2016 2017 DW Trading Value (Mil. THB) Index DW Trading Value (Mil. THB) Recall: Option price consists of 2 components. Intrinsic value + Time (betting) value 5 Factor Calls Puts Note Asset price (S

and David Dodd in 1934 • Finding price-intrinsic value discrepancies in the market • Various price-based ratios and future stock returns ⋄ Earnings-to-price ratio (Basu, 1977) ⋄ Dividend-to-price ratio

intrinsic value of the assets and business based on historical and potential earnings and cash flow of the business. It has been valued by a range of valuation methods including relative valuation as

Meteorology was expected that the total rainfall in the Eastern part of Thailand will be higher than average by about 15% in May, and move closing to the average level in June. The average water in the

province is moderate. Water supply in the reservoirs was approximately to average water quantity of the past 10 years. The weather forecast of the Department of Meteorology was expected that the total

water quantity of the past 10 years. The weather forecast of the Department of Meteorology was expected that the total rainfall in the Eastern part of Thailand will be move closing to the average in July

is good. Water supply in the reservoirs was more than average water quantity of the past 10 years. The weather forecast of the Department of Meteorology was expected that the total rainfall in the

negotiation between the Company and the Seller and took into account the fundamental intrinsic value of the assets and business based on historical and potential earnings and cash flow of the business. It has

in Chonburi and Rayong province is moderate. Water supply in the reservoirs was approximately to average water quantity of the past 10 years. The weather forecast of the Department of Meteorology was

Department of Meteorology was expected that the total rainfall in the Eastern part of Thailand will be lower than average level about 20% during November 2019 – January 2020. The average water in the