The Value of Fair Value
Chief Executive Officer Richard S. Berg talks about why fair value is best practice and why market price can be the best estimate of value.
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Chief Executive Officer Richard S. Berg talks about why fair value is best practice and why market price can be the best estimate of value.
If you enjoyed this post, make sure you subscribe to our RSS feed!
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Well, I tell ya what…I bought 5000 shares of Bank of America at $19.00. The market tanked and the value of each share went to ~$2.53. If banks can just go to Mark-To-Model why cannot I sell my $2.53 shares for $19.00 or higher?? Maybe $43.00 where they were in early 2007??? Hmmm, why do banks get to do what I cannot. –a bit skewed…
If banks mad there money the old-fashion way (as they did 5 to 10 years ago), would we be in this mess?