Valueing everything at bid price is a bad way to do things at the moment.
It's
exactly the right thing to do at the moment, because that -- and only that -- provides an indication of the fund's
liquid net value. When some assets are likely to be wiped out entirely (BTC-TRADING-PT, for example), nobody cares what the 7-day moving average or 30-day moving average might be.
I took the time to release a special interim report immediately so that participants could have quantitative facts in front of them, right now, telling them exactly where we stand. Will things change over the next few hours and days? Of course they will, and hopefully for the better -- but that doesn't make it "a bad way to do things" to have given the specific, quantitative information as quickly as humanly possible.
OK, I see your point, it is the only meaningful observable data to assign a number to the portfolio value. I guess my point is more that the situation is in a state of high flux, and that number will change rapidly as people learn about the order book being wiped and start to add more bids at higher and higher points, so selling now at 80% price would be unwise for people holding this fund.