{"id":11139,"date":"2022-08-17T23:56:00","date_gmt":"2022-08-17T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=11139"},"modified":"2025-12-19T09:40:52","modified_gmt":"2025-12-19T01:40:52","slug":"possibility-of-long-term","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/","title":{"rendered":"Possibility of long-term holdings,  Deep dive on Buffett&#8217;s case"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Long-term_holding_to_get_rich\" >Long-term holding to get rich<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Long-term_holding_is_extremely_important\" >Long-term holding is extremely important<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Long-term_holding_discussion_in_my_books\" >Long-term holding discussion in my books<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Which_company_is_more_suitable\" >Which company is more suitable?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#ETFs_tracking_broader_market\" >ETFs tracking broader market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Monopoly\" >Monopoly<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Companies_without_competitors\" >Companies without competitors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Companies_consistently_delivers_good_performance\" >Companies consistently delivers good performance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#What_about_technology_companies\" >What about technology companies?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Characteristics_of_tech_companies\" >Characteristics of tech companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Take_four_companies_as_an_example\" >Take four companies as an example<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#IBM\" >IBM<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Wang_Laboratories\" >Wang Laboratories<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Computer_Associates\" >Computer Associates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Oracle\" >Oracle<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Five_Buffett_holdings\" >Five Buffett holdings<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Coca-Cola\" >Coca-Cola<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#American_Express\" >American Express<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Moodys\" >Moody&#8217;s<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Globe_Life\" >Globe Life<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Procter_Gamble\" >Procter &amp; Gamble<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long-term_holding_to_get_rich\"><\/span>Long-term holding to get rich<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It&#8217;s impossible to get rich without long-term investing. Long-term investment and long-term stock holding are the most important prerequisites for stock market investors, and nothing else is more important than this.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long-term_holding_is_extremely_important\"><\/span>Long-term holding is extremely important<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many friends have read my book &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of Super Growth Stocks Investing<\/a>&#8220;,  &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of 10 Baggers<\/a>&#8220;, and this blog, and they all feel the same way about long-term investing. However, I also have to admit that the next question many people ask is that the world is changing too fast, and it is getting faster and faster, and the possibility of long-term stock holdings is getting lower and lower. What we&#8217;re going to discuss in this article is the possibility of long-term holdings, and the long-term holdings of companies that are suitable for investors.<\/p>\n\n\n\n<p>My standard is twenty years or more.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Long-term_holding_discussion_in_my_books\"><\/span>Long-term holding discussion in my books<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Especially long-term holdings are extremely important, so in my last two books, I have spent a lot of time discussing the extremely important topic of long-term investment; including:<\/p>\n\n\n\n<p>In my book &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010889106?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of Super Growth Stocks Investing<\/a>&#8220;:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Section 1-1, pages 20-21, several key points about super growth stocks<\/li>\n\n\n\n<li>Section 1-1, pages 23-26, about the success stories of several famous ordinary people in long-term investment<\/li>\n\n\n\n<li>Sections 1-3, pages 36-44, on the compounding effect of long-term investments<\/li>\n\n\n\n<li>Sections 1-4, pp. 45-58, on why not investing for the long term can fail and 4 advantages of holding stocks for the long term<\/li>\n<\/ul>\n\n\n\n<p>In my book &#8220;<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">The Rules of 10 Baggers<\/a>&#8220;:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Section 4-1, pp. 184-192, on the 10x stock investing strategy<\/li>\n\n\n\n<li>Section 4-2, pp. 193-202, on long-term holdings and patience<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_company_is_more_suitable\"><\/span>Which company is more suitable?