Treasure Hunting vs. Investing
I am fascinated by treasure hunters.
Modern-day treasure hunters are very different from those you see in the old movies. In those movies the treasure hunters search by going where others had success, hoping they can find some too. There is usually a lot of intrigue and fighting involved.
Lots of science and research goes into hunting buried treasure today.
I recently read the story of the ship “Nuestra Señora de las Maravillas.” It is likely one of the richest Spanish galleons to sink in the New World. For centuries divers have explored off the coast of the Bahamas in search of the treasures that were on that ship. They searched and dug where others found relics. It is estimated they’ve pulled out 5 million pesos worth of silver and relics over the centuries. Recent technology has allowed a new team to map out a site that is two miles long. They estimate there are relics still down there worth more than $100M.1
I bet just hearing about this stirs up a little excitement, right?
As I watched a video of these treasure hunters, I couldn’t help but think of those investors who are still trying to use the old ways of finding treasure in the markets. There seems to be little research into the risks or evaluating where growth could more easily be found. It’s a lot of chasing after where they see prices that have already risen enough to make the news.
The reality is that a more research-based approach to a properly diversified portfolio is more likely to pay off in the long run.
Let’s leave the old way of treasure hunting to the movies and stick with properly investing for your future.
1 https://www.cbsnews.com/news/maravillas-treasure-mapped-legendary-shipwreck-bahamas/
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