2016 Cliff Jumping Danny Popescu 08/26/2016 880 0 Comments Happy Friday, On Lake Okanagan in BC, there’s a spot halfway down the lake where many go to jump off the rock formations into the lake. The cliff is about 25 feet high and ropes have been affixed on the opposite side to help swimmers climb to the jump spot. While it’s not overly difficult to climb to the top of the cliff with the help of the ropes, climbing back down is not an option due to the nature of the rock formation. As such, once swimmers reach the top of the cliff, the only way back down is to jump into the lake. Boats will often float around the cliff to watch both children and adults jump providing for some fun summer entertainment. A couple of years ago I took my kids to watch the jumpers and there must have been a half a dozen boats with both spectators and jumpers. Amongst the jumpers was a man in his late 30s making his way up the rock. When he got to the top of the rock he looked over the edge and inspected the jump site in detail. After a few minutes, it became apparent that he was nervous about jumping as he repeatedly approached the edge in preparation of a jump, only to turn around and walk back a couple of feet. It was obvious that he recognized the jump site was safe given how many were taking turns jumping, but he just couldn’t bring himself to jump. Again and again, he walked to the edge of the rock giving everyone the impression that he was about to jump, but after about a minute of standing at the edge, he would turn around and place his hands on his waist and take a couple of deep breaths. This went on for about half an hour as kids jumped beside him, swam back to the ropes, climbed up the rock and jumped again. The spectators loved the suspense many of which were cheering him on to jump each time he approached the edge. Eventually, he jumped and when he resurfaced above the water, he was greeted by loud hoorays, whistling and clapping. Investors have patiently awaited each of Janet Yellen’s speeches for clues as to when interest rates might be hiked but the message in each case has been “maybe soon”. This morning Janet Yellen delivered yet another speech and stated that given the strength in the labour market and good economic growth and inflation, “the case for an increase in the federal funds rate has strengthened in recent months”. The suspense will be over soon kids, but hopefully sooner than later Ms. Yellen. Have a good weekend! Danny Popecu CFP, CIM, FMA, FCSI President & CEO “I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone and may not reflect the views of Harbourfront Wealth Management. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by Harbourfront Wealth Management Inc.” Disclaimer – This information transmitted is intended to provide general guidance on matters of interest for the personal use of the reader who accepts full responsibility for its use and is not to be considered a definitive analysis of the law and factual situation of any particular individual or entity. As such, it should not be used as a substitute for consultation with a professional accounting, tax, legal or other professional advisor. Laws and regulations are continually changing, and their application and impact can vary widely based on the specific facts involved and will vary based on the particular situation of an individual or entity. Prior to making any decision or taking any action, you should consult with a professional advisor. The information is provided with the understanding that Harbourfront Wealth Management is not herein engaged in rendering legal, accounting, tax or other professional advice. While we have made every attempt to ensure the information contained in this document is reliable, Harbourfront Wealth Management is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is,” with no guarantee of completeness, accuracy, timeliness or as to the outcome to be obtained from the use of this information, and is without warranty of any kind, express or implied. The opinions expressed herein do not necessarily reflect those of Harbourfront Wealth Management Inc. The particulars contained herein were obtained from sources we believe to be reliable but are not guaranteed by us and may be incomplete. The opinions expressed are not to be construed as a solicitation or offer to buy or sell any securities mentioned herein. Harbourfront or any of its connected or related parties may act as financial advisor or fiscal agent for certain companies mentioned herein and may receive remuneration for its services. The comments and information pertaining to any investment products (The Portfolios) sponsored by Willoughby Asset Management are not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of The Portfolios is made pursuant to the Offering Memorandum or Simplified Prospectus and only to investors in Canadian jurisdictions. Important information about The Portfolios is contained in the Offering Memorandum or Simplified Prospectus available through Willoughby Asset Management. Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with investments in The Portfolios. Investments in The Portfolios are not guaranteed, their values change frequently, and past performance may not be repeated. Historical annual compounded total returns including changes in unit value and reinvestment of all distributions do not take into account sales, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Unit values and investment returns will fluctuate and there is no assurance that The Portfolios can maintain a specific net asset value. Harbourfront Wealth Management Inc. (“Harbourfront”) has relationships with related and /or connected issuers, which may include the securities or funds discussed in this commentary and are disclosed in our Statement of Policies Regarding Related and Connected Issuers. This policy is included in your new client package, on our website, or can be obtained from your investment advisor on request.