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Noah Buhayar

Warren Buffett mocked executives who held back investments because of “uncertainty” in the economy and said he will probably accelerate capital expenditure at his Berkshire Hathaway this year.

“There was a lot of hand-wringing last year among CEOs who cried ‘uncertainty’ when faced with capital-allocation decisions despite many of their businesses having enjoyed record levels of both earnings and cash,” Buffett wrote in an annual letter to shareholders of Berkshire posted online March 1. “We will keep our foot to the floor and will almost certainly set still another record for capital expenditures in 2013. Opportunities abound in America.”

Buffett, the chief executive officer for more than four decades, said his Omaha, Neb.-based company spent $9.8 billion last year on plants and equipment as he bolstered railroad and utility units. That’s an increase of about 19 percent from the previous year, he wrote. read more »

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