If one increased the discount rate, one would also need to decrease the cash flow if a constant present value were to be maintained. True False No equity investor needs to understand valuation models because real-time market prices for equities are easy to obtain online. True False Nonrecurring events in reported earnings would not tend to bias reported earnings relative to sustainable earnings. True False The most recent market price can be stale for the many public equities that trade only infrequently. True False