Woe unto them that call evil good and good evil Woe unto them that call evil good and good evil There is a customary mode of talking, in which familiar formulas of praise and censure, as to moral objects, are employed as if by rote, revolving the admission of important principles, and recognising in its full extent the grand distinction between moral good and evil. Such men will speak familiarly of other men and of their acts as right or wrong, as virtuous or vicious, in a manner which implies not only preference of judgment, but of inclination; so that if we draw conclusions from their language merely, we should certainly infer that they not only understood the principles of sound morality, but loved them and obeyed them. The latter conclusion would, in too many instances, be found to be erroneous, not because the person, in his talk, was guilty of deliberate hypocrisy, or even intended to deceive at all, but because his words conveyed more than he meant, especially when phrases used of course, and by a sort of habit, came to be subjected to the rules of a strict interpretation. In all such cases it will soon be found, upon a little observation, that the dialect in question, however near it may approach to that of evangelical morality, is still distinguished from it by indubitable marks.
The piece resonated immediately. No matter what the decision to be made, the solution will almost assuredly be better if the decision is based on truth knowledge rather than ignorance. It is hard to make good decisions when you are unaware of—or unwilling to accept—the relevant facts and circumstances.
This is certainly true for investment decisions, in part because their consequences have a direct impact on the economic options for the ultimate beneficiary.
All too often, investment professionals are unwilling or unable to pursue and act on knowledge that would lead to better investment outcomes for their clients.
The investment management industry tends to emphasize product, and its invariably linked goal of beating the benchmark, over education and counseling. Ignorance Ignorance is often used as a severely pejorative term. Ignorance is merely a lack of knowledge, education, or awareness. By this definition, we must all live with the fact that we are ignorant in many areas, so ignorance in and of itself is not necessarily a problem.
I and my colleagues would cheerfully acknowledge our ignorance of the latest innovations in medicine. Accordingly, we routinely seek the advice and counsel of doctors for medical issues.
Merely seeking help from random medical professionals is not sufficient, however. I am likely to get better medical advice if I make the effort to learn something about my options, such as the credentials and specialties of the doctors under consideration.
The key distinction is knowing when knowledge is necessary and, conversely, when a lack of knowledge is dangerous. Too often, capital market participants have little knowledge of how markets work, how to make investment decisions, or how to manage their portfolios.
But this practice ignores the reality that alpha, the return attributable to skill, is incredibly scarce. As an example, in Burt Malkiel analyzed the equity mutual funds that were in existence in To be sure, alpha may be achieved—but only for a scant few.
So, why do nearly all investors and professional investors continue to pursue returns from active management, an exercise shown to be suboptimal for investment performance?
One reason is ignorance—the lack of awareness of, or inability to accept, the well-researched data that may, at first, conflict with standard practice.
Too often in our industry, people seek the safety of conventional wisdom. Some of the other more prevalent ones are: The sources of long-term equity returns are well-documented, so we know that dividends are the dominant contributors. How can trillions of nest egg dollars be invested with such a blind eye to reasonable and logical expected returns?
Efficiency of Cap-Weighted Indexes. Cap-weighted indexes represent the most reasonable and accurate manner to measure the performance of an asset class like equities.
The collective returns of all investors will match the cap-weighted index. But, are these benchmarks the most effective way to build a portfolio? Only if we assume that prices are efficient.
If they are not, do we really want to own more of a stock that doubled in price? Or, in bonds, should we really lend more to the most indebted?
The literature of the past several years indicates there are opportunities for improvement.
Yet tracking error to cap weights still dominates most investment decisions. Often, our ignorance is directly attributable to our experience set.
Mainstream stocks and bonds dominate most allocations despite the fact that these two primary pillars fare poorly in an inflationary environment. Choose Truth Clients rely on investment professionals to make sound decisions on their behalf, and thus would be better served if we chose truth, not ignorance, in fulfilling our fiduciary duties.Can moral propositions be true or false?
‘Yes’ with an ‘if’ or ‘No’ with a ‘but’ but moral propositions can nevertheless be true or false and the truth of those moral propositions is relative (to culture, to the assessor true relative to a comparison class.
What Technique Does Auden Use to Tell the Story in ‘1 September ’? Auden met his true love, the poet Chester Kallman, Love is a recurrent theme in Auden’s poetry but so are many others such as world war two, politics, indifference, nature or time.
Therefore, we could ask ourselves how important love is in Auden’s poetry.
Responsibility and Moral Ignorance. For the ODFF, September Gideon Rosen. I. Skepticism about Moral Responsibility The aim of this note is to explore a neglected argument for skepticism about moral responsibility. So if determinism is true, you are responsible for doing A only if you are responsible for a series of arbitrarily remote. My son explained that this was the centerpiece in a series he was doing on “Truth vs. Ignorance.” Ignorance, that is the lack of knowledge and/or insight, is often a contributor to prejudices, biases, and bad decisions, he said. This is certainly true for investment decisions, in part because their consequences have a direct impact on. Satire is a genre of literature, and sometimes graphic and performing arts, in which vices, follies, abuses, and shortcomings are held up to ridicule, ideally with the intent of shaming individuals, corporations, government, or society itself into improvement. Although satire is usually meant to be humorous, its greater purpose is often constructive social criticism, using wit to draw.
Headache and Brain-sickness. — Headache is diverse, say physicians, according to the causes:— There is a headache called the megrim, henzi-crania, possessing lightly one side of the head, and distinguished by a seam that runs along in the skull.
Moral Responsibility and Ignorance* MichaelJ. Zimmerman I Doris has just driven her car into a tree. She's unconscious, slumped While this may be true of Perry, it is not true of all responsible agents.
After all-this is the stock example-a drunk It is the failure to know the truth. This can come about only by way of a failure. Christ Our Truth. Search this site. The ONE & ONLY TRUE God.
The Plan of Salvation. God's Invisible Church [God's Truth & Spirit Filled People] John "But the hour cometh, and now is, when the true worshippers shall worship the Father. with a Defense of the Veil of Ignorance Alex Miele Claremont McKenna College Political theories are created by identifying basic moral principles and developing these political theory could tell the government how to handle this question, one does not simply want.