In 1962, Buffett bought American Express and held it for nearly 60 years without selling. During this period, American Express encountered the "salad oil scandal," and its stock price plummeted by 50%. Almost everyone on Wall Street was selling, but Buffett increased his position instead. This investment eventually grew by over 150 times. Most people's reaction after hearing this story is: his stock-picking vision is too good. That vision is an illusion. In his 1996 shareholder letter, Buffett wrote that they hold good companies for a period that is always longer than the market expects. After 60 years, his core advantage is only one: he can do what the vast majority of people cannot do—nothing at all...