Have you heard of the concept of investing in 'cigar butts'?

It is the strategy that Buffett adopted in his early days, buying distressed companies at less than their liquidation value.
A simple idea: one last chance (a breath of fresh air), but it yields a profit.
And he achieved an average return of about 31% for more than a decade… then stopped.
Why?
The fund size grew, and a more efficient approach emerged inspired by Charlie Munger:
Buying great companies at a fair price is better than buying average companies at an attractive price.
The question for you:
Do you prefer to seize distressed opportunities, or invest in high-quality companies that achieve compound growth?