But what of the voice and judgment of conscience? The difficulty is that we have a conscience behind our conscience, an intellectual one behind the moral. … We can see quite well that our opinions of what is noble and good, our moral valuations, are powerful levers where action is concerned; but we must begin by refining these opinions and independently creating for ourselves new tables of values.
Ethics occupies a central place in philosophy because it is concerned with sin, with the origin of good and evil and with moral valuations. And since these problems have a universal significance, the sphere of ethics is wider than is generally supposed. It deals with meaning and value and its province is the world in which the distinction between good and evil is drawn, evaluations are made and meaning is sought.nikolai berdyaev
Value stock returns are impossible to estimate using the traditional methods, because most of the excessive return arises from the slow improvement in valuations that occurs as doggy stocks become less doggy over time.