Has Buffett's "permanent holding" persona collapsed?

Many people quote Buffett's famous sayings, but they overlook a truth: his publicly held stock portfolio actually has a relatively high turnover rate. Companies like American Express and Coca-Cola are exceptions; what he truly "permanently holds" are those private enterprises.

In other words, the label "never sell" is more attached to the entire companies that Berkshire has bought, rather than the stock portfolio. Blindly copying Buffett's holdings may lead to pitfalls. To understand his true trading logic, it is essential to distinguish clearly between: overall business vs stock investment, as these two approaches are fundamentally different.

If you want to follow an investment master, first understand their real operations and don't be misled by "legends".