haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I don't manage money - but I do value portfolios of derivatives. In my world there's no such thing as a 'paper' loss.
True enough. Still, I think that for calm people who invest in reasonably valued securities with no outdates, todays market price should be given some weight but usually a lot less than 100% weight. Otherwise, there is no way to invest in securities with market quotations other than momentum trading.
On this board we have seen posts which recognize the tension in this, and so the posters preferred unquoted securities such as private REITs to similar but publically traded issues.
As long as you are not borrowing against a position, there is no rational reason for preferring less liquidity and price transparency to more, other than self management of emotions. Liquidity can't subtract value.
ha
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