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https://warpcast.com/~/channel/valueinvesting
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Clujso (David)
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Walter Schloss was a true og — back in 1946 he shitposted under the Cogitator pseudonym in the Analysts Journal. A great post from him: “The Hippocratic Method in Security Analysis”. Cogitator proceeds to lay down parallels between medicine and investing:
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Clujso (David)
@d
In medicine ”The first element of that method is hard, persistent, intelligent, responsible, unremitting labor in the sick room, not in the library.” ”The second element is accurate observation of things and events; selection, guided by judgement born of familiarity, classification and methodical exploitation of recurrent phenomena.” ”The third is the judicious construction of a theory - not a philosophical theory, but a useful walking stick"
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Clujso (David)
@d
In securities analysis The first: Analysts should do hard work in the board room, not the sick room. The second: It’s surprising how little “exploitation of recurrent phenomena” analysts take advantage of, use data as much as possible. The third: We need theories that stem from observation, but appropriate in scope and pretensions. We must steer a middle course between starry eyed doctrinairism on the one hand, and vacillating opportunism on the other.
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