Given that, do you remember the banker from "Quoth the Banker" assignment? His brother Ralph is a stockbroker, representing clients from his posh Manhattan office. When asked the question, which valuation method do you prefer for bonds and stocks, he noted the following:"

"Valuation smaluation! If I want to know the value of any bond, or any stock, I just look online and immediately and look up the market price NOW. There is never any need to fiddle around with any mathematics to know what a stock or bond's value is- it is worth what it costs to purchase it on the open market."

Given what you know about stock and bond valuation, do you agree with the the banker's brother Ralph? In your post, note your preference, and explain your rationale and belief based on what you have learned about financial statements, net present value, and bond and equity valuation calculations.