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Long run returns in the USA stock market have been quite strong averaging 12% return...

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Finance

Long run returns in the USA stock market have been quite strong averaging 12% return per year. However, these returns are far from certain and vary from year to year. Considering what you have learnt about intrinsic value and what you have seen of the markets, do you think that average stock on the stock market are fairly priced? Give reasons for your answers.

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