WSB722: Best Quality Stock Idea Q2 2025 w/ Clay Finck & Kyle Grieve
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.
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NEW TO THE SHOW?
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Browse through all our episodes (complete with transcripts) here.
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SPONSORS
Support our free podcast by supporting our sponsors:
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HELP US OUT!
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1:16:16
BTC234: Bitcoin Torque, Saylor's Playbook w/ Andy Edstrom (Bitcoin Podcast)
Andy Edstrom unpacks whether Bitcoin is truly the last asymmetric bet for companies, diving into MicroStrategy's model, capital structure risks, and Bitcoin's rising institutional role.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:40 - Why Michael Saylor calls Bitcoin a lifeline for “zombie companies”
05:20 - How Bitcoin’s returns compare to traditional assets over the last decade
07:10 - The strategic and accounting evolution enabling Bitcoin treasury allocations
12:00 - MicroStrategy’s premium-to-NAV strategy and its replicability
15:40 - Risks and rewards of BTC-backed leverage and convertible notes
18:05 - The logic behind “torque” metrics in Bitcoin-financed capital structures
21:10 - If preferred shares like STRK and STRF are innovative or dangerous
23:05 - Wall Street’s changing views on Bitcoin-leveraged equity plays
27:20 - Legal and governance hurdles in corporate Bitcoin adoption
29:10 - What a BTC-heavy balance sheet should do during a major drawdown
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Andy’s X Account.
Microstrategy Shareholders’ Meeting: Q1 2025 Earnings Call.
Michael Saylor’s speech at Strategy World: Bitcoin for Corporations 2025 Keynote Speech.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals Starter Packs.
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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
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/
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In this episode, Clay and Kyle reflect on their weekend at the Berkshire Hathaway annual shareholders meeting in Omaha and play a few of their favorite clips from the Q&A session with Warren Buffett, Greg Abel, and Ajit Jain.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:16 - Our thoughts on Buffett’s announced retirement of CEO at Berkshire Hathaway.
07:07 - How Warren Buffett and Greg Abel’s management style might differ as CEO.
20:03 - Why Buffett seeks to surround himself with wonderful people.
35:03 - How Buffett and Abel balance patience with acting quickly and opportunitistically.
49:31 - How Buffett and Abel view Berkshire’s investments in Japan.
01:06:05 - The most important factor to consider when investing in emerging markets.
01:10:44 - Berkshire’s recent investment activity and Buffett’s thoughts on today’s market.
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.
Watch the full shareholders meeting here.
Related Episode: TIP629: Berkshire Hathaway Annual Shareholders Meeting 2024 w/ Clay Finck & Kyle Grieve.
Related Episode: TIP551: Berkshire Hathaway Annual Shareholders Meeting 2023 w/ Clay Finck.
Related Episode: TIP446: Berkshire Hathaway Annual Shareholders Meeting 2022 w/ Stig Brodersen & Trey Lockerbie.
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
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Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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1:26:48
TIP720: Investing Against The Tide
On today’s episode, Kyle Grieve breaks down the contrarian investing philosophy of Anthony Bolton, revealing how he consistently outperformed the market by combining sentiment analysis, in-depth fundamental research, and a flexible yet disciplined portfolio strategy.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:27 - The traits Bolton observed in the best fund managers.
04:55 - Why incomplete knowledge can be a strength.
06:56 - A simple method for conviction-based portfolio reviews.
11:48 - What to do when your investments aren't working.
16:05 - The role of sentiment in Bolton’s investing edge.
22:40 - How to spot and avoid artificial conviction.
29:14 - Using bond prices to assess business risk.
31:18 - Why controlling your destiny matters in business.
35:45 - Insights Bolton gained from meeting company management.
01:00:45 - Three big mistakes—and what they taught him.
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.
Read Investing Against The Tide here.
Follow Kyle 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
--------
1:08:21
BTC233: Bitcoin & Texas A Roadmap for the Global Financial Shift w/ Parker Lewis (Bitcoin Podcast)
This episode explores Bitcoin’s emerging role as a global economic force, from its convergence as money to grid integration, payment tech, and strategic policy shifts.
Preston and Parker also spotlight Zaprite's innovations for Bitcoin payments and the broader implications of CBDCs and regulatory changes.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:12 - Key developments in Texas: grid reliability, strategic reserves, and Bitcoin Park
07:12 - How Bitcoin mining can support energy grid reliability and cost efficiency
09:47 - Economic pros and cons of a U.S. Strategic Bitcoin Reserve.
12:57 - Navigating regulatory pressures while fostering innovation in the Bitcoin space
14:08 - How Zaprite helps businesses integrate Bitcoin payments with ease
15:50 - The impact of Zaprite’s new Payments API on the merchant landscape
21:26 - Why Bitcoin, not crypto, is positioned as the singular monetary convergence point
27:51 - The rationale behind global convergence toward Bitcoin as a monetary standard
28:41 - The role and future of stablecoins in a Bitcoin-dominant ecosystem
34:35 - The feasibility of Bitcoin becoming a global reserve currency
41:00 - Bitcoin as a hedge against inflation and the response to CBDCs
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Parker’s book, Gradually, Then Suddenly.
Start accepting Bitcoin payments through Zaprite.
Parker’s X Acount.
Related Video: Bitcoin, Not Crypto.
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?
Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok.
Check out our Bitcoin Fundamentals Starter Packs.
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.
Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
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
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
About We Study Billionaires - The Investor’s Podcast Network
We interview and study famous financial billionaires, including Warren Buffett, Ray Dalio, and Howard Marks, and teach you what we learn and how you can apply their investment strategies in the stock market.
We Study Billionaires is the largest stock investing podcast show in the world with 180,000,000+ downloads and is hosted by Stig Brodersen, Preston Pysh, William Green, Clay Finck, and Kyle Grieve.
This podcast also includes the Richer Wiser Happier series hosted by best-selling author William Green. William regularly interviews legendary investors such as Mohnish Pabrai and Guy Spier, exploring what they can teach us about how to succeed in markets and life.
And finally, our Bitcoin Fundamentals series is hosted by Preston Pysh, where he interviews prominent figures in the Bitcoin and macroeconomic space. To learn more about TIP, you can visit theinvestorspodcast.com or subscribe to our free daily newsletter here.
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