David Larsen is a managing director in the Alternative Asset Advisory practice, based in Seattle, Washington and a Duff & Phelps Institute Fellow. He has more than 35 years of transaction and accounting experience. He specializes in fair value accounting, specifically for valuation, accounting and regulatory issues faced by alternative asset managers and investors. In this podcast, he discusses how large institutional investors have increasingly invested in so-called "alternative investment funds." Some have characterized these funds as being high cost and high risk, so why are they receiving increased investment capital? He discusses this, as well as how “value” is determined in times of market dislocation, and what some of the similarities and differences are between the current economic crisis in 2020 and the economic crisis experienced in 2008.