😃There was a time that I admired Buffett in the same way that people always admire the wealthy…with a flawed belief that they got where they are because they held some special skill or moral right to collect wealth.

I understand now that all but a few great fortunes are stolen…extracted from humanity in the forms of economic rents and services using monopolies and legal structuring to shut the door behind them and prevent competition.

Buffett’s virtue isn’t magnanimous investing… it’s his ability to extract profits at the expense of labor. His cash cow isn’t candy or furniture; it’s a set of laws that coerce people to buy his insurance and financial services.