What's it all worth?
The ongoing disruption in the capital markets has created a unique set of challenges: how does one determine asset values in an illiquid market and how can risk be measured when models continue to fail?
Historically, value was determined by the price at which willing buyers and sellers were able to complete a transaction. But what happens when there are too many sellers and too few buyers for an orderly market to be maintained? In most cases, models become the main barometers of value and risk
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