Everybody in Silicon Valley loves Blue Bottle Coffee—except the mutual funds that have invested in it. Morgan Stanley’s Multicap Growth mutual fund, which bought $2.68 million of Blue Bottle in 2014, has recently marked down the company’s shares nearly ten percent to $16.84, according to disclosures required by the SEC. Since Blue Bottle isn’t publicly traded, aside from leaked financial data mutual fund valuations are one of the few hard data points the public has to assess what the company’s shares are worth, or at least what mutual funds think they are. And that’s important—more than it has been historically—because of changes introduced by a 2012 law: the Jumpstart Our Business Startups (JOBS) Act. Read More>>