Crossword Genius

Worthless asset (5,8)

Ross

I believe the answer is:

white elephant

(Other definitions for white elephant that I've seen before include "conspicuous failure" , "liability" , "Useless, unwanted possession" , "The inapt wheel (anag) - extravagant item that proves useless" , "Unwanted gift" .)

I've seen this clue in The Guardian.
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