Core Insights - Li Ka-shing's wealth is primarily concentrated in the UK rather than Hong Kong, challenging the perception of his business empire being rooted in his home city [1][3] - His investments in the UK span essential services such as water, electricity, and gas, which provide stable and significant returns compared to the volatile Hong Kong real estate market [5][7] Investment Strategy - Li Ka-shing's acquisition of Thames Water in 1991 marked the beginning of his strategic investment in the UK, which has expanded to include significant stakes in gas and electricity distribution [5][7] - His investments are characterized by a focus on essential infrastructure, which ensures consistent cash flow and minimizes risk [7][9] Market Timing and Risk Management - Li Ka-shing has demonstrated a keen ability to time his investments, often capitalizing on market downturns, such as acquiring UK Power Networks during the Brexit-induced depreciation of the pound [9][11] - His withdrawal from certain investments, like the sale of UK Power Networks, reflects a strategic response to emerging political and economic risks, showcasing his proactive risk management approach [9][11] Global Asset Allocation - The narrative of Li Ka-shing's wealth migration illustrates the concept that capital transcends borders, driven by a relentless calculation of risk and return [13] - His global investments are not limited to the UK, as he is also exploring opportunities in regions like Singapore and Vietnam, indicating a broader strategy for wealth diversification [13]