No. The real value of a security is determined by the equilibrium forces of an efficient market.
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No. The real value of a security is determined by the equilibrium forces of an efficient market. Assuming that the information provided on newly issued securities is accurate, the market will establish the value of a security regardless of the opinions rendered by the SEC, or, for that matter, opinions offered by any advisory service or analyst.
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Financial Management Theory And Practice
ISBN: 9780324259681
11th Edition
Authors: Eugene F Brigham, Michael C Ehrhardt
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