Tencent Music: A Portfolio Adjustment
The divestment, it should be noted, coincided with a period of peculiar volatility for Tencent Music. The stock, a creature of habit and expectation, dipped nearly 25% during that quarter, a fall that likely prompted a reassessment of risk-reward ratios. One imagines portfolio managers, those meticulous gardeners of wealth, compelled to make difficult choices, perhaps with a sigh and a glance at the quarterly reports. The subsequent rally, a 37.2% ascent over the year—a performance that rather outstripped the S&P 500 by a comfortable 25.05 percentage points—only complicates the narrative. Was this a vote of no confidence, or simply a demonstration of disciplined portfolio management?








