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ferrule : the protective point or knob on the far end of an umbrella
He used his umbrella as a cane, and with every step planted its ferrule in the ground.
Ferrule comes from the Latin viriola, meaning "small bracelet." This makes more sense when you consider that ferrule is also the term for the metal band at the end of a table leg (or similar object) that strengthens it or prevents it from splitting.