Day 1,364: mark to market

Only very large banks must mark to market all of their bonds that are available to trade.

What’s wrong with the banks

Artwork of the day 
Market for the country
Pieter Bruegel the Elder
Original Title: Nundinae rusticorum
Style: Northern Renaissance
Genre: landscape
Media: engraving, paper

Word of the day 
mark to market: the rule that shares, etc. should be shown in accounts at their current price rather than the price they were bought for, or another price

Quote of the day
“What the wise man does in the beginning, the fool does in the end.”
― Howard Marks, Mastering The Market Cycle: Getting the odds on your side