Here’s the overview of yesterday’s Zoom presentation:
Pick up any national newspaper today and you will notice about half the articles are about COVID – 19 or allude to the pandemic. One reason for this is that the basic elements of coronavirus never seem to go away totally or get fully resolved.
Here are several examples of the above. First, while vaccines are now available, those people who are vaccinated continue to wear masks and social distance and wash their hands. That’s because vaccinated folks can still get the virus or have it residing in their bodies. Accordingly, they could transmit the disease even though the virus may not make them sick.
Another example of the way COVID can remain in our midst regardless of vaccinations is that some viruses may end up changing their own deadly make up and become stronger, thereby potentially thwarting the effectiveness of previously approved vaccinations. As a practical matter, vaccines already injected in some of our relatives or neighbors could also become less effective at preventing severe illnesses due to virus strain mutation.
Furthermore, people around the globe may nonetheless feel compelled to maintain minimal levels of socialization that might occasionally spread coronavirus. For instance, some folks might engage in certain forms of religious worship. And this typically involves congregating at services deemed essential to worshipers’ beliefs or faith – which could expose them to being in places where COVD – 19 can possibly be spread.
The bottom line is that there are no easy answers available to anyone, including investment management firms, at this time with regard to this complex disease. The term “new normal” seems much more challenging to define now than when it was first mentioned in 2020. It is clear that a lot of work still lies ahead for our industry!