investors are mustering some courage following the worst month since the pandemic and friday’s session that ended with the dow djia tanking nearly 1000 points and the sp 500 spx sliding back into correction territory all eyes are on this week’s monumental fed meeting where a 50 basispoint rate hike is on the cards some say april’s meltdown means don’t expect anything bigger read why a fragile stock market faces danger from rising real yields as ‘tina’ trade fades unicredit’s chief economic advisor erik f nielsen told clients that despite a dismal april stocks are holding up better than he expected but maybe not for much longer “the problem is that asset allocation is always the result of a probability game but as the odds change with a deteriorating world economy cash and other zeroyielding holdings might well become more attractive as a parking place for awhile” onto our call of the day  which comes from bill gurley general partner at venture capital firm benchmark capital who famously made an 11 million bet on uber uber in 2011 several of his more than a half million followers sat bolt upright after this twitter thread “an entire generation of entrepreneurs  tech investors build their entire perspectives on valuations during the second half of a 13year amazing bull run the ‘unlearning’ process could be painful surprising and  unsettling to many i anticipate denial” tweets gurley who adds three points   previous ‘alltime’ highs are completely irrelevant it’s not ‘cheap’ because it is down 70 forget those prices happened   valuation multiples are always a hack proxy dangerous to use if you insist 10x should be considered amazing and an upper limit over that silly   you may be shocked to learn that people want to value your company on fcf free cashflow and earnings facebook trades at 14x gaap  is growing 23 what earnings multiples are you assuming gurley linked to his blog from 2011 where he explained that discounted cash flows “are the true drivers of value for any financial asset companies included” and that pricerevenue is a “dangerous technique because all revenues are not created equal” among those reacting to gurley was amazon amzn founder jeff bezos whose stock is facing its worst year since 2008 after the company’s first loss in seven years to some gurley’s comments were a warning of tough times to come for the tech sector warren buffett’s berkshire hathaway brkb brka bought 511 billion worth of equities in the first quarter in what he called a “casino” market chevron cvx and occidental petroleum oxy are on that list and he also bought up nearly 10 of the videogame maker due to be bought up by microsoft activision blizzard atvi  he and vice chairman charlie munger tried to reassure investors at the first inperson shareholder meeting since 2019 over the weekend more than 100 companies are still due to report this week such as pfizer pfe and moderna mrna and starbucks sbux  with clorox clx  expedia expe and mgm mgm due monday the institute for supply management index for april is coming after the market open along with construction spending in a week that will give us not just a fed meeting but jobs data at the end of it elsewhere weekend data showed china factory activity hit a sixmonth low in april civilians in an embattled mariupol steel mill in ukraine began evacuating on sunday eu energy ministers will reportedly hold an emergency meeting on monday to discuss russia’s recent gas cutoffs for poland and bulgaria as germany vowed to wean off russian oil by late summer stock futures ym00 es00 nq00 are moving higher with bond yields tmubmusd10y tmubmusd02y also rising after massive gains in april commodities are mostly headed the other way with oil cl1 and gold prices lower the dollar dxy continues to surge across the board but not against the russian ruble usdrub  london was on a break but europe stocks are selling off and appeared to suffer a flash crash at one point this morning these were the top searched tickers on marketwatch as of 6 am eastern time an italian football match has become the first to be viewed simultaneously in the metaverse an animated series created by meghan markle for netflix is getting the chop headed to miami’s inaugural grand prix be prepared to shell out more than 1000 for tickets need to know starts early and is updated until the opening bell but sign up here to get it delivered once to your email box the emailed version will be sent out at about 730 am eastern want more for the day ahead sign up for the barron’s daily a morning briefing for investors including exclusive commentary from barron’s and marketwatch writers