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Judgment & ambiguity · When to escalate

You hold a small private or thinly-traded position, a comparable transaction just printed sharply below your carrying mark, but it's a distressed, arguably non-comparable deal. Do you re-mark on your own, and if not, at what point does this leave your desk?

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I don't move a mark on my own, and I don't sit on evidence either — this belongs to the valuation committee the moment a real transaction contradicts our carry, and this one does.

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