TIP722: Best Quality Stock Idea Q2 2025 w/ Clay Finck & Kyle Grieve
We Study Billionaires - The Investor’s Podcast Network
Balanced Incentive Scheme
- Booking aligns CEO incentives with adjusted EBITDA and strategic goals, excluding share-based comp from EBITDA.
- CEO's high pay reflects strong performance: 25% share price growth and revenue growth above 18% in 3 years.
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
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- Related Episode TIP604: Best Quality Idea Q1 2024 w/ Clay Finck & Kyle Grieve.
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