Which Two of the Following Are Factors That Explain Why

Multiple Choice

Which two of the following are factors that explain why many of the most respected investors pay little attention to macroeconomic forecasts when valuing companies?

A) Economists' projections for particular short- term macroeconomic trends are of little significance for long term value.
B) Economists' projections for particular short- term macroeconomic trends are little affected by an individual company's performance.
C) Value is determined more by microeconomic factors affecting the whole industry.
D) Value is determined by income flows to the shareholder over many economic cycles stretching over decades.