1.What determines stock market valuations?

2. Is a stock's price primarily determined by the discounted sum of future cash flows, monetary policy, or fear and greed?

3. Is market timing possible using sentiment indicators such as put$/$call ratios and Investor's Intelligence surveys?

4. As a financial manager, to what extent would market timing be an effective strategy for high$-$income investors? Retirees? Explain your responses.