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| Detectives of the Deep |
Vicarious Investment
Michelle Seaton
01/01/2006
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Frank Rutkowski does not usually glean investment advice from television.
However, last year Rutkowski’s wife watched a documentary on treasure hunters
that featured the story of Mel Fisher and his discovery of the Atocha. The
program also mentioned the Fisher family’s continuing hunt for treasure—and
investors. “I called them the next day,” says Rutkowski, a business development
manager at PG Drives Technology in Carmel, Ind. Within a couple days he had
purchased a full share in Mel Fisher’s company for approximately
$60,000.
 | | FRANK RUTKOWSKI visited the Atocha dive site in 2005. (Photograph Courtesy Mel Fisher’s Treasures.) |
Being a shareholder in Mel Fisher Enterprises is unusual in that
investors are encouraged to visit the dive site often, and can even dive for
treasure themselves. They are also invited to attend an annual theme party,
usually in April, at which shareholders gather for a weekend of costume parties
and activities, culminating in the division of the treasure recovered in the
past year. This past April, Rutkowski took home a handful of silver coins, a
silver incense burning urn and a gold and ruby ring, among other trinkets. To
date, he has not sold any of his treasure, nor has he had it appraised. He says
that most investors he has spoken to hang on to their treasure, rather than
trying to sell it.
Rutkowski has gone to the dive site once, where he dove
for treasure. The company’s policy is to allow investors to keep the first item
they find on their own in addition to their share of treasure from that year.
Rutkowski did not find any loot during his dive, but says, “It’s so exciting to
be around real treasure hunters.”
Like all of the Fisher investors, Rutkowski
has the option to renew his investment every year, which is exactly what he
plans to do. He says that the company is careful to manage investor
expectations, doling out enough treasure to keep investors happy even when the
company does not recover much loot. “We always hope for the big payout, but they
tell you that the odds are long,” Rutkowski says.
 Back to Main Article: Feature: Detectives of the Deep
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