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ETFs_tracking_broader_market\"><\/span>ETFs tracking broader market<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You would never have guessed that I would list ETFs tracking broader market first! Strictly speaking, &#8220;<a href=\"http:\/\/S&amp;P 500 index, the only stock worth holding forever\" target=\"_blank\" rel=\"noreferrer noopener\">S&amp;P 500 index, the only stock worth holding forever<\/a>&#8220;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Monopoly\"><\/span>Monopoly<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are many types of monopoly, including substantial monopoly or oligopoly. Several companies collectively manipulate the market through different methods to control market share. But the prerequisite is that the company must have a moat, that is, an economic competitive advantage, otherwise all this is difficult to achieve.<\/p>\n\n\n\n<p>Friends who are interested in in-depth understanding of the discussion on moats and corporate economic competitiveness can refer to the special chapter in Chapter 2 of my book &#8220;The Rules of Super Growth Stocks Investing&#8221;.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Companies_without_competitors\"><\/span>Companies without competitors<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many people may question that there is no such enterprise in the world! Please refer to the several listed companies listed in the article &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/09\/13\/there-are-indeed-monopoly\/\">There are indeed monopoly in this world<\/a>&#8221; that I wrote. They are unlikely to have rivals in the past, present, and even in the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Companies_consistently_delivers_good_performance\"><\/span>Companies consistently delivers good performance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Note that we are emphasizing the word &#8220;continuous&#8221; here. This kind of enterprise may face many challenges, as well as large and small competitors, but it can still resolve them one by one and deliver good results. After all, companies with monopoly and no competitors are a minority, so &#8220;most of the stocks of companies that are suitable for investors to hold for a long time belong to this category.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_about_technology_companies\"><\/span>What about technology companies?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Characteristics_of_tech_companies\"><\/span>Characteristics of tech companies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Honestly, tech companies are far less likely to meet these criteria. There are gains and losses; tech companies share the following common characteristics:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>P\/E ratios and all market valuations are high in good times.<\/li>\n\n\n\n<li>The business is growing much faster than other businesses.<\/li>\n\n\n\n<li>Market share is obtained, and business expansion is also easy; especially in the Internet age, this advantage is highlighted.<\/li>\n\n\n\n<li>Stock prices fluctuate wildly.<\/li>\n<\/ul>\n\n\n\n<p>But it comes and goes quickly; few tech companies are suitable for investors to own &#8220;for the long term.&#8221; A company like Texas Instruments is extremely rare. For detailed reasons, please refer to my previous post &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/12\/good-companies-are-rare-two-or-three-will-make-you-very-rich-take-texas-instruments-as-an-example\/\" target=\"_blank\" rel=\"noreferrer noopener\">Great companies are rare, two or three will make you very rich<\/a>&#8221; and &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/11\/22\/texas-instruments-bio\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does Texas Instruments make money? Amazing long term capital reward and company net profit margin!<\/a>&#8220;.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Take_four_companies_as_an_example\"><\/span>Take four companies as an example<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Let&#8217;s take the most famous IBM (ticker: IBM), <a href=\"https:\/\/en.wikipedia.org\/wiki\/Wang_Laboratories\" target=\"_blank\" rel=\"noreferrer noopener\">Wang Laboratories<\/a>, Computer Associates, Oracle (ticker: ORCL) as examples. These four companies are the hegemons of the technoloy when they are on the glory day, and they are no less than today&#8217;s Apple (ticker: AAPL) and Microsoft (ticker: MSFT), and even more. But now what? All this has changed in the last twenty years, yes! It&#8217;s only been twenty years, and it&#8217;s beyond recognition.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IBM\"><\/span>IBM<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the past two decades, IBM, a century-old enterprise, has had almost lackluster operations and stagnant growth. Of all the sub-sectors of the tech industry, IBM is no longer the leader in any sub-sectors of the tech industry. For IBM in detail, please refer to my post &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/07\/16\/ibm-cloud\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does IBM make money? What\u2019s next?