The Art of Bargain Hunting in Turbulent Times: Why I’m Watching Two Overpriced FTSE 100 Stocks
The financial world is a bit like a rollercoaster right now—exciting but nauseating. Conflicts, soaring oil prices, and tariffs are creating a perfect storm of uncertainty. Personally, I think this is the kind of environment that separates the opportunistic investor from the panic-stricken one. What makes this particularly fascinating is how it can turn overpriced stocks into potential bargains. Take Antofagasta and Games Workshop, for example. Both are trading at sky-high multiples, but in my opinion, a market crash could make them far more appealing.
Copper’s Quiet Revolution: Why Antofagasta Could Shine
Antofagasta, the Chilean copper miner, is a company I’ve had my eye on for its role in the green energy transition. Copper is the unsung hero of electrification, and Antofagasta is sitting on a goldmine—or rather, a copper mine. What many people don’t realize is that copper demand is set to explode as the world shifts to renewable energy and electric vehicles.
Their 2025 results were impressive: earnings up 55.4%, revenue at $8.6 billion, and EBITDA hitting a record $5.2 billion. From my perspective, these numbers aren’t just about profitability—they’re a testament to the company’s ability to thrive in a volatile market. However, the risks are real. Rising energy costs and potential copper price drops could squeeze margins. But if you take a step back and think about it, the long-term demand for copper makes Antofagasta a compelling play, especially if its share price dips.
The Niche That’s Not So Niche: Games Workshop’s Loyal Empire
Games Workshop, the mastermind behind Warhammer, is another story entirely. On the surface, it seems like a niche hobbyist company, but its financial performance tells a different tale. A 69% gross margin? A 67.9% return on equity? These aren’t just numbers—they’re a testament to the company’s cult-like following.
What this really suggests is that Games Workshop has tapped into something deeper than just selling miniatures. It’s selling a community, a lifestyle, and a sense of belonging. However, the risks are worth noting. A downturn could hit discretionary spending, and new releases could flop. But here’s the kicker: their 3.24% dividend yield and licensing deals provide a safety net. In my opinion, this is a company that’s built to weather storms—and thrive afterward.
The Psychology of Market Crashes: Why Preparation Matters
Market crashes are scary, but they’re also opportunities in disguise. The key is preparation. Having cash set aside isn’t just about buying low—it’s about staying calm when everyone else is panicking. What many people don’t realize is that the best investments are often made when fear is at its peak.
Antofagasta and Games Workshop are overpriced now, but a 20–30% drop would change the game. It’s not just about the price, though. It’s about the potential. Antofagasta’s role in the green revolution and Games Workshop’s loyal customer base make them standouts in their respective sectors.
The Broader Trend: Why Quality Matters in Uncertain Times
If you take a step back and think about it, the current market turmoil is a reminder that quality stocks always come back stronger. Companies with solid fundamentals, strong demand drivers, and resilient business models tend to outperform in the long run. This raises a deeper question: Are we too focused on short-term volatility and missing the bigger picture?
Antofagasta and Games Workshop aren’t just stocks—they’re proxies for larger trends. Copper is the backbone of the green economy, and Warhammer is a cultural phenomenon. In my opinion, these are the kinds of companies that not only survive market crashes but emerge as leaders on the other side.
Final Thoughts: The Opportunistic Investor’s Mindset
Personally, I think the current market uncertainty is a gift for those who’ve done their homework. Antofagasta and Games Workshop are overpriced today, but a crash could make them must-buys. What makes this particularly fascinating is how it forces us to rethink our approach to investing. It’s not about timing the market—it’s about time in the market, especially when quality stocks go on sale.
So, if the market does crash, I’ll be watching these two closely. Because in the world of investing, patience and preparation are the ultimate edge. And sometimes, the best deals come when the world looks its worst.
