Seminar 217, Risk Management: Private Company Valuations by Mutual Funds

Seminar 217, Risk Management: Private Company Valuations by Mutual Funds

Risk Seminar
Oct 1, 2019, 11:00 AM - 12:30 PM | 1011 Evans Hall | Happening As Scheduled
Speaker: Ayako Yasuda, UC Davis (Speaker - Featured)
Mutual funds that invest in private securities value those securities at stale prices. Prices change on average every 2.5 quarters, vary across fund families, and are revised upward dramatically at follow-on funding events. The infrequent, but dramatic price changes yield predictably large fund returns. Fund investors can exploit the stale pricing by buying (selling) before (after) the follow-on...