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if we are evaluating two stocks with the same P/B, the one with                     the higher ROE is relatively undervalued, all else equal.

(Institute 391)

Institute, CFA. 2017 CFA Level II Volume 4 Equity. CFA Institute, 07/2016. VitalBook file.

所提供的引文是一个指南。请在使用之前查看每个引文以确保准确性。

请教大神这句话如何理解？
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关键词：Relatively Evaluating Institute Valuating Relative

justified P/B=(ROE-g)/(r-g)

all else equal是什么equal呢？r和g吗？这样P/B就不会一样了呀？？

求指教~~~

higher roe should have a higher PB ratio, but now both PB are the same therefore is undervalued.

zbf01 发表于 2017-5-7 09:19
higher roe should have a higher PB ratio, but now both PB are the same therefore is undervalued.

醍醐灌顶！！！thanks so much！！！