Lecture $4-$ Stock market bubbles

A stock currently pays a dividend of $d1$ and is expected to grow at $3\%$ p$.$a$.$ The

risk$-$free rate is $2\%$ p$.$a$.$ and the company has a volatility of $20\%$ p$.$a$.,$ its correlation

with the market index is $0\mathrm{.}7.$ The market is expected to return $8\%p.a.$ and have a

that the coming time period's price will be ${?}_{|}{?}_{.}35.$ Assuming the market consensus is

correct, is there a bubble and if so how likely is this bubble to burst?

$"$If everyone knows that a stock is overvalued, it is not rational to buy this stock.

Hence too high prices cannot be sustained." Why is this statement wrong?

Lecture $6-$ Informed trading

What is the role of uninformed traders in the market and how do they make profits?

How do traders learn information?

Why are noise traders required to ensure $($partial$)$ market efficiency?