How to fall in love (with a stock)
1/4 The best way to fall in love with a stock is to buy some of it. After that, most negatives will become invisible. To strengthen the love, recommend it your friends and talk about it on twitter

2/4 To deepen the love, follow each & every twist and turn about the company. Watch every interview of the management and obsessively read every research report (more than one time) about the company

3/4 To complete the circle, write a post extolling the greatness of the company, virtues of the management and how good its products are. Attack anyone who dares utter a single negative about it

4/4 If all of the above still leaves some doubt, then keep adding to the position even as the stock price keeps falling, thinking that no one else ‘gets’ it. Your eventual goal is to be proven right and to show the world how smart you are. Ps: I have been guilty of all the above

Buy and hold is a context dependent approach which works best with companies in steady growth industries with high barriers to entry and low rate of change. Applying blindly to other contexts is a recipe for disaster

There are ‘almost’ no absolute truths in investing. It’s always dependent on the context. Engineers and math oriented people like me find it frustrating and keep looking for some holy grail (like DCF). Eventually most realize it is foolish to look for false precision