The ones that grow faster will be the winners. PE is not required. It arrives a value independent of exchange prices. FV and price often converge, which means its an accurate model.
Fair value either represents assets and Liabilities of a company or the price between buyer and seller. So the fair value has to be the current price. Nothing more.
Right, except when there is speculation. Therefore when you see price and fair value not converging, you know price discovery is occurring. If too long, its manipulation.
