“I can see your point of view, but your ideas about what it means to invest or “Buy and Hold” as you put it are wrong. Value Investors do have exits, but those exits are fundamental to the cash-flow producing Asset. Basically to answer your question if Google falls 99.9999999 percent, while still remaining fundamentally as profitable as it was when i bought it at $700, I will buy the whole company. Who wouldn’t want to acquire 10 billion dollars in profits for a few dollars.”
Come on. The whole value/buy & hold/long only investing approach was sold as a ‘set it and forget it’ investing mentality by the mutual funds and fundamental talking heads. It doesn’t work.
I do agree with your example though. I would buy it like that fairy tale too!