WSB722: Best Quality Stock Idea Q2 2025 w/ Clay Finck & Kyle Grieve

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 16 May 2025

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Clay and Kyle give an overview of their best quality stock idea for Q2 2025. This quarter, they discuss Booking Holdings. To our surprise, Booking Holdings is the world’s largest travel company. We explore how the company built a dominant position in Europe through its network effect, asset-light business model, and sound capital allocation decisions. We also cover Booking’s competitive advantages, financial performance, and key risks facing the business. Clay finds Bookings Holdings to be a compelling long-term compounder, which led him to initiate a position in the company earlier this year. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:42 - How Booking built its dominant position in Europe and other markets globally. 11:47 - Why Booking Holdings is one of the most dominant and profitable online travel agencies in the world. 16:59 - An overview of the competitive landscape for online travel agencies. 38:21 - Booking Holdings’ competitive advantages. 40:46 - An overview of Bookings’ management team and incentive structure. 01:00:59 - How we view Bookings’ valuation today. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠here⁠⁠⁠. Join the exclusive ⁠⁠⁠TIP Mastermind Community⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Related Episode TIP698: Best Quality Idea Q1 2025 w/ Clay Finck & Kyle Grieve. Related Episode TIP675: Best Quality Idea Q4 2024 w/ Clay Finck & Kyle Grieve. Related Episode TIP652: Best Quality Idea Q3 2024 w/ Clay Finck & Kyle Grieve. Related Episode TIP627: Best Quality Idea Q2 2024 w/ Clay Finck & Kyle Grieve. Related Episode TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve. Follow Kyle on ⁠X⁠ and ⁠LinkedIn⁠. Follow Clay on ⁠X⁠ and ⁠LinkedIn⁠. Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠here⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠Premium Feed⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠. Check out our ⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠X (Twitter)⁠⁠⁠ | ⁠⁠⁠LinkedIn⁠⁠⁠ | ⁠⁠⁠Instagram⁠⁠⁠ | ⁠⁠⁠Facebook⁠⁠⁠ | ⁠⁠⁠TikTok⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠here⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠TIP Finance Tool⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠favorite Apps and Services⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠best business podcasts⁠⁠⁠. SPONSORS Support our free podcast by supporting our ⁠⁠⁠sponsors⁠⁠⁠: SimpleMining Hardblock AnchorWatch Fundrise DeleteMe CFI Education Vanta The Bitcoin Way Onramp Indeed Shopify HELP US OUT! Help us reach new listeners by leaving us a ⁠⁠⁠rating and review⁠⁠⁠ on ⁠⁠⁠Spotify⁠⁠⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/ Support our show by becoming a premium member! ⁠https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP. On today's episode, Kyle and I give an overview of our best quality
0:06.3	stock idea for Q2 2025. This quarter, we discuss booking holdings, which is the stock I
0:12.5	recently added to my own portfolio. To my surprise, booking holdings is the world's largest
0:18.0	travel company. The company has built a dominant position in Europe
0:21.8	and established a formidable network effect that has enabled them to successfully expand
0:26.4	globally, leading to market-beating returns for shareholders. But the business doesn't come
0:31.1	without risks, as Expedia and Airbnb also have a large share in the OTA industry. In addition
0:36.9	to other threats such as AI and
0:38.8	LLMs, booking holdings is a fascinating business, so with that, I hope you enjoy today's discussion.
0:47.8	Since 2014 and through more than 180 million downloads, we've studied the financial markets
0:54.1	and read the books that influence self-made billionaires the downloads. We've studied the financial markets and read the books that
0:55.1	influence self-made billionaires the most. We keep you informed and prepared for the unexpected.
1:01.2	Now for your hosts, Clay Fink and Kyle Greve.
1:15.3	Welcome to the Investors Podcast. I'm your host, Clay Fink, and today I'm happy to be joined by my co-host, Kyle Greve for our
1:20.1	best quality idea series.
1:21.8	For each quarter, Kyle and I break down a quality stock that we currently find interesting
1:26.7	in the market. For Q2, 2025,
1:29.4	we'll be covering booking holdings. This is a large cap company with a $160 billion market
1:35.5	cap that I feel hasn't quite got the attention that it probably deserves. So I'm really excited
1:40.5	to dive into this one today. Yeah, you nailed it, Clay.
1:44.7	Booking Holdings is a surprisingly large business that I've actually used quite a bit,
1:48.4	but more so from one of its ancillary services, which is Open Table.
	...

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