Schloss Cigar Butt
questflowai/investorskills
A skill your agent uses when evaluating Walter Schloss-style cigar-butt value: cheap stocks, balance sheets, diversification across many bargains, and avoiding glamorous stories.
用户在选择投资标的或商业模式时，纠结于"便宜买差企业"还是"合理价买好企业". An agent skill from kangarooking/buffett-letters-skill.
MITAuto-check passed
Install Cigar Butt Vs Great Business
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a claude-codeProject install by default; add -g for ~/.claude/skills/.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-business --agent claude-codeProject scope by default; add --scope user for a personal install. Needs GitHub CLI 2.90.0 or later (public preview).
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .claude/skills && cp -r skills-src/cigar-butt-vs-great-business .claude/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.claude/skills/ instead of .claude/skills for a personal install. The folder must contain SKILL.md.
Claude Code skills documentation · loads skills from .claude/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .claude/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.Claude Code copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$skill-installer install https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-businessType this inside Codex. $skill-installer <name> installs a curated skill from openai/skills. The installer writes to $CODEX_HOME/skills (default ~/.codex/skills). Restart Codex if the skill does not show up.
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a codexProject install goes to .agents/skills/; add -g for ~/.codex/skills/.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-business --agent codexProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .agents/skills && cp -r skills-src/cigar-butt-vs-great-business .agents/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.agents/skills/ instead of .agents/skills for a personal install.
Codex skills documentation · loads skills from .agents/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .agents/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.Codex copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a cursorProject install goes to .agents/skills/; add -g for ~/.cursor/skills/.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-business --agent cursorProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .cursor/skills && cp -r skills-src/cigar-butt-vs-great-business .cursor/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.cursor/skills/ instead of .cursor/skills for a personal install.
Cursor skills documentation · loads skills from .cursor/skills/, .agents/skills/, .claude/skills/, .codex/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .cursor/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.Cursor copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ gemini skills install https://github.com/kangarooking/buffett-letters-skill.git --path cigar-butt-vs-great-business--scope user (default) or --scope workspace; --path is the subfolder of the repo that holds the skill; --consent skips the security confirmation prompt.
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a gemini-cliProject install goes to .agents/skills/; add -g for ~/.gemini/skills/.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-business --agent gemini-cliProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .gemini/skills && cp -r skills-src/cigar-butt-vs-great-business .gemini/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.gemini/skills/ instead of .gemini/skills for a personal install, then run /skills reload.
Gemini CLI skills documentation · loads skills from .gemini/skills/, .agents/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .gemini/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.Gemini CLI copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-businessInstalls for Copilot at project scope by default; add --scope user for a personal install. Preview a skill first with gh skill preview. Needs GitHub CLI 2.90.0 or later (public preview).
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a github-copilotProject install goes to .agents/skills/; add -g for ~/.copilot/skills/.
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .github/skills && cp -r skills-src/cigar-butt-vs-great-business .github/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.copilot/skills/ instead of .github/skills for a personal install. Commit .github/skills so cloud agent and code review can use it.
GitHub Copilot skills documentation · loads skills from .github/skills/, .claude/skills/, .agents/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .github/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.GitHub Copilot copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
$ npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a opencodeOpenCode documents no install command of its own. Project install goes to .agents/skills/; add -g for ~/.config/opencode/skills/.
$ gh skill install kangarooking/buffett-letters-skill cigar-butt-vs-great-business --agent opencodeProject scope by default (.agents/skills/); add --scope user for a personal install.
$ git clone --depth 1 https://github.com/kangarooking/buffett-letters-skill.git skills-src && mkdir -p .opencode/skills && cp -r skills-src/cigar-butt-vs-great-business .opencode/skills/cigar-butt-vs-great-business && rm -rf skills-srcUse ~/.config/opencode/skills/ instead of .opencode/skills for a personal install.
OpenCode skills documentation · loads skills from .opencode/skills/, .claude/skills/, .agents/skills/
Install the "cigar-butt-vs-great-business" agent skill from https://github.com/kangarooking/buffett-letters-skill/tree/main/cigar-butt-vs-great-business into .opencode/skills/cigar-butt-vs-great-business/ in this project. Copy the whole folder (SKILL.md and every file beside it), keep the folder name "cigar-butt-vs-great-business", then confirm the skill loads.OpenCode copies the folder itself, the same result as the manual copy. Check what it changed before you commit it.
