Why you should be wary of the unicorns in your mutual fund
WeWork is not the only dodgy stock that could be hiding in your portfolio
04 November 2019 - 15:10
Look inside your mutual fund: WeWork isn’t the only unicorn with a valuation so slippery that it’s worth $47bn one day and $0 the next.
Back in June 2015, fund managers from Fidelity Investments to BlackRock valued their stakes in Uber Technologies somewhere between $33 and $40 a share. The ride-hailing company is now trading at the low end of that range; so depending on where your savings is parked, you could be facing losses. Meanwhile, in September, Fidelity slashed the estimated value of its stake in Juul Labs by 48% to $386m, amid a government crackdown on the e-cigarette company...
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