Associates, a Pittsburgh-based investment manager that oversees about $400 million, including Berkshire shares.
“You’re not going to see a lot of wasted money,” he said in a phone interview.
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