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Lossless Codecs... just to be clear

Just to be clear, when using a lossless codec, I can import/export the same footage a infinite number of times without losing a single pixel of quality, correct?

I apologize if this is obvious. Or if it is hopelessly misguided.
 
Bear in mind that i am not a professional editor. My capabilities are intermediate at best.

Your questions aroused my curiosity and after searching and reading a bit online it seems that it depends on the codec, which ones have been verified as truly lossless and the settings when using the codec.

Someone else can probably provide more information.
 
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As I've continued research, some have said that no information is lost through import/export cycles. I've been unable to find an answer from a definitively trustworthy source, however.

I guess the only option left is to test it myself!
 
That's always been my understanding, a lossless codec retains all the information of the native source file. I don't think too much editing at this level however is done with lossless codecs, normally we'll edit in a native codec or a "Near" lossless codec such as Cineform. With CF I believe you can go through 17 or 18 renders without perceptible generation loss.
 
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