Financial analysis is really a tool for the value investing fundamentalist, instead of a tool for growth stock investing. We don't have to study the financial reports of tecent to make a decision. Once you stick to wechat for more than 2 hours a day, it's the time to pour money into it. It's common sense, more importantly, the conviction that common sense really works in investing. Common sense is knowledge, the conviction is a professional investor mindset which is very hard for layman investor to comprehend.