Read these observations and then answer the question below the observations.

Observation I: BAM's $$3$ billion $($US Dollars$)$ investment was a complete setback and defeat for BAM.

Observation II: BAM lost all of its bargaining power with clients and filed for bankruptcy due to the heavy loss of $$3$ billion $($US Dollars$)$ investment.

Observation III: Since the $$3$ billion $($US Dollars$)$ investment was a catastrophe for BAM, it lost its leadership and market share to all global rivals in its market segment.

Question: Based on the BAM narrative, these observations are:

Accurate

Incorrect