a. In early 2015, the market values of the shares of many banks (e.g., Bank of America

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a. In early 2015, the market values of the shares of many banks (e.g., Bank of America or Citigroup) were less than book value per share. How would you interpret this pattern?
b. At the same time, Google's market value per share was more than four times its book value. Is this consistent with your analysis in part (a)?
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Fundamentals of Corporate Finance

ISBN: 978-1259722615

9th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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