LongTMEOct 2026
Tencent Music Entertainment Group
Moon Capital Management bought Tencent Music Entertainment at roughly $8 per share, seeing a dominant subscription-led entertainment platform where the market prices in a…
Moon Capital Management
Fundamental value investing in businesses with assessable long-term economics, purchased at meaningful discounts to estimated intrinsic value.1 published idea
Moon Capital Management is an investment manager whose third-quarter letter is written by David Moon. The manager focuses on understanding business economics and buying shares at prices below its assessment of value. It has avoided direct investments in AI infrastructure where the eventual returns on capital appear too uncertain, while favoring holdings with identifiable cash flow, competitive advantages and valuation support.
Ideas from Moon Capital Management
Letters covered
- Intellectual Capital — 2026 Q3 letterOctober 27, 2026
Source PDFs are not republished here; only extracted ideas and quotes.