Please state whether you agree or disagree with the following statements and explain why very briefly:

1- "Since valuation models are quantitative, valuation is objective."

2- "A well-researched and well-done valuation is timeless."

3- "A good valuation provides a precise estimate of value."

4- "The product of valuation - the value- is what matters; the process of valuation is not important."

5- Critique this statement: "No equity investor needs to understand valuation models because real-time market prices for equities are easy to obtain online."