Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Consider Taking The Last Few Puffs Of The Ambassadors Group 'Cigar Butt'

Ambassadors Group (NASDAQ:EPAX) ("EPAX" or "the company") is the quintessential cigar butt stock, where investors are offered to take the last few puffs of another investor's discard for a nominal price, or even for free. Cigar butt investing, as the name implies, certainly isn't a glamorous style of investing. It is especially unglamorous when compared to finding the next 10-bagger like Netflix (NASDAQ:NFLX) or Amazon (NASDAQ:AMZN), but that doesn't mean the merits of such investments are not worthy of capital allocation. Many times cigar butt investing offers very attractive risk/reward scenarios, as in the case of EPAX.

EPAX is a very interesting investment opportunity at current prices, where net cash makes up most of...

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