Enormous losses could have been avoidedif the SEC and the FASB had recognized that mark-to-market accounting should not be used when there is no active market.

The Dow Jones Industrial Average has returned more than 200% over the past five years, and the past three have set an all-time record. So it's hardly surprising that many observers worry the stock market is overvalued. One of the most popular measures of valuation, the ratio of a stock's...

The debate about fair value accounting has only intensified since the financial crisis began.

Private equity has been the subject of much recent controversy due to the lingering threat of a recession.

Fair value accounting has been the principal cause of an unprecedented decline in asset values and an unprecedented rise in instability among financial institutions.

The Securities and Exchange Commission should suspend mark-to-market accounting.

The stress tests boosted confidence in U.S. banks, suggesting that earlier disclosure of bank balance sheet conditions would have stabilized markets sooner.

There are high-quality, growing businesses trading at value-stock prices. What more could you want?