It’s good to learn from your mistakes. It’s better to learn from other people’s mistakes. - Warren Buffett

The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

When returns on capital are ordinary, an earn-more-by-putting-up-more record is no great managerial achievement. You can get the same result personally while operating from your rocking chair. Just quadruple the capital you commit to a savings account and you will quadruple your earnings. You would hardly expect hosannas for that particular accomplishment. Yet, retirement announcements regularly sing the praises of CEOs who have, say, quadrupled earnings of their widget company during their reign — with no one examining whether this gain was attributable simply to many years of retained earnings and the workings of compound interest.

It's class warfare. My class is winning, but they shouldn't be.