Price is not the same as value and value is not the same as price. The determinant of the future return of an asset is the price that an investor pays for an asset initially and the out-turn of fundamental factors. 

However, there is always the risk of value not being fulfilled. This is particularly the case in individual equities. If other investors take you out of position before value is achieved (e.g. in a takeover at a level below the price that fully reflects an asset’s fundamental factors), the investor will not be sufficiently rewarded for that investment. 

An investor needs to ensure that there is a plausible path for achieving fundamental value within an appropriate time-frame.