The "Market Manias and Crashes" module, and Shiller's argument that the U.S. stock market is "excessively volatile" boil down to believing that there is some sort of "fair" or "fundamental" or "intrinsic" value of each individual stock. (i) Explain what "fundamental" value means. (ii) How is it usually calculated? (iii) Can you provide any facts to support the argument that this sort of calculation does represent the true value of a company's shares? Explain.