From R.I.P Good Times to The Corona Virus Blackswan...Sequoia Capital Knows How To Party

I found something that really takes my mind off news and headlines…a Kidney Stone.

Yesterday I woke up pretty comfortable so I assumed my stone had passed in the night.

My doctor laughed when I mentioned it to him.

By noon I was keeled over again crying.

I am armed with some pretty good drugs but this stone has hung in there four days now. It’s acting like I owe it a pretty good sum of money.

In the real world….Corona Virus is really hitting the fan.

Sequoia Capital (one of the biggest and best venture capital firms) warned their companies to cut costs and conserve cash. Big woop…I flew to New York to tell mine the same – face to face, virus to virus.

Way back in 2008, Sequoia panicked and did the same thing during the financial crisis with this ‘RIP Good Times’slide show they sent their companies.

I mentioned a few weeks a go on Momentum Monday that a travel recession was likely. One look at the charts from Chinese airlines made it obvious. Now it seems like a full recession will work is way into our economy.

I have nobody to blame here. Page 10 became page 1 and is sticking. The sticking (on page 1) part is what leads to a recession. Travel, events, business meetings, sales get cancelled. Orders get pushed back. Of course traders can play the Corona Virus or lookalike Corona Virus stocks, but most of us need to just go on defense.

Personally I am paying defense now that I am back home in Phoenix. I won’t be traveling for a while.

As for the markets, I can’t help but nibble when the S&P opens a day down 3-4 percent. I also can’t help sell something when it closes up 3-4 percent.

At S%P 2,600… a mile away…I have a list of stocks I would be buying but that could be weeks or months away or simply never happen.

In the meantime, I will call the CEO’s in our portfolio that need help fundraising and cost cutting and make myself useful.