“It is not in the pursuit of happiness that we find fulfillment, it is in the happiness of pursuit.” Denis Waitley

Good morning & happy Monday!

Wow – where did that summer go!? It’s hard to believe that we are into back-to-school season, hopefully you all found time to get out into the world, relax, recharge and perhaps even read a little as we prepare for the journey ahead.

Earlier this summer, it was recommended to me to pick up a copy of The Earned Life, by Dr. Marshall Goldsmith. As an executive coach, Goldsmith beautifully illuminates his idea behind why some people achieve and others are stagnant……the answer lies within three variables: Action, Ambition, and Aspiration; the Triple-A that I thought I’d share on this beautiful Monday morning……

Action

Action is what we are doing now. It is time-bound, serves our immediate needs, and usually is reactive; it is due to something that happened or didn't happen.

Ambition

This refers to what we want to achieve. Once again, this idea is time-bound, ending when we achieve our measurable goal. When you reach your ambition, you are enveloped with a feeling of happiness, which is fleeting and ends shortly after you achieve your goal.

Aspiration

This describes what we want to become. There is no clear finish line; it cannot be measured, and you can never actually achieve it, but you will work diligently and with great focus to make a dent in doing so. The aspiration is an expression of your higher purpose.

Goldsmith points out that people are usually clear about their aspirations but vague about the action steps needed for their pursuit. It is why they never make any headway. However, you will not reach your full potential if you do not link your aspiration to action and ambition. “You need to enjoy what you are doing and do all three steps,” shares Goldsmith. “You should like what you are doing, it should be meaningful to you, and it fulfills a higher purpose. You enjoy the process as much as what you are achieving.” That is when you are on your road to fulfillment.

Like success, with aspirations, you are never indeed done. You have never earned enough and feel there is always more you can do. It is about time we started living our own lives in place of the ones someone else dictated for us. The secret to finding fulfillment, according to Goldsmith, comes from connecting with and aspiring to something bigger than ourselves. Learning to let go of regret, anger, and mistakes will help lead to an earned life of fulfillment.

Instead of saying, “I’ll be happy when…” Goldsmith walks you through actionable steps you can take to leave regret behind, overcome obstacles and live a fulfilling life. Now is the time to fill the gap between what you say you want to accomplish and what you achieve. Filled with stories from some of the world’s top leaders, Goldsmith expertly weaves guidance and gentle nudges to get you to take the reins of your life and drive it toward fulfillment. Heart, soul, and decades of experience with top CEOs make The Earned Life the perfect blueprint for those yet to feel fulfilled.

“Life finds its purpose and fulfillment in the expansion of happiness.” Maharishi Mahesh Yogi

And now, to the markets

It’s been a wild ride these last few weeks, global markets were experiencing a rather unusual sense of tranquility, which stands in contrast with much of the rest of the year. More specifically, broad levels of volatility have declined, bond yields have been stable, and equity markets have pared some of their losses. While there are a host of factors that may be responsible for the renewed stability, the overarching driver may be signs that inflation has peaked, for now. That said, the last few trading sessions have seen quite the volatility and TSX futures lower ahead of Monday trading. Canadian equities fell 1.2% last week, as a big drop Friday pushed the TSX into negative territory on the week. Strong performance from energy and materials helped limit downside as Canadian equities outperformed US peers, with S&P and Nasdaq both falling over 4% last week. S&P futures down 1.1%, extending Friday's sharp declines that were sparked by Fed Chair Powell's Jackson Hole speech. It does appear that we are in the process of transitioning from a period of high and accelerating inflation to a backdrop where pricing pressures are elevated but decelerating. Historically, the latter environment has proven to be a more welcome backdrop for investors. That has us feeling more comfortable with respect to the near-term outlook. Nevertheless, we are mindful that inflation could remain uncomfortably high for longer than some may expect. Moreover, we see vulnerabilities to the earnings outlook as we begin to focus on 2023. For these reasons, we continue to tread somewhat cautiously to ensure we manage our client portfolios with a range of potential outcomes in mind.

“Live your own life, not someone else’s version of it. Make it a habit to earn it every day. Attach your earning to something greater than mere personal ambition. In the end, an earned life doesn’t include a trophy ceremony.” Dr. Marshall Goldsmith

As we cruise into the last week of the summer, let’s prepare for the road ahead, but ensure that we trust the process, embrace the process and enjoy the process, as it’s the journey that leads to fulfillment and discovering your earned life.

“The Goal is the ending of the Process. The Process is the beginning of Goal.

Attention is the ending of the Aware. Aware is the beginning of Attention.

Pleasantness is the ending of Discomfort. Discomfort is the beginning of Pleasantness.

Earning is the ending of learning. Learning is the beginning of Earning.

Swapping this will become the ending of your career.

Following this will become the beginning of your career.” Srikanth Mahankali

Be well & enjoy the moments

Derek