cigar butt

名词 n.
中文释义

英文释义

名词 n.
  1. Used other than figuratively or idiomatically: see cigar, butt.
  2. A company bought under the premise of value investing, from the idea of an inefficient attention allocation of market participants present in shares of a quality where almost no value is left, making them comparable to a cigar end left on the pavement where the last puff, though it be ugly and moist, is free. figuratively
    — However, this bargain-hunting strategy contains an inherent flaw that limits the upside. Once Buffett's capital base grew large enough, cigar butt investing was no longer feasible. Beyond a certain scale, he needed to shift from maximizing the return of capital to maximizing the return on capital. This inflection point arrived in the mid-1960s after a series of mistakes in buying cigar butts.

词形变化

cigar butts plural cigar-butt alternative
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