It is like how losses on stocks that are down are «only paper losses» until you actually sell them. (badmoneyadvice.com)
The reductions also represent sizable paper losses for the funds. (fortune.com)
Those who were in the market benefited with paper gains, just as the vast majority of them had paper losses as the markets collapsed in 2008 and early 2009. (financialplannerpasadena.com)