单选题

Which of the following statements concerning security valuation is FALSE?（）

A、 If the current price of the security is $15 and the analyst using the dividend discount model determines a value of $10 the analyst should issue a sell recommendation.
B、 Firms with abnormally high return on equity (ROE) will probably retain a large portion of their earnings.
C、 In the investment process, the most important decision is selecting the proper valuation method.

【正确答案】 C

【答案解析】

In the investment process, the most important decision is asset allocation.