The equilibriumstock price is determined by both the supply and the demand side, corresponding to the free position of a spring when all external force is removed.
股票的均衡价格是股票的买卖双方处于均衡态势时共同认可的价格，对应于弹簧在无外力作用时的平衡位置。
2
The dividend discount model is the essential method used to estimate the stock intrinsic value. No-arbitrage equilibrium theory is the foundation of present financial theory.
股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。
3
The securities noise is not a rational information which makes the equilibrium price ofstock drift off its internal price under the environment of information unsymmetry.