Facts
- Skill name
cigar-butt-vs-great-business- GitHub stars
- 102
- Token cost
- ~481 tokens
- SKILL.md length
- 126 words
- Files
- 2
- Skills in repo
- 12
- Repo updated
- First seen
- Licence
- MIT
At a glance
用户在选择投资标的或商业模式时，纠结于"便宜买差企业"还是"合理价买好企业". An agent skill from kangarooking/buffett-letters-skill.
- Works in 4 steps: 发现一个"很便宜"的公司，但业务质量差 → 一个优秀公司但估值看起来不便宜 → 在"价值陷阱"和"成长溢价"之间犹豫 → …
- SKILL.md covers R — 原文 (Reading), I — 方法论骨架, A1 — 书中的应用 and A2 — 触发场景, plus 4 more sections
- Instructions only: no scripts, shell commands, URLs or credentials in SKILL.md
What it does
Cigar Butt Vs Great Business is an agent skill from kangarooking/buffett-letters-skill. 用户在选择投资标的或商业模式时，纠结于"便宜买差企业"还是"合理价买好企业"。 语言信号:"这个便宜能不能捡"/"估值低是不是就值得买"/"贵的好公司值不值得买"/"便宜货有什么问题" 不适用于:已有明确投资方法论且不需要在两种风格间做选择的场景。
Its SKILL.md is about 480 tokens, which your agent loads only when the skill is triggered. The skill folder holds 1 other file (for example `test-prompts.json`).
The repository describes itself as: An AI skill pack for value investing, capital allocation, and behavioral discipline, distilled from Warren Buffett's 60+ years of shareholder letters. The licence is MIT.
Example prompts
- “便宜买差企业”
- “合理价买好企业”
- “这个便宜能不能捡”
- “/cigar-butt-vs-great-business”
Workflow steps
4 steps, taken from the first numbered list in SKILL.md.
- 发现一个"很便宜"的公司，但业务质量差
- 一个优秀公司但估值看起来不便宜
- 在"价值陷阱"和"成长溢价"之间犹豫
- 反思自己的投资方法论是否需要进化
What it can do on your machine
Read from SKILL.md and the folder at commit 5b1fbe1. It shows what the files ask for, not the result of running them.
Tool permissions
Pre-approves nothing: there is no allowed-tools line, so your agent's usual permission prompts apply.
From allowed-tools in the SKILL.md frontmatter.
Runs code
No scripts in the folder and no shell commands in SKILL.md.
From the folder's file list and the shell code blocks in SKILL.md.
Network
No URLs in SKILL.md.
From URLs in SKILL.md, links to its own repository left out.
Credentials
Names no API keys, tokens, secrets or passwords.
From names ending in _API_KEY, _TOKEN, _SECRET, _KEY or _PASSWORD in SKILL.md.
Context cost
Cigar Butt Vs Great Business loads about 481 tokens when it runs. Until then it costs about 38 tokens; SKILL.md has 126 words of instructions outside code blocks.
Estimates: characters ÷ 4, the usual rule of thumb; real counts depend on the model's tokenizer. Scripts and assets cost tokens only if the agent reads them.
Safety
Auto-check passed
The automated check found no risky patterns in SKILL.md.
Automated static check — not a guarantee. Review scripts before installing. It scans the text of SKILL.md for risky patterns (piping downloads into a shell, reading credential files, hidden Unicode, destructive commands); files beside SKILL.md are not scanned.
SKILL.md
The full file from kangarooking/buffett-letters-skill at commit 5b1fbe1, republished under its MIT licence (© kangarooking). 126 words, ~481 tokens.
