A savvy student investor has bagged himself a rare Argos catalogue for €100, The Potato can reveal today.
Investors often move their money to more secure and strange assets during recessions. Gold is always considered a safe haven, but things like art and wines are used too, to help investors reduce risk during times of economic uncertainty.
But, in a recent private auction, held on the campus of NUI Maynooth, it appears that a young and relatively unknown investor, has purchased a rare Argos catalogue.
The transaction was completed from the back of a white van that was driving around the campus, when the student investor made the decision to funnel all his cash in the asset.
Richard Burke, head of the Art Investment Portfolio at Davy Stock Brokers commented on the transaction and said:
It’s a new move that we haven’t seen before. It does appear that he paid over the odds for the piece, but he may have information that we currently don’t which led him to pay what he did. Investments come in many forms and only time will tell if he’ll make his money back on the catalogue.
Argos catalogues haven’t been seen before as investments, but there was a time when sugar, milk and indeed energy itself wasn’t either.
Many are now speculating that this rogue investor has possibly uncovered a new opportunity in which to profit from. Investment houses are now carrying out financial analysis on the catalogue market at the request of their clients.
People in NUIM are trying to reveal the identity of the young investor, who some are claiming is a financial prodigy and could turn out the be the next Warren Buffet, but others are dismissing those claims and reporting that only modest returns can be expected from such an investment.
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