One of the Basic Premises of Security Analysis, and in Particular

One of the basic premises of security analysis, and in particular fundamental analysis, is that

A) market sectors do not move in concert with business cycles.
B) a security's risk has relatively little effect on the security's return.
C) a share's price is based on its past cash flows rather than on anticipated future cash flows.
D) all securities have an intrinsic value that their market value will approach over time.