Download SKILL.mdSave it as
.claude/skills/cigar-butt-vs-great-business/SKILL.md (or your agent's skills folder). This skill also uses 1 other file; get the full folder from GitHub.- name
- cigar-butt-vs-great-business
- description
- 用户在选择投资标的或商业模式时，纠结于"便宜买差企业"还是"合理价买好企业"。 语言信号:"这个便宜能不能捡"/"估值低是不是就值得买"/"贵的好公司值不值得买"/"便宜货有什么问题" 不适用于:已有明确投资方法论且不需要在两种风格间做选择的场景。
- source_book
- 《巴菲特致股东的信》 沃伦·巴菲特
- source_chapter
- 1967年信 / 1983年信 / 1985年信 / 1987年信
- tags
- quality-vs-price, cigar-butt, business-quality, evolution
- related_skills
- economic-moat, compounding-thinking, margin-of-safety
雪茄蒂 vs 伟大企业
R — 原文 (Reading)
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price." (1987) "We have made silk purses from silk, but never from a sow's ear." (1987)
I — 方法论骨架
从雪茄蒂到伟大企业的心路历程：
- 雪茄蒂方法（Graham）：捡起被抛弃的雪茄蒂，还能免费抽一口——问题是一次性的
- 伟大企业方法（Munger影响）：以合理价格买入优秀企业，让时间和复利为你工作
- 差企业消耗你的时间、注意力和资本——即使买入价很低
- 好企业会自我增长——需要极少的管理和额外资本
- 巴菲特花了近20年才完成这个思维转变（1949→1967）
A1 — 书中的应用
案例: 伯克希尔纺织业
- 问题: 便宜买入差企业（纺织业），持续投入资本
- 使用: 典型的雪茄蒂错误——低价买入但行业衰退、需要持续资本投入
- 结果: 巴菲特承认这是他最大的错误之一——"用丝绸做丝线钱包是我们能做到的最好，猪耳朵则不行"
案例: See's Candy（反面）
- 使用: 以"合理"价格买入伟大企业——需要极少资本即可持续增长
- 结果: 50年贡献$20亿+利润——证明伟大企业的复利力量远超雪茄蒂的"免费一口"
A2 — 触发场景
- 发现一个"很便宜"的公司，但业务质量差
- 一个优秀公司但估值看起来不便宜
- 在"价值陷阱"和"成长溢价"之间犹豫
- 反思自己的投资方法论是否需要进化
语言信号
- "这个公司很便宜，能不能买？"
- "PE只有3倍，是不是捡漏？"
- "好公司太贵了，值不值得买？"
- "便宜买差企业还是贵买好企业？"
与相邻 skill 的区分
- 与
margin-of-safety的区别：安全边际强调价格保护，本skill强调企业质量优先于价格 - 与
economic-moat的区别：护城河识别好企业，本skill是整体方法论的选择
E — 可执行步骤
做"猪耳测试"
- 完成标准：这家企业即使管理得当，能变成伟大的企业吗？如果不能 → 放弃，不管多便宜
比较时间投入
- 完成标准：持有这个投资需要你花多少时间管理？差企业消耗的注意力成本是否超过价格折扣？
计算"复利差距"
- 完成标准：好企业10年后的内在价值增长 vs 差企业的一次性折扣——前者几乎总是远大于后者
B — 边界
- 雪茄蒂方法并非完全无效——在极低价格下仍可获得一次性收益
- "合理价格买好企业"的"合理"需要准确定义——不能是任何价格
- 作者盲点：巴菲特早期用雪茄蒂方法赚到了第一桶金——没有雪茄蒂阶段可能没有后来的伟大企业阶段
相关 skills (阶段 3 填充)
- depends-on: economic-moat, compounding-thinking
- contrasts-with: margin-of-safety
审计信息
- 验证通过: V1 ✓ / V2 ✓ / V3 ✓
- 蒸馏时间: 2026-04-16
© kangarooking, MIT. Rendered from Markdown: HTML in the file is shown as text, images as links, and headings moved down two levels. Raw file
Files
SKILL.md and 1 other file in cigar-butt-vs-great-business of kangarooking/buffett-letters-skill.
