I bought a collapsible wading staff a few years ago - Folstaf brand.
Before that, I had a homemade staff made from a wooden mop handle with a length of parachord tied to the end and then to the loop at the bottom of my vest. I had just enough rope so that I could toss the stick over my shoulder when casting and it stayed out of my way.
I guess I succumbed to a bit of ribbing from my fishing buddies about my redneck hillbilly stick and forked out $80 for the new fangled Folstaff gear.
One day I was crossing a stream in a bit of heavy current and the staff got stuck between a couple of rocks at just the wrong moment and the sections pulled apart - just when I needed that third leg the most. Needless to say I got soaked and somehow even managed to bend a section of the staff.
I promptly returned to my wooden mop handle - which btw - serves double duty as a bushwhacking stick - something those collapsible models are incapable of.