1
general::
Try to take advantage of a confused situation. For example, He often buys up stock in companies declaring bankruptcy; fishing in troubled waters generally pays off. This term, first recorded in 1568, expresses the even older notion that fish bite more readily when seas are rough.
American Heritage Idioms
2
general::
Phrase(s): fish in troubled waters
Fig. to involve oneself in a difficult, confused, or dangerous situation, especially with a view to gaining an advantage. • Frank is fishing in troubled waters by buying more shares of that company. They are supposed to be in financial difficulties. • The company could make more money by selling armaments abroad, but they would be fishing in troubled waters.
McGrawhill's American Idioms And Phrasal Verbs