2. Stock prices and intrinsic values Benjamin Graham, the father of value investing, once said, In the short run, the market is a voting machine, but in the long run, the market is a weighing machine. In this quote, Benjamin Graham was referring to the key difference between the price and the value of a security. In November 2006, Citigroups stock (NYSE: C) was trading at $49.59. Following the credit crisis of 20072008 and by the end of October 2009, Citigroups stock price had plummeted to $4.27. Several banks went under, and others saw their stock prices lose more than 60% of their value. Based on your understanding of stock prices and intrinsic values, which of the following statements is