While it is certainly no surprise to find profitable investing ideas from The Wall Street Journal, one does not expect it to happen from the Leisure & Arts page of the Personal Journal section.
But that is what transpired with the article by Bruce Cole, "The Sunken Treasures of Arabia. Cole's fine piece of reporting in The Wall Street Journal about an art museum exhibit in Kansas, highlights for investors the lucrative field of treasure hunting. According to an article in Popular Mechanics magazine from 2012, there is about $60 billion in sunken treasure around the world.
As reported in another article in The Wall Street Journal, J.D. Hutt (NASDAQ: JABA) has recently acquired Sea Treasure Recovery Corp. to go after those riches. Sea Treasure Recovery Corp. will operating in the waters off Florida. That is where Mel Fisher made his $450 million find back in1985, from a sunken Spanish galleon.
What makes J.D. Hutt even more appealing than the $450 million haul coupled with the $60 billion more waiting is that the technology for finding treasure has improved greatly. In addition, gold and silver is worth much more than it was back in 1985.
Odyssey Marine Exploration (NASDAQ: OMEX) just made a $77 million find off the coast of Ireland. That was from a boat sunk by a submarine in World War II. Odyssey Marine Exploration specializes in deep water dives.
Sea Treasure Recovery Corp. is going after less risky treasures. While not entailing the risks of an ocean dive, these are just as profitable for J.D. Hutt shareholders: the price of gold and silver remain the same, no matter how deep or how great the degree of difficulty for the dive.
So, Peter Lynch was right...again. You get your best ideas from what you see selling in the neighborhood or at the mall. This time is was reading about an exhibit at a museum in Kansas!
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.