As a 5-year old Tencent shareholders, can well understand the mood of Tencent shareholders now.
From 470 yuan into the shares, the highest peak time to 700, the lowest point of 199 yuan, 300 early this year, the process to 350 yuan, recently 300 yuan.
To be honest, this process is indeed very abrasive, that now $Tencent(00700)$ in the end is undervalued?
Have been reading a lot of Buffett, Munger, Li Lu and Duan Yongping's books, interviews and articles, which emphasises that value investing is to go to the gross estimate, how to gross estimate it.
In other words, Tencent's entire life cycle of money discounted to the current value in the end is how much? With the strengthening of regulation, I do not think Tencent can be held for a long time.
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