Mutual Funds Mark Down Unicorns. So What?

Mutual Funds Mark Down Unicorns. So What? by Nizar Tarhuni, PitchBook

There's been quite a storm set off with recent media reports covering the markdowns that Fidelity Investments has undertaken for private companies in its mutual funds. A couple of the notable valuation stake write-offs in Fidelity’s portfolio include Snapchat, marked down 25% since May, and Dropbox, marked down just under 20% in the same timeframe. While these markdowns have caused a big reaction from much of the media, the valuation write-offs aren't as overly indicative of an actual decline in the performance of these privately held companies—rather simply an accounting measure these funds have to abide by. Sure, some of these companies likely have their own business issues but the story is a bit...