- SKILL.md
- test-prompts.json
Open the folder on GitHubat commit 5b1fbe1
Compare with similar skills
Cigar Butt Vs Great Business next to the 5 skills that share the most tags, products or categories with it. Stars are the repository's; “used in” counts other GitHub owners with a copy.
| Skill | Stars | Used in | Tokens | Auto-check | Licence | Repo updated |
|---|---|---|---|---|---|---|
| Cigar Butt Vs Great Business this skillkangarooking/buffett-letters-skill | 102 | — | ~481 | Automated safety check: Pass | MIT | |
| Schloss Cigar Buttquestflowai/investorskills | 1.9k | — | ~468 | Automated safety check: Pass | MIT | |
| Writing Great Skillsmohitagw15856/pm-claude-skills | 1.4k | — | ~1.8k | Automated safety check: Pass | MIT | |
| Great Docspymc-labs/pathmc | 132 | — | ~2.7k | Automated safety check: Pass | MIT | |
| Writing Great Skillsstevesolun/ctx | 588 | — | ~421 | Automated safety check: Pass | MIT | |
| Writing Great Skillstrailofbits/skills-curated | 513 | — | ~2.5k | Automated safety check: Pass | CC-BY-SA-4.0 |
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Questions about Cigar Butt Vs Great Business
What does Cigar Butt Vs Great Business do?
用户在选择投资标的或商业模式时，纠结于"便宜买差企业"还是"合理价买好企业". An agent skill from kangarooking/buffett-letters-skill. Cigar Butt Vs Great Business is an agent skill from kangarooking/buffett-letters-skill.
How do I install Cigar Butt Vs Great Business in Claude Code?
Run `npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a claude-code`. Or copy the skill folder (cigar-butt-vs-great-business in kangarooking/buffett-letters-skill) into .claude/skills/cigar-butt-vs-great-business in your project. Claude Code loads it when a task matches its description.
How do I install Cigar Butt Vs Great Business in Codex?
Run `npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a codex`. Or copy the skill folder (cigar-butt-vs-great-business in kangarooking/buffett-letters-skill) into .agents/skills/cigar-butt-vs-great-business in your project. Codex loads it when a task matches its description.
Can I use Cigar Butt Vs Great Business in Cursor, Gemini CLI or GitHub Copilot?
Cursor, Gemini CLI, GitHub Copilot and OpenCode also load SKILL.md folders. With the skills CLI, run `npx skills add kangarooking/buffett-letters-skill --skill cigar-butt-vs-great-business -a cursor` (or -a gemini-cli, github-copilot or opencode for the others). To copy it by hand, put the folder in .cursor/skills/cigar-butt-vs-great-business, .gemini/skills/cigar-butt-vs-great-business, .github/skills/cigar-butt-vs-great-business and .opencode/skills/cigar-butt-vs-great-business in your project.
What does Cigar Butt Vs Great Business need to run?
SKILL.md names no scripts, command-line tools or credentials: Cigar Butt Vs Great Business is instructions for the agent only.
Does Cigar Butt Vs Great Business access the network?
SKILL.md contains no URLs. Any network use would come from the scripts or tools the agent runs. This is read from the text; nothing was executed.
Is Cigar Butt Vs Great Business safe to install?
Our automated static check of SKILL.md found no risky patterns, such as piping downloads into a shell, reading credential files or hidden Unicode. It is not a guarantee. Review the folder before installing.
What licence does Cigar Butt Vs Great Business use?
Cigar Butt Vs Great Business is published under the MIT licence (the repository's licence). It allows redistribution, so the full SKILL.md is shown on this page.
How many tokens does Cigar Butt Vs Great Business use?
About 481 tokens (SKILL.md is roughly 1.9k characters). Agents keep only the skill's name and description in context until a task matches; then they load SKILL.md in full.
What are the alternatives to Cigar Butt Vs Great Business?
Skills that share tags, products or a category with Cigar Butt Vs Great Business: Schloss Cigar Butt (questflowai/investorskills, 1.9k stars), Writing Great Skills (mohitagw15856/pm-claude-skills, 1.4k stars), Great Docs (pymc-labs/pathmc, 132 stars) and Writing Great Skills (stevesolun/ctx, 588 stars). The comparison table on this page puts their stars, adoption, token cost, safety result and licence side by side.
Who maintains Cigar Butt Vs Great Business?
kangarooking (a GitHub user) maintains it in kangarooking/buffett-letters-skill, which has 102 GitHub stars. The repository holds 12 skills in this directory. The repository was last updated on April 17, 2026.
Source: kangarooking/buffett-letters-skill on GitHub. Facts on this page come from the repository at the commit we read; the author's words are quoted as theirs.