(via Warren Buffett) A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the 'bargain purchase' will make that puff all profit.
I have a great attachment to this style because of its simplicity and intuitive appeal + it is easier to figure out and requires less use of judgment than other forms of investing + I wonder whether the concept works in the gem/jewelry/art business.
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