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But isn’t that basically the line of business of an exchange and a trading firm, supposedly one specializing in arbitrage? And despite its difficulty, which I c
by bmitc 4y ago
But isn’t that basically the line of business of an exchange and a trading firm, supposedly one specializing in arbitrage? And despite its difficulty, which I can understand, it still seems like something that should be a bit more automated than the CEO typing them into a spreadsheet a week before the company collapses and warning readers of the “obvious” chance of typos.
- Dwolb 4y agoErm yes you are correct, this is the line of business they’re in and they should have had better controls for valuing their assets. Typically there’s a 3rd party fund administrator whose core responsibilities include calculating the value (NAV) of the fund. Sometimes funds have Level 2 or Level 3 assets, which may require management effort to value and may not have real-time pricing available. https://www.investopedia.com/terms/l/level2_assets.asp https://www.investopedia.com/terms/l/level2_assets.asp https://www.investopedia.com/terms/l/level3_assets.asp https://www.investopedia.com/terms/l/level3_assets.asp