Becoming Warren Buffet: The Cigar Butt (4)
Warren Buffet coined a policy called: "The cigar's butt", the name is weird but it will make sense in a minute.
First, you gotta look at this picture before you complete reading.
After you see this picture, you could see that it's more related to who is looking, for an ordinary person (who is usually a business owner) it has finished, and it's now a liability, and as a business owner, he might think how could I get rid of this, but for an extraordinary person as Warren Buffet, he sees something different.
Warren Buffet could see that this cigar has almost ended, but it still has some smoke in it, because he used to look for opportunities where other people don't.
For the business owner, he wants to get rid of the shares, but for Warren Buffet he sees opportunity because he could buy it for a reasonable price, and earn some profits from it before he resells it, and he might see an opportunity to grow it bigger.
The idea is not only investment-wise, it's seeing opportunities where no one else does.
Napoleon Hill said that opportunities hide in other forms, maybe in challenges, maybe in issues, but they don't appear as opportunities.
That's why for the third time, you need to look further, to achieve more.
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