<\/a>&#8220;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Wang_Laboratories\"><\/span>Wang Laboratories<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Before the advent of personal computers, Wang Laboratories, founded by Chinese Wang An, was a technological device that all companies had to purchase for word processing at that time. However, the emergence of personal computers has made the price of computers more commonplace, and Wang Laboratories&#8217;s core business, word processing, is no longer an expensive and out-of-reach software. Personal computers are not only equipped with more advanced graphics display methods, but also have many software options that are more advanced than Wang Laboratories&#8217;s word processing equipment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Computer_Associates\"><\/span>Computer Associates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Computer Associates, a company founded by Chinese, was the second largest company by market value in the computer industry twenty or thirty years ago. But in the past fifteen years, it has hardly had visibility, and finally the group was acquired by Broadcom. Please refer to the description in my previous post &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/23\/significant-changes-in-broadcoms-business-approach\/\" target=\"_blank\" rel=\"noreferrer noopener\">Significant changes in Broadcom\u2019s business approach<\/a>&#8220;.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Oracle\"><\/span>Oracle<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although the software company with the second largest market capitalization 20 years ago is still active in the software market, the consensus of most people in the industry is that its beauty is in the past tense; because it missed the cloud computing revolution, and the core database has been hit again. To the competition of countless rising stars, coupled with many free open systems eroded its market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Five_Buffett_holdings\"><\/span>Five Buffett holdings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Buffett has a lesson for all investors when it comes to the possibility of long-term holdings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Coca-Cola\"><\/span>Coca-Cola<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The longest-held stock in Berkshire&#8217;s portfolio is beverage stock Coca-Cola (ticker: KO). Coca-Cola has been Buffett&#8217;s core asset since 1988. Hold for 34 consecutive years. Regarding Coca-Cola, you can refer to my two previous articles &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/02\/coca-cola-has-been-inferior-to-pepsi-in-and-even-return-rate-is-negative-in-past-10-years\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coca-Cola has been inferior to Pepsi in and even return rate is negative in past 10 years!<\/a>&#8221; and &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/06\/22\/pros-and-cons-of-coca-cola\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pros and cons of investing in Coca-Cola<\/a>&#8220;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"American_Express\"><\/span>American Express<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>29 years, the second-longest-held Buffett stock is credit services provider American Express (ticker: AXP). American Express has been a fixture in Berkshire&#8217;s portfolio since 1993.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Moodys\"><\/span>Moody&#8217;s <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>22 years, Buffett&#8217;s third long-term holding is the credit rating agency Moody&#8217;s (ticker: MCO). Berkshire has been a shareholder since 2000, when Moody&#8217;s was spun off from Dun &amp; Bradstreet.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Globe_Life\"><\/span>Globe Life<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Hold for 21 years. Aside from bank stocks, insurance companies are probably one of Buffett&#8217;s favorite places to put his company money. Globe Life (ticker: GL ), an insurer known as Torchmark until August 2019, has been Berkshire&#8217;s continuing holding company since 2001.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Procter_Gamble\"><\/span>Procter &amp; Gamble<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Procter &amp; Gamble (ticker: PG ) stock in the early 2000s is now a rarity in Berkshire&#8217;s portfolio weightings because Buffett sold some of his holdings in Procter &amp; Gamble. But Procter &amp; Gamble joined in the first quarter of 2005, meaning Berkshire has owned it for 18 years.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"146\" height=\"178\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2022\/08\/p-1600x1200-1.jpg\" alt=\"long-term\" class=\"wp-image-13037\"\/><figcaption class=\"wp-element-caption\">Credit: Peggy_Marco<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investing is easier said than done, and I\u2019ll end this post with a quote from Buffett: &#8220;Investing is easy, but it\u2019s not easy.