Fair Value, DaRC Transparency

A recent article from the Private Equity Manager’s Daily Digest titled “When is fair value not fair value?” provides interesting and sharable comments about the decision taken by the American Institute of CPAs (AICPA) to create a task force and deliver more granular rules for “valuing hard-to-price non-quoted companies”.

Relativity Theory, Money-Time Curvature and Private Capital Pricing

Wonder what relativity theory and money-time curvature have to do with rational pricing of private capital? The two quotes below, freely adapted from the Wikipedia pages about space-time and reference frame, may give a hint.