I have always been fascinated by the concept of human perception, especially when it comes to the selective decision-making process of what to remember and what not to.
As a young man, I fell in love with the Alfa Romeo GT Junior sportscar. To me, there was no car more beautiful than that little red monster. It didn’t matter to me that technology, luxury and handling had improved over the years; I believed that if you were lucky enough to find one of these beauties, it would be the last car you own.
About 15 years later, I finally managed to buy a 1976 model and I could hardly contain my excitement as I waited for the arrival of my new toy. Make no mistake, I enjoyed this car immensely, but what I imagined I would be driving and what I actually ended up driving were two very different cars. Compared to modern cars, the 1976 Alfa was a bumpy ride, it was uncomfortable and, in many ways, highly impractical.
If you ask Warren Buffett, one of the most successful investors of our time, what his favourite holding period is for a share that he has bought, his answer will be, “forever”. So, if Buffett follows a buy-and-hold strategy, then surely, much like the Alfa Romeo sportscar in 1976, it should be the best strategy?
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