Bill Gurley, a venture capitalist who made a $11 million bet in Uber in 2011, has a warning for tech investors.
Investors are mustering some courage following the worst month since the pandemic, and Friday’s session that ended with the Dow DJIA tanking nearly 1,000 points and the S&P 500 SPX sliding back into correction territory.
All eyes are on this week’s monumental Fed meeting, where a 50 basis-point rate hike is on the cards — some say April’s meltdown means don’t expect anything bigger.Unicredit’s chief economic advisor Erik F.
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 price/revenue is a “dangerous technique because all revenues are not created equal.” 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 six-month low in April.
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