Buffett is a fan of the “cigar butts with one last puff left” [1]. It seems like he's applying a similar philosophy here. [1]: http://basehitinvesting.com/warr

Buffett is a fan of the “cigar butts with one last puff left” [1]. It seems like he's applying a similar philosophy here. [1]: http://basehitinvesting.com/warren-buffett-letter-on-walter-schloss/ http://basehitinvesting.com/warren-buffett-letter-on-walter-...