Create a hypothetical waterfall

Last updated: April 8, 2026

Getting started with hypotheticals

All hypothetical scenarios within Luminary begin with a Hypothetical Waterfall. To create a Hypothetical Waterfall:

  1. Navigate to the Waterfall section in Luminary and click Create Waterfall.

  2. Name the Waterfall.

    1. This title will be the default title used when you create a presentation. It's best practice to name the waterfall after the specific strategy or transfer pattern you're modeling.

  3. Toggle on the Hypothetical Waterfall option

  4. Select the Source Waterfall. This will be the waterfall your hypothetical will be built on top of.

    • The layout will inherit settings from your source waterfall, but you can further customize it by auto-grouping tiles and including or excluding entities after selecting the source.

  5. Click Create Waterfall in the lower-right corner of your screen.

    • You'll know you're in a hypothetical environment when the yellow "Hypothetical" tag appears at the top of your screen.

Luminary Tip Since your hypothetical inherits all the properties of your existing waterfall including layouts, we recommend ensuring your baseline waterfall is fully configured the way you'd like before starting on hypotheticals

Once your Hypothetical is created, you can begin modeling scenarios for Dispositions, transfers, or Advanced Strategies.