WeWork Isn't the Only Wreck Hiding in Your Portfolio
Valuations can vary widely among money managers. As mutual funds and pension funds race into private markets, investors should tread carefully.
Cash for clunkers.
Photographer: Tim Graham/Getty Images EuropeLook inside your mutual fund: WeWork isn’t the only unicorn with a valuation so slippery that it’s worth $47 billion one day and $0 the next.
Back in June 2015, fund managers from Fidelity Investments to BlackRock Inc. valued their stakes in Uber Technologies Inc. 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 Inc. by 48% to $386 million, amid a government crackdown on the e-cigarette company.