Sentences with phrase «discarded cigar butt»
Graham likes to use the metaphor of finding a discarded cigar butt on the ground and picking it up for one last triumphant puff.
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«Buying the stock at that price was like picking up a discarded cigar butt that had one puff remaining in it,» Buffett recounts in his 2014 letter to Berkshire Hathaway investors.
Not exact matches
The approach is called cigar butt investing because it's likened to the idea of picking up a cigar butt that's been discarded on the street but still has one good puff left in it.
Namely, Warren was always on the lookout for cigar butts; those discarded, disgusting and unloved stocks with no identifiable basis for future operations — however, they had one last puff left in them.