Have you noticed that emails you’re receiving, regardless of the source, seem to have a similar set of messages? We have. We’ve received dozens of emails from companies, suppliers, partners and others that repeat common messages. They’re saying:
- Be patient
- This is an unprecedented time
- No one has a good prediction for what is going to happen next
- Take care of your family and friends
- We’re taking good steps with our team
- We’ll all make it
Now, we don’t disagree with these messages and we’ve actually said them ourselves. But there are a couple of other things we’ve been thinking about that we thought were worth sharing.
First, while this is a difficult time on many counts, it’s a pretty amazing time too. There has been a dramatic shift in conversations, attention and focus on “What Matters Most.” People are having conversations with friends, family and other colleagues that are a little slower, a little deeper and a little richer.
Although some people have some frustration around sharing close quarters with family members for extended periods of time, we’re also hearing that some families are feeling closer than ever, and more connected than ever.
Some businesses are refocusing their efforts and taking steps to get better, more efficient and take on new technologies or tools to improve their operations. We’re not blind to the millions that have lost jobs or been laid off and each of us here know families that are suffering financially due to the effects of the pandemic and we can’t ignore the many leaders who are innovating and engaging their teams in new ways that will serve all of us better in the future.
Secondly, this is a time to reflect. When we consider some of the over-arching social trends across the last few decades, the aim toward consumption, comfort and self-orientation. Often times these behaviors lead to negative results in the long-term. Over-consumption can lead to crippling debt. Prolonged comfort can lead to stagnation. And a persistent self-orientation can lead to the delusion that life is all about us. It isn’t. It’s about everybody.
When we take time to reflect on those trends (and there are other trends that are positive, and inspiring and awesome) we begin to see things differently. We start to see ourselves differently.
From a coaching perspective, think about it this way: the game you’ve been playing has changed and it has a few new rules and perhaps a different scoreboard. With that in mind, do you keep playing by the old rules? Probably not. This is a time to decide or confirm for yourself “what it’s all about.” Then think about how you’re going to live that – with your health, your family, your friends, your business, your community, your politics, your spirituality – all of it.
Reflect. Then choose how you’re going to engage with the world around you.
Now, let’s look at the investment world and the markets…
Since there isn’t a meaningful “pandemic precedent” to reference, it means that the market will continue to be full of volatility (both up and down) and more difficult to anticipate than ever. April is seen as a pivotal virus containment month and we expect that behaviors of this month will have an amplifying effect, either up or down on unemployment and the duration of social distancing measures. To amplify volatility further, the government has brought massive stimulus actions to bear, and many companies will be reporting earnings and profits for the first three months of the year. The next little while will be tough to read.
We’ve been busy pruning our strategies to put investments in as good a position as possible to continue to participate in potential upside moves, and to protect from fully participating in potential downside.
What we know with certainty is that anyone professing to know what’s going to happen next is guessing, and we don’t guess. We pay attention to what matters most so you can win the game that matters: yours.
Be well.