Yes, his strategy is about the opposite. It relies on doing very good stock picking and then holding the stocks for a long time.
I wonder if buy and hold is as good of a strategy now as it was back when he started. He had the luck to start at a time from which there was a decades-long growth in the stock market.
Re:Average stock ownership: 22 seconds
by AndyParkinson on Monday January 10, 2011 @03:19PM
(#2089599)
It is.
Size is Buffett's anchor now. If you give him a small amount of money, say $50Million, I think he'd do wonders with it.
I model my investing style after what he was doing about 10 years into his career and its worked out well for me with very little stress. The only reason I sell is if I find something that looks like a better value, but even if I'm right to move elsewhere the taxes make me question my decision every time.
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."
Quite a contrast.