By Doug Kartsen, CFA

Spring is in the air and it’s hard not to get anxious for the change of seasons. Whether its golf or gardening, tennis or mountain biking there are favorite activities we want to get back to.   Six or so years back I got the bug to start kayaking and have really enjoyed it as a healthy activity individually and with both family and friends. I often like to challenge myself on the water, but on more sedate paddles I have an opportunity to view nature, think about life and to synthesize what I’m seeing and hearing regarding the stock and bond markets.

I introduced my daughter to Kayaking when she was just four years old, sharing the cockpit with me in a second-hand kayak at Winding Trails in Farmington, CT. As an eight year old she was given her own kayak and began running mild white water last year. We would enter the Farmington River near Riverton, CT and come out shortly before a challenging bit of Class III rapids called Satan’s Kingdom, a popular spot for tubing. For those unfamiliar with this international classification system, Class III refers to “Rapids with high irregular waves capable of swamping an open canoe. Narrow passages that often require complex maneuvering.”

Rarely frightened and not fully aware of the danger (try explaining complex maneuvering to a rubbery eight year old), my daughter often attempted to avoid the planned exit, eager to cut her teeth on Satan’s Kingdom. She will need more experience before that happens, but she deserved to know why I kept thwarting her attempts.

With the recent spring weather beckoning us outdoors, my daughter and I recently hiked together along the river and down to the Satan’s Kingdom rapids. It was a perfect afternoon and a beautiful hike shared with several wet overly-friendly labs. Upon reaching the rapids, we could see the water boiling through and over boulders. By tossing sticks in the water she was able to observe how the current followed certain patterns, the stick occasionally being sucked down and lost from sight. She could appreciate the large drops a kayak might make and noticed evidence of dangerous rocks beneath the surface. She’s more respectful of the water now and will be taking lessons this summer to learn how to read the water and to enjoy its challenges. She’ll learn to identify risks, maneuver past them and to recover from shocks and inevitable mistakes. What a great lesson for a daredevil and future investor.