This question studdenly appeared in my mind, A hypothetical liquid that is completely incapable of transferring (consequentially holding too, right?) Any heat in any way, how would it feel to touch it? We feel cold when heat gets out of our body and hot when it gets in right? Would it just feel perfectly neutral?
The sensation of heat/cold is actually your body either absorbing of releasing heat energy. When you touch an ice cube, the sensation of cold on your skin is not caused by the ice cube transferring coldness, but rather it is robbing your skin of heat energy which you perceive as cold.
A substance incapable of heat transfer would feel like the exact same temperature as your skin, regardless of how much heat energy it is currently holding.