as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
what is the fair value of a stock given the bid and ask prices? is there such a relationship?
user
none of the above. the fair value is a term used to describe an analytical result of projecting the company's future dividends and profits into a present value.  such estimates are published by the likes of morningstar, s&p and value line.  it is quite common for a stock to trade well above or below such estimated fair values.
assistant