The anniversary of the advent of the pandemic has caused Nelson Capital to reflect on the challenges and changes we have endured in the last year. The loss of life has been catastrophic with over 3.2 million (and counting) recorded deaths. The emotional and physical toll on healthcare and essential workers has been palpable. The jolt to our economy resulted in record unemployment rates and unprecedented volatility in capital markets. We are social creatures that have been denied the ability to see friends, family, and loved ones for over a year, in many cases missing or postponing the celebration of important milestones.

Despite these hardships, there are silver linings. We were able to successfully transition to remote work and keep our employees healthy while maintaining a high level of service and productivity. Today’s technology has enabled us to communicate and collaborate remotely in ways which were not possible decades ago. We feel fortunate that we can stay in touch with our clients with Zoom meetings and share ideas through video presentation updates. But one year in, it is abundantly clear that Zoom fatigue is real. What started as a fun way to do virtual happy hours with friends has morphed into an all-consuming schedule of video calls. Furthermore, the grid of webcam squares does not compare to the natural setting of an in-person meeting, and it has even created anxiety for some. We prefer the visceral experience of a face-to-face meeting with our clients and cannot wait until we can travel and share a meal again.

With the weather beginning to warm and promises that a vaccine will be available for any willing adult by May, we are hopeful this will be sooner rather than later. However, virus variants bring the chilling realization that COVID-19 may never fully go away and there may be some fundamental changes to our behaviors for the foreseeable future. How long will it be before we are comfortable hugging a loved one outside our bubble? Or shaking a stranger’s hand? If we are just as productive working from home, then do we need to be in the office 40 hours a week?

Some companies have proclaimed the death of the office and are allowing employees to work from home indefinitely. We have proven tools exist to make this possible, however, this severely discounts the benefits of in-person communication and apprenticeship. We envision a hybrid approach with collaborative workspaces and areas to host client meetings, integrated with a more flexible work schedule that allows employees to have a proper work-life balance and focus on emotional wellbeing. Until this time comes, we remind you to not let your guard down and stay safe in the final stretch. The light at the end of the tunnel is
brightening.

Individual investment positions detailed in this post should not be construed as a recommendation to purchase or sell the security. Past performance is not necessarily a guide to future performance. There are risks involved in investing, including possible loss of principal. This information is provided for informational purposes only and does not constitute a recommendation for any investment strategy, security or product described herein. Employees and/or owners of Nelson Capital Management, LLC may have a position securities mentioned in this post. Please contact us for a complete list of portfolio holdings. For additional information please contact us at 650-322-4000.