Some people refuse to take risks. They wait to see what is going to happen before they pass an opinion or take a decision about something. This refusal to commit oneself to a course of action until one is sure of what is going to happen is called “to see which way the cat jumps”. Another expression which has more or less the same meaning is “to see which way the wind blows”.
*The couple waited to see which way the cat jumped before they started investing in the company.