&#8221; In his <a href=\"https:\/\/berkshirehathaway.com\/letters\/1996.html\" target=\"_blank\" rel=\"noreferrer noopener\">1996 shareholders letter<\/a>, he wrote &#8220;If you&#8217;re not willing to own a stock for 10 years, don&#8217;t even think about owning it for 10 minutes.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"block-d8a344e9-4edc-4dc1-b981-40aa61d258b5\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/12\/18\/taiwanese-investor\/\">Investment habits of Taiwanese investors<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/11\/26\/long-term-taiwan-investor\/\">Almost no long-term Taiwan investors<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/12\/14\/public-reaction-long-term\/\">Public reaction on Almost no long-term Taiwan investors<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"http:\/\/s%26p%20500%20index%2C%20the%20only%20stock%20worth%20holding%20forever\/\" target=\"_blank\" rel=\"noreferrer noopener\">S&amp;P 500 index, the only stock worth holding forever<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/10\/16\/long-term-investors\/\" target=\"_blank\" rel=\"noreferrer noopener\">Stocks are the best bet for long-term investors<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/03\/20\/long-term-investment\/\">How Buffett Structures His Long-Term Investment Portfolio<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/07\/08\/buffetts-dividend\/\">87% of Buffett&#8217;s dividends come from these 7 stocks&#8221;<\/a><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/12\/07\/buffett-investment-idea\/\">What helps Buffett to get his investment idea?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/17\/possibility-of-long-term\/\">Possibility of long-term holdings, Deep dive on Buffett&#8217;s case<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/12\/14\/buffett-hold-for-long-haul\/\" target=\"_blank\" rel=\"noreferrer noopener\">Is Buffett no longer hold for long haul? TSMC, HP, and US Bancorp cases study<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/06\/21\/why-long-term-investment\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why long-term investment is better?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/investors-should-pay-attention-to-the-annualized-rate-of-return-irr-how-to-calculate\/\" target=\"_blank\" rel=\"noreferrer noopener\">Investors should care annualized rate of return (IRR), calculate with free IRR Calculator<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/09\/13\/there-are-indeed-monopoly\/\">There are indeed monopoly in this world<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/23\/significant-changes-in-broadcoms-business-approach\/\" target=\"_blank\" rel=\"noreferrer noopener\">Significant changes in Broadcom\u2019s business approach<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/12\/good-companies-are-rare-two-or-three-will-make-you-very-rich-take-texas-instruments-as-an-example\/\" target=\"_blank\" rel=\"noreferrer noopener\">Take Texas Instruments as an example, great companies are rare, two or three will make you very rich<\/a>&#8220;<\/li>\n\n\n\n<li><span style=\"font-size: revert;\">&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/02\/coca-cola-has-been-inferior-to-pepsi-in-and-even-return-rate-is-negative-in-past-10-years\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coca-Cola has been inferior to Pepsi in and even return rate is negative in past 10 years!<\/a>&#8220;<\/span><\/li>\n\n\n\n<li><span style=\"font-size: revert;\">&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/06\/22\/pros-and-cons-of-coca-cola\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pros and cons of investing in Coca-Cola<\/a>&#8220;<\/span><\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/07\/12\/american-express\/\">American Express, one of the best investments of Buffett&#8217;s career<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/12\/29\/procter-gamble-pg\/\">Stocks Better than the S&amp;P 500, Procter &amp; Gamble (P&amp;G) <\/a><\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Possibility of long-term holdings, Many friends have read my book &#8220;The Rules of Super Growth Stocks Investing&#8221; and my blog, and they all feel the same way about long-term investing. <\/p>\n","protected":false},"author":1,"featured_media":13037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,45,204,11],"tags":[2,371,655,48,49,831,168,139,153,3,339,63,38],"class_list":["post-11139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-long-term-investing","category-etf","category-moats-and-competitive-advantages","category-buffett","tag-aapl","tag-avgo","tag-axp","tag-brk-a","tag-brk-b","tag-gl","tag-ibm","tag-ko","tag-mco","tag-msft","tag-orcl","tag-pg","tag-txn"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/11139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=11139"}],"version-history":[{"count":51,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/11139\/revisions"}],"predecessor-version":[{"id":40660,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/11139\/revisions\/40660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/13037"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=11139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=11139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=11139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}