2016 Cliff Jumping Danny Popescu 08/26/2016 822 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. 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