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Essence of Value Investing: Intersection between Empiricism and Scholasticism

"As empiricists we give up the doctrine of objective certitude, we do not there give up the quest or hope of truth itself. We still pin our faith on its existence, and we still believe that we gain an ever better position towards it by systematically continuing to roll up experiences and think. For scholastics, the strength of his system lies in the principles, the origin, of his though; for us the strength is in the outcome, the end result. Not where it comes from but what it leads to is to decide."
-William James

"Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it even though others may hesitate or differ. You are neither right or wrong because the crowd disagrees with you. You are right because your data and reasoning is right." - Ben Graham

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