> I would force all assets to have a valuation every year, and published in a register, and allow anyone else to buy any of those assets for the declared value
This would make investment bankers and lawyers happy and nobody else.
Note that any company with a '40 Act investor already has public valuations per those investors' opinions published--it's how you get "Fidelity marks down value of Twitter stake again" headlines [1].
> this whole idea of "unrealised gains/losses" goes away
As does the entire American private capital market, including small business, since illiquid investments now become punitively expensive to hold.
The more I think about it, the more impressive this proposal becomes in terms of solving almost zero problems while actively making the problem worse in different ways.
This would make investment bankers and lawyers happy and nobody else.
Note that any company with a '40 Act investor already has public valuations per those investors' opinions published--it's how you get "Fidelity marks down value of Twitter stake again" headlines [1].
> this whole idea of "unrealised gains/losses" goes away
As does the entire American private capital market, including small business, since illiquid investments now become punitively expensive to hold.
The more I think about it, the more impressive this proposal becomes in terms of solving almost zero problems while actively making the problem worse in different ways.
[1] https://www.reuters.com/technology/fidelity-marks-down-value...