Quote from Ndubuisi Ekekwe on July 28, 2019, 9:02 AM

It is simply amazing what WeChat has done in China. It remains painful that 2go folded in Africa. These two charts explain WeChat in a great way. But it has a big risk: it can just go away.

This summer, millions have marched in Hong Kong to protect their civil liberties. If a similar movement were to rise inside fully Communist China, the government likely would curtail WeChat or shut it down entirely. If that occurs, Tencent’s income statement will not look pretty—if Western shareholders get to look at it at all. Do we as long-term investors really want to take these kinds of black-swan risks?